Introducing Dataro’s new Fundraising Intelligence
Katrina – 21 April 2022
Too often, fundraisers do not have the data or reports they need to make timely and insight-driven decisions about their fundraising efforts.
But when harnessed effectively, data and business intelligence (BI) can be the game changer that drives success for your fundraising programs.
Implementing the right BI solution to manage your nonprofit’s data is key.
While there are plenty of BI tools available to help you get a read on your data, they often aren’t tailored to the specific needs of nonprofits and fundraisers.
When done correctly, BI dashboards and reports can help nonprofits uncover opportunities and insights about their donor base that can transform their fundraising programs and drive growth for their organisation. Incorporating live industry benchmarking data into your BI tool can supercharge your insights and identify additional opportunities for growth that you couldn’t get from looking at your data in isolation.
That’s why we created Fundraising Intelligence, a new nonprofit business intelligence tool, combining powerful BI dashboards, visualisations and reports with industry benchmarking, so fundraisers can monitor, measure and grow their fundraising programs.
Built by fundraisers for fundraisers, Fundraising Intelligence is a true plug-and-play BI and benchmarking software solution, with no complex setup required. It is simple and easy to use and doesn’t require specialist knowledge or additional resources to manage (unlike many general BI tools on the market).
The beauty of the Fundraising Intelligence tool is that it connects directly with the nonprofit’s CRM and provides out-of-the-box and downloadable reports to answer the critical questions fundraisers and management have about their organisations fundraising programs, helping people to make effective decisions that support sustainable growth.
Live data & dashboards help fundraisers focus on the future
With your new BI tool in place, the tendency will be to look back at historical data to find patterns and trends. And there’s a time and place for this analysis.
But the true beauty of a BI tool is that it shows you exactly what is happening right now with your fundraising campaigns and programs. Measuring the most critical fundraising metrics live will help you to understand performance, identify change and take actions to course correct or optimise your activities.
Dataro Fundraising Intelligence is broken down into key program areas including Appeals, RG and Management Reporting. You can track changes in key metrics over time or by donor segment. Key acquisition and retention reports help you to better understand who your donors are and let you know how well you are attracting new donors to your cause and what your retention rates are doing in real time. Each reporting area answers a series of questions to help fundraisers better analyse their data, distil insights and draw conclusions to improve performance.
Live benchmarking drives innovation and best practice
Another advantage of Fundraising Intelligence over other BI tools is the inclusion of live industry benchmark data, based on a growing data pool of 75 nonprofits and charities with 20 years of retrospective data.
This allows fundraisers to compare the performance of their fundraising programs against their peers to identify sector-wide trends, and uncover additional insights and opportunities for growth. Benchmarking is available across all Appeal, RG and Management Reporting dashboards and reports, providing a wealth of knowledge about your organisation in the context of the sector. This gives fundraisers the full picture and data-driven evidence to guide your fundraising strategy and program decisions. Benchmarking provides fundraisers with an industry baseline and can be performed against organisations, revenue, number of active donors or organisation cause.
A solution to meet your fundraising needs
So what would you discover with Fundraising Intelligence implemented into your CRM?
Comparing your real-world data with live industry data will help you identify sector trends, establish baseline performance for your programs, discover new programs and areas for growth or identify areas of focus for improvement and increased competitiveness.
Below is an interesting visualisation generated from the data behind Dataro’s Fundraising Intelligence showing the revenue growth and mix over time of a typical charity operating for +20 years. Some interesting patterns emerge including +700% growth in annual giving, the rise of Regular Giving programs and how Emergency Appeals in 2019 drove cash giving to help charities weather the impact of COVID, while regular giving is driving post-COVID recovery.
Is this pattern reflective of your organisation’s performance?
Do you have a strong regular giving program to help de-risk your appeals giving and drive revenue growth into the future?
Are you investing enough resources into your RG program to attract new donors and to prevent churn?
Key insights and trends to note:
2000 – charities raise $1M through single giving (cash 60%, RG 17%)
2005 – see emergence of regular giving approximately 30% of revenue (cash drops back to 50%)
2012 – RG overtakes cash giving as major source of revenue
2015 – RG is now 41% of annual revenue & most important program driving performance
2019 – When COVID hits, crisis appeals provide a boost and RG drops off (RG 37%, Cash 36%)
2019 – we also see the emergence of stewardship / bequests (17%)
2021 – cash giving and RG contribute equally to annual revenue (37%) while stewardship & bequests slowly grows and P2P is in slow recovery
Book a demo of Fundraising Intelligence
Nonprofits and charities who take advantage of business intelligence and benchmarking to lead their decision making will develop a competitive advantage and ensure more effective fundraising strategies are implemented to achieve sustainable growth.
Dataro’s Fundraising Intelligence launches at the end of April 2022.
Request a personal demo with our team today to see how Fundraising Intelligence will help you track your performance and drive program improvements without any fuss while saving you time in reporting.