The world is abuzz about “big data” and “data-driven” strategy. As defined by IBM, “Big data analytics is the use of advanced analytic techniques against very large, diverse data sets.” In the commercial sector big data has applications in everything from product development, customer experience, operational efficiency, to innovation. According to Intel, “big data analytics is a technology-enabled strategy for gaining richer, deeper, and more accurate insights into customers, partners, and the business.”
But it’s not just the commercial sector where big data has transformative potential. Nonprofits are also taking strides to become “data-driven. Many have adopted cloud-based technology and Customer Relationship Management databases (CRMs) that allow them to collect and analyze data about their constituents. Nonprofits are increasingly pushing to create “data-driven cultures,” develop goal-oriented key performance indicators (KPIs), and focus on actionable metrics.
A data-driven approach has proven particularly valuable in nonprofit fundraising activities. Tracking figures like donor retention rate and donor conversion rates for appeals can help organizations establish clear goals. Additionally, big-data has powered AI and machine learning fundraising solutions that allow organizations to “identify the best donors at the right time for discovery, cultivation, solicitation, and stewardship.”
In this increasingly fast-paced, digitally-evolving world, it is more important than ever that visitor and member-serving organizations continue to adopt strategic, data-driven approaches across all departments. One of the most fruitful areas to apply a data-driven approach is that of membership. In fact, if you’re a museum or cultural attraction, data about members and guests might just be the key to giving your organization the boost it needs.
Museums and other cultural organizations already keep track of member data and annual visitors. Yet, orgs can do a lot to amp up their data game – and take advantage of the benefits!
For example, while you might collect information about your members, how much do you know about your members’ guests? Many museums, aquariums, and zoos issue at least one and up to eight or more guest passes to members annually as a perk of membership. But what do you know about how these guest passes are distributed and redeemed?
One of the biggest deficiencies around the traditional guest pass is that the entire process is untrackable and without insights. Indeed, you probably don’t know if, how, and when are distributed or who your member’s referred guests are. Yet, the friends, family, and social connections of your current membership base who use those guest passes are all potential members – if you only you knew who they were and how to reach out to them. As it stands, every unlogged action or guest is a lost opportunity for your organization to attract another potential visitor, member, or donor.
That’s where data comes in. As the adage goes, “your network is your net worth.” Data is the only way to tap into your network and make that network work for your organization.
Let’s take guest passes. Until now, guest passes have been a void for museums and cultural attractions. But, what if they became trackable? What if instead of logistically-demanding and financially-draining physical passes, guest passes could be sent via email and distributed from members to their guests digitally? And what if you could compile data on the large volume of guests coming through your museum, then leverage this data to grow your pool of potential members and convert guests into members?
Now, this is possible with Guest Pass Referral, by Cuseum.
Digital guest passes are another way to make data part of your organization’s DNA. As the saying goes, “if you can’t measure it, you can’t improve it.” A digital referral system is a vital tool for tracking your members and guests. When digital guest passes are redeemed, you are able to track that information to gain valuable insight into who is visiting your organization and who referred them. Moving forward, organizations will be able to harness digital guest passes to gain deeper insights into their visitors and communicate with and market to potential members through effective digital channels. Together, we can take a step further, reaching towards a future that fuses multiple sources of data and harnesses predictive models to access the social networks of current patrons to bring in new members and visitors.
Additionally, a digital referral system can offer tracking capabilities that allow you to map out which of your members are the most socially-engaged and influential, and which patrons invite guests with the highest conversion rate into members. Armed with this valuable insight, you’ll be able to offer rewards and incentives to your most devoted advocates.
Data and digital go hand-in-hand, and there are now easy-to-use tools that can help you grow and sustain your membership base and more effectively serve your constituents.
Interested in making your membership program more data-driven? Schedule a free consultation with Cuseum today.