How 1st Global Helps Their Clients With Prospect Intelligence

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For Certified Public Accountants who want to expand their financial services portfolios to include wealth management, 1st Global provides the tools and resources needed to make it happen.

Prospect Intelligence and Audience Development for Financial Advisors

1st Global uses FindWealth 8 and Batch Express to create targeted prospecting lists for their affiliated firms and to customize research results to support their client strategies. With WealthEngine, they’re able to help their firms leverage wealth indicators in order to strengthen their relationships with existing clients and introduce themselves to new ones.

While the neighborhood one lives in is usually a pretty good indicator of wealth, it’s not the only one. Using zip codes alone can make it hard for financial services firms to identify the “millionaire next door”. WE gives 1st Global the ability to uncover latent prospects, giving their affiliated firms a competitive edge.

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WealthEngine: Continuing the Momentum

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When a company is people-focused, significant progress can be made. At WE, our focus on our customers, our teams and our partners has led to reaching new milestones and product innovation.

To name a few highlights…

Our WealthEngine team of over 150 employees is proud of the momentum we’ve accomplished and we couldn’t have done it without our valued customers, partners and shareholders. Our customers are critical to our success and we strive to provide them with the best solutions to achieve their marketing and fundraising goals.  Through new leadership, enhanced products and solutions, and strategic partner alignment, WE continues to reach new milestones every day.

Don’t take our word for it. Our customers say it better than we can:

“I have been in the nonprofit  community for more than forty years, working with WealthEngine for more than 10 years I have relied on WealthEngine as a critical resource to identify, screen and evaluate prospects for over 8,000 chapters. Through data screening, analytics and modeling, and consulting, WealthEngine has always played an integral role in building targeted fundraising strategies and supporting national events.”

“I’ve watched WE grow over the years and they always seem to astonish me with the things they deliver.  As we move forward, I just might come out of retirement just so I can see what they come up with next/”

Helen Lucas, Senior Researcher
American Red Cross.

We’re not done yet.  Look for more in the coming months! We strive to make 2015 our most momentous year yet as we continue to collaborate with our customers and build our internal teams to respond to our customers’ needs. If you want to learn more details about our latest developments, check out our press release.

Retailers Use Data-Driven Marketing for Holiday Promotions

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Every year consumers lament that they don’t even get through Halloween before they start getting inundated with holiday marketing pitches. This is compounded with the complaints companies are starting to receive around their remarketing. If a consumer has just made a purchase from a retailer, the last thing they want is a barrage of offers to buy the very same handbag they just purchased. Right?

So what can you do this year to improve your results and empower consumers to do more of their holiday shopping with you?

Here are a few tactics to incorporate into your overall marketing strategy for the holidays.

  • Screen your current customers based on wealth to determine the appropriate targeted promotion.
    • Base your discount offer on their net worth. For example, you might offer $10 off a $100 purchase to one segment and $50 off a $500 purchase to another depending on their income and assets.
    • Look at price points of products you would like to promote and feature those that align with the household income and spending capacity of your customers, specifically.
  • Develop a model of last year’s best customers now so you can segment and personalize your messaging when the time is right.
    • Take the data you already have around your customers and their buying behavior and then let WealthEngine help develop a model of your ideal customer using our wealth scores and analytics. By modeling your best customers, you can then create messaging to increase loyalty for increased business this year and capture market share from your competitors.
  • Surprise and delight new potential customers in a way that entices them to subscribe to your list in time for holiday offers.
  • Use exclusive events to capture the attention of your VIP customers and create a unique shopping experience.
    • Develop a geo-targeted list and further narrow it down based on wealth and lifestyle factors to bring new customers into your store. Consider hosting an event after-hours for this exclusive group, or provide VIP access in advance of your store opening and provide special offers and experiences for those in attendance. During the event, inspire sharing on social channels with lots of photo opportunities.
  • There are always people who wait to shop at the last minute, make sure your offer is the one that brings them joy vs stress.
    • Bucket your list into two segments: those who have already shopped with you during the holiday season and those who have not. For those who have purchased, be sure to suppress any offers they have already responded to and instead, build an offer based on their wealth and complementary products and services. For those who have yet to make a holiday purchase, be sure your offer is one they can’t refuse.

