Chase 2010 - Wealth Intelligence for Dummies

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Factually Researched Wealth Screening and Wealth Intelligence for Dummies

Ever wondered how other charities seem to know so much about their wealthier supporters and prospects? Do you know who the high net worth individuals are in your database; those with a substantial disposable income and who are already supporting your organisation?
by Steve Cast, Redbourn Business Systems

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Chase 2010 - Wealth Intelligence for Dummies

  1. 1. CHASE 2010<br />Wealth Intelligence for Dummies<br />23rd February 2010<br /> © Steve Cast<br />Redbourn Business Systems Limited<br />
  2. 2. POLITE NOTICE<br />This presentation is <br />Copyright © Steve Cast, of Redbourn Business Systems Limited 2010 with all rights reserved. Please do not distribute this presentation without first confirming with steve.cast@redbourn.co.uk<br />Thank You<br />Wealth Intelligence for Dummies Slide 2 © Steve Cast, Redbourn Business Systems Limited<br />
  3. 3. PLEASE<br />SWITCH OFF<br />OR SILENCE<br />YOUR<br />MOBILE PHONES<br />THANK YOU!<br />Wealth Intelligence for Dummies Slide 3 © Steve Cast, Redbourn Business Systems Limited<br />
  4. 4. When?<br />Why?<br />What?<br />Question and Answer <br />Session<br />At The End<br />Who?<br />Why?<br />How?<br />When?<br />Who?<br />What?<br />Wealth Intelligence for Dummies Slide 4 © Steve Cast, Redbourn Business Systems Limited<br />
  5. 5. Who’s the Wealthiest?<br />Who are the “hidden gems”<br />In your supporter<br />database?<br />Wealth Intelligence for Dummies Slide 5 © Steve Cast, Redbourn Business Systems Limited<br />
  6. 6. Introduction<br />Wealth Intelligence for Dummies Slide 6 © Steve Cast, Redbourn Business Systems Limited<br />
  7. 7. Introduction<br />Wealth Intelligence for Dummies Slide 7 © Steve Cast, Redbourn Business Systems Limited<br />
  8. 8. Wealth Intelligence for Dummies<br />What is Wealth Intelligence?<br />Taking You On A Wealth Journey<br />Using The Results <br />Next Steps… <br />Wealth Intelligence for Dummies Slide 8 © Steve Cast, Redbourn Business Systems Limited<br />
  9. 9. For a copy of this presentation please visit www.redbourn.co.uk or leave your business card with my colleague Annie, or visit us on Stand 9 today or tomorrow. <br />Please Give Us Your Feedback<br />feedback@redbourn.co.uk<br />Wealth Intelligence for Dummies Slide 9 © Steve Cast, Redbourn Business Systems Limited<br />
  10. 10. Wealth Intelligence for Dummies<br />What is Wealth Intelligence?<br />What is Wealth Intelligence?<br />Taking You On A Wealth Journey<br />Using The Results <br />Next Steps… <br />Wealth Intelligence for Dummies Slide 10 © Steve Cast, Redbourn Business Systems Limited<br />
  11. 11. The Identification of Liquid Asset Millionaires<br />What Is Wealth Intelligence?:<br />Wealth Intelligence for Dummies Slide 11 © Steve Cast, Redbourn Business Systems Limited<br />
  12. 12. Factually Researched – Not simply a ‘finger in the air’ best guess. <br />Introducing the Wealth Intelligence Database:<br />Database of Liquid Asset Millionaires containing over 240,000 of the wealthiest names in the UK. <br />. <br />…and growing<br />Wealth Intelligence for Dummies Slide 12 © Steve Cast, Redbourn Business Systems Limited<br />
  13. 13. Match At Two Levels:<br />Individual & Family Name<br />(at same address)<br />Introducing the Wealth Intelligence Database:<br />Typical Match Rates Of Between <br />0.5% and 5%.<br />Wealth Intelligence for Dummies Slide 13 © Steve Cast, Redbourn Business Systems Limited<br />
  14. 14. Introducing the Wealth Intelligence Database:<br />Wealth Intelligence for Dummies Slide 14 © Steve Cast, Redbourn Business Systems Limited<br />
  15. 15. Introducing the Wealth Intelligence Database:<br />Prospecting For Gold (1 of 2):<br /><ul><li> Established for Over 15 years
  16. 16. Prepared by Fundraising Researchers
  17. 17. Sourced From Information In The</li></ul> Public Domain<br />Wealth Intelligence for Dummies Slide 15 © Steve Cast, Redbourn Business Systems Limited<br />
