A successful capital campaign is the ultimate achievement for a nonprofit fundraising team.
It involves careful planning, intense preparation, and significant teamwork. Successful capital campaigns also involve the use of data and analytics. This trend is accelerating, with data and analytics poised to become a necessary component of every successful capital campaign.
Enriched Analytics – insights and predictions made possible by matching a nonprofit’s contacts and donation data with billions of third party data points – provides fundraising, development, and advancement teams a powerful tool to increase the success of their capital campaigns.
What is a Capital Campaign?
A capital campaign is a focused fundraising effort with a (1) defined start and end date and (2) a defined goal or set of goals.
Let’s look at each component:
Focused fundraising effort. A capital campaign involves significant effort by a nonprofit and is expected to yield significant donations as a result.
Defined start and end date. A capital campaign is distinct from a nonprofit’s normal, ongoing fundraising efforts. Unlike ongoing efforts, a capital campaign spans a distinct period of time, which allows for greater focus by the nonprofit and greater attention to and by potential donors.
Defined goal or set of goals. A capital campaign raises money to achieve a specific high impact outcome for the nonprofit.
Capital Campaign Planning with Enriched Analytics
Enriched Analytics is crucial as fundraising teams begin their capital campaign planning. Using the insights and predictions gleaned from donor databases and pervious donation history will help nonprofit organizations fuel their campaign with that matters most so that they may speak to their potential campaign donors with more intention. With Enriched Analytics, organizations are able to dig deep to uncover what really matters including:
Develop Major Donor Personas
With Enriched Analytics, fundraising teams can identify the primary persona, secondary persona, and emerging persona (who is giving now that wasn’t giving before) of current and past major donors and understand how they give, how they’re acquired, and what locations contain more potential donors like them. (High Value Donor DEAR) With this information readily on the table, fundraising teams are able to optimize your capital campaign strategies for major gift donors with confidence in their next steps.
Learn from Past Capital Campaigns
With Enriched Analytics, development teams can analyze past campaigns to understand which donor prospects were responsive to your messaging, which donor prospects gave more, and which donor prospects did both. (HEAR)
Capital Campaign Toolkit with Enriched Analytics
Enriched analytics provides fundraising teams the a plethora of tools during capital campaigns. Check out some of our favorite tools that are guaranteed to deliver you a better understanding of your donors so that you may reach them effectively.
With enriched analytics, advancement teams can append wealth scoring and giving capacity to existing and prospective donor records to predict who has the capacity to give. (Advanced Predictions)
With enriched analytics, fundraising teams can create a custom model from existing major donor data and score prospective major donors to predict who has the affinity to give to particular campaigns or causes. (Custom Predictions)
By understanding prospective donors’ wealth/giving capacity and predicted affinity, a development team can determine which prospects have the highest propensity to give to their cause. In addition, a development team can easily prioritize outreach efforts by creating a donor pyramid/matrix using these tools. (Advanced Predictions + Custom Predictions)
Incorporating Enriched Analytics into Capital Campaigns
Here are concrete steps a nonprofit can take to harness the power of Enriched Analytics in their next capital campaign.
Step 1: Partner with an Enriched Analytics Provider
Enriched analytics are provided to nonprofits by agencies, consultancies, data platforms, and dedicated cloud-based software (such as boodleAI).
Step 2: Educate Users and Stakeholders
As with any new technology, adoption of enriched analytics by internal users and stakeholders requires an understanding of how it works, when it’s appropriate, and why it should be used.
Step 3: Evaluate Results and Iterate
Enriched analytics often required iteration and improvement before reaching its full potential. Fundraising teams should carefully evaluate how campaigns perform and use those results to improve future campaigns through enriched analytics.
By harnessing the power of Enriched Analytics, nonprofits can create capital campaign strategies geared toward producing greater and faster results.
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boodleAI is a Cloud-Based Provider of Enriched Analytics for sales, marketing, and fundraising teams. Enriched Analytics are insights and predictions made possible by matching an organization’s contact and transaction data with billions of third party data points. Sales, marketing, and fundraising teams use enriched analytics to better understand customers and donors, analyze sales and donations, gain insights into specific contacts, and predict what contacts will do. Guidon, boodleAI’s Cloud-Based Software, makes Enriched Analytics available to every organization and every budget through usage based pricing. Visit boodle.ai.