WealthEngine 9.3 Automates Donor Segmentation and Charts the Next-Best Connections to Prospects

WealthEngine 9.3 Automates Donor Segmentation and Charts the Next-Best Connections to Prospects

May 29, 2020
Dawn Lastre

WealthEngine announced today the release of WealthEngine 9.3 (WE9.3), an upgrade to its nonprofit version of its flagship platform which now includes unlimited screening and prospecting for one flat rate. The advanced prospect engagement platform, which features the industry’s first machine-learning-based Donor Pyramid Modeler with SmartActionTM technology to identify their next best action and a visual layout of their best connections to new prospects. The new features use WealthEngine’s predictive analytics, continuously refreshed data, wealth and propensity scores, and actionable insights to help organizations achieve their fundraising goals faster and more cost-effectively than ever before.

With over 165 million donor records in the WealthEngine platform and 500,000 new ones curated each week, users have access to the latest charitable, political and philanthropic giving information. Along with nearly a trillion additional data points, WealthEngine’s proprietary artificial intelligence and machine learning capabilities curate predictive scores and models that help fundraisers to proactively identify their next-best action to drive more revenue.

Donor Pyramid Modeler – the fastest way to segmenting your donor base

The Donor Pyramid Modeler enables organizations to segment their donors into fundraising tiers instantly. Campaign managers and fundraisers simply enter their fundraising goal and optionally adjust their giving thresholds and conversion rates to create a What-If analysis, or use WealthEngine’s benchmark settings, to see how many prospects are needed for each tier. The tiers include Planned Givers, Annual Givers, Mid-Level Givers, etc. and are customized at each level. The Donor Pyramid Model algorithm can be applied to any list of donors automatically to see who belongs in each tier, giving users an instant snapshot of their fundraising potential from existing donors and a fast way to find prospects with the right profile to achieve their total fundraising goal.

WealthScore – easiest way to prioritize your most-likely prospects

Organizations can now save even more time, cost, and effort by using one single score from 1-100 that takes into account a prospect’s wealth, propensity, intent, affinity and more. Users can apply this score to their prospects as well as existing donors to make informed decisions that identify the most promising new opportunities as well as determine which donors have expansion potential.

Leslie VanSant, Chief Philanthropy Officer at Rainforest Trust, notes how WealthEngine plays a critical role in converting small initial donations into major gifts. “We invited people of a certain propensity to give on a trip. They went on the trip and enjoyed it so much that they came back and gave a 5-figure gift,” says VanSant. “That proved to me within weeks of purchasing WealthEngine that this was going to help us do our jobs.”

Visualization of Connections – shortest path to reach next-best donors

A new visual connections display allows users to chart the shortest path to prospects by seeing who is likely connected through personal, nonprofit board and professional relationships. This single-pane view of connections includes the predicted strength of those relationships so users can identify people they already know who can make warm introductions.

Future releases will integrate 1-click fundraising email templates where users can directly enable their best donors to facilitate these highly personalized connections. Customers have seen 3x-5x increase in engaging with lapsed donors, renewed memberships and increased the lifetime value of existing donors.

“With new donors from #GivingTuesdayNow and increased philanthropy in response to COVID-19, WealthEngine’s clients will be able to segment their donors in the proper giving tiers instantly to identify who the right prospects are for planned gifts, major gifts, mid-level gifts and annual donors,” said WealthEngine CEO PV Bocassam. “The Donor Pyramid Modeler does all of the calculations automatically, which saves our clients weeks of time and effort and pinpoints specific highly valued targets. Combined with the power of curated connections to their best donors, clients can now engage potential donors with a personal touch.”

Real-Time Salesforce Nonprofit Cloud Integration – seamless bi-directional support

Evolving from WE9, this latest version of our platform easily integrates with Salesforce allowing WealthEngine to instantly append each new record added with their latest data, scores, and insights. The WealthEngine Insights for Salesforce certified app can be downloaded from the AppExchange and connected to a WealthEngine account quickly, allowing users to maintain their current fundraising and campaign workflow while enriching new and existing contacts with significantly improved scoring to help them prioritize outreach activities. Salesforce campaigns can also build and activate any predictive models, via our SmartActions™ API, directly from Salesforce.

Industry’s leading consultants and resellers who use WealthEngine’s data and models to provide informed recommendations to their clients can use the new Donor Pyramid Modeler and visual connections features to offer enhanced services that lead to more effective fundraising efforts.

“WealthEngine provides us with important data we need to develop smarter strategies for our clients’ fundraising efforts,” says Ian Swedish, Corporate Vice President at CCS Fundraising. “In particular, we find that the accessibility and quality of their wealth intelligence to be a leading solution in the marketplace. By integrating scores and ratings into our own tailored analytics work we are able to identify, segment and prioritize high potential prospects that are critical to attaining sustained fundraising growth.”

New Admin Module reintroduces “Per-User” Pricing – allows for easy user administration for large organizations

Among the many new features in WealthEngine 9.3 is the new pricing option which allows clients to screen and append all of their records for a flat price without incurring additional “per record” fees. The new pricing packages also include access to all 250M individual prospecting records each with over 1,800 attributes. This saves countless hours of time and reduces the cost to acquire a customer or donor dramatically, which is becoming ever more critical in today’s COVID-19 environment.

The platform currently ships with a pre-built “Look-Alike Model” and applies advanced machine-learning techniques to find their ideal prospects across all 180M households that fit that specific criteria. These models can also be user-defined on the platform or avail our WealthEngine’s Data Science services team to build custom models or scores that are specific to the organization needs. These pre-built library of models have a published API endpoint that can be called-back directly from any CRM/DMS application.

About WealthEngine

WealthEngine is the industry’s premier wealth intelligence software provider for more than two decades. We have been supporting more than 3000 industry-leading higher education, healthcare systems, advocacy, financial services, and high-end luxury brands and hospitality organizations in capturing and retaining tens of billions of dollars. Fueled by our wealth and lifestyle signals, our customers measurably improve their personalization and effectiveness across fundraising, capital campaigns, marketing, and overall engagement with their audience.

Rooted in machine learning, with a cloud-native architecture, the WealthEngine 9 platform boasts an entirely new user experience to provide wealth, demographic and lifestyle signals that come together to formulate powerful scores, available in real-time. Underpinned by the company’s SmartAction™ technology, pinpoints, predicts and helps personalize engagement with potential prospects. Unlike other point tools, our platform is the most convenient way to continually send and respond to changing motivations for their audience to connect, save, buy or donate.

The company is an active participant in Pledge 1%, regularly giving back to the community it serves through time, product and donations. Based in Bethesda, Maryland, the company has offices throughout the US and India. Learn more at http://www.wealthengine.com.


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