Top 5 Annual Giving Campaign Ideas

annual giving campaign ideas

Annual Giving Campaign Ideas to Boost Your Fundraising

Once your annual giving campaign starts, you’ll be actively monitoring your success. So, to keep your momentum going and to ensure that your donors remain engaged, it’s important to implement different strategies to help you reach your campaign goals. Let’s explore the top 5 annual giving campaign ideas you can implement to make your campaign a success.

1. Start with your Board of Directors to Gain Key Supporters

Once you form your steering committee, it’s important to reach out to those board members (who are helping oversee your campaign) to contribute donations. Since they’re working to ensure that your campaign is a success, by providing your organization with strategic direction and support, it’s necessary to involve them in creating a stable foundation for your annual fund. Other donors will then feel more inclined to give knowing that you’ve already received donations.

It’s also important to tap into your board of directors’ networks, to see which of their constituents would be most inclined to give. These individuals won’t simply contribute a small, one-off gift. Depending on how closely connected they are to a member of your board, they may feel inclined to give a more substantial gift to support your organization’s efforts. If someone they know is actively working to raise money for a cause they care about, how can they turn away?

The Connections feature on the WealthSignal within the WealthEngine platform can help you uncover potential major gift donors who are connected to your existing board members. Connection strength displays the number of familial and business connections an individual has. So, the more connections you have, the easier it is for you to potentially get introduced to other wealthy prospects.

2. Screen and Segment Your Supporter Lists

Another annual giving campaign idea is to screen and segment your supporter lists. Both processes will help you make more effective annual fund appeals. When approaching your donors for your annual fund campaign, there’s no need to ask for a universal gift amount. If a donor has the propensity and capacity to give more, it’s important to create the right ask for those donors. Let’s say there’s a potential major gift donor in your database, but instead of reaching out to them for a major gift, you ask them for a donation of only $50—an ask amount that you’ve been sending to donors of all levels. By not screening and segmenting your donors beforehand, you may miss out on an opportunity to boost your fundraising efforts with just one substantial gift.

How Screening can Help You Reframe Gift Asks

With a wealth screening, you can see which donors have the greatest propensity and capacity to give. So, not only can you segment your audience based on demographic traits such as age, but you can also append your database with wealth attributes. By doing this, you can easily understand an individual’s how much they’ve donated in the past (giving history) and how much they’re likely to give in the future (estimated giving capacity). Gathering these data points gives you a holistic view of your donors. You can easily use their demographic data and wealth attributes to take a data-driven approach to your outreach strategy. This makes it far easier for you to identify donors who would be just as likely as your donors to give.

By reframing gift asks using wealth screenings, you are articulating to your donors and prospects that you understand their needs, interests, and value their support. Also, by understanding your existing donors’ giving history, you can upgrade donors to give more if they have underperformed previously. Additionally, your annual fund campaign is a testing ground for future annual fund efforts.

3. Model Your Top Existing Donors to Find New Prospects

Another key annual giving campaign idea to implement is to model your top existing donors. Let’s say you’ve reached every donor, of every level, in your database. Out of the donors you’ve reached, you’ve managed to solicit gifts from all of those who had the highest likelihood and inclination to give. But, let’s say, in doing this, you’ve exhausted your efforts. What’s next? How do you identify and engage prospects who would be just as likely to give as your best donors? That’s where wealth models can help.

A model is a unique, custom algorithm used to help you do two things:

1. Describe your existing donor base

We can take the data you already have and show you the unique characteristics of individuals in your database. These types of models are known as descriptive models. Essentially, we can help identify and illuminate the commonalities your donors share. That ‘it’ factor that separates them from the average giver. So, we can help you identify hidden gems in your database, who you have yet to pursue. Or, we can help you find under-performers who have the propensity and capacity to contribute more.

2. Predict who else would be most likely to give

We can help you predict who’s most likely to contribute an annual gift to your organization specifically. This type of model is known as a predictive model. In this case, you’d use an Annual Giving Model. To create this custom algorithm, WealthEngine data scientists will employ proprietary data along with yours to determine who within your database (and beyond) are likely to contribute gifts to your annual fund. This model can also help you identify prospects with similar attributes to your best donors. You can then rank your list of prospects in order of similarity to your best donors to prioritize your donor outreach.

4. Find Creative Ways for Your Supporters to Give

Since your annual fund raises money on an ongoing basis throughout the year, it’s necessary to find new ways to keep existing donors engaged. A common challenge most organizations face is finding creative and innovative ways to bring supporters back. Although you’ll receive one-time donations, the goal is to encourage your supporters to make multiple donations during your campaign. Without their recurring contributions, your campaign won’t be as successful as it can be.

To re-energize your donors to give a second or third time, it would be beneficial to:

1. Start a Corporate Matching Gift Drive

By encouraging gift matching, donors have the opportunity to make donations and have their company either donate the same amount they have or more. Doing this allows donors to double their contributions, so you receive double the funds. Be sure to encourage your donors to see if their workplace will match the donations they make to your organization.

