Who needs donor research tools?

Forging lasting connections with donors is a cornerstone of working in Development. The best way cultivate strong relationships with them? Understanding more about your donors’ interests and giving history. By leveraging the use of donor research tools such as WealthEngine, you can access donor information in one easy and accessible place. This can help you optimize your outreach and forge relationships that last.

To explore the benefits of donor research tools, read this article, “Who Needs Donor Research Tools,” published in Philanthropy Daily by Elizabeth Palla.

LinkedIn Donor Prospects Older, Better Educated


When you hear the phrase “social network,” your first thought might be seeing another “Which character in Game of Thrones are you?” personality test that another friend has shared on Facebook. Add the word “professional” in front of “social network” and it might change your perspective completely.

Facebook and Twitter have their uses for nonprofits and so does LinkedIn, but in a much different way. LinkedIn provides more concise information — without all the personal stuff. People are likely to post their business and school information on LinkedIn — things that are helpful to research and fundraising folks making it a better option for prospect research.

During a session at Fundraising Day New York at the Marriott Marquis in Midtown Manhattan this morning, development prospect research analyst Qaya Thompson shared how LinkedIn is used at Yale-New Haven Hospital. Joining Thompson on the panel were Sally Boucher, CFRE, director of research at WealthEngine and Jeremy Woolf, director of marketing at CCS.

Yale-New Haven Hospital uses LinkedIn for research, to verify name, school information, employment/title and interests. Although LinkedIn users often provide a lot of information, Thompson said it’s important to always cross-reference what’s listed with at least two other sources. Sometimes things are out of date and people are not completely honest.

LinkedIn has more than 100 million U.S. members, 300 million in all, and they tend to skew older, have higher incomes and are better educated than other social networks. The average LinkedIn user is 44.2 years old and 79 percent are 39 or older. They have twice the purchasing power of the average U.S. consumer, with an average household income of $83,000, far more than Facebook ($25,000) and Twitter ($52,000). Almost half of LinkedIn users have incomes of more than $100,000.

The free version of LinkedIn allows you to view in depth profiles, identify board members and search based on nonprofit interests. LinkedIn Premium, which has a monthly fee, helps with running more advanced searches that include groups, years of experience, seniority level, and company size, among other variables.

Woolf offered three “best practices” for nonprofits before they leap onto LinkedIn:

  • Right-size your expectations
  • Have a plan to use the information
  • Have a place to import data – like company name, title, URL and industry – to in your CRM or DMA

When it comes to connecting, he suggested asking connections for an off-line introduction. As part of the follow-up from a meeting, personalize a request to connect via LinkedIn and ask connection if they would serve as a connector to their network.

Panelists offered a number of tips to consider when exploring LinkedIn for fundraising and prospect research:

  • Know your privacy settings;
  • Use LinkedIn as a first resource for verifying employment, title or company;
  • Use LinkedIn as a resource for finding or verifying professional and school connections;
  • Use LinkedIn for finding “nice to know” information for profiles and conversation starters;
  • Use LinkedIn for donor insights, and
  • Follow accepted ethical guidelines.

Read the full article on TheNonProfitTimes website »

Rich in Love: Finding Wealthy Singles

They’re single and ready to mingle! Introducing our breakdown of the United State’s most eligible, wealthy singles. Learn all about their interests, where they live, what they do, and much more. With WealthEngine’s wealth and lifestyle insights, you can easily search, screen, model, score, and segment to connect and engage with the best prospective donors and customers.

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Trends in Luxury Real Estate: How Data Will Help You Win More Business

By Craig Hogan

The luxury real estate market is rich — with opportunity. But the price that today’s luxury agent must pay to play in this segment isn’t just in dollars. It’s in data.

The high-net-worth and ultra-high-net-worth markets are more vibrant than ever with the rise in the number of millionaires, multi-millionaires, and demi-billionaires. For luxury real estate agents, it’s crucial to have a holistic understanding of what drives and motivates these clients, how they spend and save, what style resonates with them and how you as an agent can distinguish yourself when working with affluent clientele.

While the luxury market has softened in some areas and some price points, home prices are steady in most parts of the country and the sale of $10 million homes has remained strong.

That means if you want to get in on the action, you must do your homework! The most successful agents in the luxury market are always attuned to the latest trends and have a great facility for connecting them to the unique interests of the individual clients.

A new report from Coldwell Banker and WealthEngine, Millionaires vs. Demi-Billionaires: Wealth in 2018, compared the attitudes and preferences of the U.S. millionaire market – defined as those with a net worth of $1 million or greater – and the U.S. demi-billionaire market – defined as those with a net worth of $500 million or greater – to identify the top market and lifestyle trends shaping the luxury sphere.

