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We have been doing a massive project to this end. Here is what we have done:
1) Contracted with a data services firm - not BB, somebody else - to get demographic info: income, age, gender.
2) Analyzed it ourselves -- using tallies in demographic reports + some strategic exporting and Excel analysis, pivot charts, et cetera.
It has been useful for us - allows us to confirm some assumptions and also forced us to look at some other things (for example, many of our donors are not giving at capacity, ie, we have a lot of small gift donors with large incomes.) This can inform strategies and allow us to make better choices in how we approach our donors.
I didn't get good information back from the data enricher about what biases might exist in their data -- for example, were they more likely to match richer individuals, older individuals, et cetera. I wonder if other services would have this information or if I am just getting a little data-nerd about things.
Qs we have been asking: average donor age, average donor income, average donor income by size of gift (individual vs major donor), average online vs offline donor profile, and others too.
Let me know if you want or need more information! This has been my major project for the month of August.
I would be interested in someone recommending a program they have used to pull data on their existing members and donor prospects. Currently looking at Blackbaud Target Tags Donor Conversion Models. Prior to June this year, our organization never attempted to create a profile of its members. We began with a simple survey (surveymonkey) to collect general demographic information, income level, publications they subscribe to, memberships they hold to other cultural organizations, etc. We discoverd we had members who were giving $40 annually with incomes $100,000+.