2. Promote Your Recurring Gift Program

As your donors contribute gifts, it’s important to create opportunities to redirect your donors to your recurring gifts program. This encourages them to give continuously throughout the year and in years to come.

3. Set up a Crowdfunding Page

Another annual giving campaign idea is to set up a crowdfunding page. Although crowdfunding pages have previously been used to support individual endeavors, they’re being used more and more for organizational fundraising. Just be sure to outline what you’re fundraising for, why you’re fundraising for it, and how this supports your organization. Once you set up the page, it can be easily shared over social media. So, given the viral nature of these pages, your donors can share it with their peers. They can then encourage people in their network to give. Not only is this a great opportunity to solicit gifts, but it also allows you to strengthen your presence on platforms individuals frequently visit.

Once your supporters make secondary contributions, they’re far more likely to contribute to future campaigns. To find more creative ways to engage your donors, check out our article on the 14 nonprofit fundraising ideas for the changing advancement landscape.

5. Humanize Your Goal with an Impactful Story

As you leverage wealth insights and find new fundraising tactics to reinvigorate your donors, it is important to actively forge deep connections with your donors. One way to do this is by sharing success stories with your donors. Remember: your annual fund is intended to help your organization realize its mission in actionable ways. So, it’s incredibly important to engage in nonprofit storytelling that will galvanize your donors.

You don’t simply want to tell your donor about your goals and intentions, but you also want to share success stories with them. If and when you reached your annual fund goal in the past, how were you able to help your community? How have their lives been positively impacted since then?

By creating and sharing impactful stories with your donors, they’re able to view your goal through a different lens. In that sense, empathy is the greatest impetus for individuals to support a cause. Now, your organization’s goal is not a random monetary mark. There’s greater recognition that these funds raised are supporting your mission, which supports your initiatives, which helps you support others. And that change starts with gifts contributed by your donors. They are at the core of everything you do. Once they’re reminded of that, they’ll feel inspired to give.

Discover Your Next Best Annual Fund Donor

Test drive WealthEngine to find your next best donor! Discover their Propensity to Give (P2G), Giving History, Connections, and more.

A nonprofit’s annual giving campaign is critical to the organization’s success. Implementing these key annual giving campaign ideas will help you engage your donors effectively, now and in the future, so that you have the funds needed to make a difference.

Other Articles in Our Annual Giving Series

This is the third article in our Annual Giving series. You can read more about Annual Giving best practices in our first article on What is an Annual Gift? and our second article on the 8 Phases of a Successful Annual Giving Campaign.

Giving Tuesday vs Giving Day: Which Fundraising Day Best Suits Your Needs?

giving tuesday vs giving day

Your organization would like to participate in a major event fundraiser. The question is: should you take part in Giving Tuesday? Or would it be better for your group to plan a separate Giving Day? Let’s explore the factors you should consider when deciding between Giving Tuesday vs Giving Day.

Giving Tuesday vs Giving Day: Fundraising Factors to Consider

Both Giving Tuesday and designated nonprofit Giving Days hold similarities and differences. To start, both Giving Tuesday and Giving Day are both limited time fundraisers that take place online. The primary goal for both is to collect as many donations as possible within that short period of time. Yet they are as much about raising awareness of good causes as about raising funds. These giving events promote collaboration, encouraging people to come together to benefit the community.

Giving Tuesday vs Giving Day: Which Giving Day Should You Plan For?

A Giving Day can be held on any day of the year. Giving Tuesday (or #GivingTuesday) is a Giving Day, it’s just held on a specific date. Giving Tuesday takes place on the Tuesday after the U.S. Thanksgiving holiday. It was launched in 2012 in partnership between New York’s 92nd Street Y and the United Nations Foundation.

Giving Tuesday is intended to kick off the season of year-end giving. People tend to be feeling grateful after Thanksgiving. Giving Tuesday offers them an opportunity to consider how they can “give back.”

At its core, Giving Tuesday has been described as a “global generosity movement.” Yes, it’s a charitable fundraiser. But it’s also about giving time as a volunteer or sharing talent. It’s about being an advocate or activist. It’s about showing kindness, such as giving a smile or a hug. And it’s also about donating goods in addition to money. The point is that everyone has something to give.

From a fundraising standpoint, the initiative behind Giving Tuesday is to get people excited about giving. The same way they may get excited about holiday bargains. Any Giving Day is best organized and promoted in a way that fosters a similar sentiment as Giving Tuesday. To be most effective, the event should create a sense of community and enthusiasm around a common cause.

The Success and Growth of Both Giving Days

More than 1,400 charities took part in Giving Tuesday in 2012. Since then, Giving Tuesday has become an annual holiday tradition. Over 200 Giving Tuesday movements take place in the United States. And there are Giving Tuesday campaigns in 60 countries. In July 2019, Giving Tuesday even established its own organization.

Giving Tuesday has grown to inspire hundreds of millions of people worldwide to give to good causes. Giving Tuesday efforts have raised more than $511 million online in the United States alone. Nonprofits taking part in Giving Tuesday may even receive matching funds for a portion of their donations. This alone can incentivize donors to contribute.

