SRM and data management Flashcards
Distinction - ORGANISATIONAL EFFECTIVENESS
Can you give an example of where you have used data to achieve a strategic development?
Can you give an example of how accurately recording data can help inform fundraising planning?
How have you used data to review or inform fundraising.
How have you used or presented data on performance of fundraising activity
STRATEGIC DEVELOPMENT
ORGANISATIONAL EFFECTIVENESS
Data is crucial in informing fundraising activity. It not only gives you an understanding of the present but provides historical context and predictions for future fundraising.
We are a young organisation so gathering data early is crucial to set the organisation up for fundraising success.
There are two levels of data that I collect on our CRM.
Prospect research and due diligence and updates on fundraising activity.
Through the opportunities feature on RE I log every stage of the new business cycle with all my prospects.
This pulls through really useful insight and metrics on how pipelines are performing which has helps to strategically inform my fundraising planning.
We can see how many opportunities are qualified to understand how robust the pipelines are to achieve the target.
I can see how long it takes to take a prospects from identified to contract.
I can see how many opportunities were unsuccessful and analyse trends within this data.
For example, COTY was extremely unsuccessful in 2023. This was analysed against a background of internal and external factors such as brand awareness, negative press about the NHS. That informed our decision to shift approach and focus on strategic opportunities in 2024. I disqualified many cotys for this year and this has allowed me to be a more efficient and effective fundraiser to help the organisation reach its financial and impact goals.
CRM helps draws reports and makes it efficient to analyse these trends with different filters and metrics. In years we’ll have that and look back at the time and developments taken to be successful in that space.
What other data would you need to record to inform fundraising activities.
Consequence of not recording it.
Opt-in preferences – it is important to understand the consents around contacting supporters to make sure we are not missing an opportunity to reach them or alternatively violating their communication preferences.
Giving history – it is really important to have an accurate record of the supporters gifts so we can thank them, it also gives us a picture of their relationship with the charity, and it indicates opportunities to maximise their support.
Contact details – if supporters contact details aren’t updated e.g. new email address or telephone number it means we cannot communicate with them to update them on the impact of their gift, what the charity is doing, and steward them to the standard we would all other supporters.
Consequences of not is not giving the standard of stewardship or maximising opportunities to engage supporters.
Compliant data collection and consequences.
All organisations, be it commercial or non-profit, are required by law to collect, use and store data in a compliant way with GDPR. If data is misused, stolen or disclosed incorrectly there could be serious consequences.
If there is a data breach, the charity will be fined and experience financial loss which is usually thousands of pounds that would support beneficiaries.
It can also harm a charities reputation because supporters may lose their confidence and trust in the organisation with their data, and distance themselves from the charity. They also may feel disappointed and put off by the fact their money could be covering an avoidable fine.
Another reason is that if data is not stored or recorded consistently across the organisation, we could duplicate work or step on people’s toes. Fundraising use Raisers Edge but other directories don’t. An example is when other directorates who engage with corporate partners approached a corporate who did not meet our due diligence requirements, which could have been avoided if raisers edge was used consistently.
