August 22, 2017 |
Working in major gifts means tracking relationships, points of contact, and data with multiple high-level donors. It’s a lot to keep track off and while it’s easy to get bogged down in the day to day details, major gifts is all about the long game.
Moves Management helps you organize all this information from the stage of your ask, the point person on the prospect, to the projected gift all with a focus on the donors. While building a long-lasting relationship with your major donors is the hallmark of any good major gifts team, those relationships can fall flat without solid data behind them to keep you organized and to inform your strategy.
Every major gifts team needs more than just a series of spreadsheets to keep track of everything. For starters, you should have a dedicated Moves Management report in your CRM that’s doing the heavy lifting for you.
So, let’s start with the basics. The key part of a Moves Management report is the ability to see both big-picture project goals and individual details. In EveryAction’s reporting tool, you can view the number of records in each stage of the major gifts process and access individual record files at every stage. For example, we see there are eight potential donors still in the qualification stage. That can be a red flag, so let’s go deeper into their records to see what’s happening.
Building reports like these are super easy, but it gets better. With EveryAction, you can automate this report to be sent right to your inbox. That means during your monthly metrics meeting all you have to do is open your email, download the report, and you’re ready to go!
Good reporting is just one way to keep your major donors prospects organized. Equally as important is identifying key attributes about your donor prospects such as: their loyalty to your organization, their inclination to be involved with what you do, their engagement on your advocacy asks or email sends, and their capacity to give.
You can probably determine capacity from traditional means of surveying or looking at previous contributions, but one way to make the process even easier is to use tools like WealthEngine.
WealthEngine is a powerful platform for donor prospecting that aggregates data from dozens of publicly available sources (such as real estate holdings, professional affiliations, income information, and records of other charitable gifts) to determine a donor's capacity to give. This data can help a user determine the appropriate ask amount for major gift prospects. Special bonus: EveryAction users can now access this data in donor profiles.
These same tips and strategies apply for your grants management team as well. Although you’re targeting a corporation, it’s just as important to stay organized and have the relevant data about your grant process.
Use data to your advantage. By looking at reports that group your grants into their different phases (e.g. letter of intent, research, proposal submitted, etc), you’ll be able to see any bottlenecks your team is facing and identify any phases in your grant process that need extra attention.
There are many ways you can use the grants management report for your benefit.
– Group by the campaign to see the number of applied for and expected funds going into your individual campaigns.
– Group your data by the number of days until the submission deadline to help you build out a calendar in planning your next steps.
– Group by the grant type to take a look at what aspects of your organization are still in need of additional funding.
When looking at organizing data for grants management, it doesn't need to be anything complicated and you don’t need to be a data scientist to spot patterns or problems. Just a few simple reports that can show you top-level and detailed information to make sure your program is at the top of its game!
Speaking of detailed data - when you build out a new grant in your CRM, there are a couple of key details you want to be sure to include:
– Key dates about the grant process (e.g. grant submission deadline)
– The grand period start and end dates
– Expected notification date
With EveryAction you can easily add these details and more (follow up tasks, files about the grant, contact history and notes, and payment dates).
If you work in grants or major gifts, you’re probably very well acquainted with multi-tasking. You juggle dozens of details and deadlines every day and it can be challenging. Having a solid foundation of good and organized data in your CRM is essential for a job well done.
Want to learn more about all these features in EveryAction? Sign up for a demo here!