Giving Days other than Giving Tuesday have also increased in popularity. Hundreds take place in the United States, often in a specific geographic area, such as a state or region. These events typically benefit the member nonprofits of community and civic foundations. And some Giving Day fundraisers are extended to a week or longer so supporters have more time to contribute.

Giving Day in Austin, Texas, for example, raised over $11 million in 2019. A South Central Texas Giving Day pulled in over $4.7 million for 545 participating nonprofits. Several major universities teamed up for a Giving Day last spring and raised over $60 million. Give to Lincoln Day, a Giving Day in Lincoln, Nebraska, broke all records in 2018. The fundraising event brought in more than $4.5 million. New York City’s #NYGivesDay raised $15.7 million in 2017.

The Red Cross holds its own Giving Day in March, as part of Red Cross Month. March 25, 2020 is this year’s official Red Cross Giving Day. However, donations accepted throughout the month will count toward the March 25 goal. Besides raising funds, the Red Cross works to increase awareness of its needs.

Excellent Fundraising Opportunities

Should your organization plan for Giving Tuesday, or a different Giving Day? Any group desiring to raise funds and awareness should consider at least one of these events. Either giving event can benefit a nonprofit organization in a number of ways.

Giving Tuesday is a specific day for contributions. For most organizations, there is room for another special Giving Day. Partnering with foundations especially can be a smart way to bring in dollars with the help of others. Your common mission is to get people to think about charitable giving in a different way. Everyone then benefits.

  • Participating in Giving Tuesday and/or Giving Day can increase the visibility of your organization. Having a foundation promote the event will help spread your message far and wide.
  • Giving Tuesday or a Giving Day provides an excellent way to reengage with your current donors. This is an opportunity to get your donors excited about your fundraising efforts.
  • Equally important, a major fundraising event will put your cause in front of new potential donors. And you’re very likely to add some new (and potentially regular) supporters to your Giving Tuesday list.
  • Your group can use the data collected from a Giving Day event to learn more about your best donors. You’re also bound to learn new fundraising kills you can implement during future events.

Don’t look at Giving Tuesday or any other Giving Day as a single event. Think of them as part of a year-long integrated fundraising plan.

Leveraging Wealth Screening to Find Your Best Giving Day Donors

So, whether you choose to participate in Giving Tuesday, a separate Giving Day, or both, a wealth screening can help you identify potential major gift donors. So, what is a wealth screening exactly? A wealth screening is the process of applying wealth insights to a list of contacts to better understand their propensity and capacity to give. In that sense, wealth screening can help you identify your best prospects and donors with accuracy and precision. So, screenings help you find, segment, and prioritize your prospects so you can focus on the right ones.

To do a screening, all you have to do is upload your list of contacts and select the attributes you want to apply to them. We will then screen your contacts accordingly and provide you with new information on those individuals.

When you append your database with wealth attributes, you’ll know who within your list you should reach out to. These insights will also give you an impression of their interests. This will help you create hyper-personalized messages that speak to your donor’s needs and inspire them to give, now and in the future. If anything, screenings give you a good impression of who you should cultivate and nurture relationships with. Especially if they’ve donated to you in the past, but have the ability and the inclination to give even more. This is an opportunity for you to pursue those donors further, and possibly triple or quadruple the value of gifts you receive from them.

The Best Way to Boost Your Giving Day Efforts?

Test drive WealthEngine to find your next best Giving Day prospect! Discover their Propensity to Give (P2G), Estimated Giving Capacity, Connections, and more.

Our Giving Day Series

This is the second blog in our Giving Day series. Read our first blog on the ins and outs of nonprofit giving days and stay tuned for our next blog that discusses how to leverage Giving Days as part of your nonprofit fundraising strategy!

Redefining “Luxury Brand” for Luxury Brand Marketing

luxury brand marketing

Why do consumers consider one brand to be a “luxury” brand and another brand not? Exclusivity? Performance? Quality? Innovation? Heritage? For the most part, those all have been defining characteristics of a luxury brand, and they still are. However, there’s been a shakeup underway. The traits that carry the most weight with consumers in today’s luxury market have changed. Let’s explore the ways different brands are redefining what it means to be a “luxury brand” when it comes to luxury brand marketing.

“The definition of ‘luxury’ is undergoing a paradigm shift in the consumer market,” said marketing expert Pamela Danziger. Unity Marketing and Luxury Daily recently surveyed over 600 luxury retailers and marketers. They found that the definition of luxury is the “number one disrupter of the luxury business.”

What does this mean for how businesses approach luxury brand marketing? If you know how consumers think of luxury, and what drives their purchases, it can help you determine the best strategy to attract wealthy clients. You can also reduce the cost of acquisition.