  18. 18. Introducing the Wealth Intelligence Database:<br />Prospecting For Gold(2 of 2):<br /><ul><li> Information Sources Include:</li></ul>Debretts, Who’s Who, Dash and the<br /> Times Rich List (see your handout)<br /><ul><li> Over £200 Million Capital Appeals</li></ul>Wealth Intelligence for Dummies Slide 16 © Steve Cast, Redbourn Business Systems Limited<br />
  19. 19. Introducing the Wealth Intelligence Database:<br />Matrix Data:<br /><ul><li> Established For Over 20 years
  20. 20. Prepared by Financial Sector
  21. 21. £10 Billion Raised For New Funds
  22. 22. 2.5 Million Records (of which there </li></ul> is a cross over with PFG). <br />Wealth Intelligence for Dummies Slide 17 © Steve Cast, Redbourn Business Systems Limited<br />
  23. 23. Introducing the Wealth Intelligence Database:<br />Offers the widest range of wealth intelligence services in the UK.<br />Published on three software systems with additional profiles.<br />Wealth Intelligence for Dummies Slide 18 © Steve Cast, Redbourn Business Systems Limited<br />
  24. 24. Introducing the Wealth Intelligence Database:<br />Matrix - large private investment transactions<br />PFG - Sources of wealth information<br />Computershare<br />Corporate registrars and investor intelligence<br />Lloyds<br />Corporate registrars and investor intelligence<br />Capita<br />Corporate registrars and investor intelligence<br />Experian<br />UK’s largest single source of consumer data<br />DNB<br />UK’s largest resource for business data and corporate genealogy<br />Registrars<br />Key sports personalities<br />Leading literary figures<br />Chairman and managing directors of leading companies - Directors of major advertising agencies and PR consultancies, editors, publishers and journalists <br />Art and antique dealers<br />Artists, composers and musicians<br />Leading stockbrokers, bankers and people of influence in the City<br />Bishops and church leaders<br />Film, theatre and TV actors<br />Film, TV and radio producers and directors<br />Prominent members of the legal profession<br />Peers and Baronets,<br />etc.<br />Trustees of grant giving foundations and charities<br />Directors of UK-based overseas banks and financial institutions<br />Wealth Intelligence for Dummies Slide 19 © Steve Cast, Redbourn Business Systems Limited<br />
  25. 25. Wealth Intelligence for Dummies<br />What is Wealth Intelligence?<br />Taking You On A Wealth Journey<br />Taking You On A Wealth Journey<br />Using The Results <br />Next Steps… <br />Wealth Intelligence for Dummies Slide 20 © Steve Cast, Redbourn Business Systems Limited<br />
  26. 26. A Wealth Intelligence Journey<br />Prepare Data<br />Data Audit<br />Wealth Tag?<br />Snapshot Reports?<br />(incl. Attributes) <br />Data Mining?<br />Wealth Intelligence for Dummies Slide 21 © Steve Cast, Redbourn Business Systems Limited<br />Prepare Data<br />Data Audit<br />Wealth Tag?<br />Snapshot Reports?<br />(incl. Attributes)<br />Data Mining?<br />
  27. 27. A Wealth Intelligence Journey<br />Prepare Data<br />Database extract of URN, Title, Forename, Surname, Address (including postcode)<br />Optionally RFV<br />Wealth Intelligence for Dummies Slide 22 © Steve Cast, Redbourn Business Systems Limited<br />
  28. 28. A Wealth Intelligence Journey<br />Data Audit<br />Statistics and costs on:<br /><ul><li> Data Cleaning
  29. 29. Supporter Profiling
  30. 30. Wealth Screening</li></ul>Wealth Intelligence for Dummies Slide 23 © Steve Cast, Redbourn Business Systems Limited<br />
  31. 31. A Wealth Intelligence Journey<br />Powered by Redbourn’s AdvantageFundraiser <br />and CCR Data<br />Wealth Intelligence for Dummies Slide 24 © Steve Cast, Redbourn Business Systems Limited<br />
  32. 32. Demonstration – Data Cleaning<br />Powered by Redbourn’s AdvantageFundraiser <br />and CCR Data<br />Wealth Intelligence for Dummies Slide 25 © Steve Cast, Redbourn Business Systems Limited<br />
  33. 33. Demonstration – Data Cleaning<br />Powered by Redbourn’s AdvantageFundraiser <br />and CCR Data<br />Wealth Intelligence for Dummies Slide 26 © Steve Cast, Redbourn Business Systems Limited<br />
