You could discover more about your donors than you ever could with even the most sophisticated CRM.
With AI, that is. Here are just three things AI can tell you about your donors:
1. AI can tell you who your donors actually are.
At the very least, AI can apply algorithms to clean your database, giving you a better idea of who your donors actually are.
In less time and at a lower cost, AI can consolidate, deduplicate, and standardize donor data better than current methods, which often rely heavily on human-initiated searches and manual edits. AI accomplishes this task with the patience of a machine and “learning” over time from feedback provided by the nonprofit.
When your CRM’s data is fragmented, running reports and queries are not as useful as they could be if the data were clean. By cleansing your database, AI can help you see your trust list of donors.
2. AI can enhance your donor data.
AI can take hundreds of data points based on propriety information and public records to provide you with identity resolution. This can turn your “skinny data” into “long data”. Meaning, AI can help you understand a lot more about your donors – who they really are in the real world – in little to no time.
For example, AI can enhance, visualize, and segment your distribution lists in ways that would otherwise be difficult or impossible. This allows nonprofits to send tailored messages to specific segments, increasing the odds of success.
3. AI can help you analyze your donor data.
When it comes to analyzing your donor data, AI can do the heavy lifting for you. AI arrives at these recommendations by analyzing data points and connections that would be impossible for a human to match without an unrealistically high investment of time and effort – and do so faster.
Sure, your development team could memorize complex formulas to plug into your CRM or you could hire a firm to manually do that for you. But AI can do it for you faster and more accurately. Not to mention, when you want to analyze new data points about your donors with AI, you will not need to wait around for an entire team of people to do so.
In other words, AI can more quickly analyze donor data to discover things like, who is the most likely to donate again, increase their giving, and be successful in raising funds.
The key takeaway is this: there is significant donor data that is locked away and AI is one of the most time and cost-effective keys to accurately unlocking it.
Once unlocked, it is the human-AI team that makes all the difference. AI develops and applies algorithms to ingest, clean, enrich, and then analyze large amounts of donor data in order to recognize patterns and give non-intuitive recommendations. Then, the human fundraiser applies judgment and context to select from those recommendations the right donor and message. This human-AI team is the future of donor development.
Are you ready to take the next step in utilizing AI to learn more about your donors? boodleAI specializes in teaming up with nonprofits and supporters to discover the next individual who is most likely to donate. Sign up to learn more now.