The Prioritization of Quality for Brands

Ask any Apple buyer how well they like their Mac or iPhone. They’ll undoubtedly tell you they believe Apple products are far superior to any competitor. It doesn’t even matter if competitive products offer better features. Apple may got its start by launching a unique computer product to compete against Microsoft. But Apple’s following has grown far beyond disgruntled PC users. There may be a certain “status” to owning an Apple product. However, the company built its brand on a reputation of quality and performance.

Now consumers are defining luxury differently. Just a few years ago, quality took over as the leading characteristic of luxury. Data from a recent major report confirms that quality, not exclusivity, is now the key definer of luxury for consumers globally. According to Albatross Global Solutions and Numberly’s fourth annual “The Journey of a Luxury Consumer” report, 85% of luxury consumers say quality is the most important characteristic.

“What separates true luxury from the idea of luxury is quality,” says Javier Calvar, chief operating officer at market research firm Albatross Global Solutions.

Younger Consumers Are Playing a Bigger Role in the Luxury Market

A change in the demographics of today’s luxury consumer is behind the shift in what defines luxury. Traditionally, the luxury market has been made up of older consumers, many with inherited wealth. Baby boomers and those older still make up 60% of the total global luxury market. But the other 40% is made up of Generation X and millennials. So younger consumers are representing an increasingly significant portion of the luxury business.

Younger people, with newfound wealth, are not only moving into the luxury market, they’re redefining it.

“When money goes into the hands of people that didn’t have much of it before, the relationship those individuals have with luxury brands is very different from those who have been exposed to luxury brands for a long time,” said Calvar. “A really large percentage of our top-end product customers are between the age of 30 and 50. It’s no longer a retirement plan to buy yourself a yacht to enjoy in your golden years. ”

Millennials in particular are a luxury marketing segment growing in importance and wealth. They see exclusivity as less important. Instead, they prefer to “belong,” and have little interest in something that separates them from their peers.

Connecting with the New Luxury Brand Consumer

How can you connect with this new luxury market customer? Identify the specifics of your target customer’s profile. Once you know about their likes, dislikes, and best methods of contact, you can build a more effective luxury marketing strategy.

So it’s more than demographic data, it’s about understanding your customer’s mindset, whether your luxury customer is 35 or 65. Appealing to a baby boomer is different than connecting with a millennial, though both may have interest in the same product. Knowing the buying motivations of each allows you to tailor your message to that niche segment.

“Quality always will be essential to luxury, said Lyle Maltz, a director with Kantar Vermeer, WPP’s global marketing consultancy. “But now emotional value and a strong, personalized relationship with consumers are of great importance in luxury marketing.”

Today’s luxury marketing is “highly personalized marketing. It has a very specific and defined message that resonates with an individual’s affinities, interest, and wealth capacity,” agrees WealthEngine’s Patrick Bischoff, president of the Commercial Markets Group at WealthEngine. You need to build that one-on-one relationship with your customer to make them feel they are being treated as an individual.

Uncover the Best Ways to Appeal to Millennial Millionaires

Looking to target high net worth customers for your brand? Download A Look at Millennial Wealth to discover the best ways to engage wealthy millennials.

Following a Customer-Driven Approach to Luxury Brand Marketing

The new luxury market consumer will define what makes a brand a luxury brand, not the other way around. Today it’s less about marketers and more about consumers. That can make it more challenging for luxury marketing strategy, as the definition of “luxury brand” continues to shift. Still, to truly prosper in the luxury arena, luxury marketers will need to follow the lead of their target luxury consumer.

“The change in how consumers define luxury and the new path to purchase is dramatically redefining the marketing strategy,” said an unnamed marketing industry insider in a Forbes article. “Luxury brands must be very agile and innovative in order to gain the favors of the new luxury consumer.”

Giorgio Armani is a brand known globally for its high-end designer men’s clothing. It began by targeting the ultra high-end professionals who desired a high quality product. Since then, Armani has gradually expanded its brand scope with products aimed at broader customer segments. Armani launched a line of jeans in the U.S. market for fashion seeking, price-sensitive youths in urban metro areas. This is an example of a luxury brand creating sub-brands to capitalize on and cater to a different customer segment.

Leveraging Wealth Insights to Appeal to Luxury Brand Consumers

Since the traditional luxury model has been challenged due to the rise of digital platforms, social mobility, the emergence of ‘affordable luxury,’ and other preferences of millennial shoppers, it is necessary to leverage new methods of appealing to today’s luxury consumers. Here are a couple ways you can leverage wealth insights to boost your luxury brand marketing strategy:

1. Use a Wealth Screening to Inform Your Outreach Strategy

With more younger luxury buyers who grew up in a digital world, you must also change your approach to luxury brand marketing. Part of building a luxury brand involves communicating with customers in the way they prefer. So it’s important to have a keen understanding of their interests and appeal to those preferences by creating forms of tailored outreach. Years ago, that may have been print ads or direct mail. Today it’s more likely to include social media, apps, and other digital means that provide a “total customer experience.” The question is: how do you go about hyper-personalizing outreach today?

