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Slidedeck from the Idealist Consulting-WealthEngine webinar 4/30/14.
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1wealthengine.com wealthengine.com
Soliciting Major Donors with WealthEngine
April 30, 2014
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Introductions
Danielle St. Germain-Gordon
Director of DevelopmentGuthrie Theatre Minneapolis, MN
Sally BoucherDirector of Research
WealthEngineBethesda, MD
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WealthEngine
Trusted By
20+ Years Experience
4,000+ Clients
120MM+ Households
10+ Terabytes
2,000+ Unique Attributes
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Our Services
Smart Solutions to Support Your Strategy & Budget
Data Services
Analytics Services
MarketingServices
Direct MailEmail CampaignsDigital
Wealth ScreeningLifestyle AppendsProspecting
Custom ModelsSegmentation AnalysisCircle of Friends
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WealthEngine for SalesForce
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Best Practices in Soliciting Major Donors
Through the lens of the donor cycle:Identificatio
n
Qualification
Discovery
Cultivation
Solicitation
Stewardship
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Major Gift Thresholds
10 100
250
500
60010
0010
0112
0012
5015
0018
6920
0025
0030
0036
0040
0050
00
1000
0
1500
0
2000
0
2500
0
3000
0
3500
0
5000
0
7500
0
1000
00
1050
00
2500
00
5000
00
1000
000
0
50
100
150
200
250
300
Average Minimum Major Gift Threshold Overall Average Minimum Major Gift size=$18,660
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Identification
Identification
Qualification
DiscoveryCultivation
Solicitation
Who are my major gift
prospects? Where/how can I find
more prospects?
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Identification Best Practices
Use a combination of methods to identify major gift prospects in your database
Data miningPeer screeningData screening/wealth & lifestyle appends
Find new prospects using all the tools at your disposal
In the newsPublished donor listsPeer referralsCustom prospect lists
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Qualification
Identification
Qualification
DiscoveryCultivation
Solicitation
Does this prospect meet my minimum
criteria for a major gift prospect?
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Qualification Best Practices
Find enough data to answer the question: “Is this a major gift prospect?”
Capacity – can s/he make at least a gift of $X over 3-5 years?Affinity – Does s/he have some connection to our organization? Philanthropy – Has s/he indicated a philanthropic propensity by donating to our or other charitable organizations?
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Discovery
Identification
Qualification
DiscoveryCultivation
Solicitation
Does this prospect have the
interest to further
engage with our
organization?
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Discovery Best Practices
Ask for permission to speak with them: “Is this a good time?”Be open about who you are and what you doAsk open-ended questionsListen for cues of reluctance or interestIf there is interest, make an appointment to visit face-to-face, or get permission to contact them at a later timeIf there is not interest, move on!
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Cultivation
Identification
Qualification
DiscoveryCultivation
Solicitation
How can I move this prospect
closer to our organization?
What are his/her specific
interests and passions?
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Cultivation Best Practices
Identify organization touch pointsLearn the important “rights”
Right timeRight amountRight partnersRight purpose
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Solicitation
Identification
Qualification
DiscoveryCultivation
Solicitation
Ask for a specific gift
amount for a specific purpose
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Solicitation Best Practices
Make sure you have the decision makers presentPrepare written/graphic materials as appropriateAsk for a specific amount for a specific purposeDon’t be first to speak after the askEstablish next steps
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Comments or Questions?
Additional Resources: Join WealthEngine Institute @http://info.wealthengine.com/Institute.htmlAnnual Giving WorkbookIndividual Giving WorkbookBest Practices for Advocacy and Community Organizations
