On March 23rd, we joined partner organization ALUMinate to host an engaging exploration of ways data analytics resources can augment fundraising strategies for our clients. The webinar, “Data-Driven Approaches to Post-Pandemic Fundraising” was attended by more than 50 professionals from across the sector, including social services, education, the arts, and other nonprofit organizations.
Latz and Company President, Leo Latz opened the conversation with key observations on how the non-profit field has changed and adapted during the past year and how a relationship-based approach to fundraising is more important than ever. ALUMinate President and Co-Founder, Bob Fealy, followed up with additional observations on the field and insights on how nonprofits can think about Data Analytics as a tool and as a key resource to optimize fundraising results.
Latz & Company Vice President, Derek McPhatter, and ALUMinate Director of Donor Strategy and Relations, Theresa Voigt then led a more detailed discussion, breaking down the data analytics process:
Preparation
Goal development
Deliverables
Action items and impact.
As the pandemic subsides, our sector will emerge transformed. Vision, organizational development, and addressing strategic issues are more important than ever.
Donors’ expectations regarding virtual and digital engagement have increased, with less tolerance for low production or sound quality. Even after the pandemic, digital engagement and events aren’t going away. At the same time, data security and confidentiality are top of mind; it’s even more essential for mission-driven organizations to prioritize proper care and management of donor data and partner with consultants and vendors who understand this changing landscape. As always, engaging constituents in these processes will result in optimized giving.
Data analytics is a powerful tool for strengthening donor engagement efforts, but authentic relationship building remains central, and more of an art form. As the team at ALUMinate likes to say:
“Data PLUS people equals fundraising success!”
Data analytics helps you:
Utilize algorithms to scan your database for new and lapsed prospects
Find out which of your high-capacity prospects are known to be philanthropic
Consider which prospects would be strong candidates for planned giving or interest-based fundraising
And much more!
Analytics tools does much more than screen for potential wealth and gift inclination and capacity. Latz and Company and ALUMinate are ready to help you assess your needs and determine customized goals for your analytics efforts.
How ALUMinate helps nonprofit organizations:
There are many possible goals for data analytics; from wealth screening data to data “appends” – new contact information, social media information, and other indicators. Verified, quality, and up-to-date information on your constituents will be more important than ever coming out of the pandemic. For example, have some of your known prospects changed or lost jobs during the pandemic? We recommend organizations update their databases at least once a year.
Analytics is particularly powerful for identifying patterns or trends among your prospects and volunteers, indicating possible clusters of opportunity based on geography, time of year, or affinity group.
This Spring, we’re also scheduling complementary half-hour consultations for organizations interested in learning more. If you’re interested in a free consultation, please contact ghuffmangott@latzandco.com today.
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To learn more please contact Latz & Company professional at 888.949.LATZ (5289) info@latzandco.com.