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The benefits of Wealth Screening and identifying the “hidden gems” in your fundraising CRM database. These are donors who can make a one off gift, or who can influence a single gift, of at least £5,000. We commonly refer to these individuals as ‘Liquid Asset Millionaires’. Our Wealth Intelligence matching service uses factually researched information Wealth Intelligence Database that has been developed by fundraising researchers using information in the public domain. AdvantageNFP provides the service to match your CRM database against the Wealth Intelligence database and to report our findings to you and provide you with details of the matches.
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AAA Conference 2013Wealth Intelligence for
Dummies18th November 2013
© Steve CastRedbourn Business Systems Limited
POLITE NOTICEThis presentation is
Copyright © Steve Cast, of Redbourn Business Systems Limited 2013 with all rights reserved. Please
do not distribute this presentation without first confirming with [email protected]
Thank You
W ealth Inte lligence for D um m ies Slide 2 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 2 © Steve Cast, Redbourn Business Systems Limited
W ealth Inte lligence for D um m ies Slide 3 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 3 © Steve Cast, Redbourn Business Systems Limited
Please switch OFF your PhonesThank You
Where? When?
Why?How?Who?
What?
So?
Then? But?
W ealth Inte lligence for D um m ies Slide 4 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 4 © Steve Cast, Redbourn Business Systems Limited
Question and Answer Session
At The End
Who’s the Wealthiest?
W ealth Inte lligence for D um m ies Slide 5 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 5 © Steve Cast, Redbourn Business Systems Limited
Who are the “hidden gems”In your supporterdatabase?
Introduction
Developers of the AdvantageNFP Fundraiser integrated fundraising, membership and alumni database and AdvantageNFP Box Office integrated fundraising and box office systems
Redbourn Business Systems formed in 1994
Steve Cast, Founder and Managing Director of Redbourn Business Systems Limited
W ealth Inte lligence for D um m ies Slide 6 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 6 © Steve Cast, Redbourn Business Systems Limited
Please Give Us Your Feedback
For a copy of this presentation please visit AdvantageNFP.com or leave your business card with my colleague Jane, or visit us on our stand today.
W ealth Inte lligence for D um m ies Slide 7 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 7 © Steve Cast, Redbourn Business Systems Limited
Wealth Intelligence for Dummies
What is Wealth Intelligence?
Taking You On A Wealth Journey
Using The Results
W ealth Inte lligence for D um m ies Slide 8 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 8 © Steve Cast, Redbourn Business Systems Limited
Next Steps…
What is Wealth Intelligence?
What Is Wealth Intelligence?:
Identifying those with a capacity to give, or who can influence a single gift of at least £5,000
The Identification of Liquid Asset Millionaires
W ealth Inte lligence for D um m ies Slide 9 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 9 © Steve Cast, Redbourn Business Systems Limited
Introducing the Wealth Intelligence Database:
Factually Researched – Not simply a ‘finger in the air’ best guess.
W ealth Inte lligence for D um m ies Slide 10 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 10 © Steve Cast, Redbourn Business Systems Limited
Database of Liquid Asset Millionaires containing over 240,000 of the wealthiest names in the UK.
…and growing
Introducing the Wealth Intelligence Database:
Match At Two Levels:Individual & Family Name(at same address)
W ealth Inte lligence for D um m ies Slide 11 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 11 © Steve Cast, Redbourn Business Systems Limited
Typical Match Rates Of Between 0.5% and 5%.
Introducing the Wealth Intelligence Database:
W ealth Inte lligence for D um m ies Slide 12 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 12 © Steve Cast, Redbourn Business Systems Limited
Prospecting For Gold
Matrix
Data
Wealth
Intelligence
Database
Introducing the Wealth Intelligence Database:
W ealth Inte lligence for D um m ies Slide 13 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 13 © Steve Cast, Redbourn Business Systems Limited
Prospecting For Gold (1 of 2):
• Established for Over 15 years• Prepared by Fundraising Researchers• Sourced From Information In The Public Domain
Introducing the Wealth Intelligence Database:
W ealth Inte lligence for D um m ies Slide 14 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 14 © Steve Cast, Redbourn Business Systems Limited
Prospecting For Gold (2 of 2):
• Information Sources Include: Debretts, Who’s Who, Dash and the Times Rich List (see your handout)
• Over £200 Million Capital Appeals
Introducing the Wealth Intelligence Database:
W ealth Inte lligence for D um m ies Slide 15 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 15 © Steve Cast, Redbourn Business Systems Limited
Matrix Data:
• Established For Over 20 years• Prepared by Financial Sector• £10 Billion Raised For New Funds• 2.5 Million Records (of which there is a cross over with PFG).
Introducing the Wealth Intelligence Database:
W ealth Inte lligence for D um m ies Slide 16 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 16 © Steve Cast, Redbourn Business Systems Limited
Prospecting For
Gold
Matrix
Investor
Wealth
Intelligence Datab
ase
Offers the widest range of wealth intelligence services in the UK.
