Managing a nonprofit is, simply stated, complicated. Nonprofits face a host of challenges, everything from chasing precious unrestricted donations to accessing capital to employee burnout. Arguably, however, each of these boondoggles is the result of another, protracted challenge—the inability to effectively leverage data.
THE HUNT FOR MEANING: MAKING SENSE OF NONPROFIT DATA
Nonprofits need data, of course. But what they need even more are effective strategies to extract meaningful insights from those data. And the stakes couldn't be higher, because hiding in those numbers are the answers that can spell the difference between success and failure: how can we show donors we're doing what we say we're doing? How can we demonstrate we have a smart investment strategy? And, of course, how do we improve marketing to achieve our top goals?
Apparently, most nonprofits don't have convincing answers to those questions. According to Fast Company, for example, more than 75% of nonprofits report that, although they collect data, they can't make sense of it in ways that move their organizations forward, whether that means effective goal setting, enhanced marketing strategy or accurate measurement of results.
CATCHING ON TO THE "DATA CRAZE"
By leveraging the best data analysis practices, nonprofits can get the answers they need to improve every aspect of their operations. As HubSpot notes, an increasing number of nonprofits are beginning to understand that the only thing standing between them and successful outcomes is smart data analysis:
"Many organizations and schools are catching on to the data craze in the fundraising departments. And with data comes analytics -- and analyzing all the information you're collecting…Both schools and nonprofits alike can use the power of data to increase their fundraising department's efficiency, and engage the most-likely donors effectively."
HUBSPOT TO THE RESCUE
Fortunately, HubSpot, the undisputed inbound and digital marketing thought leader, offers a wide array of tools and advice to help nonprofits make sense of their data and, as a result, achieve their principal marketing and business objectives. They can be especially helpful in improving fundraising efforts. Specifically, you can use HubSpot to:
- Create realistic goals: your credibility with key stakeholders depends on your ability to establish fundraising goals you can reach. HubSpot can help you analyze prospective donor data to create "SMART" (that is, specific, measurable, attainable, realistic and time-bound) goals.
- Segment your market: the needs and concerns of donors change from the top to the bottom of your "sales funnel." That means you need an effective approach to market segmentation. HubSpot offers a host of smart tools to build buyer personas that resonate with your audience, as well as to effectively nurture leads throughout your pyramid.
- Personalize communications: prospective donors want to know they're important to your nonprofit. The best way to show your appreciation is to personalize emails and other communications channels, demonstrating you know how donors are, and what they care about. HubSpot can show you the best ways to personalize communications, building donor loyalty and trust.
- Accurately measure results: the HubSpot inbound model is one of continual improvement based on detailed measurement of results. You can use one or more of the several analytics resources they offer (such as the Campaign Analytics Tool) to see which aspects of your fundraising campaign are working, which need tweaking, and which you might want to abandon.
CONCLUSION
HubSpot is arguably the best partner you can have to increase your nonprofit's impact, reach and effectiveness. Said differently, HubSpot can help ensure your nonprofit achieves its principal marketing objectives—and realizes your nonprofit's mission.
That means "making all the right moves," but it also means avoiding some of the common data pitfalls that can doom a campaign—everything from over-relying on data at the expense of internal network intelligence to deriving the wrong conclusions from the right data. That's where we can help.
To learn more about the ways our HubSpot Administrators, implementation and digital marketing services can help you get the most out of your HubSpot account—and take your nonprofit to the next level—schedule your free consultation today.
