Analytics Buffet – Predictive Modeling and Nonprofits
I don’t know about you, but for me it is always tough to decide what sessions to attend at conferences. Today I am at the DMANF NY Non-Profit Conference. It is like being in a grocery store when you are hungry – I just want a slice of EVERYTHING.
Hungry for knowledge – yup that’s me – and probably you too. This morning I decided to snack from the analytics menu with Predictive Modeling and learn how to Stop Mailing So Much! My servers were Lisa French, Director, Defenders of Wildlife and Caity Craver, CEO Donor Trends.
I munched on a bowl-full of case studies mixed with results from Defenders of Wildlife about how they used the science of predictive modeling to maximize their mail efforts, minimize costs and acquire more donor dollars. Savings to net revenue, more productive contact cadence, and additional engaged higher value donors, yummy!
I slurped up refreshing tips on how to decide what donors or prospects get which of your mail campaigns. Here is a sip for you: Rank your campaigns –from best performing to worst. Take a look at the scores (if you are modeling) or engagement metrics (if you are not there yet) and ensure that the folks that score at the bottom only get your best performing mailings!
If you are not using or considering using predictive modeling – you are allowing anecdotal and human brain assumptions to decide targets. It is like baking a cake without a recipe or accurate measuring cups – you never know what results you are going to get or how to modify it later. Use SCIENCE (to maximize your mailing efforts. Science = predictive modeling.
Predictive modeling is worth considering ordering next time you are at the analytic buffet if it is not already a favorite of yours.
Wow, my brain is full, my tummy is howling louder than a wolf – time for a granola bar!