How Much is Bad Data Costing Your Organization?
Published
In the 1996 classic movie, Jerry Maguire, the movie’s protagonist Jerry, must convince star receiver Rod Tidwell to remain his client by screaming at the top of his lungs, “SHOW ME THE MONEEEEY!!!!”
It’s been over two decades since the release of Jerry Maguire, and the same conversation is occurring at most nonprofit organizations. The Director of Development (Rod Tidwell) wants the Development Officer (Jerry) to show them the money.
It’s the industry’s worst kept secret, but many nonprofit fundraising professionals are under an intense amount of pressure to meet year-end fundraising goals with a limited number of resources available at their disposal. To mitigate this lack of resources, many nonprofit organizations are investing their capital in a critical component of fundraising success: data health.
Quite simply, your database is your organization’s most valuable asset, and with increasing regularity, many fundraisers are taking a hands-on approach in protecting the integrity of their data. By staying up to date on best practices, and leveraging data services like Blackbaud’s Credit Card Updater, the successful nonprofit fundraiser understands prioritizing data health, and making better use of data, significantly increases the ability to develop more meaningful relationships with their donors. Sadly, not everyone is on board, which begs the question…how much money are you leaving on the table because of bad data? What is the untapped potential in your nonprofit’s database?
Untapped Potential: The Case for Data Health is a 2018 report commissioned by the Blackbaud Institute and reveals the true dollar value of good data practices.
Key findings include:
What about your organization? Are you showing them the money? Share your tips and insight into data health below.
It’s been over two decades since the release of Jerry Maguire, and the same conversation is occurring at most nonprofit organizations. The Director of Development (Rod Tidwell) wants the Development Officer (Jerry) to show them the money.
It’s the industry’s worst kept secret, but many nonprofit fundraising professionals are under an intense amount of pressure to meet year-end fundraising goals with a limited number of resources available at their disposal. To mitigate this lack of resources, many nonprofit organizations are investing their capital in a critical component of fundraising success: data health.
Quite simply, your database is your organization’s most valuable asset, and with increasing regularity, many fundraisers are taking a hands-on approach in protecting the integrity of their data. By staying up to date on best practices, and leveraging data services like Blackbaud’s Credit Card Updater, the successful nonprofit fundraiser understands prioritizing data health, and making better use of data, significantly increases the ability to develop more meaningful relationships with their donors. Sadly, not everyone is on board, which begs the question…how much money are you leaving on the table because of bad data? What is the untapped potential in your nonprofit’s database?
Untapped Potential: The Case for Data Health is a 2018 report commissioned by the Blackbaud Institute and reveals the true dollar value of good data practices.
Key findings include:
- Online giving is growing, but on average, 53% of records in a nonprofit’s database are missing email addresses*
- The average nonprofit could be wasting thousands of dollars on each mailing thanks to bad addresses
- Using an automated credit card updater service can help nonprofits retain thousands of dollars that might otherwise be lost on declined transactions for sustained gifts
What about your organization? Are you showing them the money? Share your tips and insight into data health below.
News
Organizational Best Practices Blog
11/14/2018 3:00pm EST
Leave a Comment