RiF Scotland 2016 Final
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Transcript of RiF Scotland 2016 Final
WEALTHENGINE.COM | [email protected] |+44 207 717 8483WEALTHENGINE.COM | [email protected] |+ 44 207 717 8483
ProfilesWho, why & when?
Marcelle Jansen, Wealth Engine
David Scott, University of Stirling
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Our presentation inspiration:
“They want me to be able to produce at a rate of 7 bios on
individuals per day and 1 foundation profile per day. That
works out to 35 individual bios per week and 5 foundation
profiles per week.
“That's a total of 160 bios in total per month.”
1,920 annually!
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Guess the quotation:
“When they got back to the cabin they made a midnight snack
and heated up the coffee. Mikael took a look at the almost 500
pages that Dragan Armansky’s favourite researcher had
produced for him.
“You’ve done a fantastic job of digging up these facts in such a
short time,” he said.
“Thanks. And thanks also for being nice enough to come up here
and report on it…”
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
500 pages!
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Three questions immediately raised:
• Who do you target?
• Why should you target them?
• When do you provide line management with the profile?
Additionally, what is reasonable in terms of proactive
research against reactive research?
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Find me a wealthy prospect!
WEALTHENGINE.COM | [email protected] |+44 207 717 8483WEALTHENGINE.COM | [email protected] |+ 44 207 717 8483
Who to Profile?The Intersection!3 NOVEMBER 2016 MARCELLE JANSEN, DIRECTOR, WEALTHENGINE UK
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Agenda
CPA
Segmenting Based on Capacity
P2G Scoring
Measuring Engagement
Segmentation Results
Solicitation Pools
Creating Affinity Scores
Major Gift Model Predictors
Taking Action!
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Major Gift Prospects Have CPA
Capacity: The financial abilityto make a major gift at aspecified threshold
Propensity: The inclination tomake charitable gifts to anycause or charity
Affinity: The linkage betweena donor and the charityand/or mission
Capacity
AffinityPropensity
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Segmenting Based on Capacity
0 200 400 600 800 1,000 1,200 1,400
£1-£1,249
£1,250-£2,499
£2,500-£4,999
£5,000-£7,499
£7,500-£12,499
£12,500-£24,999
£25,000-£49,999
£50,000-£124,999
£125,000-£249,999
£250,000-£499,999
£500,000-£2,499,999
£2,500,000+
Distribution of data match results
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Segmenting Based on Capacity
0 200 400 600 800 1,000 1,200 1,400
£1-£1,249
£1,250-£2,499
£2,500-£4,999
£5,000-£7,499
£7,500-£12,499
£12,500-£24,999
£25,000-£49,999
£50,000-£124,999
£125,000-£249,999
£250,000-£499,999
£500,000-£2,499,999
£2,500,000+
Distribution of data match results
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
P2G 1’s and 2’s make up 42% of the file (2,845 records) and should be considered among the priority for major gifts.
38%
4%
31%
15%12%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
1 2 3 4 5
P2G Scores
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Measuring Engagement
Take all positive supporter actions…
1. Giving (measured by recency, frequency and value)
2. Response ration (number of responses divided by number of solicitations)
3. Number of areas ‘present’ in )cash giving, DD, legacy, volunteering, etc.)
4. Tenure (with evidence of continuous giving)
5. Email actions (open, click through, response)
6. Membership and specialist communications/publications sign ups
7. Has a valid address, email and telephone
8. Opt-outs (downgrade their score)
Then build an aggregate score for every supporter to gauge how into you your supporters are
This has direct application to your communications planning, supporter development program, pricing strategy and targeting AND can also be used as a variable in itself within your data models
14
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Creating Affinity Scores
Based on internal data, you can develop a simple scoring model for affinity, for example:
Criteria Points
Event Attendance 1-3Facebook Friend 1 Member of LinkedIn Group 1Volunteer Status 1-2Tenure 1-3Giving History 1-3
Scores:
0-4 Low Affinity5-9 Moderate Affinity10-15 High Affinity
Affinity
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Giving as a Proxy for Affinity
Each of your donors are scored in terms of:
Recency
Frequency
Money
The resulting total is your proxy affinity score
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Combining CPA: Donor Segments
Donors are screened by the RFM scores and Estimated Giving Capacity
They are then rank ordered and placed into 7 segments
17
£25K+ £5k+ <£5K
VHAngels True Believers Loyalist
H
M High TouchFoundational
Givers Pyramid Base
L Wish List
Estimated Giving Capacity
RFM
Sco
res
Tota
l
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Donor Segments by P2G Score
Donor Segment P2G 1 P2G 2 P2G 3 P2G 4 Totals
Angels 265 13 43 10 331
True Believers 93 26 125 69 313
High Touch 80 7 14 1 102
Loyalists 10 3 57 11 81
Wish List 2 0 0 0 2
Foundational Givers 60 12 65 33 170
Pyramid Base 4 1 24 6 35
Totals 2,528 291 1642 899 5,360
Angels, True Believers and High Touch donors with P2G scores of 1 and 2 should be considered top priority for potential major gifts
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Segmentation Results: Prospects
Forerunners
- These are your future angels! These prospects have the highest capacity to make donations to your organization.
