The Basics on Why AI Can Boost Nonprofit Fundraising Results
Simple reasons your nonprofit should consider implementing AI
When it comes to fundraising, there are infinite ways that you can do it. One way that you may not have thought of is AI. Artificial Intelligence can help improve and streamline fundraising campaigns, so it’s something that you’ll want to look into for your non profit.
What You Should Know About Nonprofits And AI
There’s a lot of things you should know about AI and fundraising, so let’s cover the basics first:
What’s AI? Artificial Intelligence is computer science that creates machines that learn from the data they’re given. It replicates the human brain in data but does it much faster, making it great for many different applications.
Why use machine learning AI in nonprofits? Machine learning is the way that AI analyses data and uses it to create new processes and outcomes. In non profits, it can help understand hundreds of different factors and help create better fundraising campaigns
What’s predictive modeling? This is using data to find patterns to predict future outcomes. The more your AI does this, the better it will get at it.
What’s propensity modeling? This looks to see how likely it is that an individual will complete a certain action.
How nonprofits use AI: “Typically, non profits use AI to improve their segmentation” says Lorraine Cannon, a project manager at UK Writings. “It takes a lot of guesswork out of the process and makes it simpler.”
Using AI As A Nonprofit
As a non profit, you’ll have data on your donors that you should be using to understand them. Trying to analyze that yourself is going to be difficult and time consuming. If you use AI though, it can go through that data much quicker, and help you get better segmentation.
That AI will help you predict outcomes even to the individual level, so you can get a better understanding of your donors and who they are. When you have that understanding, then you can improve your donations and start hitting higher donations goals.
How Nonprofits Are Using AI
So, how are nonprofits using AI to improve their fundraising campaigns? Here are some examples:
Greenpeace: They used AI to separate out their donors, to see who would be more likely to respond to email campaigns. With the results, they were able to create a mailing list that got them better results.
Parkinson’s UK: This non profit used AI to analyze their historical donors to create a list of people who’d be more likely to donate to their latest campaign. That allowed them to get much more out of it while spending less.
How AI Works For Your Nonprofit
As you can see, AI is highly valuable for nonprofits. How would it work in your case? Firstly, you’d need to have stored data that you need to analyze, in this case, donors. This is transformed and fed into the AI, which will then create models from it. These models are used to create predictions, and then you’ll use those predictions in your fundraising campaign.
This is a very simplified explanation of the process, but as you can see once you’ve got AI involved, it makes things a lot quicker, and gives you a lot more detail when creating those campaigns.
Why AI Is Important For You
AI used to be a sci-fi concept, but now everyone is using it in one way or the other. As such, you’ll want to consider taking advantage of it as a nonprofit.
As the saying goes, time is money, and you don’t want to spend time analyzing data by hand. You also want those campaigns to be more effective, especially as the reliance on the nonprofit sector is getting greater and greater. Bringing in more funds means you can do more for your community, and AI helps you do that.
As such, as a non profit, you need to be looking into AI for your next fundraising campaign. You’ll be astounded at how much it can improve donations and ensure that you get the money you need to carry out your services.
Guest Author Bio
Sara Sparrow is a writer with Academized, where she covers tech and especially AI news.
Originally published at https://bigfundraisingideas.com.
