Water Cooler Chat Replay: Using Monte Carlo Analysis to Predict End of Year Giving
You’ve been tasked with raising annual fund giving by 20%, and you know that it’s a big priority for your organization. You’ve made lots of changes to your fundraising plans, and the first few months seem to have been successful. But are you on the right track to reaching your goal? How would you even know?
There’s a simple but powerful tool available to everyone which will help provide an answer. The Monte Carlo simulation technique can help you to identify the likelihood that your fundraising program will reach its end-of-year goal. It is flexible enough that you can update it throughout the year to find out if you are moving in the right direction. Best of all, Monte Carlo simulations can be created with a program you already own: Microsoft Excel.
We constantly seek ways to make better and to make better use of our capacity ratings. Often IRS aggregate data are used for this purpose. This Water Cooler Chat focuses on what's available in the IRS data for your shop's rating efforts.
Marianne and Jen are back again! Jennifer Filla, EO at Aspire Research Group and the Prospect Research Institute, will join Marianne for this Water Cooler Chat to cover the latest in prospect identification. Jen will share AFP’s “Linkage, Ability, Interest” framework, used for developing a custom system for identifying, verifying, and qualifying mid and major gift prospects. Marianne will share ways to automate prospect identification for any size shop.
As fundraisers, we focus our resources on major gifts prospects. However, with Big Data bringing out a lot more information from social networking, we now see the value of using modeling and mining tools to help annual giving, membership, and events programs. This water cooler chat is centered on engagement –a rather nebulous term we use to try to understand what our donors feel about us before they give for the first time.
Marianne coined the term, "Donor Journey," based on the marketing term, "Customer Journey." During this Water Cooler Chat, we'll talk about ways to identify and understand the Donor Journey.
Topic: Relationship Mapping with Jen Filla
Marianne and Jen have a conversation about Relationship Mapping and walk through a demonstration.
Topic: Virtual Event Planning with special guest Hannah Fuller of Vera House
In this Chat Hannah Fuller spoke about the June virtual event she planned and executed for Vera House and its upcoming virtual event.
Hannah is Special Events Coordinator at Vera House, Inc. She is responsible for the planning and execution of Vera House’s major fundraising, awareness building, and recognition events including their annual Gala, the White Ribbon Campaign, and its Recognition Luncheon. She also handles Development-related items like outreach for underwriting, advertising, and auction donations.
Topic - Open Forum
There were no slides for this discussion.
Topic: Visualization in Three Styles
In this Water Cooler Chat, Greg Duke and Marianne Pelletier demonstrate three different visualization products: Excel, Power BI, and Tableau. Come and get some tips on maximizing your use of each.
Topic: Return On Investment is King
As we get ready for our fall fundraising activities, we can use these king-sized metrics to boost our results and pivot at the right time. In this chat, Dr. Greg Duke, Le Roi of Fundraising Metrics, explores ways to measure your Return On Investment on your way to launching your most successful giving season yet.
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