It has been proven that data-driven decisions result in fewer risks.
This is because such decisions require more science, which is a factor in fueling growth, especially for nonprofit organizations. Thus, a nonprofit that can gather data, go over it, and interpret it into information that can show how the donors behave can become successful in the fundraising world.
Let’s take a look at four key benefits from having a solid data integration strategy.
4 reasons nonprofits should use data integration
Able to identify your donors
Migrate data seamlessly
Monitor work efficiency
1. Able to identify your donors
In order to achieve a successful nonprofit organization, you need to combine your key data strategically. This will help you target potential donors better, allowing you to make your engagements more personalized.
There’s more than the demographics of age, education, ethnicity, or how much you earn. It’s about understanding your existing and prospective donors.
Through data integration, you can easily monitor donors who gave the most by segmenting them based on the amounts they gave. You also get to learn their reason for giving such amounts and other things that can help you market to your prospects.
Once you get to know their stories and their motivation, you now have the key tools in building a relationship that will support your nonprofit organization in the long run.
2. Migrate data seamlessly
With an integration platform, you can easily integrate your key information from your CRM to your data analysis or accounting software.
This saves you time from manual data entry, which can take many of your working hours and money from hiring someone just to enter data in your existing software. It also helps avoid human errors, such as duplicate entries or typos.
Data integration allows nonprofits to have a more efficient flow of business processes, so it's important to find the best data integration software solution for your company's needs.
3. Monitor work efficiency
Having integrated data allows you to easily know who among your funders are paying the highest so that you will be able to personalize your marketing efforts.
If you formulate an effective data integration strategy, you will get to track the dates when your donors are most likely to provide you funds and the time of the day they are most active. This information can then be utilized to create and run ads to get the attention of prospective donors.
The more effective your strategy, the better your work. This can be determined by analyzing your integrated data.
4. Transparent reporting
All of us look for measurable results – not just unreliable figures. Regarding donors, they make sure that the fundings are being used right.
With data integration, information is fully integrated, making it easy for nonprofit organizations to present results through reporting. With easy-to-understand reports, your nonprofit can get more funding – as corporate donors prefer to see transparent impact metrics. Outcome measurement has become one of the required activities for nonprofits to consider.
In running a nonprofit organization, one must rule their own data.
Through data integration, you can get access to what you need the most – namely, the outcomes you expect, significant details about your organization, and your funders. In addition, integrating your data can help in streamlining your processes.
Jeff Badal's career as a content writer has spanned 5+ years, writing SEO optimized articles for all types of business industries including Cazoomi, an iPaaS startup, LogicBase Interactive, Fligno and ACADEO, the No. 1 blog in Cagayan De Oro City, Philippines.