Awareness of the real estate market conditions driving the affluent clientele’s purchases has become table stakes. You need a deep understanding of their lifestyles and the trends that shape them so the real estate experience fits seamlessly into their lives. You need to understand not only how a client’s investing strategies play into their buying decision, but also have a discerning eye for the style that will resonate.

The Millionaires vs. Demi-Billionaires report gets to the heart of these macro trends and what they mean for you as a luxury agent.

Top luxury real estate market trends in 2018 include:

  1. Increased mobility: Technology allows consumers to be increasingly mobile. Weekend vacation homes are a trend of the past, as we’re seeing more luxury clients buying full-season vacation homes where they can work remotely.
  2. Geographic expansion: The wealthy are expanding their property ownership beyond coastal locations where they have historically been based. Millionaires are investing in properties spread across New Jersey, Massachusetts, Virginia, Washington, Illinois, and Maryland, while demi-billionaires are emerging in Colorado, Illinois, and Pennsylvania.
  3. Spending power: Only 10 percent of demi-billionaires and 7 percent of millionaires are aged between 40 and 50, but they’re growing groups. While older generations may possess more current wealth, younger generations have tremendous spending potential and are a key group for luxury agents.

Top luxury lifestyle trends in 2018 include:

  1. Amenity-rich homes: Millionaires and demi-billionaires influence everything from how homes are being built and purchased to how they’re decorated and renovated. They’ve redefined what buyers want, and builders are responding – we’re seeing industry shifts toward amenity-rich homes with features like private gyms and statement wine cellars, as well as homes that are eco-friendly and smart home automated.
  2. Brand loyalty: When it comes to collection toys like automobiles, demi-billionaires are Mercedes all the way – ranking the Mercedes-Benz S Class, E Class and GL Class among their top favorites. Similar to the average consumer, these high-net-worth individuals can express brand loyalty to you or your network when you as an agent draw meaningful connections for them and customize their experience.
  3. Bespoke marketing: Building on a customized experience, luxury consumers want bespoke offerings and services. When they travel, for example, they want a personalized, transformative experience, notes Skift, a travel insights company. These consumers have already done research before going to a travel agent or a real estate agent and look to these agents as trusted advisors for a hands-on, bespoke marketing experience.

The power of personalization is essential across real estate. Millionaires (7 percent) and demi-billionaires (0.001 percent) only make up a small fraction of the U.S. population, yet they have vast power to influence trends and the economy. They are a tremendously diverse class of individuals and creating a customized experience for them is the way of the future in luxury real estate.

To stay ahead of the curve on the latest luxury trends, see how the Coldwell Banker Global Luxury® program equips its Luxury Property Specialists with state-of-the-art technology and educational resources so they can seamlessly connect with the world’s most affluent clientele.

Originally published here.

WealthEngine recognizes US Bank and Humane Society of the United States for Innovation and Leadership

BETHESDA, MD, November 2, 2018— Today, WealthEngine announced the winners of the inaugural WealthEngine Prosper Awards as the 2018 WE Prosper Summit concluded.

The inaugural WE Prosper Summit was an online gathering of thought leaders from global causes and international brands, where participants came together for a four-day conference of keynote speeches, how-tos, and case studies. The online summit contained eight hours of content including presentations from 15 thought leaders among our clients and partners. “It’s a privilege to work with and recognize the work of these industry leaders,” says PV Boccasam, CEO. “When corporations and causes collaborate around innovative technologies, the positive impact to their customers and communities are both measured and sustainable.”

The annual WealthEngine Prosper Awards honor leading brands and nonprofits that are delivering outstanding business and social impact using WealthEngine’s prospect engagement capabilities to deploy highly effective, personalized, wealth-aware campaigns.

The 2018 WealthEngine Prosper award winners are US Bank and The Humane Society of the United States.

Commercial Client: US BANK

Financial institutions with multiple product lines are best positioned to own the customer journey from current state to estate. This unified banking approach to prospect engagement requires personalization which can lead to a lift of 30-40%, as per a recent BCG report.

US Bank is one of the largest banks in the US with more than 3000 branches and over $450B in assets providing banking, mortgage, and investment services to individuals, businesses, and government agencies.

By utilizing wealth and lifestyle intelligence from WealthEngine, wealth managers at US Bank are now empowered to hyper-personalize their prospect and client outreach with the most relevant and meaningful interactions. Having instant access to over half-a-trillion data points on 250M US adults within their Salesforce environment is helping them significantly improve their effectiveness in nurturing their prospects while reducing their prospect acquisition costs.

