Reviewing how much a donor has given you, the time of his or her last gift, and how many times he or she has donated—also known as recency/frequency/monetary (RFM) history—is often one of the first steps in helping you decide which prospects to contact with which message and ask amount.
- Recency is how recently a donor has made a gift. The more recently a donor has given, the more likely they will continue to keep you in mind for future gifts. Compared to a lapsed donor, recent donors can arguably have a higher likelihood of engaging in future interactions or receiving gifts.
- Frequency is how often a donor gives. A donor that gives frequently or engages with you as a sustainer is likely to value your cause and attend in-person events or volunteer.
- Monetary value is how much a donor has given in donations. Your major givers will have a high monetary value, as they believe in your cause enough to give your organization a significant gift.
RFM analysis allows you to view each of these measures in tandem to spot the best prospects. When you identify a donor who is significant in all three aspects—who has given very recently, frequently, and of a high monetary value—it helps you prioritize individuals for further stewardship and prospecting.