  34. 34. Demonstration – Data Cleaning<br />Powered by Redbourn’s AdvantageFundraiser <br />and CCR Data<br />Wealth Intelligence for Dummies Slide 27 © Steve Cast, Redbourn Business Systems Limited<br />
  35. 35. Demonstration – Data Cleaning<br />Powered by Redbourn’s AdvantageFundraiser <br />and CCR Data<br />Wealth Intelligence for Dummies Slide 28 © Steve Cast, Redbourn Business Systems Limited<br />
  36. 36. A Wealth Intelligence Journey<br />WEALTH TAG ONLY<br />Wealth Intelligence for Dummies Slide 29 © Steve Cast, Redbourn Business Systems Limited<br />
  37. 37. A Wealth Intelligence Journey<br />Wealth Tag Only:<br /><ul><li> Simple Flag Indicating Wealth Match
  38. 38. Allows Some Searching/Segmentation
  39. 39. No Wealth Attributes
  40. 40. No Further Analysis or Documents</li></ul>Wealth Intelligence for Dummies Slide 30 © Steve Cast, Redbourn Business Systems Limited<br />
  41. 41. Wealth Intelligence for Dummies<br />Case Study 1<br />In 2008, an animal shelter charity ran a wealth screening exercise and tagged their database of supporters with the single wealth tag. They then ran a “tea and cakes” afternoon, for a new cattery, inviting the tagged individuals to attend. This single event raised over £10K in just one afternoon. They have since gone on to run similar events with continued success. <br />Source: CCR Data<br />Wealth Intelligence for Dummies Slide 31 © Steve Cast, Redbourn Business Systems Limited<br />
  42. 42. A Wealth Intelligence Journey<br />If We Keep Going<br />What’s Just Over The Horizon?<br />Wealth Intelligence for Dummies Slide 32 © Steve Cast, Redbourn Business Systems Limited<br />
  43. 43. A Wealth Intelligence Journey<br />SNAPSHOT REPORTS<br />INCORPORATING<br />WEALTH ATTRIBUTES<br />Wealth Intelligence for Dummies Slide 33 © Steve Cast, Redbourn Business Systems Limited<br />
  44. 44. A Wealth Intelligence Journey<br />Snapshot Reports/Wealth Attributes:<br /><ul><li> 30+ Attributes
  45. 45. Allows Better Searching/Segmentation
  46. 46. Some Further Analysis Available
  47. 47. Target The Best Donors At The Best</li></ul> Time<br />Wealth Intelligence for Dummies Slide 34 © Steve Cast, Redbourn Business Systems Limited<br />
  48. 48. Wealth Intelligence Attributes (1 of 2):<br /><ul><li> URN
  49. 49. Date Added
  50. 50. Gender
  51. 51. Primary Addressee
  52. 52. Title (x2)
  53. 53. First Name
  54. 54. Middle Name
  55. 55. Surname
  56. 56. Suffix (x2)
  57. 57. Maiden Name
  58. 58. Address Lines 1-3
  59. 59. City
  60. 60. County
  61. 61. Postcode
  62. 62. Country
  63. 63. Postal District
  64. 64. Region
  65. 65. Deceased Flag
  66. 66. Deceased Date
  67. 67. Birth Date</li></ul>Wealth Intelligence for Dummies Slide 35 © Steve Cast, Redbourn Business Systems Limited<br />
  68. 68. Wealth Intelligence Attributes (2 of 2):<br /><ul><li> Wealth Band (£1M - £50M+)
  69. 69. Age
  70. 70. Age Band
  71. 71. Primary Business Profession
  72. 72. Primary Business Organisation
  73. 73. Flags: </li></ul> Charitable Trust,<br /> Grant Making Trustees, <br /> Company<br />Wealth Intelligence for Dummies Slide 36 © Steve Cast, Redbourn Business Systems Limited<br />
  74. 74. Wealth Intelligence for Dummies<br />Wealth Flag or Attributes<br />Wealth Intelligence for Dummies Slide 37 © Steve Cast, Redbourn Business Systems Limited<br />
  75. 75. Sarah’s Top 5 Wealth Attributes<br />Wealth Intelligence for Dummies Slide 38 © Steve Cast, Redbourn Business Systems Limited<br />
  76. 76. A Wealth Intelligence Journey<br />Is There a Pot of Gold<br />Waiting at the End of the Rainbow?<br />Wealth Intelligence for Dummies Slide 39 © Steve Cast, Redbourn Business Systems Limited<br />
  77. 77. A Wealth Intelligence Journey<br />Data Mining<br />Segmenting the data by using the wealth attributes and/or your own attributes. <br />For example: <br />Recency,<br />Frequency,<br />Value. <br />Wealth Intelligence for Dummies Slide 40 © Steve Cast, Redbourn Business Systems Limited<br />
  78. 78. A Wealth Intelligence Journey<br />Live Demonstration<br />from <br />Sarah Cartland of<br />CCR Data<br />Wealth Intelligence for Dummies Slide 41 © Steve Cast, Redbourn Business Systems Limited<br />