Using a wealth screening, you can apply wealth insights to a list of contacts to better understand their propensity and capacity to spend. Wealth screenings, in that sense, can help you identify your best prospects with accuracy and precision. All you have to do is upload a list of contacts or consumers, and select the attributes you want to apply to them. Then, you’ll get a fresh set of information on those clients in relation to those attributes. So, when you append your database with wealth attributes, you’ll know who within your list you should reach out to. Additionally, the insights you gain will help you create hyper-personalized messages that speak to your donor’s needs and inspire them to make purchases, now and in the future.

2. Generate Wealth Models to Find New Consumers

Apart from finding the best ways to market to your existing luxury buyers, it’s also important to find more consumers who are just as likely to spend as your best. But, as the paradigm continues to shift, and as we continue to reconfigure our impression of luxury, how do you predict who will spend on your products?

Descriptive Models

Using a wealth model, you can predict which luxury consumers are most likely to spend on your products. Using a Look-Alike model, you can uncover the unique qualities of your best customers. This will help answer questions like: What do my best customers spend on? How old are they? What are their interests? If anything, a descriptive model such as the Look-Alike model, will help you develop a customer persona. You’ll gain clarity on their interests and demographics. These insights will help adapt to their behaviors more seamlessly.

Predictive Models

But, let’s take this a step further. Let’s say you want to find more customers just like them. Specifically, customers who are just as likely as your existing, loyal customers to buy products from your brand. By generating a predictive model, our data scientists employ WealthEngine data along with yours to create a custom algorithm. Using this, we can predict who’s most likely to purchase items from you. Harnessing the power of wealth models allow you to see how likely your prospective customers are to make a purchase. It helps you target the right customers and focus on appealing to them so they will make recurring purchases. Not only will this inform how your brand should appeal to them now, but it will also help you determine what your customers will want from you in the future.

8 Reasons to Hold A Nonprofit Giving Day

nonprofit giving day

A nonprofit giving day is intended to help different organizations and higher education institutions bring awareness to their efforts and help them raise as many donations as they can within a short, defined period of time. Let’s explore the importance of giving day, how you can launch one for your organization, and how you can leverage wealth insights to boost your fundraising.

What Is a Giving Day?

So, what is a nonprofit giving day? A Giving Day is a 24-hour, online fundraising event. The purpose of holding one is twofold. The first reason to hold a Giving Day is to collect as many gifts as possible within a limited time period. Additionally, nonprofit Giving Days are held to increase awareness for your charity, foundation, or university. They are a great way to draw attention to your organization and incorporate your organization into the greater community.

Giving Days are initiated primarily by community foundations, cause-based nonprofits, and higher education institutions. They typically center on a specific geographic area, such as a city, state, or region. But, they can also be national or even international in scope. Technically, anyone, anywhere, can donate to your cause.

Examples of community foundations hosting a nonprofit Giving Day for charities in their regions are GiveMN and Arizona Gives Day. Another well-known global Day is Giving Tuesday. Created in 2012, Giving Tuesday is held every year on the Tuesday following Black Friday and Cyber Monday. It was designed to kick-off charitable “giving” during a season when people are already in a giving mood. What better way to encourage donations from those who are eager to contribute?

The Success of Nonprofit Giving Days

Holding a nonprofit Giving Day has increased in popularity. There are now hundreds of Giving Days happening across the United States and several on a global level. In fact, Giving Days are becoming a standard part of fundraising.

As their popularity increases, the question is: are Giving Days worth all of the work involved? Consider some of the proceeds from these 2019 Giving Days:

  • Horizons Giving Day 2019 raised over $1.6 million for its 41 affiliates.
  • The Big Give, a Giving Day supporting nonprofits throughout South Central Texas, brought in over $4.7 million for 545 participating nonprofits.
  • Contributions reached over $11 million for A Giving Day for Amplify Austin, which supports Austin, Texas nonprofits.

With proper planning, promotion, and organized effort, nonprofits definitely have an opportunity to see rewards from the Giving Days they hold. Setting a limited time for these special donations creates a sense of urgency to raise funds. Of course those who are most interested in your cause will be more likely to give their support. And this is also a chance to gain new supporters because of the nonprofit’s increased visibility.

Reasons to Hold a Nonprofit Giving Day

A concentrated fundraising effort within such a limited period can go a long way toward getting people excited about your work. In the short-term, Giving Day helps connect supporters to the causes they care about. Long-term, you can continue to engage with donors in various ways to maintain and grow their contributions.

Here’s how your organization can benefit from a Giving Day:

1. Raise funds for your organization.

A primary reason for a Giving Day is to bring in the dollars necessary to continue your work.

2. Increase visibility and community awareness of your group.

The exposure gained through a Giving Day can boost your nonprofit’s standing in the community.

3. Re-engage with past volunteers and donors.

Chances are, those who contributed in the past will support you again.

4. Add new donors to your list.

This is the time to pick up those who have an interest in what you’re doing but have not yet contributed.

5. Enhance your donor data.

Giving Day will allow you to collect more information on the donors who are involved with your organization to aid future prospecting.

6. Strengthen the sense of community pride.

People like to be part of events that help others and creates a positive vibe.

