The secret to better campaign results, more engaged donors, and board buy-in is a thoughtful and clear fundraising plan. While we all know we need a plan, sometimes it’s not always easy to make time to create a realistic plan and in many cases, we may not have the information we need to make the right strategic decisions. If you’re like most small nonprofits, it’s likely that your plan is missing a critical element—clean, accurate fundraising data.
Your Fundraising Plan Must Be Based on Accurate Fundraising Data
Having the right data on your campaign performance, funding sources, donor history, and giving patterns will allow you to make smarter decisions on how to spend your time and resources going forward. Why is this so important?
You’ll know what’s working, and what’s not.
Sounds obvious, right? But most nonprofits are surprised when they see their aggregated fundraising results and campaign data. As trends emerge, you can make better decisions on what to do more of…and what to stop doing in the coming year. You can double down on the tactics and messages that work best for your supporters.
You can identify donor segments and create strategies for them.
Once you understand who your new, major, recurring, lapsed, and event donors are, you can develop tailored outreach to best reach and convert them. (Just getting started with donor segmentation? We have a simple planning template that will help you maximize your communications.)
You’ll have more credibility with your board.
You can feel more confident presenting your plan to your board when you have the data to back it up vs. relying on a hunch or opinions. Having a data-backed plan will also help you answer questions and fend off “creative tinkering” from well-meaning board members.
You’ll know what you need to spend to meet your fundraising goals.
Armed with the data about your past fundraising results and donor opportunities, you can project how much you’ll need to spend (and which resources to allocate) to make the plan happen.
Need some help getting a better fundraising plan in place and figuring out how to collect, compile, and understand the data you need? Check out this on-demand webinar to learn simple steps for quickly creating a solid plan that will allow you to reach your small nonprofit’s funding goals this year.
Reference: Network for Good