4 Ways to Amplify Your #GivingTuesday Fundraiser With Data
4 Ways to Amplify Your #GivingTuesday Fundraiser With Data
Giving Tuesday is an internationally recognized annual fundraiser that takes place on the Tuesday after Thanksgiving in the U.S. According to fundraising statistics from 360MatchPro, over $2 billion was raised as part of last year’s generosity movement. As such, it represents an important opportunity for nonprofits to fund their initiatives.
As you prepare for this year’s festivities, consider how data can support your strategy. By analyzing and leveraging donor data, you can create targeted campaigns that resonate with your audience and fine-tune your approach according to their level of engagement.
Let’s explore four other ways in which data can maximize your organization’s fundraising efforts.
1. Conduct prospect research
Bolstering your CRM (constituent relationship management) database through prospect research will set your Giving Tuesday campaign up for success.
AlumniFinder defines prospect research as the process of collecting information about a potential donor’s capacity and desire to give to your organization. This is especially important for major donor cultivation, as you’ll likely rely on a small number of generous donors to reach your fundraising goals.
To conduct prospect research, collect data from various sources, such as publicly available records, social media, and other public data sources. You can also use tools such as wealth screening services and donor research software to find the following information:
- Wealth indicators: Financial information—such as a donor’s business affiliations, stock ownership, and home value—will give you an idea of their ability to donate.
- Philanthropic indicators: A donor’s charitable giving history and political involvement can help you determine their willingness to give.
Assessing this data and storing it in your database will help guide your outreach efforts, allowing you to focus on the people who you know will resonate with your cause and are most likely to respond positively to your Giving Tuesday appeals.
2. Ensure your database is clean and complete
As you collect donor data, it’s important to implement a process for cleaning and enhancing your database. Make sure your metrics are error-free by removing duplicate entries and updating missing or inaccurate information. Then, consider ongoing data enhancement practices such as:
- Conducting a data append. Whether you’re missing a donor’s mailing address or giving history information, data appends can fill in the gaps in your donor database. Appending data involves using a third-party source to supplement your existing donor data and add new information to your records.
- Standardizing data entry. Establish rules for manually entering data into your database. For instance, when entering donor phone numbers, you may choose between the following formats: (123) 456 -7890 or 123-456-7890. Standardizing these entries will make it easier to find and organize information later on.
Designing a Giving Tuesday campaign with clean data in mind will help you make informed decisions and drive success.
3. Leverage segmentation
Now that your database is complete and clean, you can filter through it and create donor segments to discover key insights. Donor segmentation is the act of organizing your supporters into well-defined groups based on data—such as average gift amount and engagement history—to personalize your marketing materials.
Common segments for Giving Tuesday outreach include:
- Prospective new donors: On Giving Tuesday, most nonprofits use social media to attract new donors to their campaign. Frame these appeals around introducing your mission and the impact that your organization has on the community.
- Recurring donors: Use Giving Tuesday as a means of stewarding monthly donors to ensure you have a stable source of funding throughout the year. Highlight the value of their sustained commitment in your outreach. Offer opportunities for them to increase their involvement, such as donating to your Giving Tuesday campaign.
- Major donors: Send personalized messages to current and prospective major donors that emphasize the significance of their support.
Keep in mind that segmentation criteria will vary depending on your specific Giving Tuesday campaign. For example, if you’re hosting an event to kick off the fundraiser, you might segment supporters based on geographic location, reserving in-person invitations for supporters in your local community and sending virtual invite links to those living outside of the area. This level of personalization will help boost engagement.
4. Track relevant metrics
Following Giving Tuesday, collect and analyze campaign metrics to determine which strategies are working well and which ones need improvement. Start with these basic metrics:
- Total funds raised: This metric reflects the overall success of the campaign and can serve as a baseline for future Giving Tuesday campaigns.
- Number of donors: Determine how many people donated to your campaign to evaluate its reach and effectiveness.
- Average gift amount: Identify the average donation amount that donors contributed to the campaign. This metric can be used to identify major donors and inform future fundraising initiatives.
- Supporter engagement: Consider how your outreach performed by measuring marketing metrics, such as website traffic, social media engagement, and email response rates.
By collecting and analyzing these metrics, you can assess the effectiveness of your Giving Tuesday campaign, identify areas for improvement, and better engage supporters going forward.
With these data-driven strategies, you can raise more funds on Giving Tuesday, engage donors, and make a meaningful difference in their communities. Implement these tips as soon as possible to make the most of the annual day of giving.