7. Benefit from the work of others.

If your Giving Day is part of a multigroup effort, you can share the workload and make new connections.

8. Learn more about fundraising.

Your staff will learn new skills as part of creating a Giving Day fundraising event.

Participating in a Giving Day not only benefits the organization, but its supporters and surrounding communities as well. Many people like to give back when they are able to. And they like knowing that their contributions made a difference.

Launch a Giving Day for Your Organization

Giving Days take plenty of planning, enthusiasm, and follow up with both donors and prospects. A Giving Day is designed to run on the target day for 24 hours. But smaller nonprofits sometimes extend fundraising to a week or longer to allow supporters more time to contribute.

Additionally, a nonprofit can partner with community and civic foundations for a joint Giving Day event, That can be an effective way for the organizations to assist member nonprofits with the work involved. As it’s been said, many hands make light work.

Also, nonprofit Giving Days provide an excellent opportunity for a nonprofit to hone its marketing skills. It’s only by trying out different strategies will you know which ones produce the best results. And you’ll have new tactics you can use in other fundraising campaigns.

While raising funds in just 24 hours takes work, it is a worthwhile endeavor for a nonprofit. Raising funds is important, but so is gaining visibility and building your donor base for the future. That’s how you’ll be able to bring in even more contributions.

How WealthEngine Can Help You Find Giving Day Donors

So, as you begin searching for Giving Day donors, it’s important to identify which donors (of the ones you are already looking at) may be likely to give in the future. Using our platform, you have access to 250 million profiles in our database. Each of which contain insights on an individual’s wealth, Net Worth, Income, Propensity to Give, and more. With insights on an individual’s giving behaviors and history, you can easily focus your efforts and pinpoint which donors you’ll want to deepen your engagement with.

Additionally, using WealthEngine’s new WealthSignal™,  featured in the upper right-hand corner of each individual profile, you can make quick appraisals about the individuals you look up within our database. With this indicator, you receive pertinent information on your existing and prospective donors. For example, WealthSignal™ can help you pick up on a donor’s Estimated Giving Capacity—how much an individual could give in the next five years. So, this section is especially helpful for prospect researchers as they determine how much an individual may give in the future.

Additionally, by conducting a wealth screening, you can upload a list of your contacts, apply wealth insights to that list, and uncover new information on your donors’ propensity and capacity to give. So, with these insights, you have the opportunity to identify existing donors who can give even more than you thought possible.

Uncover Your Next Best Giving Day Donor Using Wealth Insights

Test drive WealthEngine to find your next best prospect for your day of giving! Discover their Propensity to Give (P2G), Estimated Giving Capacity, Net Worth, and more.

This is the first blog in our Giving Day series. Check out our second post that explores Giving Day vs Giving Tuesday, and how to determine which day best suits your needs!

Looking for Love: Wealth Insights on US Singles

WealthEngine Valentine's Day 2020

They may be single, but they’re not alone! Check out our breakdown of the United States’ most eligible bachelors and bachelorettes, across generations. Learn more about their interests, where they live, what they drive, and much more. Using our wealth and lifestyle insights, you can search, screen, model, analyze, and segment to identify and engage with the best donors, customers, and prospects across the nation.

3 Ways to Leverage WealthEngine to Recruit Diverse Board Members

recruit diverse board members

 The diversification of boards is not just a benefit. It’s a necessity. Goldman Sachs recently announced that they won’t take companies public if they don’t have at least one diverse board member, specifically one female board member. Similarly, California amended the Gender Corporation Law in 2019, stating that all publicly traded companies must have at least one female director on their boards by 2020. Additionally, companies with at least one diverse member saw a 44% jump in their average share price. As opposed to those that didn’t, which only increased by 13%. These changes illustrate a much greater need than meeting diversity quotas. Boards are now moving to recruit diverse board members in order to maximize their effectiveness by creating space for different perspectives. 

As boards begin prioritizing diversification, it’s important to be mindful in your search as you sift through potential new members. Not only do you want to make sure that you’re looking at a more assorted pool of candidates, but you also want to make sure that you’re engaging individuals who are well connected, influential, and will provide a unique skill set that will benefit your board. Let’s explore how our platform can help you recruit diverse board members

Things to Consider As You Recruit Diverse Board Members

Even before you begin using tools in WealthEngine to search for new board members, it’s necessary to adopt a new approach to your search. The steps you took to bring together the existing members of your board may not serve you as well now that you’re looking for new individuals with different skill sets. Taking a page from McKinsey, there are 3 best practices you should implement in your diversification process: 

1. Adopt a New Mindset

Make your commitment to gender diversity known and back up that value with sustained action throughout your organization. When creating significant change, outlining your purpose, intention, and goals will help underpin decision making. To do this, you can set new principles in your decision-making process. For example, establish a target number of board positions that should be filled by women and make sure the list of prospective members you’re compiling is diverse. 

