CHARLESTON, S.C., Jan. 31, 2019 /PRNewswire/
-- Blackbaud (NASDAQ: BLKB), the world's leading cloud
software company powering social good, today announced the results
of a commissioned Total Economic Impact™
(TEI)1 study conducted by Forrester
Consulting examining the return on investment that arts and
cultural organizations may experience by engaging Blackbaud Target
Analytics. Forrester found that over a three-year period, an arts
and cultural organization can realize a 373% return on investment,
increase their operations fund by more than $450,000, increase major gift campaign revenue by
$2 million and avoid nearly
$180,000 in additional labor costs
with Blackbaud Target Analytics.
To evaluate the economic impact of Blackbaud Target Analytics,
Forrester interviewed the Houston Zoo, a nonprofit organization in
Texas that receives over 2.5
million visitors a year and has 2,000 annual donors, as well as
five years of experience using Blackbaud Target Analytics. The
purpose of the study was to understand the benefits, costs, and
risks associated with this investment.
Prior to using Blackbaud Target Analytics, the Houston Zoo
fundraising team had little insight into donors' wealth,
background, and giving intentions, repeatedly reaching out to known
donors and using gift officers' judgement to determine sizes of
donations to ask for. As a result, new potential philanthropists
remained unknown and the zoo lost potential donation revenue
because gift officers had no data-based way of determining donors'
giving potential. These limitations led to long timelines to reach
fundraising goals, donor burnout, and frustration for gift officers
who had to rely on anecdotal and publicly available evidence to
research their prospect and donor pool.
"We were spending a lot of time on donors who were never going
to give to the zoo—and at the same time, there were philanthropists
in our database we didn't know about," said Audra Jesudason, senior director of Development
Operations at Houston Zoo. "We needed a tool to help us analyze our
entire database and enable us to move forward with all of our
campaigns, as well as increase our operating dollars."
The Houston Zoo looked for a solution that could enable the
fundraising team to efficiently use their extensive database to
find new donors and enhance their relationships with current
donors, enable zoo executives to better plan for annual and new
major gift campaigns to enable changes and renovations to the zoo,
improve gift officer productivity by enabling them to focus on
building relationships with prospects and donors, and integrate
with the zoo's existing Blackbaud Raiser's Edge®
solution—without an expensive and time-consuming data and systems
conversion.
By implementing Blackbaud Target Analytics, the Houston Zoo saw
the following results over three years:
- Increased operations fund by more than $450,000 through growing the number of donors and
increasing average gift size. Blackbaud Target Analytics helped
the fundraising staff to find new donors and optimize annual
donation sizes to significantly boost the revenue of Houston Zoo's
operations fund.
- Increased major gift campaign revenue by $2 million through more targeted outreach.
For gift officers, Blackbaud Target Analytics relieved the burden
of identifying and evaluating donors' giving potential, allowing
them to focus on fostering relationships with the donors and
prospects.
- Avoided the cost of an additional researcher, saving the
organization nearly $180,000.
Blackbaud Target Analytics provided a software tool to analyze the
financial capacity of constituents, allowing the fundraising team
to avoid hiring an additional researcher.
Additionally, Forrester found that the Houston Zoo experienced
shortened fundraising campaign timelines, improved revenue planning
for the executive team, an enhance ability to find new donors
through automated analysis of Blackbaud Raiser's Edge, and an
improved employee experience. Currently, the Houston Zoo uses
predictive modeling, wealth screening, and consulting services
in Blackbaud Target Analytics for its fundraising needs.
"I wanted information that would not only help us find principal
gift and major gift donors, but one that would help us across our
entire portfolio, including operating donors, low-level donor club,
and planned giving society—we wanted to see movement across the
board," said Jesudason. "With Blackbaud Target Analytics, we
received a tool that enabled our fundraising team to find new
donors, cultivate our existing donor pool, and better determine
each donor's giving potential.
"Arts and cultural organizations hold their exhibits, facilities
and productions to the highest creative standards, and Blackbaud
believes that their technology should be just as extraordinary,"
said Dale Strange, president and
general manager, Blackbaud Arts & Cultural Solutions. "Our
innovations help organizations like the Houston Zoo turn their
visitors into members and donors with a connected cloud solution
that gives them a clear view of their supporters. Advanced data
analytics and enhanced functionality is a winning combination for
organizations to advance their missions."
To view Blackbaud's on-demand webinar and see how the Houston
Zoo used advanced analytics to improve fundraising efforts and
increase its mission's impact, click here. To download the full TEI
study conducted by Forrester, click here.
Click to Tweet: .@houstonzoo realizes 373% ROI with
@blackbaud Target Analytics – learn how! https://blkb.co/373ROI
1The Total Economic Impact™ Of Blackbaud Target
Analytics®, an October 2018 commissioned study
conducted by Forrester Consulting on behalf
of Blackbaud
About Blackbaud
Blackbaud (NASDAQ: BLKB) is the
world's leading cloud software company powering social good.
Serving the entire social good community—nonprofits, foundations,
companies, education institutions, healthcare organizations and
individual change agents—Blackbaud connects and empowers
organizations to increase their impact through cloud software,
services, expertise, and data intelligence. The Blackbaud portfolio
is tailored to the unique needs of vertical markets, with solutions
for fundraising and CRM, marketing, advocacy, peer-to-peer
fundraising, corporate social responsibility, school management,
ticketing, grantmaking, financial management, payment processing,
and analytics. Serving the industry for more than three decades,
Blackbaud is headquartered in Charleston,
South Carolina and has operations in the United States, Australia, Canada and the United Kingdom. For more information,
visit www.blackbaud.com, or follow us on Twitter,
LinkedIn, and Facebook.
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Director, External Affairs
843.654.3004
media@blackbaud.com
Forward-looking Statements
Except for historical
information, all of the statements, expectations, and assumptions
contained in this news release are forward-looking statements that
involve a number of risks and uncertainties. Although Blackbaud
attempts to be accurate in making these forward-looking statements,
it is possible that future circumstances might differ from the
assumptions on which such statements are based. In addition, other
important factors that could cause results to differ materially
include the following: general economic risks; uncertainty
regarding increased business and renewals from existing customers;
continued success in sales growth; management of integration of
acquired companies and other risks associated with acquisitions;
risks associated with successful implementation of multiple
integrated software products; the ability to attract and retain key
personnel; risks related to our dividend policy and share
repurchase program, including potential limitations on our ability
to grow and the possibility that we might discontinue payment of
dividends; risks relating to restrictions imposed by the credit
facility; risks associated with management of growth; lengthy sales
and implementation cycles, particularly in larger organization;
technological changes that make our products and services less
competitive; and the other risk factors set forth from time to time
in the SEC filings for Blackbaud, copies of which are available
free of charge at the SEC's website at www.sec.gov or upon request
from Blackbaud's investor relations department. All Blackbaud
product names appearing herein are trademarks or registered
trademarks of Blackbaud, Inc.
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SOURCE Blackbaud