The world of higher education fundraising has changed considerably over the past three decades. It’s noisy out there; your message and your asks are at risk of being lost or forgotten. Not to mention, alumni from your institutions are being marketed to and solicited by thousands of relevant, deserving causes. Plus, higher education institutions are increasingly reliant on small pools of major donors for anywhere from 75 to 95 percent of their annual fundraising totals (source: Forrester Consulting).
The loss of only a few donors could have a damaging impact on fundraising goals. What can you do about it? Well, universities and schools must prioritize building, growing and retaining relationships with their donor base; moreover, the opportunity to achieve record-breaking revenue awaits those who adopt new processes, technologies and data.
In a recently commissioned study conducted by Forrester Consulting on behalf of Blackbaud*, Forrester found that the University of North Texas (UNT) received a record-breaking 176 major gifts in 2017 — 56 percent over its ten-year average and 24 percent over the height of its 2012 major giving campaign.
How did they do it? They embraced a cloud-based fundraising technology to increase total fundraising revenue, improve stewardship, capture team metrics, and improve gift officer productivity.
Here are four benefits associated with adopting new technology to meet your end goals:
1. Potentially Raise Your Revenue by Millions
After implementing the Blackbaud cloud solution, Raiser’s Edge NXT, UNT increased gift revenue of $2,165,383, primarily by fostering a 56 percent growth in major gifts. Raiser’s Edge NXT is a comprehensive, cloud-based solution built specifically for the needs and desires of the fundraising and advancement community.
By adopting a tool that was smart, scalable, and predictive, UNT successfully set a new fundraising record with over $30 million raised in 2017–with no increase in development staff—$3.7 million higher than the previous year and with 24 percent more major gifts than even at the height of the university’s last major campaign in 2012.