“We offer our clients a fully integrated client experience that can simplify their financial life and help them work towards their goals. Establishing and growing the client relationship is an exclusive focus for us, and WealthEngine’s Prospect Engagement Platform is a key solution in making that happen.” – Chady AlAhmar, SVP Head of Strategy and Business Development – Wealth Management Group.


Founded in 1954, The Humane Society of the United States (HSUS) is a leading animal advocacy organization, seeking a humane world for people and animals alike. HSUS and its affiliates provide hands-on care and services to more than 100,000 animals each year and professionalize the field through education and training for local organizations.

HSUS is utilizing WealthEngine’s AI and machine-learning-powered Prospect Engagement Platform to find new prospects along with deep insights on their propensity, capacity, and intent helping them personalize their engagement across the entire donor journey. Recently, HSUS discovered over 110K new donors by modeling 150 of their best donors with the help of WealthEngine’s award-winning data science team, enhancing their ability to quickly reach their fundraising goals.

“By instantly screening, scoring, and ranking new donors as they come in using WealthEngine’s Prospect Engagement Platform and efficiently assigning them to the right team, we are able to optimize our portfolio of prospective donors and increase effectiveness in receiving major gifts. We are the nation’s most effective animal advocacy organization, and WealthEngine is a key partner in making that happen.” – John Vranas, Chief Development, and Marketing Officer, Humane Society of United States.

About WealthEngine

Using actionable wealth and lifestyle insights, WealthEngine (WE) fuels highly-targeted campaigns that continuously deliver measured outcomes. The WE prospect engagement platform is powered by more than a half-trillion data points and uses proprietary learning science to create unique WE Profiles for more than 250M people in the U.S.

For more than 20 years, we have ensured our clients engage in highly personalized and precise conversations with their audiences to find their next best prospect and drive growth. By elevating campaigns to the power of WE, our clients expand their audiences, decrease acquisition costs and increase revenue, along with the lifetime value of their donor or customers.

WealthEngine works in both the commercial and nonprofit markets with clients in financial services, luxury, retail, real estate, hospitality, healthcare, higher education, arts & culture, and with any organization looking to use wealth and lifestyle data to enhance their efforts.


Mine Your Luxury Marketing Database to Lower Customer Acquisition Cost

Everyone is looking for new customers for luxury marketing. What you may not realize is that a great source of new business is your existing customer database. Here’s how you can mine it to lower your customer acquisition cost.

Reduce Your Customer Acquisition Cost

The key to reducing your customer acquisition cost lies in how closely your past customers match your current target luxury marketing customer profile. The better the match, the more likely you’ll attract wealthy clients and have repeat customers. Correctly mining your current customer list can provide an abundance of prospects for your latest products or services.

“There is this philosophy that everybody is driving after net new customers,” said Patrick Bischoff, president of the Commercial Markets Group at WealthEngine. “Certainly, we want to grow our business and want to increase net new customers. Yet we at WealthEngine, together with our clients and some of the premier consultancies, have recently conducted studies. The first step in proper luxury marketing is to go back to your existing database.

Getting Past Customers to Buy

Not only is it less expensive for a business to retain past customers, it’s also more profitable. A Bain & Company study found that just a 5% increase in customer retention can increase a company’s profitability by 7%. Also, the average amount spent by a repeat customer was two-thirds more than a new customer.

According to a MarketingProfs.com article, getting your past customers to buy from you again can also result in more ongoing revenue. If you can convince your customer to make a second purchase, that customer is more than twice as likely to buy a third time. And that customer is more likely to buy even a fourth time! “If you’re able to make even a small increase in your conversion rate for second-time purchases, you’ll see serious revenue growth.”

So honing in with the right targeted marketing for your one-time buyers will increase the amount of second-time purchases. And once you’ve gotten them to make that second buy, it’s often only a matter of time before they make their next purchase. You’ll also reduce the customer acquisition cost.

Mining Your Luxury Marketing Database

Customers who happily made a purchase from you are more likely to buy again. Of course, you can start with purchase data to help determine what else they may buy from you. But purchase history alone may not be a good indicator of future luxury purchases.

Say you bought something at a fashion retail store. You’ll be in that retailer’s customer database. They may have your email address. They may have your name. But they have no idea what your potential is to buy more in the future.

“What is the capacity of the individual to spend with me, who I have already in my database? Most of our clients don’t know,” states Bischoff.

