|
When you consider these numbers and combine that with the $41 million raised for Haiti through the very limited text-to-give model, mobile provides a golden opportunity for fundraisers.
Better analytics
"RFM is not nearly good enough," Craver said. "How can you possibly build a relationship by only using and crudely applying three things about someone?" There needs to be collaboration and further insights to get a complete view of the donor.
"External attributes should be used to understand and predict future donor behavior," Craver said — geography, age, vehicle, home size, assessed home value, generations in household, net worth, mail-order donor, demographic cluster, etc. Craver then showed the difference between midlevel donors and legacy donors via the correlations of their external attributes.
The highest correlation to potential mid-level response:
- Home size
- Neighborhood home value
- Frequent credit card user
- Assessed home value
- Relative home value
- Demographic cluster
- Geography
- Make of vehicle
- Travel buyer
- Age
- Generations in household
- Net worth
- Household size
- Mail-order donor
- Dwelling type
- Target: Identify a group of people taking the action you want to replicate, i.e., donors who have made a planned gift.
- Model: Understand their common characteristics, and build a formula around those attributes.
- Score: Use the formula to identify those likely to engage in the same behavior on your housefile based on similarities to target.
Don't just look at donors as walking checkbooks and dollar signs. Connect with your donors and build relationships, Craver said. Treat them like customers, and have a focused stewardship plan. Communicate through multiple channels, and understand who's loyal and who's vulnerable to engage them appropriately.
Innovation and investment are key
"Invest to protect and upgrade your great asset," Craver said. Focus on stewardship and loyalty, midlevel donor programs, planned giving, effective reinstatement, etc. You must put in the time, money and planning to continue to grow your file.
"Experiment. Evaluate. And experiment some more," Craver added. Use analytics and predictive modeling with effective testing to take on new endeavors, whether it be in mobile or anything else.
Never stop investing and innovating to keep your mission alive.
Page 1 | 2
Companies Mentioned:
 |
|
Hitting the Email Inbox
Hitting the Email Inbox
Social Media ROI
Email Marketing that Works (2nd Edition)
