The past decade has seen data become a focal point across all industries, and that is no different for alumni relations and advancement services today. Your institution might already have a well-built CRM system that ensures you have up-to-date information on your alumni and events. In this blog, we’ll take a look at how data today can not just contribute but drive a successful fundraising campaign.

The Essentials

Your data is only as useful as your overall strategy. Before you can have a truly data-driven fundraising campaign, you need to make sure your institution has the right parts:

• Robust Database: Your centralized source for all records and data. Your database should include detailed records of alumni interactions, past donations, and demographic information. Depending on your current setup, you may already have all you need or you may need some additional features. It is crucial to remember that your database is the heart of any data-driven campaign, fundraising or not.
• Data Management Tools: Customer Relationship Management (CRM) systems are the interface with which your staff uses your database. It is important to have a CRM that is intuitive, flexible to new features and needs, and easy to use for staff members. With some experience, these tools can help you automate processes and enhance user experiences for both staff and alumni. ‍
• Clear Objectives: As an institution, you will need a solid idea of what key objectives you want to target as this will decide which data you collect and analyze. Keep in mind the database infrastructure available to you as well as the size and capabilities of your staff.

What Kind of Data Should You Consider Collecting?

To maximize the effectiveness of your fundraising campaigns, you need to collect a variety of data that provides insights into your alumni's behaviors, preferences, and giving potential. Here are some of the commonly collected types of data for fundraisers:

• Demographic Data: This includes basic information such as age, gender, location, and graduation year. Demographic data helps you segment your audience and tailor your messaging to specific groups.

• Engagement Data: Track how alumni interact with your institution. This could include event attendance, email open rates, social media interactions, and website visits. Engagement data helps you identify highly active alumni who may be more likely to donate.

• Giving History: Understanding an alum's past donation behavior is critical. This includes the frequency, amount, and timing of their donations.

• Interest and Affinity Data: Collect information on what causes or programs your alumni care about. This can be gathered through surveys, social media, or past donations. Interest data allows you to create targeted campaigns that resonate with specific donor interests.

• Real-Time Insights: Real-time data refers to information that is available immediately, as events occur. This can include monitoring web traffic, social media interactions, or live updates from email campaigns. The advantage of real-time data is that it allows you to respond quickly to donor actions. For instance, if an alum shows interest in a particular fundraising campaign by clicking a link in an email, you can follow up with personalized content or a phone call shortly thereafter.

• Intent Data or Intent Signals: Intent data provides insights into the likelihood of a donor making a future gift based on their current behavior. This data is collected from various touchpoints, including website visits, content downloads, and email interactions. For example, if a donor frequently visits your scholarship donation page, this could indicate a strong intent to give toward that cause. With this knowledge, you can prioritize outreach to these high-intent donors, increasing your chances of securing a donation.

Making the Most of Your Data

Once you've collected the data you’ll need, the next step is implementation. Here’s how to effectively put your data to work:

• Segmentation: Use your database to segment alumni into groups based on giving history, demographics, and engagement. Tailor your messaging to resonate with each group’s interests.

• Donor Journey Mapping: Map out the typical donor journey for each segment. Understand the touchpoints and interactions that lead to increased giving. Use this information to optimize the donor experience.

• Personalization: Craft personalized communication strategies. Address alumni by name and reference their past interactions with the institution to create a more engaging experience.

• Targeted Campaigns: Develop specific campaigns for different segments. For example, create a campaign focused on younger alumni that highlights the impact of their contributions on current students.

• Predictive Modeling: If you have the resources for it, you can also use predictive analytics to identify potential major donors and forecast future giving trends. This allows you to focus your resources on the most promising prospects and plan your campaigns more strategically.

Data Visualization

Data visualization is essential for making complex data more accessible and actionable. By presenting data in visual formats like charts, graphs, and dashboards, you can quickly identify trends, patterns, and outliers.

Effective data visualization will benefit your staff at all stages of any fundraiser. For example, instead of donations received over the past 5 years, your staff may benefit from being able to view donations received from fundraisers in the summer season specifically. This is just an example and what you need and how you can implement it may vary wildly depending on your CRM.

Turning Data into Fundraising Success

It would be a shame to have all the parts you need only for it to not work as intended. Once you have the data you need and know how you would like to use them, it is time to ensure that your approach is optimized for efficiency. Here are some things to always keep in mind at every stage of your fundraiser:

• Are you using the right kind of tool for your institution?

• Do you need any additional tools or feature upgrades for your fundraiser?

• Is your data centralized? If not, can you get centralized reports from your tools?

• Are your tools/features communicating with each other well?

The key takeaway is that you need to have the right tools and a data strategy to tie it all together. If you are using multiple tools that do not communicate well with each other, you will be wasting time and efficiency when the same set of tools or features could have given you a perfect overview of all your campaigns with just a little bit more planning.