Making the ask is always a challenge as a fundraiser. But what about making the wrong ask? 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.
Donors gave over $450 billion in North America alone in 2019. But, how much more wealth could have been unlocked if fundraisers knew precisely how much each donor was willing to give?
KIT helps fundraisers raise more money with less effort. By harnessing the power of machine learning, our software works to analyze every single data point in your CRM to provide you with accurate predictions and actionable insights on your donors.
This maximizes your chances of success and lets you get back to what’s important: raising more money for your cause.
Our Fundraising Intelligence tools aggregate donor data within your CRM as well public data to make suggestions based on:
- Wealth insights
- Donation history
- Donation frequency
- Campaign similarities
- Contact demographics
- Donation forecasting
- And dozens of other factors
KIT’s analysis provides accuracy on predictions beyond what is possible for an individual. Using our sector-leading software, you can make every decision confidently, knowing that your work has been optimized from start to finish. Here are three ways KIT helps fundraisers.
1) Uncover Opportunities in Your Data
Your donor data is an untapped resource you’re likely not utilizing to its full potential. Whether to plan more effective solicitations, pinpoint your major donors, or forecast your future campaign efforts, KIT helps you find new meaning and opportunities in your existing dataset.
Identify Major Donors
While micro philanthropy is on the rise, finding, stewarding, and retaining major donors remains a priority for fundraisers. That’s because 88% of donation revenue comes from a mere 12% of donors. Without a handful of major donors in your organization’s pipeline, you’re going to have to work harder to raise comparable amounts.
Using artificial intelligence and wealth screening, KIT helps major gift officers understand each donor’s capacity to give.
When combined with other features such as Time of Year and Best Way to Reach Out, you’ll know how a donor prefers to be contacted and understand any outside factors that may influence their decision making. Factors like the weather, for example.
This automatic personalization allows you to treat every donor like a major giver.
Forecasting Revenue and Trends
Forecasting and predicting revenue streams is an essential component of running a successful organization.
Will you be able to afford to hire another fundraising officer? How much extra do you need to raise to fund your next program? Or how long will you be able to keep your doors open for? While it’s not the same as staring into a crystal ball and predicting the future, forecasting gives you a good idea of what your organization can do and when. By tracking these trends within KIT, you will gain insight into where your donations are likely to come from this year and focus your efforts where they’re needed most.
This data is presented automatically through customizable Key Performance Indicator (KPIs) Dashboards in easy-to-digest and easy-to-share visualizations that allow for better decision-making across your organization.
2) Optimize the Ask
Knowing the perfect time to make an ask and, more importantly, the optimal amount to ask for, can increase your donations, help you organize your schedule effectively, and forecast your revenue for budgetary purposes.
We know that asking a donor who regularly contributes $2,500 for a $200 donation will decrease your gift size. Still, if you ask the same donor for a $3,000 contribution, they’re much more likely to rise to the challenge and increase the value of their generosity.
The same works in reverse.
If you ask a recurring donor who donates $50 monthly for a $2,000 donation, likely, they will not increase their gift size, and you run the risk of losing them entirely.
Knowing the who, what, when, where, and even why’s of your donors’ capacity to give will not only increase your success as a fundraiser but build deeper, personal relationships with your constituents.
While the logic makes sense, the time spent determining this for every single donor is an impossible commitment. Luckily for you, this information is at your fingertips using a mixture of comprehensive contact insights.
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.
By predicting and prioritizing exactly which donors are most likely to give, you can instantly compile a list of potential supporters and take the guesswork out of building your next campaign.
This will streamline your communications, allowing you to make strategic donation requests for your current and future fundraising initiatives.
3) Guide Your Day-to-Day Fundraising
As fundraisers, your goal is to build long-lasting relationships with your donors. However, it can be easy to get side-tracked by your many to-do’s.
There is an adage that says, ‘work smarter, not harder.’ By finding out exactly where to focus your fundraising efforts, you can avoid tedious or menial tasks and amplify your chances of success. Use KIT’s real-time newsfeeds and dashboards to take advantage of opportunities as they become available.
You will transform your work process into an efficient, automated, and opportunistic machine that saves you time and decreases stress.
Are you ready to unlock the power of your data? You can learn more about the opportunities waiting for you by booking a demo.