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Justmeans power point

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  • The Empowered Philanthropist EmpowerPhil EmpowerGive Give Power The Good Gift GiveEnable
  • Make this more of a laundry list of random, crazy ideas Conclusion – marketing is important but there is no easy-to-use site to help donors make better decisions. If service is provided on nonprofit site, misses the point – lack of comparable impact data for donors.
  • An online portal with two tiers of service: Basic: Targeted at Lay Donors (individuals who make less than $80K and make up Premium: Targeted at approx. 75,000 Certified Financial Planners in the US that primarily serve Retail Donors (individuals who make between $80K and $300K and comprise $57B in annual donations). Opportunity to add philanthropic advisory services for existing clients or attract new ones with this offering.
  • *Includes statistics provided by the Certified Financial Planner Board of Standards, Financial Planning Association, and the National Association of Personal Financial Advisors -So I found a survey from 2007 saying that 66% of millionaires use financial advisors of some kind https://www.phoenixwm.phl.com/servlet/DocDelivery?DocId=docu_publ_advi_insight_0308.pdf&DocType=0 Also The study found that 68% of high net worth households used accountants in 2009, while 39% used financial or wealth advisors to help them make charitable giving decisions. And over 90% of wealthy households initiated discussions with their advisor. http://www.financial-planning.com/news/wealthy-philanthropy-bofa-2669644-1.html only 25% of entrepreneurs said financial advisors or other intermediaries help them incorporate charitable giving into their financial plans.
  • only 52% of advisors are proactively reaching out to clients, even though 63% of advisors think clients need help in this area. “Many advisors aren’t approaching clients about this,” Ginsburg said. “It’s an untapped opportunity for advisors to strengthen client relationships and grow their practices.” Advisors who don’t offer help say it’s because clients don’t ask for help (52%), donations are a client’s personal business (44%), or that the advisor lacks the expertise to offer guidance (31%). One might cynically suggest that advisors also have little interest in their clients giving their money away, too, but Ginsburg points out that in national donor-advised funds, advisors can retain control of how their clients donations are invested. Of those advisors who incorporate charitable giving advice into their planning practice, 65% say it is an important aspect of their client relationships. Eighty percent of advisors say the No. 1 benefit of offering advice on charitable planning to their clients is that it’s a relationship builder, while 72% say it positions them as a broad financial expert, 61%  say it keeps assets under the advisor’s management and 56% say it leads to a multi-generational relationship.
  • The Beta launch will allow us to fix any bugs and gather user feedback and nonprofit org data upfront. Then we’ll launch the premium version to financial planners to build credibility / establish value while continuing to refine the site based on user and nonprofit feedback with limited end user population. Finally we’ll launch the free basic version to the public after a mixed marketing / social media campaign. Improvement and upgrades will continue thereafter.

