How Can Target Analytics Affluence Inform Your Planned Giving Efforts?

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Our new Target Analytics Affluence data is being used by more and more non-profit fundraising shops every day! It’s a unique combination of wealth estimates and philanthropic behavior groups that has applicability not only for major gifts, annual giving, mass solicitation, and direct marketing efforts, but also for planned giving. Check out last week’s post by my colleague Liza Turcotte on annual giving ideas and today's post with some ideas about getting started using Affluence data with planned giving programs. Have you used Affluence data? Let us know in the comments below!

In an era of big data, what new techniques are available for assuring you are creating the most actionable segmentation strategies for your planned giving program? Target Analytics Affluence provides actionable insights into the capacity and philanthropic tendencies of our deferred gift prospects and the returned data is easy to understand and apply! If you haven’t explored Affluence yet, this npENGAGE blog post, podcast, and on-demand webinar do a good job introducing the solution.

I’m very excited about Affluence because every planned giving shop – large or small – new or sophisticated - can get a lot of mileage out of this data, and everyone in a development office can leverage it to be more efficient and effective.

Here are 4 simple ways to use Affluence for planned giving:

Combine Affluence Net Worth or Investable Assets estimates with your ProspectPoint® planned giving likelihood scores to segment planned gift prospects based on high capacity to make a significant gift
- Let’s say you’ve completed a planned giving likelihood assessment with Target Analytics (or with a different vendor) and you’ve got thousands of top prospects identified. Which of your prospect pool can make the largest planned gifts or consider creating a Charitable Remainder Trust that benefits your organization? The answer: Look for prospects with a net worth estimate exceeding $2,000,000 or with investable assets of $1,000,000 or more. Here’s how to find them in your database: Query for records with Planned Giving Likelihood scores (or CRT Likelihood) between 501 and 1000 AND with Affluence Net Worth greater than or equal to $2,000,000 OR with Affluence Investable Assets greater than or equal to $1,000,000
Use Affluence Donor Categories to create marketing messages that appeal to different types of donor desires.
- It’s time to plan your annual marketing calendar and you’d like to speak more directly to the varying types of donors with differing language that speaks to their personal desire to contribute to our changing world. What messages appeal to different philanthropic motivations? The answer: There are 3 basic philanthropic message groups – some seek mass scale improvements rather than on single cases, others want to help their fellow man instead of changing the world on a mass scale, and some respond to positive messages, but relate more to needs. Here’s how to find them in your database and create planned giving communications that address their differing desires: Query for records with Affluence Donor Groups equal to Philanthropists, Humanitarians and Casual Donors separately. Then watch our on-demand webinar to understand the reasons by which they make charitable gifts and how to tailor your planned giving marketing messages to each.
Find the right prospects who would benefit from learning about your Charitable Gift Annuity program
- You’ve got a charitable gift annuity (CGA) program that hasn’t seen much traction lately. You’re not alone! Nationally, CGAs contracts have been sporadic – but is the reason because we’re not talking to the right people about them? The answer: Look for prospects with known assets whose income could use a boost! Query for records with Planned Giving Likelihood scores (or Annuity Likelihood) between 501 and 1000 AND with Affluence Income less than $70,000 AND Affluence Investable Assets greater than or equal to $100,000
Eliminate or reduce marketing expenditures to planned gift prospects with no proven philanthropic intent
- Your marketing dollar is valuable! And, we know that you want to use it wisely. You can capture an immediate return on investment (ROI) by dramatically reducing the resources you spend on prospects who have no known philanthropic giving. Target Analytics has compiled a proprietary philanthropic database that includes over 3 billion philanthropic gift transactions, covering over 80 million US households. We understand the philanthropic tendencies of almost every home in the country! It’s easy to stop or reduce mailings and phone calls to individuals that simply aren’t philanthropic – even if they’re rich! Query for records with Affluence Donor Group equal to The Masses. Comprising about 40% of most databases, The Masses have little means and no giving history. Frankly, they offer poor donor potential and less potential for deferred giving at this point in their lives. Among all groups, they have the lowest levels of education, environmental awareness, tech savvy and loyalty. They tend to lack perspectives that drive giving considerations.

With big data continuing to push us to think about our strategies differently, I am inspired to see our industry continue to evolve with cutting-edge techniques that greatly benefit our planned giving programs. As a frontline fundraiser, researcher, data analyst or executive at your non-profit, I encourage you to continue to push yourself to think strategically – and creatively – about the strategies – and data - that you’re are using for planned giving.

News ARCHIVED | Blackbaud Target Analytics® Tips and Tricks 05/22/2017 5:29pm EDT

Added by Katherine Swank

1 Comments

Eileen Disken May '17

Interesting post Katherine and full of information, thank you.