Published on three software systems with additional profiles.
Introducing the Wealth Intelligence Database:
W ealth Inte lligence for D um m ies Slide 17 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 17 © Steve Cast, Redbourn Business Systems Limited
ExperianUK’s largest single source of consumer data
DNBUK’s largest resource for business data and corporate genealogy
Art and antique dealersArtists, composers and musicians
Bishops and church leaders
Chairman and managing directors of leading companies - Directors of major advertising agencies and PR consultancies, editors, publishers and journalists
CapitaCorporate registrars and investor intelligence
ComputershareCorporate registrars and investor intelligence
LloydsCorporate registrars and investor intelligence
Key sports personalitiesLeading literary figures
Directors of UK-based overseas banks and financial institutions
Film, theatre and TV actorsFilm, TV and radio producers and directors
Leading stockbrokers, bankers and people of influence in the City
Peers and Baronets,etc.
Prominent members of the legal profession
Trustees of grant giving foundations and charities
Matrix - large private investment transactions
PFG - Sources of wealth information
Registrars
Wealth Intelligence for Dummies
What is Wealth Intelligence?
Taking You On A Wealth Journey
Using The Results
W ealth Inte lligence for D um m ies Slide 18 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 18 © Steve Cast, Redbourn Business Systems Limited
Next Steps…
Taking You On A Wealth Journey
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 19 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 19 © Steve Cast, Redbourn Business Systems Limited
Prepare DataData AuditWealth Tag?Snapshot Reports?(incl. Attributes)Data Mining?
Prepare Data.Data Audit.Wealth Tag?Snapshot Reports?(incl. Attributes) Data Mining?
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 20 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 20 © Steve Cast, Redbourn Business Systems Limited
Prepare DataDatabase extract of URN, Title, Forename, Surname, Address (including postcode)
Optionally RFV
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 21 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 21 © Steve Cast, Redbourn Business Systems Limited
Data AuditStatistics and costs on:
• Data Cleaning• Supporter Profiling• Wealth Screening
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 22 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 22 © Steve Cast, Redbourn Business Systems Limited
Powered by Redbourn’s AdvantageNFP Fundraiser
Demonstration – Data Cleaning
W ealth Inte lligence for D um m ies Slide 23 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 23 © Steve Cast, Redbourn Business Systems Limited
Powered by Redbourn’s AdvantageNFP Fundraiser
Demonstration – Data Cleaning
W ealth Inte lligence for D um m ies Slide 24 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 24 © Steve Cast, Redbourn Business Systems Limited
Powered by Redbourn’s AdvantageNFP Fundraiser
Demonstration – Data Cleaning
W ealth Inte lligence for D um m ies Slide 25 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 25 © Steve Cast, Redbourn Business Systems Limited
Powered by Redbourn’s AdvantageNFP Fundraiser
Demonstration – Data Cleaning
W ealth Inte lligence for D um m ies Slide 26 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 26 © Steve Cast, Redbourn Business Systems Limited
Powered by Redbourn’s AdvantageNFP Fundraiser
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 27 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 27 © Steve Cast, Redbourn Business Systems Limited
WEALTH TAG ONLY
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 28 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 28 © Steve Cast, Redbourn Business Systems Limited
Wealth Tag Only:
• Simple Flag Indicating Wealth Match• Allows Some Searching/Segmentation• No Wealth Attributes• No Further Analysis or Documents
W ealth Inte lligence for D um m ies Slide 29 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 29 © Steve Cast, Redbourn Business Systems Limited
Case Study 1In 2008, an animal shelter charity ran a wealth screening exercise and tagged their database of supporters with the single wealth tag. They then ran a “tea and cakes” afternoon, for a new cattery, inviting the tagged individuals to attend. This single event raised over £10K in just one afternoon. They have since gone on to run similar events with continued success.
Wealth Intelligence for Dummies
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 30 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 30 © Steve Cast, Redbourn Business Systems Limited
If We Keep GoingWhat’s Just Over The Horizon?
