Business Intelligence vs Predictive Analytics vs Prescriptive Analytics

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You say you want a revolution
Well, you know
We all want to change the world.

Business Intelligence, Predictive Analytics, Prescriptive Analytics…

The Big Data revolution’s got all kinds of scientific terms buzzing around today’s boardrooms at warp speed, smashing into each other on the path to becoming enterprise-wide solutions to business success. But what do they really mean? And more specifically, what do they really mean to marketers?

Continue reading “Business Intelligence vs Predictive Analytics vs Prescriptive Analytics”

Know How Many Newlywed Millionaire Women You Can Reach in NYC and You Could Win an Amazon Echo at DreamForce

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Are you going to Dreamforce?

We’ll be there and we can’t wait to meet you, whether it’s connecting in the Exhibit Hall or when we demonstrate our wealth intelligence solution  in the Foundation Zone.

Whether you’re new to WealthEngine or you’ve been using our FindWealth platform for years, you probably haven’t fully experienced one of our newest members of the WE family – WE Prospect.

WE Prospect helps you find, understand and contact wealthy prospects and even find those elusive “millionaires next door” that list providers often miss.

Want to win an Amazon Echo?

You’ll have three opportunities to win as we count down to Dreamforce. Every week we’ll provide a very specific audience profile, inspired by our own customers. Your mission? Provide your best guess of how many prospects in our data base fit the specific profile. You can go with your gut instincts or you can use our data-driven marketing tool, WE Prospect to drill down.

To enter, submit your best guess for:

How many New York City Metro area women between the ages of 28-52 with household net worth over $1M are newlyweds?

Submitting your entry is easy. Just fill out this form with your answer and the person with the correct answer wins. If there is more than one correct answer, the person first person to submit wins. Winners will be notified via email before Dreamforce and can pick up their prize at our booth.
* Must enter by September 2nd

Not going to Dreamforce? Everyone who enters the contest is also entered to win a drawing for a $1,000 credit toward WE Prospect, whether they’ll be attending Dreamforce or not.

These 5 DC-Area Data Analytics Companies Are Killing It

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The Washington, D.C. area has quietly become home to a growing cluster of rising data analytics companies and startups. Over the past several years, the development of data analytics technology has become a trending topic nationally—with investors, entrepreneurs and a variety of companies from different industries looking for ways to make their businesses more efficient. And this tech deserves the attention it’s receiving.

How to Convert Refer-A-Friend Referrals into Customers More Effectively Using Wealth Intelligence

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You’ve got the social proof that referral marketing works. But how well is it working for you?

While an endorsement from a family member or friend holds stronger influence than most advertising and marketing channels, are you doing everything you can to optimize conversions after the initial referral takes place?

Immediate credit toward product and services can be enticing for some but if they’re still on the fence or not ready to buy, how are you engaging them in a way that will keep their attention and keep you top of mind?

Try segmenting based on wealth intelligence. If they’re not biting at your initial referral incentive, perhaps they haven’t found what they’re looking for.

Or, perhaps, your offer doesn’t align with their capacity to spend.

You could easily draw conclusions based on the buying behavior of the friend who referred them and personalize your messaging accordingly. But think about some of your friends. Do you spend money the same way they do? Probably not in every case, so it’s dangerous to assume the same about your customers.

When you integrate wealth intelligence into your overall B2C marketing strategy, you can tailor your content based on wealth and lifestyle factors and customize your calls to action and promotional offers based on wealth scores.

Do you use Salesforce or another CRM to manage your customers and prospects? We integrate easily. In fact, e-commerce companies can hook directly into our WealthEngine API to pass through wealth scores in real-time so you can take immediate action and capture the opportunity.

Friendships are based on trust and respect. A referral is a great first step.The best way to build trust and respect with those new to your company is by showing them you understand them through effective personalized marketing, not a one-size-fits all offer.

There’s a reason why we’re the “secret weapon” for some of the most coveted brands.

Ready for a short demo to show exactly how we can make this work for you? Share your details with us and we’ll be in touch soon.

WealthEngine and Tessitura Network Announce Enhanced Integration to Deliver Powerful Fundraising Solutions

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WealthEngine (WE), the leading provider of predictive marketing analytics and audience development services, is pleased to announce its enhanced integration with Tessitura Network. Built upon an existing relationship, WealthEngine and Tessitura collaborated to build a new integration to WealthEngine’s FindWealth8 platform, empowering arts, cultural and entertainment organizations around the globe to operate more efficiently by offering comprehensive donor and prospect insights and fundraising solutions specifically for their business needs.

“For more than 14 years, Tessitura has supported nonprofits to raise more money and integrate new fundraising and technology solutions into their organizational strategies,” stated Jack Rubin, president, Tessitura Network.  “We have always implemented a user-driven approach that is unique in the industry and ensures that we are in touch with the best possible product for our member organizations.  Being able to access WealthEngine’s powerful wealth intelligence directly through our database will provide a more comprehensive and actionable approach to drive donor acquisition and retention.”

