Raiser’s Edge NXT vs Salesforce: Which CRM Works Best for Advancement?

Securing the data of constituents is a principal duty of institutions

The year 2020 served as a warning that anyone can be the victim of a data breach. More than 120 non-profit organisations learnt that their data was at risk after a breach in Blackbaud's platforms by a ransomware attack. Millions of donors, customers, and staffers were affected, and the incident became the most impacting data breach of 2020. 

The ransomware fiasco necessitates reiterating the principal duty of educational institutions to secure the data of their trusting constituents.

Advancement leaders are custodians of data of thousands of alumni and donors, and securing their data must be their highest priority. A lapse in security can have a damaging effect on advancement, as years of relationship-building can be undone by one moment of vulnerability. It is, therefore, the responsibility of institutions to reaffirm their seriousness towards security by adapting secure systems to solidify their constituent's trust in them. 

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Passwords are a threat to security

Today, passwords are also a threat to our security. Traditional password authentication is susceptible to threats such as data breaches and phishing. According to a report conducted in 2020, 63% changed their passwords due to a security breach. 

In addition to external risks, our heedless habits with managing and sharing passwords increase their risk of exposure.

• 75% of American between ages 18 and 24 used passwords that belonged to someone else to gain access to a service or device. 
• 34% of consumers have shared their password with others. 
• 59% re-use their passwords across sites. 
  

Our habits with passwords coupled with the looming risk of attacks prove that passwords are no longer a safe way of authentication.

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Almabase moves to password-less authentication to provide alumni with a safe space online

At Almabase, we have taken proactive measures to secure the data of its customers and their constituents. 

We have integrated with Auth0 to upgrade our login mechanism to become completely password-less. By replacing passwords with single-use codes, this mechanism immunes itself from threats. 

This partnership with Auth0 moreover aims to improve the experience of members. Single-use codes will help even the most infrequent users log in without the need to remember their passwords. The platform now also supports SSO (Single-sign-on) via Facebook, Linkedin, and Google, in addition to allowing members to log in using any of the multiple emails listed on their records.

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On top of improving the login experience and making it robust, the platform now also supports moderation of access to content and resources to segments of users based on criteria admins set. 

With these upgrades, millions of alumni across hundreds of institutions will access their data securely online. We hope that institutions take data security seriously across all their systems, allowing for this relationship to build on greater trust.

K-12 schools and higher ed institutions, public and private alike, rely on smart fundraising strategies to generate the revenue needed to maintain and grow their operations. But planning and carrying out fundraising initiatives without the donor data to inform them can feel like a shot in the dark.

By harnessing the power of data analytics, however, educational institutions can unlock new avenues of support and establish personalized fundraising tactics that resonate with supporters on a deeper level.

In this blog post, we delve into the world of data-driven fundraising and explore what schools of all shapes and sizes need to know.

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The Value of a Data-Informed Fundraising Approach

A data-informed fundraising approach empowers school fundraisers to build and strengthen donor relationships in a rapidly changing landscape. Today, tailored engagement efforts are seeing particularly high levels of success, with personalized initiatives resonating deeply with organizations’ support networks.

In fact, according to industry research, personalized emails see open rates over 82% higher than generic emails, while segmented campaigns produce up to 760% revenue growth! 

Each contact in your CRM is a different person who has their own unique set of behaviors, preferences, and history with your school. For example, Sarah⁠ (a recent college grad and devoted alumnus who has recently begun donating to the college's scholarship fund) and John⁠ (a retired faculty member who actively participates in campus events and has supported the annual fund campaign for the past twenty years⁠) should not be engaged with in the same way.

Instead, the insights gleaned from personal interactions, surveys and forms, and third-party resources⁠—powered by smart technology⁠—can guide your efforts with individualized engagement recommendations and more.

In this guide, we’ll explore several critical donor data points and how each one can inform your school’s efforts. These include:

1. Demographic Information
2. Relation to the Institution
3. Engagement History
4. Communication Preference
5. Employment Details
6. Wealth Level
7. Affinity and Interests

The more you know, the better you can tailor your strategy for each person supporting your cause. By establishing donor-centric fundraising practices, you can create a positive giving experience that fosters long-term engagement that goes beyond any single transaction.

Demographic Information

Demographic data is some of the most basic information you can collect about a donor. And it’s the foundation of a successfully personalized strategy.

Key demographic points to look out for include a supporter’s name (full name and preferred name or nickname, if applicable), contact information (phone number, email address, social media handles, etc.), address and geographic location, age or D.O.B., and more.

How to get this data point: Ask for these details on your online donation pages. While you’ll want to limit the number of required form fields to the must-haves (typically name and email), the rest can be optional requests. Tons of donors are willing to provide additional information when asked!

