Target Analytics Offering Provides Nonprofits Insights into Donor Behavior
Blackbaud has announced the availability of Loyalty Insights and Lapsed Insights data services, designed to help nonprofits better understand their prospective donors based on behavioral segmentation. The services are the latest offerings from Target Analytics, a Blackbaud company, which offers solutions for donor acquisition, prospect research, donor benchmarking, custom modeling, and data enrichment services to more than 6,000 nonprofits.
"With an understanding of the loyalty characteristics of prospective donors, nonprofits are able to optimize their direct marketing fundraising strategies around donors with high long-term value potential," said Richard Becker, president of Target Analytics, in a statement. "Our unique ability to generate a holistic view of a donor's historical giving allows Target Analytics to provide our clients insight to more effectively target high-value prospects and significantly improve campaign return-on-investment."
Target Analytics has a nonprofit cooperative database of giving behavior based on actual transactions from hundreds of participating organizations and billions of donations. The new Insights data services leverage this database to assess an organization's prospective donors against all other organizations they support, using numerous statistical measures and rankings.
"Our great enthusiasm for Loyalty Insights stems from a long-held conviction that loyalty, as the key predictor of donor and donor base value, is far more important to planning near- and long-term fundraising than even cumulative annual giving value," said Christopher Dann, president of Drakes Bay Fundraising, who is piloting the service with several clients. "This value goes well beyond fundraising to knowledge today's CEOs, CFOs, and even board members should have."
Loyalty Insights helps nonprofits understand who their most active loyal donors are so they can provide more focused time and attention to maximize fundraising results. A nonprofit's donors are assessed against the cooperative database and segmented into one of seven actionable, behavioral groupings, called Loyalty Insights, ranging from Not That Into You to Best of the Best, providing the organization a clear understanding of which donors have the strongest affinity for its cause. The result is a report that highlights donors' specific level of support to a particular organization compared against all the others, enabling fundraisers to determine how to develop ongoing engagement strategies.
"Target Analytics Loyalty Insights couldn't come at a better time - as acquisition efforts stagnate, recognizing, cultivating and holding on to the donors you already have is more important than ever," said Susie DeCarlo, senior strategist with Mal Warwick Associates. "Loyalty Insights gives us a new tool to enhance traditional RFM strategies and identify targeted segments of donors ripe for a sustainer invitation, planned giving ask, and upgrade strategies."
Lapsed Insights helps nonprofits identify and target lapsed donors (36-120 months) providing a basis from which to develop specific campaign strategies to reactivate those donors. Like Loyalty Insights, a nonprofit's file is assessed against the cooperative database and is segmented into actionable, behavioral groupings based on their likelihood to reactivate. The resulting groups highlight a combination of current giving behavior to other organizations as well as past giving to that particular nonprofit, enabling insight into strategies on how to reengage those donors.