Since our first clients went live with back in 2008, we have continually developed Spektrix in anticipation of wider industry developments and in response to the evolving needs of our users. Since day one, Spektrix has included the ability to accept donations when booking tickets. We have gradually developed that capability, by adding in features like suggested donation amounts linked to the value of tickets in the basket and sophisticated membership schemes.
In recent years, the arts sector has been forced to respond to major reductions in public subsidy combined with a general economic downturn. As a result, raising funds has never been more important than it is now. We’ve been talking to our clients about fundraising for a while, and have spent a long time thinking about how we can help our clients respond to the growing need to cultivate and manage donor relationships. Launched this month, Spektrix Fundraising is a major new module of our software developed to meet this need. Our fundraising tools have been intelligently designed to meet the complex demands of managing donor relationships, campaigns and workflows.
Our ability to provide best in class ticketing and marketing functionality combined with our new fundraising tools means that arts organisations will now be able to benefit from a single, powerful database that manages every point of contact with customers, donors and supports across the organisation. There’s no separate database; everything is in one place and every interaction with your organisation is recorded.
So, how does it work? Spektrix Fundraising is based on three main principles:
Managing Donor Relationships
Being able to track and manage the relationship between organisations and their supporters in a way that reflects the nuances of real life relationships, is a crucial requirement of any fundraising software. The ability to understand the relationships between different people you’re working with is essential; for example, who knows who, and how long they have been colleagues.
Spektrix Fundraising provides a whole suite of tools to do this including our new Relationship Management tools which allow for relationships to be easily defined between people and organisations in the database. Simply by using a drag-and-drop tool, personal and professional relationships can be defined, tracked, and monitored.
Our clients handle thousands of transactions a day, recording vast amounts of useful customer data as they go. Within all those bookings, some of those customers will behave in a way that suggests their interest in the organisation might go beyond just buying tickets. They might attend four or more times per year, they might buy lots of merchandise or have regularly donated more money than the average customer. Our brilliant new Timeline tool provides development teams with a clear idea of a prospect’s relationship with your organisation, enabling them to quickly identify opportunities for future support and keep track of progress. For example, if you’re talking to a prospect and want to know when they’re next coming to a performance, you could take a quick look at the timeline to find out when they're coming and where they’re sitting.
Because our existing features work in combination with our new fundraising tools, you can feed customer data from your box office through to fundraising, ensuring that Spektrix acts as an excellent central resource for the capture and use of donor information.
Campaign and Opportunity Management
Spektrix fundraising tools reflect the way that campaigns work in the real world, and support the concept of campaigns for specific fundraising objectives. For example, a capital campaign with a channel for direct mail and a cultivation event channel can be set up within Spektrix and income from each can either be forecast together or separately.
Campaigns are split into stages and appear in the fundraising pipeline. This is entirely customisable; stages can be added, removed and named in the way that is most appropriate to your organisation. This pipeline enables you to track the progress of a campaign by moving ‘opportunities’ through each stage with the aim of getting them to the final stage, indicating the opportunity has been closed. Opportunities are created when a customer entity (either an individuals or organisation) is linked to a campaign and each one has a projected value that you expect to be received, as well as a likelihood of the opportunity coming to fruition.
Keeping your finger on the pulse of your fundraising campaigns has never easier. With the tools to track progress, and be responsive and alert to the developing needs of your campaign, it’s easier to focus on achieving your ultimate fundraising goals. Specially designed fundraising reports ensure that once a campaign is complete, you can analyse areas of success and identify future adjustments.
Spektrix supports the day-to-day needs of fundraising teams by including an Activities pane on the right-hand side of the interface to support task management across teams of all sizes.
Activities register any interaction with customer entities, and can be set for the future like a ‘to do’ list, or created to record a past bit of communication. When you create a task, you can assign it to any relevant member of your team and set a due date. Users see the most relevant tasks to them on their Activities pane, keeping communication flowing throughout the team.
Opening an upcoming activity gives you more details about who to contact and how, the purpose, the priority level, and any linked opportunities or customer entities. You can also assign different resources to an activity, for example the amount of time or money you spend doing the activity, and at the bottom, you can upload relevant documents as attachments. With intelligent functions like these, the Activities pane acts as a key touchstone for daily activities across fundraising teams.
Spektrix Fundraising lives up to our reputation for providing forward-thinking software that drives innovation from the inside out, so it’s safe to say we’re a tad excited to see it in action over the coming months. If you’d like to know more about Spektrix Fundraising, or see a demonstration, drop us a line.