The integration between Tessitura Network with WE’s world-class wealth intelligence platform brings Tessitura Network users direct access to more than 50 WE data elements and proprietary wealth scores and ratings – giving users what they need to raise their fundraising efforts to the next level.

WealthEngine and Tessitura Network will continue to embark on joint marketing activities, targeting mutual clients with a need to leverage powerful donor intelligence, database management, and marketing programs.

“WealthEngine’s proprietary wealth and P2G (Propensity to Give) scores are an critical complement to Tessitura Network’s platform as a way to fill a market need to integrate in-depth donor intelligence with wealth insight,” said JB Rauch, Vice President of Strategic Alliances & Channels at WealthEngine.  “Our insights empower nonprofits to access powerful insights and target, segment, and engage their best donors.”

For more information on WealthEngine’s wealth intelligence solutions, visit WealthEngine or contact JB Rauch, VP, Strategic Alliances and Channels at 240.786.3493 or email jrauch@wealthengine.com.  For more information about the Tessitura Network, please visit tessituranetwork.com, the Tessitura Innovator Series YouTube channel, or contact Marketing Communications Specialist, Lindsay Terchin at media@tessituranetwork.com.

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. Recently named a Cool Vendor in Data-Driven Marketing by Gartner, marketers and fundraisers use WealthEngine’s comprehensive insights to understand what drives consumer decisions and when best to engage them. Headquartered in Bethesda, MD, WealthEngine serves both the United States and the United Kingdom. For more information, please visit http://www.wealthengine.com

About Tessitura Network
Tessitura Network serves the arts, cultural and entertainment sectors by providing innovative solutions for CRM, ticketing and fundraising transactions, memberships, web/mobile transactions, business intelligence and more within a unified system. Organizations of all sizes are empowered to use Tessitura in a way that best suits their needs – either “out of the box” or as a platform for innovation. The services are either deployed via the Tessitura hosted cloud or in-house. The Global Network team is available 24/7 for unlimited support for users in Australia, Canada, Denmark, Ireland, New Zealand, Sweden, the United Kingdom and the United States.

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

How WealthEngine Helps Embry-Riddle Aeronautical University Increase Average Gift Size

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When Embry-Riddle Aeronautical University (ERAU) was vetting vendors to help them optimize their fundraising, they were looking for the best value, the highest quality data and an experienced team of subject matter experts. After comparing their options, they decided to move forward with WealthEngine.

With only 2% of their alumni making annual gifts, ERAU needed to understand why they weren’t getting more engagement. They knew that the majority of annual gifts were coming from a small group of people but they did not have many insights. WealthEngine was able to validate this and help ERAU model their best donors and segment their list of alumni.

As a result, ERAU was able to increase their average gift size by 100% and decrease the cost per dollar raised by 50%.

In order to accomplish this, ERAU worked with WealthEngine by starting with a wealth screening and then building on this with a SmartSegment overlay and Likelihood to Give Model. By working with a dedicated WE consultant, the Annual Giving team was able to take the insights provided and turn them into actionable tactics.  Additionally, Embry-Riddle procured access to the FindWealth 8 platform for their extended fundraising team, as well.

Want to find out how WealthEngine can transform your fundraising team’s results, too? Request a demo now.

WealthEngine Appoints Industry Veteran, Robert Hines, as Chief Revenue Officer

Salesforce Executive Joins Team to Drive Market Expansion and Sales Growth Momentum

WealthEngine (WE), the leading provider of predictive marketing analytics and audience development services, announces the addition of sales leadership veteran Rob Hines as Chief Revenue Officer.

Prior to joining WealthEngine, Hines was Regional Vice President for enterprise accounts at Salesforce.com.

Hines is considered a top sales leader with proven expertise driving record growth at successful technology companies such as Symantec, Network Associates, and Sun Microsystems. He brings WealthEngine an experienced background selling cloud-based business applications, enterprise security and data center solutions.

“We are delighted to have Rob join WealthEngine in this pivotal time for the company.  His role will serve as a catalyst to maintaining our leadership position in nonprofit and driving significant expansion in financial services and luxury,” said Mark Logan, chief executive officer and president of WealthEngine. “In addition, he will help drive our strategies in leveraging our channel partners.”

 As a Silver Salesforce ISV Partner, Salesforce will continue to be a critical focus for WealthEngine. With Rob’s experience, the company will continue to strengthen its alliances as well as build upon the relationship with its more than 25 existing and prospective technology partners.

“While WealthEngine continues to serve its more than 3,000 clients, Rob will be instrumental in executing our 3-year plan to exit with a $100M bookings run-rate,” noted Bobby Yazdani, WealthEngine co-chairman. “His focus will be to drive growth and leverage channel relationships while maintaining a world-class organization focused on customer success.”