This year, smart marketers will take a more respectful approach and reap the rewards. With all the marketing noise between now and the holidays, the retailers who take the time to understand not only buying behavior, but also holiday budgets and capacity to spend, will win.

Want to find out more about how WE can help you with your holiday marketing this year?

Request a demo now.

WealthEngine Continues Growth Momentum in First Half 2015

June Biggest Month in Company History; Achieved 33% YOY Revenue Growth

WealthEngine (WE), the leading provider of predictive marketing analytics and audience development services through wealth intelligence, announces unprecedented success in the first half of the year with strong sales growth, critical key customer wins and strengthening of strategic partner relationships.

“We are very pleased with the strong start to the year in both revenue and key hires,” said WealthEngine president and chief executive officer Mark Logan. “In just a short six months, we have accelerated our already strong growth, and added significantly to the team so that we can continue this growth in the near future. Building on our momentum and delivering value to our customers is a critical priority and our aggressive innovation road map is a reflection of these facts. I’m confident 2015 will be a milestone year for the company as we execute on our 3 year plan to hit $100m in revenue”.

First Half 2015 Highlights

 “WealthEngine provides audience development and marketing solutions for thousands of organizations that need consumer-based wealth information.  With the launch of our API solution, WE enables simple, real-time, wealth-data integration for any third party applications”, notes Bobby Yazdani, WealthEngine’s Co-Chairman. “With the continual evolution of the company’s solutions, we have seen positive movement in all key market segments including healthcare, education, nonprofit, financial services and luxury, as well as our international operations.“ 

Nonprofit

WealthEngine continues to be the leading provider of wealth data and analytics into the non-profit market and is responsible for driving the fundraising efforts of top nonprofit organizations including health, faith-based, animal rights organizations and more.  The company added over 188 new non-profit customers in the first half of 2015 including significant wins at Catholic Relief Services, FINCA International, and World Wildlife Fund, bringing our industry-leading non-profit customer base to over 2,300.

“I have been in the nonprofit  community for more than forty years, working with WealthEngine for more than 10 years”, stated Helen Lucas, Senior Researcher,  American Red Cross. “I have relied on WealthEngine as a critical resource to identify, screen and evaluate prospects for over 8,000 chapters. Through data screening, analytics and modeling, and consulting, WealthEngine has always played an integral role in building targeted fundraising strategies and supporting national events.”

Higher Education

The company added 48 new colleges or universities during the first half of 2015, including strategic wins with Brown University, Temple University, and Mercer University. This brings our customer base to 760 Higher Ed institutions, maintaining market share lead.

Financial Services

Strategic wins this period included Northern Trust and TransUnion adding to the list of over 120 financial services firms that rely on WealthEngine to leverage customer analytics and insights, marketing segmentation, and targeting high-net-worth clients.

“Financial services will be essential growth engines for us in the future.  We present a strong value proposition and ROI particularly for private bankers looking to target and secure new clients”, noted Mark Logan.  “WealthEngine will continue to make strategic investments in this market”.

United Kingdom

Business operations here continued to thrive in the first half with significant signings at Marie Curie Cancer Care, Cardiff University, and The Open University.  WealthEngine continues to be the market leader in the UK with 209 active clients, 24 new clients in the first half and 48% growth over the first quarter. 

Strategic Partners

WealthEngine has a rich history of working with hundreds of fundraising consultants, dozens of donor management systems, large data companies and strategic CRM solutions.   All twenty-six WealthEngine DMS and CRM partners have launched or neared completion of integrating with our latest wealth platform, FW8. As a Silver Salesforce ISV Partner, the company continues to build momentum with our Salesforce channel. Second quarter revenues including customers who utilize a Salesforce integration grew at 56% year over year.