Justmeans power point Justmeans power point Presentation Transcript

  • Smarter giving, better world GiveEmpower Chelsea Katz, Adrienne Day, Jessica Lee
    • Marketing campaign that raises awareness on importance of smarter giving:
      • Traditional media campaign (TV, print, radio, billboards): Ads include: Would you invest money in a company without ever looking at its financial performance? You care about performance in every other aspect of your life. Don’t throw money away because it’s charity.
      • Target professional adults with financial investments in/on: CNN Money, Forbes, Economist
    • Social Media movement in support of impactful giving:
      • Similar strategy but targeted at growing millennial givers
      • Focus on justice angle: high impact orgs are not receiving necessary funding. Transaction cost of 30%. Power is in the hands of donors to change the world with smarter giving.
    • Any marketing effort will only be worthwhile if it can direct donors to a quick and easy evaluation and decision process, hence the need for a donor portal that:
      • Aggregates, standardizes, simplifies : easy-to-navigate, one-stop shop portal that pulls key qualitative data and quantitative metrics into a standard, digestible view for all nonprofits
      • Allows for comparison of nonprofits that fit into donors unique preferences : Like travel search sites, donors can filter by their preferences (geography served, issue area, target demographic) and compare data /metrics to find highest impact orgs that matter to them
      • Outsources the work : A premium version will allow financial planners to serve their clients philanthropic needs using our data and take away the work for the donor but change the way they think about giving through bundling with financial advisory services
    Brainstorming: Focus on social marketing
  • Brainstorming: Develop a donor information portal
    • Leverage existing data, Web 2.0 best practices and social media infrastructure:
      • Trip Advisor & Facebook Causes : Connect through Facebook and LinkedIn to learn which organizations friends and colleagues are linked to
      • Yelp & GreatNonprofits : Stakeholders such as beneficiaries, volunteers and board members post feedback on the organization. “Are you the owner” feature of Yelp – allow nonprofit staff to update qualitative data
      • Charity Navigator, Guidestar, GiveWell : Aggregate data, seals of approval, metrics, reviews, and more from existing nonprofit evaluation websites
      • News sites, Twitter, LinkedIn : Capability to "follow" the organization through media alerts and RSS feeds to see the impact your donation has enabled
    • Other ideas:
      • Exclusive opportunities with nonprofits featured on the site
      • Customized reports displaying how a user’s previous donation contributed to impact
      • Educational certification program for donor fund manager / financial planner users
      • Incentives for nonprofit participation:
        • Allow direct giving on portal for lowest possible transaction cost
        • Corporate sponsorship $ to match funds donated on site
        • “ Peer Pressure” - avoid donor skepticism for lack of participation (long-term goal)
  • Goal: Drive market opportunity of $45B across each donor segment towards high impact giving TARGETED PORTAL FEATURES REPAYER
    • Search by cause to compare impact metrics and qualitative data of selected orgs side-by-side
    CASUAL GIVER
    • Make it easy . Have an Amazon style “other high-performing organizations you might be interested in based on your past donating habits”.
    PERSONAL TIES
    • Link to Facebook Causes : search by “where my friends give”
    • Link to LinkedIn : search for orgs where connections work/worked
    FAITH BASED
    • Search by religious affiliation then compare impact
    SEE THE DIFFERENCE
    • Written / video testimonials
    • Search by location and include info on live and virtual events, volunteer opportunities
    • Yelp style stakeholder reviews
    HIGH IMPACT
    • Focus on comparing impact metrics across categories as well as providing as much contextual data as possible
  • Our two-tiered model targets both financial planners and donors with premium and basic offerings
    • TARGET MARKET:
    • Financial Planners interested in serving existing / new clients’ philanthropic needs
    • Donors without Financial Planners
    • “ Do it Yourself” Type Donors
    • Basic Features (Free)
    • Single donor profile
    • Access to aggregate data on hundreds of nonprofits
    • Ability to filter on preferences and compare orgs
    • View donation history & contribution to impact
    • Track news and media activity of nonprofits
    • Link to social media sites to view connections to orgs
    • Ability to view & add multimedia reviews of nonprofits
    • Transaction-free giving to nonprofits (multiple options)
    • Premium Features (Annual Fee)
    • Basic features PLUS
    • Access to virtual training & certification
    • Ability to manage multiple donor profiles
    • Customizable donor reports:
      • Organization comparison
      • Donation history & contribution to impact
      • Annual giving summary (tax reporting)
    • Nonprofits receive a majority of their donations , $172B, from individuals. The wealthiest 30% (those earning >$80K) contribute 75% of all individual donations
    • In 2009 39% of high net worth households used financial advisors to make charitable giving decisions and over 90% of these households initiated discussions *
    • If financial planners perform due diligence for the donor, the donor can make smarter investments in high impact nonprofits without the work
    • Bundling charitable giving with financial investing services builds a stronger case for smarter, higher impact philanthropy by reframing the conversation around social return
    We believe financial planners represent a significant opportunity to shift donor behavior “ Whatever the motivation, philanthropic choices are often inextricably linked to broader financial-planning initiatives, including tax strategies. As a result, the demand for philanthropic-related services offered by wealth management firms is also on the rise.” - www.capgemeni.com * 2009 Bank of America Report
  • Our portal offers a strong value proposition to planners
    • There are 75,000 Certified Financial Planners & Investment Advisors in the US*
    • A recent survey revealed that 48% of advisors are not discussing philanthropy at all with clients, and 31% say the reason is their own lack of expertise
    • Our service & certification will enable CFP users in a competitive market to:
      • Increase assets under management by expanding services to existing clients
      • Improve existing services such as preparation for tax reconciliation through site reporting functionality on tax deductible charitable giving (additional benefit: this will also incentivize financial planners to track donors’ giving on our site to create a feedback loop and allow us to collect giving metrics)
      • Enhance competitiveness , particularly for independent planners looking to compete with larger shops
      • Attract new clients , especially younger generations in their formative financial years since the majority of $20B “switchable” charitable dollars come from those under 50
    • The annual subscription fee financial planners pay for the premium service could either be absorbed by the firm or passed on to clients
    “ [Philanthropic advising] is an untapped opportunity for advisors to strengthen client relationships and grow their practices.” - Teri Ginsburg, Fidelity
  • Our scaled approach for implementation focuses first on the premium market of financial planners Increase in Nonprofit Data, Increase in # of Users, Continuous Improvement…
    • Develop High Level Design
    • Hire Web Design Team
    • Oversee Detailed Design
    • Manage Development
    • Conduct User Testing & Pilot Sessions
    • Soft Launch of Beta Site
    • Develop Marketing Campaign for Donors
    • Launch Multi-faceted Marketing Campaign
    • Open access to basic site for direct donors
    • Measure activity & adjust
    • Develop Marketing Campaign for Certified Financial Planners
    • Develop Marketing Campaign for Nonprofits
    • Launch premium version of site for CFP’s
    • Track usage data and user feedback
    • Ongoing site maintenance & upgrades
    • Monitor marketing campaign results & adjust
    • Improve and expand on features per user needs
  • We’ll “walk the talk” by closely tracking and measuring our impact
  • This rough mock-up highlights key site functionality Social Media Reviews (14 ) Click for more reviews Health Budget > $10M > 3 star rating Works in: Rwanda Organizations that match your criteria: Global Health Corps Doctors without Borders Partners in Health Facts & Figures: XX Served Reviews (0) Facts & Figures: XX Served Reviews (2) Compare Partners in Health is an international NGO dedicated to delivering quality health care to people and communities devastated by the joint burdens of poverty and disease. [More] Current criteria: Sort by: 1 Geography 2 Review score 3 Number served
    • Facts & Figures (FY09)
    • 1.8M patient visits (Rwanda)
    • 2,884 cervical cancer vaccines distributed (Rwanda only)
    • Budget: $152M- click for 2010 990
    • 141% increase in budget from FY09-FY10
    • Highest paid staff member: $150,466
    • Givewell Notable Rating
    • Charity Navigator Efficiency Rating: 64.47 (4 Stars)
    Jessica L and Adrienne D Like! this org. Your Connection Henry E. worked here as the Medical Director.