Acquisition Strategies
Reach and attract new donors
VeraData’s acquisition strategies integrate an ever-evolving donor landscape with a rapidly emerging artificial intelligence ecosystem. We leverage both human-centric strategic expertise and our expansive machine learning capabilities to optimize your current audiences and identify prospects. Utilizing thousands of variables for each potential donor allows us to source those with the greatest propensity to donate to your organization.
Our team evaluates decades of data on the individual transactional, behavioral, demographic, and psychographic variables on both current donors and prospects. This enables you to transform your acquisition campaigns’ efficiency and gain more donors at a lower cost.
RESULTS
“After switching to Prescriptix to suppress the lowest performing names and replacing them with VeraData universe names, our acquisition campaigns and saw a 60% improvement in CTA and our total audiences grew faster than ever before.”
Assess your Key Performance Metrics based on your goals
“We’re a small Catholic charity. We kept seeing a decline in our new-to-file donors that resulted in a shrinking file and negative impact on our net revenue goals.
We provided VeraData with several years of campaign data and they leveraged their analytics to evaluate thousands of variables and develop multiple model iterations to identify segments that met our KPI requirement – in this case, our cost to acquire a new donor. The microsegments were then supplemented with highly targeted prospects from VeraData.
Our response rate improved from 1.65% to 1.92% on higher volumes of mail and our CTA went down 27%. It was game changing for us.”
“We found ourselves with a shrinking prospect universe and increased package costs. Remailing all records was not profitable for us. VeraData built a machine learning model from prior campaign data.
Utilizing the VeraData model – our remail response rates outperformed the first drop! Our response per mailing improved 18% in remail vs. first drop. The remail resulted in a 54% lower CTA than the first drop!”
“We saw a steady decline in our acquisition response rates to the point where our cost to acquire was exceeding acceptable levels. Our donor base was shrinking and we needed to find a solution.
Working in collaboration with the data science team at VeraData, we established KPIs for response rate, minimum gift amount and cost to acquire. We provided VeraData with historical promotional and transactional data from our file. They built an ensemble of models and back tested them on our most recent live campaign.
The final model increased our response rate by 17% and lowered the cost to acquire by 28%! By dropping poor performing prospects that the model identified and through backfilling, our CTA went from -$7.99 to -$5.75!”