Nonprofit organizations are choosing to look at new indicators of donor wealth in these days of changing giving patterns. Before the current recession, it was easy to spot wealth and target donors: assets and age. Older folks with big houses, expensive cars, and fancy vacations were generally good targets. Now the wealthy are more savvy about how they spend and give, and the signs they might make good donors are not as obvious.
What should an organization look for when targeting today’s donors? According to a special report in The Nonprofit Times, charitable groups should consider:
- Data about the person’s activity with the organization over time. For example, if they have long been a loyal volunteer, they may be ready to donate.
- Individual data about prospects, vs. information about groups. Many wealthy people are business owners. Evaluate if their business is doing well to know more about their giving ability.
- Assess their political giving, which may indicate loyalty to a particular cause.
- Check your competition. If a donor is giving to a competing organization, maybe they would also be willing to help your group.
How can non-profit organizations utilize donor data most effectively? Blytheco can help your group gather and analyze the data that can help grow your group and support your cause. Contact us.