Increasing Nonprofit Revenue With Fundraising Analytics

American donors gave a record $471B to charitable causes in 2020. But, how much more wealth could’ve been unlocked if fundraisers knew precisely how much each donor was willing to give through using fundraising analytics?

As a fundraiser, preparing for an appeal presents a unique set of challenges. For example, you wouldn’t ask a major donor for a $25 donation, just like you wouldn’t ask a first-time donor to sign up for planned giving. 

So much is riding on who you ask, how you ask, and how much you ask for.

Fundraising KIT helps you raise more by introducing advanced fundraising analytics tools to your existing CRM. Our software analyzes every data point in your CRM to provide accurate predictions and actionable insights into donor behavior. 

KIT’s tools maximize your chances of making an ask at the right time, in the right way, and for the right amount. But what exactly does this mean?

This article will explore exactly how KIT’s fundraising analytics tools uncover opportunities in your database, optimize your appeals, and guide your day-to-day fundraising strategy.

Uncover Opportunities in Your Data

Your donor data is an untapped resource! And, with KIT, you can find new opportunities in your existing database by identifying more major donors and accurately forecasting revenue.

Identify More Major Donors

Because 88% of fundraising revenue comes from a mere 12% of donors, identifying and retaining major donors remains a number one priority for nonprofits. Additionally, without a handful of major donors in your organization’s pipeline, you’d have to work harder to raise comparable amounts. 

However, with KIT’s Major Donor Score feature, you can identify donors in your database with the capacity and interest to become your next major donors.

This feature analyzes your donor’s giving histories and demographic data to score them from 1-to-100, with 1 being the lowest score and 100 being the highest. Then, you can identify your most promising major donor prospects and tailor a solicitation strategy to increase their impact.

When combined with other fundraising analytics features such as Time of Year and Best Way to Reach Out, which can be viewed in each donor’s profile, you’ll always craft the perfect appeal and spend less time doing it.

These automatically generated insights and predictions ensure that you can treat every donor like a major donor.

Forecasting Revenue and Trends

Forecasting revenue streams is essential for running a successful organization. 

Will you hit your fundraising goal? Can you afford to hire another fundraising officer? And, how much do you need to raise to fund a new program?

These are all questions that can be answered with KIT’s Donations Forecasting feature.

While it’s not exactly like looking into a crystal ball, forecasting gives you accurate insight into future revenue likelihoods based on past performance. Moreover, by tracking these trends with KIT, you can spot opportunities for new programs, fundraising campaigns, and so much more. 

Optimize the Ask

Knowing the perfect time to make an ask and, more importantly, the optimal amount to ask for increases donation amounts and provides a more personalized donor experience for your supporters. 

Always Ask for the Right Amount

We know that asking a donor who regularly contributes $2,500 for a $200 donation will decrease their average gift amount. However, if you ask that same donor for a $3,000 contribution, they’re much more likely to rise to the challenge and increase their generosity.

With KIT’s Smart Ask feature, you’ll always know the optimal amount to ask for. This feature analyzes each donor’s giving history and capacity to recommend an ask amount that subtly increases the value of their donations over time.

Always Ask at the Right Time

KIT’s AI-powered fundraising intelligence tools give you an unmatched overview of who each donor is and how engaged they are with your fundraising efforts. 

For example, KIT’s Time of Year feature studies donor giving trends to identify the months when your contacts are most likely to donate. This feature allows you to cut back on hours of research prior to an important appeal. Just look at a donor’s profile, and you’ll have all the information you need.

Fundraising Analytics Can Guide Your Day-to-Day Fundraising

As a fundraiser, your goal is to build long-lasting relationships with your donors. However, it can be easy to get side-tracked by your never ending to-dos.

There’s an adage that says, “work smarter, not harder.” KIT does exactly this by outlining where to focus your efforts so you can avoid tedious tasks and raise more. Use KIT’s automatically updated donor profiles you can to take advantage of opportunities as they become available. 

This way, you’ll transform your work process into an efficient, automated, and opportunistic strategy that saves while leaving you stress-free. 

Fundraising analytics are the key to creating deeper donor relationships and raising more. With Fundraising KIT’s AI-powered features, you can always ensure you’re asking for the right amount, in the right way, every time.