One prerequisite before signing the dotted line and purchasing a marketing automation system is making sure that your data quality is perfect. But, generally that's not the order of how things actually go. You purchase the marketing automation platform (MAP), and then realize that you're stuck with something you can only use as a simple email execution tool, due to the quality of your data.
Most marketers measure the effectiveness of each fundraising channel with cost per dollar raised or income per name. Guess What? These metrics are wrong. They are not inaccurate due to lack of trying. In fact, many spend considerable effort ensuring these metrics are extremely precise. Unfortunately, precision is not the same as thing as accuracy.
As more organizations are turning their fundraising focus to digital channels and media, one of the questions I hear frequently is, “How much of our budget should we allocate to digital versus our more traditional offline channels? And what return can we expect from that investment?”
Often times when physician engagement or lift does not meet benchmarks, companies are quick to point fingers at the marketing channel. Whether it’s email or a third-party vendor, the response might be, “Let’s not work with that channel anymore.” But most channels have a long history of success.
While we use the words “customer” and “consumer” throughout the new edition of the Marketing Imperatives, they are every bit as applicable to the nonprofit world as they are to the commercial world.