2. Expand Your Criteria

Not all ideal board candidates may have prior board experience. That being said, it’s important to look beyond current CEOs or members of C-Suites. Be open to creative solutions and focus more on people who will help you meet your goals. To do this, define what expertise you require from potential board members and then define what is flexible, so as to deliver on gender diversity goals. 

3. Create and Maintain an Active Pipeline

The last thing to consider as you recruit diverse board members is to create and cultivate an active pipeline of candidates. Once you actively create a pipeline of potential female candidates, you can begin cultivating and nurturing long-term relationships with your prospects. This will serve you well in your board-inclusion efforts now and in the future. 

These considerations, in combination with wealth insights, will help you establish a more inclusive and diverse board. 

Before You Begin Your Search

Before you begin looking for prospective board members, it’s necessary to understand what you look for in one. So, as you develop your board member persona and evaluate prospects, ask yourself: is this individual well connected? Do their interests and actions align with our work? Are they a major gift donor? Are they an active participant in our organization or business already? Do they have experience on other boards? If so, which other boards do they serve on? 

Using WE Analyze, you can examine screening data on your existing board members and gain a holistic view of them. This gives you a clearer picture of commonalities, or unique qualities, among them. This will help you more easily visualize your board members, learn more about them, and create a board member persona. Using this information will make it easier to evaluate who would be a good fit for your board. So, this will help greatly during your selection process.   

How WealthEngine Can Help You Recruit Diverse Board Members

1. Use Search and WealthSignal to gain a Holistic View of Board Members

Using Search, you have access to 250 million profiles, with insights on an individual’s wealth, Net Worth, Income, Estimated Giving Capacity, Propensity to Give, and more. So, when looking up the name or profile of an individual you feel may be a fitting candidate for your board, you can gain information on how connected they are, what their propensity and capacity to give is like, as well as demographic information. By understanding their behaviors and interests, you can gain a clearer impression about what (demographically and in terms of their skills), they’ll be able to provide to your board that is unique. 

This is further supported by WealthEngine’s new WealthSignal™. The WealthSignal™,  featured in the upper right-hand corner of each individual profile, will help you make quick appraisals about the individuals you look up within our database. Like search, you receive all the same pertinent information on your candidate (Propensity to Give (P2G), Net Worth, Income, etc.), but it’s all displayed in a visual, similar to a bar-signal. So, you can easily skim through a candidate’s qualities, and make informed decisions quickly about whether or not you’d like to pursue them further, without having to scroll through their info. This cuts out time and energy as you determine who you’d like to engage. 

2. Use Inner Circle to Find Connections of Your Close Contacts

The Inner Circle feature within WealthEngine allows you to discover the close connections or relationships of your existing board members. When looking for potential board members, it’s helpful to find individuals who have some affiliation with your organization or business. Someone who harbors a similar value system and influence as your existing members. And, what better way to find these individuals than through your existing board members’ network? 

All you have to do is upload a list of your Inner Circle members into WealthEngine. The question is: who do you include in that list? Your Inner Circle list can include board members, trustees, long-term advocates—anyone you have a close, personal connection with who has influence. If they’re important to your organization, be sure to include them in your list. Once you label or mark individuals as Inner Circle members using our Inner Circle badge, we’ll store those profiles in your account in a list.

So, the next time you Search or Screen, the system will automatically compare individuals to those marked as members in your Inner Circle list. This will help you determine which people are Inner Circle Connected or people who know those members. Those profiles will then be flagged with Inner Circle Connected badges. These markers will help you navigate profiles with ease as you determine which individuals have networks that could benefit your board. Either through business relationships, nonprofit board members, or personal connections.  

Now, you’re able to reach out to these candidates in an effective way: through a personal connection. These warm connections provide you with an amiable introduction when you’re engaging potential members. These individuals may feel inclined to join your board because you have a mutual connection. So, Inner Circle, and their connections, allows you to find exemplary candidates in no time. 

3. Use Prospect to Recruit Diverse Board Members

Using Prospect (specifically Prospect’s Audience Builder) in WealthEngine, you can generate lists of new individuals (outside of your database) from distinct demographics and hundreds of different attributes. So, if you’re looking for new prospective board members, outside of your known connections, you can plug in qualities into Prospect to view a list of individuals who fall within the parameters you’ve set that resemble your existing board members— or what you’re looking for in new ones. 

Under the ‘Professional’ section of the  ‘Attribute List’ in Prospect, you can flag pertinent criteria for your prospective board members. For example, you could flag attributes such as ‘business owner’, ‘executive’, ‘on board of directors’, and more. You can also flag interests or charitable causes you’d want your candidate to be affiliated with under the Giving Section. Most importantly, under the Demographics section, you can factor in the gender or ethnicity of your ideal candidates. The key here is to find those unique qualities. By narrowing your search, you are identifying individuals who you’d most want to be represented on your board. So, the individuals you identify won’t be far removed from your missions or values as a business or organization. 

Uncover Your Next Best Board Member Using Wealth Insights

Test drive WealthEngine to find your next best board member! Discover their Propensity to Give (P2G), Estimated Net Worth, Connections, and more.