Relation to the Institution

Understanding a donor or prospect’s affiliation with your school can be the key to pulling off an effectively tailored strategy. After all, it’s likely one of the primary motivations behind an individual’s giving.

For example, you’d likely take a different approach to alumni engagement than you would for a current student, faculty member, or unrelated donor. Each group has its own unique set of defining characteristics, and acknowledging a supporter’s relationship with your school can establish a more personalized giving experience.

How to get this data point: This is another piece of information you can ask for in your donation form. Consider implementing an optional drop-down field that encourages donors to mark their status as a student, alumnus, family member, friend, faculty/staff, or other.

Engagement History

A donor’s past giving patterns can be one of the largest indicators of future behavior. By tracking how your supporters are involved with your school, you can take key steps to encourage further support. For example, you’ll be able to better understand giving motivations, predict engagement trends, and even uncover major donor opportunities.

Keep in mind that engagement history should go beyond traditional donations⁠—and encompass all instances of giving, volunteering, peer-to-peer fundraising, attending events, matching gifts, and more.

How to get this data point: This information should be quick and easy to locate in your donor database. To ensure you have a thorough understanding of each individual’s engagement with your institution, regularly updating your CRM is a must.

Communication Preference

If you send donation appeals using a channel that a donor doesn’t care for, your outreach is more likely to be discarded without consideration. On the other hand, if you use an individual’s favorite means of communication, you can expect a significantly greater response.

Thus, tracking and analyzing donor communication preferences can go a long way⁠—not only in securing more gifts for your school, but also in reducing costs invested in non-responsive channels.

How to get this data point: Take a look at your recent interactions with a donor. Do they tend to be more responsive over email compared to direct mail? Do they favor phone calls or text messages? Your past campaign conversion rates can provide a ton of useful details. Alternatively, consider sending a donor survey that asks respondents to share their preferred communication channels to get straight to the point!

Employment Details

Knowing where your donors work is one of the most impactful data points you can have. Not only does employment data allow your team to uncover existing workplace giving opportunities (i.e., matching gifts, volunteer grants, annual giving stipends, and more) within your support network⁠, but it can also inform your broader corporate partnership strategy, provide wealth insights, and allow for increasingly personalized outreach.

While the employing company is the most important aspect, it also helps to have additional insights such as their job title, rank, and part-time versus full-time status. Many companies even match donations made by their retirees⁠—so don’t count them out, either!

How to get this data point: Employment information is another data point that can be collected directly within the online giving experience. But our #1 recommendation is to integrate your fundraising platform with an innovative matching gift tool⁠—like Double the Donation’s partnership with Almabase!

Leveraging a solution like this empowers your school to collect employment data from donors as they reach the confirmation screen. Plus, it allows you to screen contact information for corporate email addresses and trigger automated post-donation outreach⁠—each of which provides your team with employer insights.

Wealth Level

Asking for too much from your donors can lead to extra “no’s,” while asking for too little often leaves available dollars on the table. Thus, having a basic understanding of an individual’s wealth level and capacity to give can help your development team tailor gift requests with optimal donation suggestions that resonate with the prospect.

This information can also help uncover major donation opportunities that already exist in your network⁠—you just might not know it yet!

How to get this data point: Conduct a wealth screening of the donors, prospects, and alumni in your database to identify those with the ability to contribute substantial gifts. Take a look at common wealth markers like stock ownership, real estate holdings, past giving, and previously uncovered employment details to estimate an individual’s capacity to give.

Affinity and Interests

Beyond a donor’s financial giving abilities, another key tenet of prospect research includes looking into the person’s affinity to give. In other words⁠—do they take a natural liking to your cause?

If an individual has an existing relationship with your school (i.e., student, alumnus, faculty member, family, etc.), that connection often does produce an affinity to support your efforts. However, you’d want to note that a chemistry student would likely be more inclined to donate to an expansion of the college’s science wing rather than a scholarship fund for incoming art classes.

How to get this data point: Make a note in your donor database after each meeting with a major donor or prospect. If they mention any particular interests, jot it down to have on record going forward. If an individual is an alumnus of your institution, their major or field of study can provide some insight into their personal and professional interests.

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As the educational fundraising landscape continues to evolve, data-driven fundraising becomes increasingly essential to unlocking untapped potential. 

The invaluable insights gleaned from supporter data can empower your institution to make the most of available resources, identify and engage effectively with high-value prospects, and enhance donor retention⁠—from first-time donors to life-long supporters.

Make sure your development team has the tools and the strategies in place to collect, store, and analyze the data available to you. Don’t let that resource go to waste!