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. Recently named a Cool Vendor in Data-Driven Marketing by Gartner, marketers and fundraisers use WealthEngine’s comprehensive insights to understand what drives consumer decisions and when best to engage them. Headquartered in Bethesda, MD, WealthEngine serves both the United States and the United Kingdom. For more information, please visit http://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

Predictions for Data-Driven Marketing in 2016

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We know that data-driven marketing is becoming more critical to marketers and fundraisers. One doesn’t need a crystal ball to know it will continue to influence what we build and execute in 2016. Let’s be clear, it’s not about more data, but data that can drive business decisions. Company leaders, especially within the C-suite, are considering how they will define their own vision of a data-driven company, the metrics required and how to adopt predictive prospecting as a strategy.

In a recent webinar, Cool Perspectives about Data-Driven Marketing, three of Gartner’s Cool Vendors in Data-Driven Marketing came together for a panel discussion. Here are some of their predictions of what’s to come in 2016.


“There are three big trends affecting data-driven marketing that will accelerate through 2016. Big data technologies combining open source and commercial advances are making new types of data available at scales and speeds marketers couldn’t imagine a few years ago. As a consequence, marketing itself is able to deliver more and more personalized insights and messages, rather than averaging experiences. And there is a third shift toward synchronous experiences, where what is happening now or in the very recent past can inform things like offers, messages, content, and analytics.”

Martin Kihn, Research Analyst, Co-author of Cool Vendors of Data-Driven Marketing
Gartner

“Taking a data-driven approach starting with pre-engagement will continue to be instrumental. For years, our non-profit customers have been using predictive analytics for fundraising to determine who to ask and what to ask and when to ask. While marketers have used analytics to determine buyer behavior, they’re now incorporating wealth intelligence to determine what offers and upgrades they can present in a very personalized way. The results are pretty outstanding. Marketers are seeing higher conversions and more loyal customers. While privacy around what personal data is collected and how it is used is still a valid concern for consumers, I think we’ll start to see a higher level of trust being earned by the companies who use their data to focus on how they can create an exceptional experience for the customer through smart segmentation and customized messaging.”

Mike Lees, Chief Marketing Officer
WealthEngine

“Google is the modern operating system for digital marketing.  Adobe, Oracle and Salesforce may get the press, but Google dominates in terms of marketer’s mindshare, marketshare, and ultimately execution.  Google Tag Manager, Google Analytics and Google Adwords have created digital marketing’s data layer and the standard analysis engine to understand, optimize and execute on digital marketing investments.  Next up for Google is to help marketers build a truly enterprise marketing data warehouse and analytics engine in the cloud.  

Google Cloud Platform & Google BigQuery deliver on this next piece of marketing infrastructure today, creating the first end-to-end data-centric marketing cloud. It’s clear now that CMOs will own the tech marketing stack and Google will be their go-to provider. Other marketing tech vendors will need to be interoperable with the Google Cloud and deliver their own unique value in this ecosystem.  Only a data-centric company like Google can deliver this new kind of marketing cloud.”

James McDermott, Chief Executive Officer
Lytics

“Few CMOs will argue that they don’t own their brand anymore. We have lots of user data thanks to social media, but social media is changing consumer purchasing behavior far faster than companies are translating social data into useful insights. Businesses must begin to iteratively add data tools if they are to overcome this challenge.

Office cultures don’t change overnight. Many companies fear that data will require a top-to-bottom cultural overhaul, which causes them to hesitate instead of adding new data tools. Fear barriers only begin to lower when people begin to iteratively embrace a new concept. With these iterations, change starts to take hold, and companies begin to find the equilibrium between what’s always worked and what’s necessary to remain competitive as the uncertain future unfolds.

In 2016, I believe the fear barrier around data-driven marketing will finally begin to lower as people recognize that they don’t need to eliminate the old ways of doing things, and instead need merely to augment their existing toolbox with new capabilities. On-demand data-driven marketing tools will give CMOs new options as to what they discard, what they keep, and most importantly how they can better use the tools and processes that their company cultures can handle.”

Malcolm De Leo, Chief Evangelist
Quantifind


Interested in learning more about how data can be the critical element that drives your company’s success? Request a demo now.

Are You Advertising to Qualified Leads?

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In advertising relevance is paramount but what is relevant for one person is not for another. There are ads everywhere embedded into your daily routine, they have become synonymous with modern living. The bus stop you pass by, the gossip blog you check every morning, the window display in front of CVS, are all forms of advertising. Even the shampoo bottle you stare at bleary-eyed every morning is an ad. Ever wonder why they put the name and logo of the product front and center? Most of these ads are not relevant to you personally but every once in a while something about an ad catches your attention and holds you captive for a moment. It speaks to you.

You really need this, it would improve your life.

Continue reading “Are You Advertising to Qualified Leads?”