When it comes to identifying and prioritizing their donor base, most organizations start by leveraging internal giving data. But what if there’s information that can’t be found by simply evaluating how much your donors give?
For example…Did you know that 44% of donors admit they have the capacity to give more?
How do you identify those donors?
Go Beyond Giving Data to Identify Your Most Valuable Donors
Organizations ready to find the hidden gems in their file often purchase marketplace data, such as wealth overlays and demographic data. Here are seven ways you can begin leveraging third-party data to identify your most valuable donors:
- Always prioritize income producing assets above real estate holdings when analyzing results from a wealth overlay.
- Perform a demographic analysis of your current major donors that allows you to better understand their behaviors and interests. For example — What is the average age and household income of your donors? What other types of organizations to they give to or support? How do they vote?
- Leverage the demographic analysis of your major donors to create major donor prospect personas. This is something you can use to tailor donor-centered communications that speak to them.
- Looking for an alternative to in-depth marketplace data? Forbes.com and Zillow.com are popular, free tools to give you professional and real estate holding insights.
- Do your donors have a family foundation? If so, their giving history should be accessible on GuideStar.org.
- Manta.com is a great site to search if you think your donor may be a business owner. If you know a company name, but aren’t sure if the giver is a principal or owner of the company.
- What memberships or connections do you have in common with your top prospects? Follow the rabbit trail to leverage those memberships to get a meeting with them. For example — connections through a fellow fraternity brother or sorority sister can help you open doors and get past the gatekeeper.
Are you Ready to Find Your Most Valuable Donors?
Today’s technology allows us to collect and analyze a plethora of data about our donors. How can you leverage it efficiently to find them, deepen your relationship with them and upgrade their giving?
What are some common marketplace data sources you use to uncover those “hidden gems”?