The past decade has seen data become a focal point across all industries, and that is no different for alumni relations and advancement services today. Your institution might already have a well-built CRM system that ensures you have up-to-date information on your alumni and events. In this blog, we’ll take a look at how data today can not just contribute but drive a successful fundraising campaign.

The Essentials

Your data is only as useful as your overall strategy. Before you can have a truly data-driven fundraising campaign, you need to make sure your institution has the right parts:

• Robust Database: Your centralized source for all records and data. Your database should include detailed records of alumni interactions, past donations, and demographic information. Depending on your current setup, you may already have all you need or you may need some additional features. It is crucial to remember that your database is the heart of any data-driven campaign, fundraising or not.
• Data Management Tools: Customer Relationship Management (CRM) systems are the interface with which your staff uses your database. It is important to have a CRM that is intuitive, flexible to new features and needs, and easy to use for staff members. With some experience, these tools can help you automate processes and enhance user experiences for both staff and alumni. ‍
• Clear Objectives: As an institution, you will need a solid idea of what key objectives you want to target as this will decide which data you collect and analyze. Keep in mind the database infrastructure available to you as well as the size and capabilities of your staff.

What Kind of Data Should You Consider Collecting?

To maximize the effectiveness of your fundraising campaigns, you need to collect a variety of data that provides insights into your alumni's behaviors, preferences, and giving potential. Here are some of the commonly collected types of data for fundraisers:

• Demographic Data: This includes basic information such as age, gender, location, and graduation year. Demographic data helps you segment your audience and tailor your messaging to specific groups.

• Engagement Data: Track how alumni interact with your institution. This could include event attendance, email open rates, social media interactions, and website visits. Engagement data helps you identify highly active alumni who may be more likely to donate.

• Giving History: Understanding an alum's past donation behavior is critical. This includes the frequency, amount, and timing of their donations.

• Interest and Affinity Data: Collect information on what causes or programs your alumni care about. This can be gathered through surveys, social media, or past donations. Interest data allows you to create targeted campaigns that resonate with specific donor interests.

• Real-Time Insights: Real-time data refers to information that is available immediately, as events occur. This can include monitoring web traffic, social media interactions, or live updates from email campaigns. The advantage of real-time data is that it allows you to respond quickly to donor actions. For instance, if an alum shows interest in a particular fundraising campaign by clicking a link in an email, you can follow up with personalized content or a phone call shortly thereafter.

• Intent Data or Intent Signals: Intent data provides insights into the likelihood of a donor making a future gift based on their current behavior. This data is collected from various touchpoints, including website visits, content downloads, and email interactions. For example, if a donor frequently visits your scholarship donation page, this could indicate a strong intent to give toward that cause. With this knowledge, you can prioritize outreach to these high-intent donors, increasing your chances of securing a donation.

Making the Most of Your Data

Once you've collected the data you’ll need, the next step is implementation. Here’s how to effectively put your data to work:

• Segmentation: Use your database to segment alumni into groups based on giving history, demographics, and engagement. Tailor your messaging to resonate with each group’s interests.

• Donor Journey Mapping: Map out the typical donor journey for each segment. Understand the touchpoints and interactions that lead to increased giving. Use this information to optimize the donor experience.

• Personalization: Craft personalized communication strategies. Address alumni by name and reference their past interactions with the institution to create a more engaging experience.

• Targeted Campaigns: Develop specific campaigns for different segments. For example, create a campaign focused on younger alumni that highlights the impact of their contributions on current students.

• Predictive Modeling: If you have the resources for it, you can also use predictive analytics to identify potential major donors and forecast future giving trends. This allows you to focus your resources on the most promising prospects and plan your campaigns more strategically.

Data Visualization

Data visualization is essential for making complex data more accessible and actionable. By presenting data in visual formats like charts, graphs, and dashboards, you can quickly identify trends, patterns, and outliers.

Effective data visualization will benefit your staff at all stages of any fundraiser. For example, instead of donations received over the past 5 years, your staff may benefit from being able to view donations received from fundraisers in the summer season specifically. This is just an example and what you need and how you can implement it may vary wildly depending on your CRM.

Turning Data into Fundraising Success

It would be a shame to have all the parts you need only for it to not work as intended. Once you have the data you need and know how you would like to use them, it is time to ensure that your approach is optimized for efficiency. Here are some things to always keep in mind at every stage of your fundraiser:

• Are you using the right kind of tool for your institution?

• Do you need any additional tools or feature upgrades for your fundraiser?

• Is your data centralized? If not, can you get centralized reports from your tools?

• Are your tools/features communicating with each other well?

The key takeaway is that you need to have the right tools and a data strategy to tie it all together. If you are using multiple tools that do not communicate well with each other, you will be wasting time and efficiency when the same set of tools or features could have given you a perfect overview of all your campaigns with just a little bit more planning.