Return on Investment: Budget
Budget, budget, budget – how many times do we have budget on the brain? It seems that 99.9% of organizations I speak with have budget on the mind before we discuss benefits and the return on investment, and I understand why. We have limited resources to purchase products to stay within our pre-determined percentage of what’s acceptable for our organization. And Relationship Mapping appears vague at first glance.
How will I know what my results will be? The visuals are compelling, but what is the value? There are two major benefits to Relationship Mapping for non-profit organizations: tangible and intangible benefits.
Intangible benefits can be hard to quantify. These benefits include finding lost alumni, finding new connections to identified prospects, finding unknown prospects, corporations, and foundations, and finding new board members. Finding a new donor, board member, or organizational connection is fantastic. However, there is no way to guarantee the results that your team will have for these intangible benefits. The immediate, tangible benefits of Relationship Mapping, however, are much easier to quantify.
According to Glassdoor, an average prospect research analyst earns $45,000 per year, which breaks down to $22 per hour. Completing a brief report on prospects including affiliations and connections to your constituents can range from 3-6 hours. The average employee cost to an organization at this rate equals $97 per report.
Individuals using Relationship Mapping are able to complete a brief report in 30 minutes on average. At this rate, the employee cost to the organization is $11 per report. The return on the organization’s employee cost with these tools is roughly 800%! Saving time saves money for your organization and for your budget.