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 31 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 31 © Steve Cast, Redbourn Business Systems Limited
SNAPSHOT REPORTSINCORPORATING
WEALTH ATTRIBUTES
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 32 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 32 © Steve Cast, Redbourn Business Systems Limited
Snapshot Reports/Wealth Attributes:
• 30+ Attributes• Allows Better Searching/Segmentation• Some Further Analysis Available• Target The Best Donors At The Best Time
Wealth Intelligence Attributes (1 of 2):
W ealth Inte lligence for D um m ies Slide 33 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 33 © Steve Cast, Redbourn Business Systems Limited
• URN• Date Added• Gender• Primary Addressee• Title (x2)• First Name• Middle Name• Surname • Suffix (x2) • Maiden Name• Address Lines 1-3
• City• County• Postcode• Country• Postal District• Region• Deceased Flag• Deceased Date• Birth Date
W ealth Inte lligence for D um m ies Slide 34 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 34 © Steve Cast, Redbourn Business Systems Limited
• Wealth Band (£1M - £50M+) • Age• Age Band• Primary Business Profession• Primary Business Organisation• Flags: Charitable Trust, Grant Making Trustees, Company
Wealth Intelligence Attributes (2 of 2):
Wealth Flag or Attributes Wealth Intelligence for Dummies
Flag Attributes
W ealth Inte lligence for D um m ies Slide 35 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 35 © Steve Cast, Redbourn Business Systems Limited
For: Simple Little (if any) DB Change
Against: No Research
Against: Limited Analysis and Limited Segmentation
For: Pre-Researched
For: Can Research Further For: Better Analysis and SegmentationAgainst: May Require DB Changes/Complex
Possible “Top 5” Wealth Attributes
W ealth Inte lligence for D um m ies Slide 36 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 36 © Steve Cast, Redbourn Business Systems Limited
Factual Wealth Band
High Value Donor Flag
Age BandFactual DOB
Venture Capital Trust
High Value Investment
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 37 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 37 © Steve Cast, Redbourn Business Systems Limited
Is There a Pot of GoldWaiting at the End of the Rainbow?
A Wealth Intelligence Journey
W ealth Inte lligence for D um m ies Slide 38 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 38 © Steve Cast, Redbourn Business Systems Limited
Data MiningSegmenting the data by using the wealth attributes and/or your own attributes.
For example: Recency,Frequency,Value.
Wealth Intelligence for Dummies
What is Wealth Intelligence?
Taking You On A Wealth Journey
Using The Results
W ealth Inte lligence for D um m ies Slide 39 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 39 © Steve Cast, Redbourn Business Systems Limited
Next Steps…Using The Results
W ealth Inte lligence for D um m ies Slide 40 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 40 © Steve Cast, Redbourn Business Systems Limited
Wealth Intelligence for DummiesUsing the Results
It’s All About The Right Ask
What Level of Gift?
Or Stewardship
W ealth Inte lligence for D um m ies Slide 41 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 41 © Steve Cast, Redbourn Business Systems Limited
Case Study 2In 2009, a leading university ran a wealth intelligence screen against their data. They identified a liquid asset millionaire alumnus giving £50 per month, but with a greater gift capacity. After data mining they arranged a face to face visit and in conclusion of that meeting received a cheque for £0.5M.
Wealth Intelligence for Dummies
W ealth Inte lligence for D um m ies Slide 42 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 42 © Steve Cast, Redbourn Business Systems Limited
Case Study 3In 2009 a leading international development charity used the wealth screening process to identify liquid asset millionaires across its entire live data set. These supporters were wealth tagged on the database and a relationship building process was initiated. These potential high value donors have received tailored communications about the organisation’s work and have been invited to an evening event with keynote speakers. The emphasis with this project is to build relationships with these supporters so they identify with the organisation, the aim being sustained funding in future rather than one off donations.
Wealth Intelligence for Dummies
Wealth Intelligence for Dummies
What is Wealth Intelligence?
Taking You On A Wealth Journey
Using The Results
W ealth Inte lligence for D um m ies Slide 43 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 43 © Steve Cast, Redbourn Business Systems Limited
Next Steps…Next Steps…
Wealth Intelligence for Dummies
Next Steps
Now•Prepare Your Data for Audit•Carry Out Free Audit•Apply Tags or Attributes
Then•Prepare Campaign•Data Mining/Research•Make Qualified Approach
W ealth Inte lligence for D um m ies Slide 44 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 44 © Steve Cast, Redbourn Business Systems Limited
Wealth Intelligence for Dummies Summary
What is Wealth Intelligence?
Taking You On A Wealth Journey
Using The Results
W ealth Inte lligence for D um m ies Slide 45 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 45 © Steve Cast, Redbourn Business Systems Limited
Next Steps…
Identify Liquid Asset MillionairesGive or Influence
£5K Gift Factually
ResearchedWealth Intelligence
Database Prepare DataData AuditWealth Tag Only?Wealth Attributes?Data Mining
The Right AskThe Right TimeThe Right Level Prepare for AuditCarry Out AuditApply Tags orApply AttributesPrepare CampaignData MiningQualified Approach
Wealth Intelligence for Dummies Summary
W ealth Inte lligence for D um m ies Slide 46 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 46 © Steve Cast, Redbourn Business Systems Limited
Wealth Intelligence
- Not rocket science Wealth Intelligence - Simply What It Says
On The Tin
Wealth Intelligence for Dummies
Need More Help?
W ealth Inte lligence for D um m ies Slide 47 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 47 © Steve Cast, Redbourn Business Systems Limited
Visit our stand today
Email us [email protected]
www.AdvantageNFP.com
Wealth Intelligence for Dummies
Question and Answer Session
W ealth Inte lligence for D um m ies Slide 48 © Steve Cast, Redbourn Business System s Lim ited
Wealth Intelligence for Dummies Slide 48 © Steve Cast, Redbourn Business Systems Limited
Thank You For Your Time