  79. 79. Wealth Intelligence for Dummies<br />What is Wealth Intelligence?<br />Taking You On A Wealth Journey<br />Using The Results <br />Next Steps… <br />Using The Results <br />Wealth Intelligence for Dummies Slide 42 © Steve Cast, Redbourn Business Systems Limited<br />
  80. 80. It’s All About <br />The Right Ask<br />What Level of Gift?<br />Or Stewardship<br /> Wealth Intelligence for Dummies<br />Using the Results <br />Wealth Intelligence for Dummies Slide 43 © Steve Cast, Redbourn Business Systems Limited<br />
  81. 81. Wealth Intelligence for Dummies<br />Case Study 2<br />In 2009, a leading university ran a wealth intelligence screen against their data. They identified a liquid asset millionaire alumnus giving £50 per month, but with a greater gift capacity. After data mining they arranged a face to face visit and in conclusion of that meeting received a cheque for £0.5M. <br />Source: CCR Data<br />Wealth Intelligence for Dummies Slide 44 © Steve Cast, Redbourn Business Systems Limited<br />
  82. 82. Wealth Intelligence for Dummies<br />Case Study 3<br />In 2009 a leading international development charity used the wealth screening process to identify liquid asset millionaires across its entire live data set.  These supporters were wealth tagged on the database and a relationship building process was initiated.  These potential high value donors have received tailored communications about the organisation’s work and have been invited to an evening event with keynote speakers.  The emphasis with this project is to build relationships with these supporters so they identify with the organisation, the aim being sustained funding in future rather than one off donations.<br />Source: Redbourn Business Systems <br />Wealth Intelligence for Dummies Slide 45 © Steve Cast, Redbourn Business Systems Limited<br />
  83. 83. Wealth Intelligence for Dummies<br />What is Wealth Intelligence?<br />Taking You On A Wealth Journey<br />Using The Results <br />Next Steps… <br />Next Steps… <br />Wealth Intelligence for Dummies Slide 46 © Steve Cast, Redbourn Business Systems Limited<br />
  84. 84. Wealth Intelligence for Dummies<br />Next Steps<br />Wealth Intelligence for Dummies Slide 47 © Steve Cast, Redbourn Business Systems Limited<br />
  85. 85. Wealth Intelligence for Dummies<br /> Summary<br />What is Wealth Intelligence?<br />Identify Liquid Asset Millionaires<br />Taking You On A Wealth Journey<br />Give or Influence <br />£5K Gift <br />Factually Researched<br />Wealth Intelligence <br />Database<br />Prepare Data<br />Data Audit<br />Wealth Tag Only?<br />Wealth Attributes?<br />Data Mining<br />Using The Results <br />Next Steps… <br />The Right Ask <br />The Right Time <br />The Right Level <br />Prepare for Audit <br />Carry Out Audit <br />Apply Tags or <br />Apply Attributes <br />Prepare Campaign <br />Data Mining <br />Qualified Approach <br />Wealth Intelligence for Dummies Slide 48 © Steve Cast, Redbourn Business Systems Limited<br />
  86. 86. Wealth Intelligence for Dummies<br /> Summary<br />Wealth Intelligence <br />- Not rocket science<br />Wealth Intelligence <br /><ul><li>Simply What It Says </li></ul>On The Tin<br />Wealth Intelligence for Dummies Slide 49 © Steve Cast, Redbourn Business Systems Limited<br />
  87. 87. Wealth Intelligence for Dummies<br />Need More Help?<br />Wealth Intelligence for Dummies Slide 50 © Steve Cast, Redbourn Business Systems Limited<br />
  88. 88. Wealth Intelligence for Dummies<br />Question and Answer Session<br />Wealth Intelligence for Dummies Slide 51 © Steve Cast, Redbourn Business Systems Limited<br />
  89. 89. For a copy of this presentation please visit www.redbourn.co.uk or leave your business card with my colleague Annie, or visit us on Stand 9 today or tomorrow. <br />Please Give Us Your Feedback<br />feedback@redbourn.co.uk<br />Wealth Intelligence for Dummies Slide 52 © Steve Cast, Redbourn Business Systems Limited<br />
  90. 90. Thank You For Your Time<br />
  91. 91. Wealth Intelligence for Dummies<br />Need More Help?<br />Wealth Intelligence for Dummies Slide 54 © Steve Cast, Redbourn Business Systems Limited<br />

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