Many people think that since non-profits aren’t making money, they don’t need to be managed like a business. However, not only does that misinterpret what the phrase “non-profit” means, it actually misses the entire point of having business processes and best practices in the first place. In fact, non-profits do need money to run, even though they’re doing charitable work or serving a community or underserved population with their work. Since non-profits often balance managing a higher workload across a smaller workforce, the way a non-profit is managed—particularly a larger organization—is critical.
So, what’s the best way to manage a non-profit in the first place? While there are many different philosophies in answering this question, one thing you can do to boost employee morale and productivity is to have the right tools. This is where a solid suite of software solutions and business intelligence platforms can be key. Read on to learn more about how the right dashboards and business intelligence tools can allow your staff to work smarter and do more good as a result.
Leverage the right tools to keep your non-profit on the edge.
Non-profits have all of the responsibilities of other businesses, except needing to fundraise and do development work on top of everything else. Museums and performing arts organizations need to sell tickets, memberships, or subscriptions. Foundations must raise money to give out grants and raise awareness about a variety of causes. Non-profits have marketing arms, development departments, press agencies, education and community outreach wings, and more. All of this requires the right software tools to operate smoothly.
When it comes to fundraising, the right tools are beneficial. A software solution that allows P2P fundraising via a P2P network is thus a great investment since social media has enabled the proliferation and success of various peer-to-peer campaigns. At the same time, your platform must integrate with other CRM databases and marketing channels so that you have a full, real-time picture of these efforts every step of the way. From accepting donations in various currencies to offering you reports and the ability to assist with user-generated fundraisers on the back-end, the right tool can be pivotal to your development team’s success.
Harness business intelligence platforms to use data in powerful new ways.
Another key component of business intelligence involves leveraging big data to make more informed decisions. Business analytics and data analytics, more specifically, offers you a powerful way to find actionable insights about your constituents’ preferences and behaviors. Knowing this sort of information lets you personalize annual appeals and give campaigns through segmentation and target the right donors at the right time. This can result in far more successful fundraising campaigns, custom-tailored to the constituents who are most likely to give at the level you’re looking for them to donate at.
Data is also an important tool when it comes to describing your activities to funders. Non-profits need to leverage data more effectively to communicate key points to their donors and supporters. Data visualization is often one of the best and easiest ways to help tell a story to your funders about your non-profit organization’s impact. Business intelligence software can be a key tool in handling data visualization. It allows you to express your raw data using visuals like graphs and other charts for displaying analytics. This ultimately makes it easier to communicate with external stakeholders and internal staff members about how your non-profit is performing and where your strengths and weaknesses lie. From data management to advanced analytics about your business performance or any sales data, the right business intelligence solution will make presenting that information a breeze.