About WealthEngine
WealthEngine™, Inc. is the leading provider of predictive marketing analytics, audience development and wealth intelligence services to nonprofit organizations, financial services, and luxury brands. Approximately four thousand clients use WealthEngine’s products and solutions for comprehensive consumer insights. Headquartered in Bethesda, MD, WealthEngine serves both the United States and the United Kingdom. For more information, please visit www.wealthengine.com

Press Contacts
Robin Bectel, Allison+Partners | 703.244.2242 | WealthEngine@allisonpr.com
Jackie S. Graziano, WealthEngine | 240.483.4912 | jgraziano@WealthEngine.com

Industry Players Disagree on Whether Jet.com’s Business Strategy Is Sustainable

Jet.com went live today with plenty of buzz, but its long-term viability is questionable. The well-funded e-commerce website offers consumers an alternative to Amazon for seemingly all of their online shopping needs. Industry watchers are fascinated with the new player for two chief reasons. First, there’s Jet.com founder Marc Lore, who also launched Quidsi, the parent company of Diapers.com and Soap.com, before selling it for $545 million to Amazon in 2010. The second reason centers on whether or not his business model can survive over the long haul.

Marketing Technology Q & A with Leo Scott: Data at Scale

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At WealthEngine, we understand that our customers care a lot about understanding data and gleaning the actionable insights necessary to move the needle. We also know that they care a lot about privacy and data security. So does our Chief Technology Officer, Leo Scott.

Recently, Leo took the time to answer questions we’ve heard are top of mind for our customers from a technologist’s point of view. We’re sharing these as a series here on the WealthEngine blog weekly.

This week he’s talking about how fast-growth companies can scale the enormous amounts of data.

For an organization that has an aggressive growth plan, what’s your advice for scaling data to keep up with that growth?

As your organization grows, it will be more important to automatically collect data that feed metrics that are used to drive the strategy of the business. Collecting marketing data from your website, using web analytics tools like Clicky or Chartbeat along with marketing automation data using tools like Marketo will be important. As your customer base grows, better segmenting your customers so you can have a more effective sales process will be important.

On the operations side of your business, leveraging tools and technology that can horizontally scale with your business is very important. Leveraging cloud services, such as Amazon Web Services can allow your business to incrementally scale its data tracking and storage infrastructure as your business grows.

Want a demo of WealthEngine to see how WE can help you with audience development, marketing personalization and wealth insights? Share your contact information and we’ll be in touch soon.


Leo Scott is the Chief Technology Officer at WealthEngine.  As an accomplished business executive who founded a number of startup ventures and has worked with a variety of large public companies, Leo has spent the last 20 years building technologies that harness massive amounts of data and enable businesses and consumers to more easily interact with that data through Internet and mobile technologies.  Over the years, he has maintained a hands-on level of experience with the latest technologies, not only tracking the latest trends and tools, but working to develop a deeper working knowledge of new technologies allowing him to see technical approaches and opportunities in unique ways rarely seen by other individuals.

Find the Sweet Spot Between Personalization and Privacy

Ask your average consumer three simple questions:

  1. Do you dislike spam? Typical answer: “Yes, of course.”  
  2. Do you like personalized consumer experiences? Typical answer: “Yes, of course.” 
  3. Are you willing to give up a certain amount of personal information so vendors can personalize engagements with you? Typical answer: “Errrrrmmmmm… ”

And there’s the rub. You can’t have it all. 

Marketing Technology Q & A with Leo Scott: Putting the Intelligence in Wealth Intelligence

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At WealthEngine, we understand that our customers care a lot about understanding data and gleaning the actionable insights necessary to move the needle. We also know that they care a lot about privacy and data security. So does our Chief Technology Officer, Leo Scott.

Recently, Leo took the time to answer questions we’ve heard are top of mind for our customers from a technologist’s point of view. We’re sharing these as a series here on the WealthEngine blog weekly.

