2016: A New Year – A New Perspective

Let's say that you purchsed a preditive modeling or wealth screening service from Target Analytics in the past couple years.  Maybe at the time you didn't dig into the results and utilize it as much as you would have liked to have with all the competing priorities that life dishes up?  Or maybe you initially utilized the very top scoring prospects for a campaign or major givinig initiative, but now you going about business as usual?  Whatever the scenario for your organization, the great news is that now is the perfect time for you to take a fresh look at your results and continue to utilize your project to prioritize your work in the coming months and thoughout 2016!  There are things that you can do to revitalize that data and provide a new perspective on the information you received from Target Analytics:
 

• Within your CRM database, query on those with higher Annual Giving Likelihood (AGL) scores for an upcoming mailing, targeting those with higher scores of 1000 on down.  Depending upon their giving in 2015, consider an upgraded ask amount by reviewing their Target Gift Range (TGR) scores.  Consider this to be a more targeted gift ask, so provide specifics on what the various initiatives that the annual fund (or other special initiative) will finance at your organization.  A college/university, for example, might be having a scholarship campaign, so now is the perfect time to analyze your data and see who could give to this type of initiative. 

 

• If you are a Fundraising Essentials client, look at something similar to what is suggested above, using the 'A' or Annual Gift Prospects along with the Next Ask Amounts in conjunction with the last year of giving.  You may want to prioritize first by sending to your most loyal donors.  

 

• Major gifts fundraising is always on the top of my clients' minds, so take a fresh look at those with higher Major Giving Likelihood (MGL) scores and higher Target Gift Ranges (TGRs) for identification, assignment, and qualification activities.  You can do the same with those who have Fundraising Essentials who are 'M' or Major Gift Prospects and the Next Ask Amount.  Also for those with the Principal Giving Segmentation solution, look at your Tier 1-4 prospects who may not be assigned to a gift officer. 

 

• If these top scoring prospects for major/principal gifts were not screened as part of your project thru WealthPoint or it has been a while since their data was updated, take some time to screen/update their WealthPoint data, prioritizing by those who you wish to assign and qualify.  Even if you are pressed for time, at a minimum take time to update their WealthPoint screening results in ResearchPoint when the timing is right for the gift officer to begin qualification efforts. 

 

• If a prospect is at the advanced cultivation and proposal/solicitation stages, then consider updating their WealthPoint data to see what new information is revealed.  If your prospect has new data results in NOZA, for example, and you see that they are recently giving gifts to other nonprofits at a larger or smaller level then you originally were thinking about, you might find this new information helpful.  You might also discover, for example, that your prospect just recently disposed of insider stock that is held in a publicly-traded company.  The bottom line is that data is there to provide strategic and important insight on your prospects, and depending upon circumstances and other nuances discovered during your relationship building stages, this type of data could be incredibly valuable.

 

• I have found that Planned Giving Likelihood (PGL) scores often get put on the back-burner if purchased as part of a comprehensive modeling or Fundraising Essentials project.  Clients tend to focus on the big fish first, and that makes sense, but whether your objective is to grow your planned gift program or start a program, you have a prioritized and ranked list of potential planned gift prospects at your fingertips with this data.  Consider sending a specific planned gift mailing (or email) by looking at loyal donors with higher scoring PGL scores in descending order (1000 on down).  Also look at your very highest scoring prospects for assignment to a development officer.  One-on-one relationship buildling is just as key to planned gift success as it is for major gifts!

 

• For those of you with Bequest Likelihood (BL), Annuity Likelihood (AL), and/or Charitable Remainder Trust (CRTL) scores, you can do the same types of activities as listed above for PGL scores, but now you can take a more targeted approach with prospects for specific types of planned gifts.  For example, maybe you have a group of prospects who in the past haven't responded to your mailings re: bequest opportunities at your organization, but now they score higher with AL or CRTL scores.  Consider a prioritized list of prospects for specific communication vehicles for these types of planned gifts.  Remember that planned gifts can take several years to occur, and donors often establish planned gifts at certain times or events within their lives, so consistent and focused long-term strategies are recommended.

I would enjoy hearing from clients how they have reinvigorated their utilization of a Target Analytics project or service, so please share your stories and insights here.  I wish everyone up on the Target Analytics Community a safe and prosperous 2016!