- Estimated Giving Capacity > £25,000
1,328 in your file
1,040 are P2G1
15 rated at £500,000-£2,499,999
- This segment is the pipeline for leadership gifts.
- Estimated Giving Capacity between £5,000 and£24,999
2,782 in your file
- This segment with lower capacity are the pipeline of future regular donors.
- Estimated Giving Capacity < £5,000
216 in your file
Forerunners
Future Leaders
Building Blocks
Future Leaders Building Blocks
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Goal:
Identify your top 200 major donor prospects
20
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Segmenting Prospects into Solicitation Pools
21
Most promising
Major Donor
prospects
Vendor screen output
Internal data
21
Filter Criteria:
3) Company Director
Filter Criteria:
4) Investment Portfolio
Filter Criteria:
2) Property Value
Filter Criteria:
1) Age > 40
Filter Criteria:
4) Recent Gifts
Filter Criteria:
5) Event Attendance
Filter Criteria:
6) Tenure
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Major Gift Model
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
£50 £100 £200 £300 £500 £1,000 £1,500
% o
f M
ajo
r G
ift
Do
no
rs
Largest Gift Amount
Dependent Variable Largest Gift Amount >= £500
Used logistic regression to build model
Selected larger gift of £500 or more
303 donors met this threshold in the sample of 48,546 records
Modelling identifies individuals in the file with attributes similar to the 303 donors
Identified predictive attributes by analyzingacross giving, wealth, and demographic variable
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Major Gift Model Predictors
Major Gift Model
Predictors Description SourceRank by
Contribution to Score
Attended Events Number of alumni events attended (+) Client 1
Total Number Gifts Total number of gifts (+) Client 2
Total Real Estate Total real estate value (+) WealthEngine 3
Company Value Company values (+) WealthEngine 4
Perfect Match to Matrix Indication that a constituent matched perfectly to Matrix investor database1
WealthEngine 5
MOSAIC Code Lifestyle/demographic coding is ‘A4 Serious Money’ (+) Client 6
Age Age (+) WealthEngine 7
Perfect Match to ZoomIndication that a constituent matched perfectly to ZoomInfo database2
WealthEngine 8
1 Matrix Investor data identifies private investors and provides an estimated private investment portfolio to highlight an individual’s investment interests and affinities.2 ZoomInfo reports include such information as names, titles, addresses, phone numbers, schools of attendance, past and current employment and board memberships.
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Newly identified major gift prospects require action
Attribute Averages Top New Prospects Others
Count203 47,788
Capacity£144,733 £13,749
Total Giving£1,249 £41
Event Attendance2.0 1.6
Number of Gifts7 1
Company Value£189,996,726 £1,830,503
Real Estate Owned£1,393,225 £257,018
Age67 60
101 of the top 304 prospects were already identified /qualified or under management
203 are completely new major gift prospects ready for verification and qualification
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Take Action with Major Gift Prospects
203 Prospects
Average Capacity £144,733
Average Total Giving £1,429
Verify Data – Is this a major gift prospect?
Qualify with contact – is there propensity and affinity?
Assign for cultivation
Major Donor Prospects
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Case Study: University of Stirling – 5th Jan 2016 to date
• 5,300 records reviewed (addition of Potential to Give, contact
details, etc. – vast majority individuals);
• 2,504 Major Gift giving potential (£10k+ over 5 years);
• Potential to Give Scoring established;
• Affinity Scoring established;
• Likelihood Scoring Established in principal;
• 658 Short Profiles;
• 53 Full Profiles.
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Steps and stages
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
Steps and stages
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
WEALTHENGINE.COM | [email protected] |+44 207 717 8483
In conclusion, please consider:
• Capacity;
• Propensity;
• Affinity;
• Profile Prioritisation (Provisional/Short v Full);
• Strategy Creation;
• Ongoing Review.
WEALTHENGINE.COM | [email protected] |+44 207 717 8483WEALTHENGINE.COM | [email protected] |+ 44 207 717 8483
Questions3 NOVEMBER 2016 MARCELLE JANSEN, DIRECTOR, WEALTHENGINE UK