Previous spending is a key component of luxury marketing, but it should not be the only data point you’re using. Not all existing high net worth customers will have the abilty or capacity to spend more with you. So, identifying those who do is essential to enhancing your revenue and driving a higher customer lifetime value.

Finding Repeat Luxury Marketing Customers

Data beyond income or net worth will be valuable in determining your luxury marketing focus. Besides wealth, there are plenty of other data points to consider.

“We advise our customers to take their database and append it with our Wealth Engine information,” explains Bischoff. ”Appending means we match their records with ours. We have a database of 240 million individuals in the U.S., covering about 85% to 95% of the adult population. We match these individuals with our data and our system. Then we can add to the information that our clients have.”

One person may have a net worth of $5 million. Another person’s net worth is over $500 million. Plus there are up to 1,200 different data points on likes, affinities, donations, causes they support, etc. All this WealthEngine information is reported back to our clients. That allows them to start pinpointing their luxury marketing efforts toward people they already know. They already know to contact these people because a lot of them gave contact information in a prior buying session. That is the starting point.

Locate Your Best Luxury Marketing Prospects

Once you understand all of these things about your existing database, you can then start to make use of other resources. Those include AI, machine learning, and any kind of predictive modeling to score that database. By scoring, you can determine the best of the best luxury marketing prospects.

Should your database be segmented or categorized? Should you not market to the entire database, only two segments of it for certain products or services? The real trick is that score, which is a very unique feature of WealthEngine.

Getting specific about who you’ll be marketing to can make your work much more efficient. “It is imperative for brands, both luxury and non-luxury, to prioritize and segment their customer base. Then they can identify who they should focus their time and budget on in their marketing campaigns.”

Going Beyond Your Current Luxury Customer List

In addition to pulling your best repeat prospects from your own list, you can apply that modeling score to new prospects. The WealthEngine database is full of individuals with whom you have not had any previous interaction. Combining your data with WealthEngine data will model those potential luxury market buyers so that you can reduce your customer acquisition cost. Luxury marketing is not just about previous buying habits, but identifying others who are most like you past buyers. They are prospects who have the tendency to make purchases and have wealth to do so.

In that case, WealthEngine will give you the most “lookalikes” to your best customers. Those are people you know as your best customers based on how well they fit your target profile. Then, you will actually be marketing to the people who look most like those who already have some relationship with you. That will definitely reduce your customer acquisition cost.

“Comprehensive and informative data is a prerequisite to everything marketing today. It’s the foundation. You need to know something about an individual before you can customize your engagement strategies.”

Find out more about how WealthEngine data can help you reach more of your luxury marketing customers. 

WealthEngine Joins the Pledge 1% Movement, Makes Commitment to Integrated Philanthropy


WealthEngine announced last week that it has joined Pledge 1%, a corporate philanthropy movement dedicated to making the community a key stakeholder in every business. Spearheaded by Atlassian, Rally, Salesforce and Tides, Pledge 1% empowers companies to donate 1% of product, 1% of equity, 1% of profit or 1% of employee time to improve communities around the world.

WealthEngine is joining an impressive network of entrepreneurs and companies across the globe that have committed to philanthropic efforts through the Pledge 1% movement. By pledging 1% of its product, WealthEngine is demonstrating a commitment to philanthropic leadership.

“WealthEngine firmly believes that when corporations and nonprofits join together, we can uplift humanity around the world,” says PV Boccasam, WealthEngine’s CEO. “For us, this ideal is central to our company’s vision as well as how we strive to do business every day.”

Comments on the News

  • SALESFORCE QUOTE “Salesforce is dedicated to changing the way companies think about corporate philanthropy,” said Suzanne DiBianca, EVP of corporate relations and chief philanthropy officer, Salesforce. “Today, we’re excited that WealthEngine is joining us in giving their resources back to the community. This is another great example of the power that business has to create change in our communities.”
  • Pledge 1% QUOTE: “We are incredibly excited that WealthEngine has taken the pledge,” said Amy Lesnick, chief executive of Pledge 1%. “WealthEngine can play a pivotal role in building this movement and promoting a new normal in which all companies—big and small—integrate giving back as a core value in their business.”

About Pledge 1%

Pledge 1% is an effort spearheaded by Atlassian, Rally, Salesforce and Tides to accelerate their shared vision around integrating philanthropy into businesses around the world. Pledge 1% encourages and challenges individuals and companies to pledge 1% of equity, profit, product and/or employee time for their communities, because pledging a small portion of future success can have a huge impact on tomorrow. Pledge 1% offers companies turnkey tools and best practices, making it accessible for any company to incorporate philanthropy into their business model.