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Kindful Academy Slides - Wealth Insights for Annual Giving.pdf

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Kindful Academy Slides - Wealth Insights for Annual Giving.pdf

  1. 1. Welcome to Kindful Academy Thank you for joining us! Please tell us where you are joining us from and what the weather is like where you are….drop it in the CHAT!
  2. 2. Join the Online Audio or Dial in! +1 669 900 6833
  3. 3. Ask questions Live Transcript Share ideas Housekeeping
  4. 4. Housekeeping We will share the slides and recording of this session with you via email later today. The resources mentioned in the session will be linked on the Resources slide at the end of this presentation. Any questions we are not able to answer live or in the Q&A will be addressed after the session via a follow-up. If you need further assistance, please reach out to Our support team is amazing!
  5. 5. Using Wealth Insights for Annual Giving
  6. 6. Carolyn Edrington Carolyn has over 20 years’ experience in nonprofit fundraising and annual development programs. She came to Bloomerang to help more nonprofits achieve their goals by using quality CRMs and online fundraising tools. Carolyn got her nonprofit fundraising start by participating in the Team In Training Marathon program and never looked back. She lives in Nashville, TN with a few cats and lots of yarn and knitting needles, and may even train for another marathon. Or a half. Customer Success Manager
  7. 7. Agenda 1 2 3 4 The Psychology of Giving Wealth Insights Overview & Capacity to Give Segment by Capacity and other filters Rethink our Ask Arrays and Ask Messages 5 Update Pages and Plugins 6 Q&A Objectives Creating Community by Segmenting your Donors Use Your Data to Increase Annual Giving
  8. 8. The Psychology of Giving
  9. 9. Affinity Af·fin·i·ty /əˈfinədē/ Ben Franklin Effect: When we do someone a favor, we end up liking them more. Often more than if they had done a favor for us. Objective 1: Create Community Through Segmentation a spontaneous or natural liking or sympathy for someone or something By asking a favor you are building the idea in their head that you are worth that favor, and therefore liked. ~Stanford Univ./J Jecker, D Landy
  10. 10. Change the Default Ask Array If you take only one thing away from today’s webinar: Please adjust your default ask array in General Settings. Objective 1: Create Community Through Segmentation
  11. 11. Why Low to High? Users will infer a psychology whether or not the designers intended it. Designers must embed appropriate psychological cues. ~NextAfter/CaringBridge High-to-low emphasis - 15.7% DECREASE in Gifts - 11.3% DECREASE in Average Gift size - 25.2% statistically significant DECREASE in giving revenue. Objective 1: Create Community Through Segmentation What is the logic of starting your ask array with the higher amount?
  12. 12. “We have found that people give to not-for-profits not as faceless organizations but … as people…” ~Josh McQueen “People won’t give if we don’t ask. “ ~My former Executive Director Every. Single. Day. Objective 1: Create Community Through Segmentation
  13. 13. What is Wealth Screening in General? A way to research donors' past giving history and current assets to help determine your approach with your constituents. Past Giving History Current Assets Wealth Potential WHY? It empowers fundraisers to easily identify major gift opportunities and help target the right contacts with the right ask, saving time and raising more funds. Objective 1: Create Community Through Segmentation
  14. 14. Wealth Insights Overview Propensity to Give A ranking of a prospect’s ability and propensity to make a major gift ($5,000 or more is considered to be a "major gift".) Contact Data Not Eligible = Organizations or Persons outside the United States Detailed Profiles Access to detailed information about high-value prospects
  15. 15. Where does this information live in the database? Overall Results
  16. 16. Propensity to Give and Detailed Profiles
  17. 17. Math is Hard
  18. 18. Capacity To Give Takes The Guesswork Out of the Ask Use capacity data to segment your contacts Incorporate Capacity into your “Target Ask” decision-making process Assign high Capacity contacts to a fundraising officer to build better relationships with those contacts
  19. 19. Our Focus Today - Capacity to Give Objective 1: Create Community Through Segmentation
  20. 20. Segment Your Contacts
  21. 21. Create Campaign Pages or Plugins for Each Segment $1000 - $2500. Keep ask buttons reasonable, make Impact Statement match the amount. ex: $250 covers travel to the hospital < $500 - Thoughtful Impact Statements to make the donor feel like they are really making a difference and part of the community. Ex: If each of you gives $X, together we’ll raise $Y. $5k to $25k - Bigger ask = stronger Impact Statements. Ex: $600 pays for one group to clean the beach. Possible Matching Gift Donor - show them how you’ll do it. $50k+ Major Gift Pipeline, Possible Matching Gift Donor Objective 1: Create Community Through Segmentation
  22. 22. Let’s Go Live Capacity To Give 1. Left Menu > Click Fundraising 2. Click Wealth Insights 3. Click the Capacity Category 4. Right menu, Click Select All 5. Click Create Report 6. Choose the fields needed for email 7. Add email group to email service 8. Use new URL send them to their new giving page/s. 9. Brag to your boss that you’re raising more money.
  23. 23. Takeaway: Use or improve your impact statements. Objective 2: Increase Your Annual Giving Match the Ask Array to the Impact Match the Low and High Amounts to the Proper segment Create a Community for the Donor
  24. 24. Ever had your E.D. or Board Member walk out of a meeting and ask you to raise 10% more? Objective 2: Increase Your Annual Giving
  25. 25. 1. Use Capacity Level to run report 2. Export to Spreadsheet 3. Sort Data to find average, mean, median 4. Choose your ask array for 10% more 5. Example - 200 donors, average gift is $20. Make the lowest ask button say $22 for a 10% increase. 10%? No Problem! Objective 2: Increase Your Annual Giving
  26. 26. Dig A Little Deeper Objective 2: Increase Your Annual Giving
  27. 27. 1. Dig deeper for your 10% increase ask amount: Export the report to find average or mean gift, let the data show you what that group has been giving and lift the lowest ask amount by 10%. 2. Create web pages with impact statements for a recurring donor campaign: add your new plugin with the corresponding ask array to your beautifully branded website. Use the custom fields to create more impact. 3. Include other filters like event attendance: help your board have warmer conversations at events when they talk to donors in person. 4. Create an affinity group: emails to donors with the same capacity level who also share the same interests in one of the aspects of your mission. Wait! There’s more! Objective 2: Increase Your Annual Giving
  28. 28. A few quick examples of Pages and Plugins Simple Campaign Pages Customized Campaign Page Simple Plugin Customized Page with Plugin Objective 2: Increase Your Annual Giving
  29. 29. Questions?
  30. 30. Resources Psychology Studies: Liking a Person as a Function of Doing Them a Favor The effect of a reverse (high to low) gift array on donations Is Your Online Donation Form Turning Off Donors? Kindful Help Center Wealth Insights Overview Create and Edit Campaign Pages
  31. 31. Target the right contacts, identify major gift opportunities, and make the right ask. Meet Your Next Major Donor with Wealth Insights
  32. 32. Thank you for attending!