This week he’s talking about our approach to wealth intelligence as it pertains to a person’s propensity to give.

While other wealth intelligence platforms focus on donation history first and wealth factors second, WealthEngine looks at wealth first and then propensity to give. Why?

The findings we have are that wealth is a particularly important predictor when trying to maximize donations from a campaign.  We have a propensity to give score that actually factors in wealth along with other factors and have found this score to be strongly predictive of whether somebody is going to be a significant donor.

It’s common among the industry and other competitors to use donation history as the key driver for future campaigns, but we have found that this is not necessarily the best way to maximize the amount of donations collected from campaigns.  

This can be simply explained.  

Just because somebody has given $25 to one organization doesn’t mean that they are the best person to talk to when raising money for another organization.  But, if you know that somebody has a net worth of $100M, there is a good chance they will be somewhat philanthropic. And, if they have any affinity at all toward your cause, there is a good chance they will give something that would be significant for your organization.  Therefore, by including data about a person’s wealth and their past donation history and interests, WealthEngine can developer highly predictive scores and models for our clients.

If you’re considering investing in a predictive analytics and wealth intelligence platform, make sure you ask all of the solution providers you are considering their approach to wealth intelligence. Want a demo of WealthEngine to see how WE can help you with audience development, marketing personalization and wealth insights? Share your contact information and we’ll be in touch soon.


Leo Scott is the Chief Technology Officer at WealthEngine.  As an accomplished business executive who founded a number of startup ventures and has worked with a variety of large public companies, Leo has spent the last 20 years building technologies that harness massive amounts of data and enable businesses and consumers to more easily interact with that data through Internet and mobile technologies.  Over the years, he has maintained a hands-on level of experience with the latest technologies, not only tracking the latest trends and tools, but working to develop a deeper working knowledge of new technologies allowing him to see technical approaches and opportunities in unique ways rarely seen by other individuals.

 

Mike Lees’ Week in Review: On LinkedIn about Data Being Everywhere and Datasexuals?

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Are you sick of hearing the words “Big Data” yet? While “Big Data” has quite a history, it’s relatively new to those on marketing teams. And while it might sound repetitive, there’s a reason it’s what CMOs are talking about. Big data is at the core of what we do here at WealthEngine. Last week, I tweeted my first published post on LinkedIn on why Big Data is more than just a buzzword. I hope you’ll read what I had to say and comment.

Also, another word I’m still on the fence about whether or not we’ll hear it a lot is the term datasexual. It’s a provocative term to say the least and I’m sure that Michael Kaushansky meant to be provocative when he wrote “Data Saves the CMO” for MediaPost recently. However, I think those of us that eat, breathe and live data in our daily lives as marketing practitioners probably don’t want to include that in our LinkedIn profiles or resumes. Or do we?

Have ideas for alternative terms to “datasexual” to describe those who use data to drive marketing business decisions? Tweet them to me at @MichaelJLees.

In case you missed it last week, we’re hosting our  #WECMO Series events in San Francisco next week and New York City the following week. Bryan Kramer, CEO at PureMatter and author of the book “Shareology”, and I will be talking about marketing personalization at scale in San Francisco on July 15. Those attending the event will receive a free copy of his book, being released on July 14! On July 21,  Bill Evans, Chief Digital Officer at WPP, will join me in a follow-up from our webinar last week and we’ll be talking about data, digital, wealth and predictive prospecting. If you are a marketing leader, make sure you RSVP to our NY WE CMO Series event and our SF WE CMO Series event as soon as possible as space is limited.

Would love if you would join the conversation

Michael Lees is Chief Marketing Officer at WealthEngine. His “Week in Review” is a weekly round-up of conversations, insights and inspiration he’s discovered around the web. Have something you want him to take a look at and weigh in on? Tweet him @michaeljlees and tag #WECMO.

Want a demo of WealthEngine to see how WE can help you with audience development, marketing personalization and wealth insights? Share your contact information and we’ll be in touch soon.