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By Chuck Longfield
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Smart Data Are Actionable!
#bbcon
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Not all data are created equal!
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Not all data are created equal.
Smart Data Are Actionable!
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They identify problems worth fixing.
They predict things worth predicting.
They identify opportunities worth pursuing.
They change business practices worth improving.
Identify problems worth fixing
• Which of these data indicate a potential problem? A) 3% of donor records are duplicates B) 3% of donor records have an outdated address C) 3% of donor records are marked as deceased D) 3% of sustainer credit cards are rejected monthly E) 30 donors didn’t receive a thank you last month F) 30 donors who complained last month, didn’t have their interaction ‘logged’ G) 30 more major donors downgraded last month than upgraded
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Smart Data Can Fix Problems!
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Develop a data quality scorecard.
Schedule queries and reports that identify important ‘exceptions’.
Monitor KPI’s that signal important events
Ask ‘what data am I not capturing’ and consider its value and the cost to acquire.
Predict things worth knowing
• Which of these data best predict a planned gift to your non-profit? A) a donor’s wealth B) a donor’s consecutive years giving C) a donor’s total gift amount D) a donor’s call to change address E) a donor’s response to a survey F) a donor’s attendance at an event G) a donor’s sustaining or monthly gift
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Predict things worth knowing
• Which of these data best predict a planned gift to your non-profit? A) a donor’s wealth B) a donor’s consecutive years giving C) a donor’s total gift amount D) a donor’s call to change address E) a donor’s response to a survey F) a donor’s attendance at an event G) a donor’s sustaining or monthly gift
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Smart Data Can Predict Things!
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Append wealth/income – Can’t give if you don’t have!
Donor-specific data, in general, are more valuable than appended data.
Ask donors key questions like ’Where are we on your list of philanthropic priorities?
Capture interactions.
Organize yourself to act on data.
Identify opportunities worth pursuing
• Which of these data indicate a significant revenue opportunity and why? A) 40% of new donors didn’t renew last year B) 20% of multi-year donors didn’t renew last year C) a $500 unsolicited gift came in online last night D) a wealthy, new donor agreed to meet with Executive Director
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Smart Data Can Predict Things!
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Allocate resources based on Return on Investment, e.g. use extra effort to retain higher dollar donors.
Organize staff to respond to important triggers
Use interactions as hurdles to allocate resources
Change practices worth improving
• Which of these data indicate that the best business practices are being employed? A) 3% of donors have their employer match gift B) 5% of new donors make a sustaining gift C) 2% of sustainers stop payment each month D) 80% of $1000+ donors renew giving each year E) 50% of 0-48 mo. donors have given in past 18 mo. F) 5% of revenue comes from planned giving G) 1% of donors gave $1000 or more last year
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Smart Data Can Improve Practices!
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Benchmark metrics with peers.
Identify and replicate business practices employed by more successful peers.
Focus efforts on highest ROI activities.
Remember - You are not unique!
Smart Data Are Actionable!
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