Want to know the key secret to managing a successful not-for-profit organization? Sure you do! Nonprofit success hinges on implementation of an effective engagement strategy that helps you develop and reinforce key relationships among your donors, volunteers and the community at large.
Your organization’s development professionals have likely used donor data as a means to develop and nurture relationships among individuals, corporations, government agencies and other key audiences. But these days, donor data is being used to unlock a virtual treasure trove of customizable best practices capable of addressing your organization’s unique donor relations challenges.
Use Data To Facilitate Trust
It’s possible that you’ve already made it your mission to adhere to variety of industry best practices designed to nurture high-quality donor relationships. After all, these relationships are critical to the livelihood of your organization. But if you are looking to go a step further to minimize risk, facilitate trust and promote transparency, donor data collection is the way to go.
Ready, Set, Collect
If you haven’t started tracking your organization’s donor data, now’s the time to start. Not only can donor data collection help you nurture existing relationships, it can help you identify improved methods to engage with potential donors. In addition to collecting general information such as name, address phone number, etc., consider tracking:
- Relationships (the donor/prospects relationships with others in your organization and among others in you donor database)
- Board memberships (which groups do they support, how often and in what capacity)
- Community involvement (which organizations or initiatives do they support and how often)
- Initial cause of involvement or interest in your organization
Starting the data collection process is as easy engaging in a conversation. Whether you preparing to call up a donor (or prospective donor) or meet with them, the most important part of the data collection process is to be prepared. These three data collection preparedness strategies will get you started.
- Policies & Procedures – Develop your data collection policies and procedures early on to help guide your donor relations strategy. This will help you and your team stay on the same page when it comes to your communications strategies, data storage considerations and even ensuring correct implementation of your donor relations protocol.
- Check Checklists Off Your List – You’ve spoken with prospective donors before so probably know words or phrases they will use to indicate their level of interest. Compile this information and form some check lists to help guide your conversations and learn more about individual donor intentions.
- Storage Solutions – It’s always a good idea to house your data in a centralized location to provide you with quick access to important information about a donor or prospective donor and their gifts. Additionally, think about which accounting and reporting tools you will be using and how they can be utilized to show donors that their funds are being used as they were intended.
As long as everybody in your organization is on the same page, donor data collection can be a powerful process that facilitates improved donor relations resulting in a stronger nonprofit. From formulating your approach to accepting gifts to identifying a process for acknowledging donors for their support and all communications efforts in between, find out how donor data collection can be used to strengthen your organization. Email Rea & Associates to learn more.
By Ben Antonelli, CPA (Dublin office)