WealthEngine: Higher Conversions and Cost-Savings through Data
Marketing has long been based on instinct. Today however, with customer tastes becoming more varied and complicated; instinct alone is not enough. Data-driven decision making, segmentation, targeting and positioning have become the norm for corporations. But is all data the same?
Marketers and fundraisers are faced with finding the right target audience to buy their product, invest or donate money from among millions of individuals with varied data points. Generic data may be easily available, but marketers pay a high price for prospects lost through the conversion funnel.
Under these market conditions, WealthEngine, a campaign automation company, based in Bethesda, MD, has created a unique way for global brands and social causes to benefit from advanced machine-learning and data science. This intuitive platform enables marketers and fundraisers to take an individualized approach.
“We put the AI in CampAIgn using machine learning algorithmsthat improve precision, timing and outcomes, with every successive outreach campaign,” states PV Boccassam, CEO & Board Member, WealthEngine.
Clients can conduct parametric searches on over 300 million profiles and 122 million U.S. households. WealthEngine’s robust wealth data on net-worth, income, assets, real estate, insider stock-holdings, and charitable contributions helps organizations reach the right high-net-worth individuals. Campaign precision and consequently conversion rates are driven up by enricheddataon demographics, lifestyle, political and ideological affinities, interests, etc. that creates a 360-degree view of prospects. This holistic yet private form of engaging with a prospect results in highly personalized, high-precision and high-impact outcomes that are repeatable and scalable.
Additionally, WealthEngine’s learning science models look-alike behavior, enabling clients to identify a model that works and replicate their success on subsequent campaigns. Clients can identify wealthy donors and see their entire wealth knowledge graph that gets deeper and richer over time.
The data from WealthEngine assimilates with the client’s existing data sets to deliver a complete view of prospects’ buying and spending capacity and to screen existing prospects to identify the best match for any given campaign in real-time. “With continuous learning from our data, clients can reach a prospect right at the moment of interaction. Precision+ timing is everything when it comes to conversion- knowing that your best prospect is right here, right now!” states Boccassam.
Moreover, the company follows stringent data security guidelines and performs audits through third parties and uses robust security mechanisms like hashing techniques and proprietary data security processes.
“We have had several success stories with nonprofits such as the Humane Society of The United States to luxury retailers like Buccellati,” statesBoccassam.
Lisa Mitchell, Director of Capital Campaign at Ronald McDonald House Charities who has used WealthEngine in a $30 million campaign has said, “This campaign has allowed us to push our board and committee members in directions they would not have gone before. WealthEngine’s Circle of Friends Analytics have helped our best; most enthusiastic supporters realize that they had even more contacts that could help the charity”
WealthEngine can be integrated with its client’s systems through API. As an API-first, cloud-native company, WealthEngine includes best-in-class wealth knowledge graphs, the data on which is continuously harmonized and refreshed.
“As the de-facto industry leader, we have seamlessly integrated our capabilities into recognized systems like Salesforce, and Ellucian, and 30+ systems across industries like nonprofits, healthcare, education, luxury retail, etc.”, states Boccassam.
Through WealthEngine’s enriched data and advanced machine learning, marketers and fundraisers can benefit from precise targeting; leading to high impact outcomes and increased cost savings.