Avalon Consulting: "WealthEngine is a Cost-effective Tool for Upgrading Donors”
“Fundraising is not so simple anymore,” explains Ann Herzog, president and founder of Avalon - Integrated Fundraising Experts.
“Analytics and data are becoming critical as fundraising costs go up and the fundraising environment becomes more volatile. WealthEngine provides that analytical piece needed today by fundraisers so they may use fundraising tools more effectively,” she said.
Herzog should know, as she and her clients use WealthEngine extensively in successfully upgrading donors. She adds, “WealthEngine offers the opportunity for more in-depth donor analysis. We have found it particularly effective with $1,000-5,000 donor programs.”
Herzog shares some of her results:
WealthEngine works when it comes to upgrading donors who give less than $1,000 to donors who give $1,000 or $2,000 gift amounts.
Specifically, Herzog finds that donors in the $250-999 range with WealthEngine qualifiers are good prospects for upgrades. For those donors in the $100-249 range, she and her clients look for either a P2G scores of 2 or less. The P2G score helps prioritize your prospects.
“These prospects get a more sophisticated and higher-end mailing,” notes Herzog. “Then, we follow up with a phone call.” And, the results? While most of Avalon’s advocacy clients are still in the midst of upgrading donors, most of the agency’s cultural clients saw an immediate and dramatic shift of $100 donors to the $1,000 giving level. Herzog explains, “Typically, cultural organizations have more natural and desirable benefits to offer to donors who upgrade.”
WealthEngine works in solicitation of additional gifts from current donors.
Interested in increasing your revenues from your next direct mail appeal? Herzog counsels, “Current donors in the $100-249 range who have WealthEngine qualifiers are more likely to respond to an appeal for a second gift.” Reviewing giving stats, Herzog sees overall that 11% of WealthEngine-qualified donors in the $100-249 increased their gifts, while 3% in the $10-99 category did so.
In these cases, appeals were by direct mail only. Herzog advises that these appeals tend to be most successful at the end of the year and that a matching grant challenge tends to help in increasing average gift amounts.
“All donors are not equal. Analytics tell what a particular donor is capable of and where fundraising resources should be focused,” summarizes Herzog. “So, WealthEngine is a tool to help an organization fundraise cost effectively.”
Avalon - Integrated Fundraising Experts is a full-service fundraising agency. Fundraising is the firm’s first priority, and Herzog and her team use direct mail, telemarketing, e-marketing and other tools to help organizations achieve fundraising success. Avalon has been serving nonprofits – primarily advocacy, arts & culture, and environment & conservation organizations – since 1997. Avalon is located in Washington, D.C.