By honing in on the qualities of your ideal candidates, not only will you be able to welcome new board members who were previously underrepresented, but you will also be able to diversify the interests and skill sets brought to the table. With insights like these, you’ll be able to propel the efforts of your organization now and in the future. 

3 Ways to Hyper-Personalize Your Luxury Brand Marketing Strategy

luxury brand marketing strategy

Luxury brand marketing doesn’t just involve communicating and delivering products of a specific brand. It also involves creating and maintaining an image for your company that is based on a core set of values. To win over the luxury consumer, you must use hyper-personalization to focus on the nuances of your prospect’s interests. Let’s explore the ways you can leverage hyper-personalization in your luxury brand marketing strategy.

What is Luxury Brand Marketing?

Luxury brand marketing is the business of promoting and selling the luxury goods of a high-end company. For some luxury brands, that could mean showing your customers that your company and products are novel and iconic. For others, they may want to show their customers that their company and products are unique and creative. Hyper-personalization is one of the best ways to sway the luxury consumer.

Shifting Perception of Luxury

The luxury market is expected to grow 5% annually through 2020. According to Forbes, this growth stems from Millennials’ evolving relationships with luxury brands.

Initially, luxury brands wanted to create elite and exclusive experiences for their consumers. Before, it was about creating spaces for customers to get high-quality products with high-quality service. Today, people still feel the need to be part of a select group but they also want to feel uplifted. So, they want to support what brands represent. This is a shift in luxury brand marketing. Your value as a brand no longer comes from your name recognition. It is about the personal connections you make with your customers.

Traditional luxury goods, in that sense, are becoming less relevant. In this “new normal” luxury market, consumers want to feel immersed in a highly personal experience. People still want to get something unique, but they don’t want to purchase something based on the value of the brand. Although they still want luxury goods, they also something that makes a personal value of theirs into a tangible reality. Luxury brand marketing now requires brands to forge an emotional connection with their consumers, and to understand their personal preferences.

Uncover the Best Ways to Appeal to Millennial Millionaires

Looking to target high net worth customers for your brand? Download A Look at Millennial Wealth to discover the best ways to engage wealthy millennials.

Personalization vs. Hyper-Personalization in Your Luxury Brand Marketing Strategy

Personalization in marketing allows you to collect consumer data that’s more general: customer’s name, location, and purchase history. While this information is useful, it only gives you a vague impression of who is buying your products.

Hyper-personalization in marketing, on the other hand, allows you to receive real-time customer data so you can personalize messages you send to your customers, or potential customers. For hyper-personalization, you need to know as much as possible about your buyers, including their capacity to spend and their interests. Fortunately, you can get this regularly updated information from Wealth Engine’s database.

As a result, hyper-personalization allows you to execute your luxury brand marketing strategy with pinpoint accuracy.

Incorporating Hyper-Personalization into your Luxury Branding Strategy

Hyper-personalization is now approached as a necessity in luxury brand marketing. But, how best can you begin incorporating it into your luxury brand marketing strategy? It’s important to hone in your efforts in the following areas:

1. Tailoring Your Messaging

If you want to appeal to different kinds of people, and understand their individual values, you have to communicate with them in ways that make them feel seen. When you hyper-personalize your messaging, you can show your customers how your values align with theirs. It is important to name, acknowledge, and appreciate your customer’s values. Then, you can clearly evaluate and articulate the ways you fit into their values and needs.

2. Leveraging Models

Another way to strengthen your luxury brand marketing strategy is to create models. When you leverage wealth models, you can develop and engage with luxury consumers in a hyper-personalized way. Using WE Analyze or a descriptive model (such as a Look-Alike Model), you can uncover the unique qualities your best customers possess. This will help you develop a customer persona, where the interests and demographics of your ideal customers will become clearer. So, by honing in on your ideal customers’ distinct interests, you’re better able to anticipate and act upon their needs. You’re adapting to your customer’s behaviors, and finding ways to be of service to their individual needs.

So, let’s say your ideal customers are women over the age of 40 who have two pets. Those are what your best customers look like. But, let’s say you want to find more customers like them to appeal to. Specifically, customers who would be just as likely to buy as your existing customers. By using predictive modeling, our data scientists employ WealthEngine data along with yours to create a custom algorithm. Using this, we can predict who’s most likely to purchase items from your brand. In that sense, leveraging models allow you to see how likely your prospective customers are to make a purchase. And, this further helps you figure out what each individual will need in the future.

3. Communicating Your Purpose

Another key tactic in your luxury brand marketing strategy is to communicate your purpose. It’s important for you to communicate to your consumers what you support, and what your greater intention is for your company. There is a new trend toward “goodness-based spending.” Today’s luxury consumers want to know that you are “honest, relatable, committed to doing the right thing, and follow sustainable practices.”

Consumers value organizations that seek to have a greater impact on the world. Not only do individuals still want their needs catered to, they now want the needs of the greater good are catered to. By aligning your strategy with your mission, you will be able to find ways to appeal to potential consumers with your values.