Did you know that tuition revenue only covers between 50% and 62% of the operating costs of 4-year institutions? For many schools, successful fundraising campaigns are a crucial way to bridge the gap. To meet your school’s growing budgetary needs, it helps to meet—if not exceed—your fundraising goals.
Working with a clean, precise database can help higher education institutions reach their fundraising goals more efficiently. Here are three tips to help you meet your fundraising goals:
1. Look to your alumni for support.
Alumni giving plays a significant role in the financial success of universities, accounting for 23% of annual funds raised by U.S. universities. However, a staggering 92% of alumni aren’t making regular financial contributions to their alma maters. That’s a massive untapped resource that can greatly benefit fundraising efforts.
Updating your supporter data can help you clean up your alumni database so you can identify and target alumni with precision. That way, you can ensure that your appeals reach those most likely to donate. With accurate and up-to-date data, you can effectively engage alumni, encourage them to contribute, and maximize your fundraising potential.
2. Re-engage past donors.
Retaining donors is 5x more cost-effective than recruiting new ones. However, reaching past donors is challenging with outdated or incomplete contact information.
Accurate and comprehensive donor data is necessary to foster relationships and secure support. By cleaning up your database and appending missing or outdated information—such as email addresses, phone numbers, or mailing addresses—you can re-engage with long-lost donors effortlessly.
3. Place donors at the center of your message.
Donors want to feel valued and connected to the causes they support, so it’s important to cultivate relationships with them. One way to accomplish this is by personalizing your communication.
Addressing supporters by their names in your email outreach and acknowledging their past contributions can make a significant impact. Make your messaging more donor-centric by illustrating the potential of future gifts, highlighting the impact of past donations, and demonstrating the results of their giving.
Craft donor-centric messages that resonate, foster stronger relationships, and inspire ongoing contributions—but don’t forget to show your appreciation for their support!
A clean and up-to-date database can make reaching donors much easier and maximize the success of your campaigns. If you need help cleaning up your donor database, consider a batch append. Then, leverage your accurate data to tap into the potential of alumni giving, re-engage past donors, and create personalized messaging that resonates with supporters.