Whatever the question, the answer to successful fundraising is understanding the people supporting your charity – and to do this, you need to use your data.
Your data is essential if you’re going to both find the right supporters to reach out to and engage with them properly too. With an informed view of your supporters, you can get to grips with what makes them tick and make sure your campaigns appeal to them.
It’s no wonder, then, that 51% of charities rank using data and insights more effectively as a priority.
However, despite this, many charities still find charity data analysis to be intimidating and technical. But rest assured there are many ways to turn your data into action, make informed decisions, and gain insights into what drives your supporters.
With that in mind, read on to discover what tools UK charities use for data analysis and how you can use charity data analysis to understand your supporters…
4 ways to use charity data analysis to better understand your supporters
1. Segment your supporters for better targeting
Segmentation is one of the most important things you can do to get to know your supporters and bring your audience to life.
From behavioural models to attitudinal models and using data from your CRM as well as external data, data analysis tools enable you to segment your audience and group your supporters based on factors such as age, communications preferences, levels of engagement, and even donor interests.
Detailed supporter profiles provide insight into your audience and what makes them tick, as well as discover opportunities and ways to interact with them, which means you can then create targeted campaigns and engage with your supporters in the most appropriate way.
2. Use analytics to understand donation habits
Another way to use charity data analysis to understand your supporters is by using analytics to understand your supporters’ donation habits.
Doing so can help you get to grips with things such as past donation amounts, frequency of giving, recency of giving, lifetime value, and total ROI per supporter, enabling you to gain insights that can help to guide your fundraising programmes.
Predictive analytics, for example, can help you to identify potential high-value donors and long-term supporters, which will then enable you to prioritise who you talk to and how you talk to them and optimise your fundraising efforts accordingly.
3. Understand supporter habits to find out where to reach them
Thorough data analysis also enables you to understand your supporters’ habits so you can engage with them as effectively as possible.
For example, do your supporters respond to email communications? Or do they prefer print? Is there a social media platform they use the most, and if so, when are they likely to log on?
By using data analysis, you can understand how relevant each donor touchpoint is so you can determine which channels are right for your marketing, allowing you to tweak your marketing strategy accordingly.
Gathering information on when, where, and how supporters use different channels can help you understand which marketing and social media strategies will engage with your audience and make sure you talk to them via the right channels.
4. Consider your metrics for a deeper understanding
Another way to use your charity data is to look closely at your campaign metrics to identify how your supporters are currently responding to your campaigns so that you can make improvements for the future.
Using charity data analysis and metrics such as campaign response, click through rates, and even churn rates enable you to get under the skin of your campaigns – and your supporters! – so you can figure out which campaigns are performing and where they aren’t quite hitting the mark.
When you pinpoint what resonates with your supporters and get to grips with how and why they currently engage with your campaigns, you can improve targeting, response rates, prompt levels, and revenue in the future – and identify any cross-selling opportunities, too.
Ready to use your data to understand your supporters?
If you want to understand your supporters and are keen to find out what tools UK charities use for data analysis, you’ve come to the right place.
At Wood for Trees, we help make things happen through data analytics, insight, and systems. Our team of awesome analysts are experts in modelling and presenting your data in enlightening ways to drive in-depth insights and effective actions.
We’ll use a range of tools and techniques such as post-campaign analysis, segmentation, machine learning, and forecasting, combined with storytelling and data visualisations, to help you unlock the power of your data so you truly understand your supporters and what drives them.
If you’d like to find out more about how we can help, get in touch with our team today.
