into action putting data fundraising & donor retention kpis...kpis benchmarks key performance...
TRANSCRIPT
Fundraising & Donor Retention KPIs:
Putting Data into Action
July 24, 2018October 3, 2018
Agenda
Key takeaways:• What are the Fundraising KPIs? • How to benchmark your nonprofit’s performance with
the KPIs• How to use data improve your fundraising & donor
retention strategy
Bonus:• Free resources from Fundraising Effectiveness Project• Q&A
October 3, 2018
About me
Tim SarrantonioDIRECTOR OF STRATEGIC PARTNERSHIPS
• 13+ years working for nonprofits• Raised over $3 million• Raiser’s Edge, Salesforce background• Current NeonCRM admin
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First, a key shout out
Why is data important?
Understanding your data
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Data tells us stories we care about
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At a nonprofit, “data” represents our people:• Donors• Members• Volunteers• Event attendees• And more
Paying attention to this data helps us get to the core of how we are engaging with our best supporters.
Deep relationships = deep data
http://afpfep.org/wp-content/uploads/2018/04/2018-Fundraising-Effectiveness-Survey-Report.pdf
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Data is linked to performance
• You can’t solicit who you can’t reach
– Without ongoing data hygiene, donation campaigns suffer as 11% of
Americans change their address each year*
• You can’t message what you don’t know
– Targeting donors on a 1:1 level increases response rates up to 50%
or more - which requires ongoing data planning and capture
• You can’t measure what you can’t connect
– Average nonprofits store data in more than five places - limiting
their ability to truly measure and improve
* https://nonprofitssource.com/online-giving-statistics/
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What are the Fundraising KPIs?
Building a framework
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To achieve $10,000 in donations from this fundraising campaign, we need to achieve an average gift of
$50 from 200 donors this year.
Goal
KPIs
Benchmarks
Key Performance Indicators
By tracking performance with benchmarks that roll up to larger goals,KPIs help you focus on what matters most all along the way so you can adapt to get there.
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Why do they matter?
• Gives you and key stakeholders focus in a sea of data
• Tells you what success looks like when you lack that
historical data
• Enables fundraising strategic planning with realistic
goals and fewer surprises
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The FEP KPIs
• Average Annual Giving Per Donor• Average Gift• Donor Retention Rate• Donor Attrition Rate• Donor Participation Rate• Donor Reactivation Rate• Donor Recapture Rate
• Donor Reacquire Rate• Donors in Database• Donors this Year• Estimated Donor Lifetime• New Donor Acquisition Rate• Rate of Growth in Donors• Rate of Growth in Giving
How to benchmark your nonprofit’s performance with the Fundraising KPIs
Measuring your performance
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Using benchmarks
1. Scheduled performance reviews by an assigned
“leader” for bringing data into your org
a. Where are you underperforming?
b. What would the impact be if not addressed?
c. How much improvement is needed from now until
end of quarter/year/campaign to hit target?
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Testing strategies
2. Set time to create hypotheses behind any
under-performing KPIs
a. What’s different this time?
b. What’s different from your approach and others?
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Making an action plan
3. Brainstorm changes based on hypothesis and
implement plan to address
a. Who
b. What
c. Where
d. When
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How to use data to improve your fundraising & donor retention strategy
Examples & Best Practices
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Building campaign models
Use your goals and industry benchmarks to build a performance model
● Compare your previous performance
against benchmarks
● Identify areas to focus on for
improvement
● Align organization around goal backed
by underlying numbers everyone agrees
to up front
● Know what you need to measure
throughout campaign to stay on top of
performance and adjustModel courtesy of the Fundraising Effectiveness Project.All rights reserved.
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Reports and dashboards
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Visualizing your KPIs in a dashboard or report
● Top of mind every day
● Can see positive and negative changes quickly and react
● Granting access provides transparency and data to key stakeholders
Donor Retention
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Data point Performance Potential Improvements
Donor Retention Rate Below average● Start a monthly giving program● Consider a membership program● Re-evaluate your appeals
Donor Attrition Rate Above average● Try tweaking your thank you letters● Send more impact-driven updates
Donor Reacquire Rate Below average● Launch a re-engagement campaign● Create automated trigger email
campaigns for nearly lapsed donors
Donation Amount
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Data point Performance Potential Improvements
Average Gift Below average● Leverage gift strings and calculated
asks in your appeals
Average Annual Giving Per Donor Below average
● Add additional fundraising events or P2P campaigns throughout the year
Rate of Growth in Giving Below average● Seek out corporate donors or major
gift opportunities
Connecting the Dots
Leverage your great donor loyalty and create a giving society or giving levels to celebrate your best supporters. Donors will feel even more appreciated,
but you’ll be able to more easily move them “up” to higher donations.
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Donor Retention Rate
Average Gift Amount
AND
Potential Solution:
Diving deeper
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● Combine standard, external, and custom data● Get deep insights from cross-platform reporting● Cut down on manual reporting & analysis
Any questions?
Q&A
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Bonus: FEP Resources
Download:afpfep.org/reports/downloadafpfep.org/tools
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Thank You!
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