If You Can’t Measure It, You Can’t Manage It

Data is king!

You heard me right; data is king. Without data and the ability to understand data, analyzing event progress and developing a strategic plan becomes a guessing game. Over the next few weeks I will be addressing data and providing ideas to help you improve things like registration, retention of participants and, most important, retention of dollars. Today’s technology provides a wealth of information on your participants/donors. It’s a matter of interpreting the data, segmenting the data and drawing conclusions to impact your bottom line.

In the meantime, here is some survey info picked up from a recent conference about donor preferences. Use it wisely. Understanding what motivates your donor makes a difference to improve their loyalty.

What matters most to donors:

71% – Money is used wisely
69% – Good Reputation
68% – Strong belief in mission/cause
53% – My support makes a difference

Why donors leave:

5% – Thought charity did not need them
8% – No info on how monies were used
9% – No memory of supporting
13% – Never got thanked for donating
16% – Death
18% – Poor communication or service
36% – Others more deserving
54% – Could no longer afford
57% of donors would like communication at least once a month.

A 3-minute thank you call boosts first year donor retention by 30%.