Wealth Signal: An Overview of Your Most Important Scores

Wealth Signal: An Overview of Your Most Important Scores

November 22, 2019
Nandini Singh

Effective donor and customer engagement starts with gaining a deep understanding of your constituents. What their interests are, what their giving and spending history is like, and how they’re likely to donate or invest in the future. Let’s explore how WealthEngine’s Wealth Signal will help you make informed decisions on which prospects are the best to engage.

What is Wealth Signal™?

Wealth Signal is a visual indicator of the relative strength of an individual’s propensity to give (P2G); net worth; income; real estate holdings; estimated giving capacity; donations; and connections. By tracking these parameters, you are able to determine how best to grow your pipeline. Additionally, you have the insights to generate more donations & sales, and achieve your business objectives with ease.

Furthermore, the Wealth Signal gives you a quick view of what an individual’s propensity, capacity, and intent is in terms of giving or investing. It allows you to gather donor, customer, and prospect information efficiently while also providing you with the insights to make a quick appraisal of a prospect.

Wealth Signal: Visual Breakdown

Similar to a cell phone carrier bar signal, the bars displayed for each parameter indicates the range of relative strength, from the low to high end of the scale. For instance, 5 bars indicate that an individual’s score is on the high end. This implies high financial strength, monetary value, and influence. By contrast, a lower number of bars or a single bar would suggest the opposite.

This strength is also indicated by color. The high-end of the scale (4-5 bars), is in green; the middle of the scale (3 bars) is in yellow; the low end of the scale (2 bars) is in red. So, this simple visual now gives you a bird’s eye view of the most relevant scores on any individual profile.

Wealth Signal: Ratings and Scores

Wealth Signal tracks 7 wealth indicators, including:

1. P2G (Propensity to Give)

The Propensity to Give (P2G) score is a proprietary score that represents propensity for general philanthropic giving. It’s a two-digit number. The first digit represents the overall category, on a scale of 1-5, along with a text description. Additionally, the second digit is used to subdivide and rank individuals within that category. So, in both cases, the lower the number, the better the score.

2. Net Worth

Net worth, as it is displayed in Wealth Signal, indicates the range in which the difference between total assets and total debt for a household is likely to fall. This is a primary indicator of an individual’s overall wealth.

So, while sifting through multiple profiles, the net worth Wealth Signal will help you segment and determine which prospects best match your existing donors or customers. It’s these potential donors or customers who will be most likely to give or invest.

3. Income

Income indicates an individual’s regularly accrued funds. So, based on the strength of an individual’s income in Wealth Signal, you can determine how much of a donation or investment you could receive from that individual on a recurring basis.

4. Real Estate

Real estate, in Wealth Signal, indicates a range estimating the total value of properties owned by an individual. These insights may help you evaluate whether someone invests in real estate or would be a potential candidate for a legacy gift.

5. Estimated Giving

Estimated giving displays a range, estimating how much an individual could give in the next 5 years. So, the estimated giving strength is informed by an individual’s giving history and assets among other things. Additionally, this section helps prospect researchers determine how much an individual may give in the future.

6. Donations

Donation strength indicates the value of gifts given to causes by an individual. This signals to nonprofits how much a donor has given in the past. So, they are better able to understand their donor’s potential to give in the future. Are they a hidden gem with an untapped capacity to give? Are they a high-impact donor? Or can they be upgraded?

This metric (along with estimated giving) can also be of significant value to wealth managers. This can also help managers understand an individual’s philanthropic interests beyond business. So, based on these insights, they can tailor their outreach in ways that are relevant & personal. Additionally, they can offer them specific investments such as Donor-Advised Funds (DAFs).

7. Connections

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 high-impact donors or wealthy prospects.

The parameters tracked with Wealth Signal allow wealth managers and development organizations alike to understand their prospects deeply. At first glance, you’re able to easily visualize an individual’s propensity and capacity to give or spend. But, Wealth Signal goes beyond that. The parameters tracked, along with their strength, give you a comprehensive, high-level understanding of an individual’s motivations and behaviors. This also allows you to personalize your outreach. As a result, you can begin cultivating and nurturing lasting relationships with your prospects.

 

See the Wealth Signal for Your Prospects

Test drive WealthEngine to see your prospects’ estimated net worth, income, giving capacity, connections, and more.

WealthEngine9 or WE9, our newest release, is transforming the commercial prospecting landscape. Explore how our Engagement Science™ speeds up the way you screen, analyze, find insights, and predict outcomes through modeling.

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