For researchers and fundraisers, iWave’s suite of billions of wealth, philanthropic, and biographic data points deliver powerful insights with simple and approachable queries and the ability to dive deep for those that need to. What sets iWave’s analytics apart from other tools is its robust data sources, formula transparency and top-to-bottom customization. These features ensure the analytics within iWave are always tailored to your nonprofit’s goals and strategies.
iWave’s Descriptive Analytics include prospect scores and ratings as well as features that are based on external data and data specific to your organization. These outputs help nonprofits segment and prioritize their prospects and donors, while powering iWave’s predictive analytics.
A few of iWave’s key descriptive analytic features include:
The iWave Score ranks a prospect’s giving potential based on their propensity, affinity, and wealth capacity. With the ability to customize the score and the industry’s first ever real-estate equalizer which ensures capacity is not over-inflated in areas where the median home price is high, nonprofits can always ensure iWave is aligned with their goals. Unlike other platforms, iWave includes affinity based on donations to organizations that are similar to yours, ensuring you’re able to always prioritize individuals who are most likely to give to you.
With iWave’s adjustable parameters, you can:
Segment donors based on their philanthropic history with your organization using iWave’s customizable RFM (recency, frequency, monetary) score.
Identify donors whose giving trend is increasing or decreasing so you can adapt your engagement and solicitation strategies.
View wealth screening results under multiple lenses depending on your fundraising goals and strategies to ensure you’re cultivating donors with the right messaging.
iWave’s Predictive Analytics uses advanced algorithms to deliver actionable insights on how to cultivate and engage prospects and donors. These analytics can also help nonprofits segment and prioritize donors at a more granular level.
Segmentation to help you prioritize based on their philanthropic history with your organization (RFM score) and their philanthropic and wealth history outside your organization (iWave Score).
An area of opportunity! These prospects have great potential to become major gift donors.
They have capacity and are already giving to other nonprofits, though they are not giving to yours.
Great major gift donors that are interested in your organization and donate to your cause. They may also be giving to others and could have the additional capacity.
Not Now Prospects
Individuals that do not appear to be philanthropic with you or other nonprofits. Unless additional information is uncovered, this group should be considered your lowest priority to action.
High performers that have a proven affinity to your nonprofit and are already donating charitable gifts. They are not on the radar of other nonprofits so continue to cultivate these relationships.
A recommendation on the messaging to use when cultivating your prospects based on their capacity (wealth) and propensity to give (history of giving and/or a board affiliation with a foundation).
These prospects need to know what their hard-earned money will accomplish. Start by sharing your mission and the impact of a gift using stories, photos and videos.
These are major gift prospects! Utilize personalized messages and customized initiatives like exclusive events, on-site tours or nomination for a board position.
These individuals should be considered your lowest priority. Encourage them to join your newsletter, follow your social media channels, or receive an annual mailing letter.
These prospects have likely hidden their wealth and are potential major gift donors. Do research to determine the right messaging. For example, if affiliated with a foundation, consider a grant request. If they give frequently, use personalized messages.
A recommendation on who is best suited to engage your prospects based on their capacity (wealth) and affinity to your cause (history of giving to organizations like your and/or board affiliation with organizations like yours).
These prospects have not shown a connection to your cause but have high potential to give. Utilize your communications or marketing team to engage these prospects in a nurture campaign.
These prospects have great potential to give a major gift or planned gift. Engage using highly influential advocates like your executive director, board members, or an existing major donor.
These individuals should be considered your lowest priority to action. Use inexpensive, time-effective channels like group emails and social media.
These individuals are passionate about your cause. Engage using ambassadors (e.g.
fundraisers, volunteers, members) and time-effective channels like group emails and social media.
iWave’s Summary Analytics provide a high-level overview of your search activities and profiles to help you build your fundraising strategy. For example, you can view the demographic breakdown of a portfolio and identify gaps or patterns.