It’s relatively easy – and really tempting – to simply segment your donors by the size of their most recent gift. In just about any donor database, you can run a quick report, and BAM, have those segments ready to go.
But with donor attrition at a frightful 57 percent, according to the Fundraising Effectiveness Project, we have to ask ourselves, is this really the best way to segment our databases?
When I worked with our partners Attentive.ly and WealthEngine on the “Where Wealth Meets Social” webinar, our goal was to present fundraisers with ideas for improving donor communications and retention, so the 57 percent attrition rate could be a thing of the past.
With Attentive.ly, you can pull in social data to help you understand interests and passions. So, if you work at an animal welfare organization, for example, and you see a group of donors very passionately posting about penguins, you know it’s an ideal time to send each of them a solicitation for your Penguin Protection Program.
With WealthEngine, you can understand the giving potential of your donors AND where their propensities lie to give to causes like yours. For example, if you receive a $100 donation from a new donor, but then can see her net worth is $50 million and her giving history is heavily slanted toward animal welfare groups, now you know you should start nurturing her for a major gift, instead of continually appealing to her for $100 or $200 donations.
Now, imagine if you combine that data into your donor database, like netFORUM Enterprise™ or Millennium™. Right on the donor record, you could clearly see this particular donor loves penguins, is worth $50 million, and has a general propensity toward animal welfare giving. Hello, opportunity! That’s a major gift officer’s data dream come true!
For a visual representation of that data and how totally awesome it is, here’s my favorite slide from the webinar. For more, watch “Where Wealth Meets Social” today.