Seeing through that new pair of glasses for the first time. Trying out that new Snapchat or Instagram filter. Climbing that mountain peak and seeing the world below. These are all different ways of looking at the same thing, offering a new perspective. We here at iWave know that you are constantly trying to find new ways of looking at your prospects. If you’ve been in the nonprofit world for a while, or even if you’re new to the game, you know that a fresh pair of eyes is sometimes the exact thing a project needs.
That’s what we’ve done with our new game-changing Multi-Lens Scoring feature.
This exciting advanced feature allows you to see your prospects through multiple lenses which are completely customized by you. This has never been done in the industry before, but don’t worry – we’ll take you through how to use it, and what it could mean for your organization.
iWave isn’t new to helping nonprofit organizations fully customize their fundraising experience based on their unique donors, missions, and goals. It’s what we do. And our Multi-Lens Scoring feature is the first of its kind in the industry. This feature allows you to view wealth screening results and donor profiles under multiple settings depending on your fundraising goals. Let’s jump in.
First step: screen your list based on your own customized preferences, right within iWave. You can adjust your affinity (giving interest), capacity (ability to give), propensity (history of giving), wealth capacity ranges, and your own RFM (Recency, Frequency, Monetary) score settings – all based on your organizational needs. New to screening? No worries, we can help with that. This kind of customization is only offered by iWave and will boost your fundraising to a whole new level!
Second step: set up your scoring lenses. You can create up to five lenses, each with different preferences. Then, dive into those actionable insights. It’s that easy! Once you have screened your constituents, you’ll be able to view your results from each lens, side by side.
Still can’t picture it? Don’t worry, here are a few examples to help.
You work for a hospital. You are gearing up for a campaign to raise funds for an Arts Therapy Facility. You know that you want to find people who care about healthcare to give to your cause. But wouldn’t it be great to also see what prospects in your database care about arts organizations?
Within iWave’s settings, you can select Healthcare as the primary affinity (giving interest) to find donors that have donated to healthcare organizations in the past and have a high capacity and history of giving. That’s one lens.
For a second look, using Multi-Lens Scoring, you can set up another lens by selecting Arts and Culture as the primary affinity. Under this view, you will uncover prospects that have a track record of donating to arts and culture causes or those who may be an executive or a board member at an arts and culture organization.
Now you can segment your top prospects into two lists based on their affinity, and engage with each group using tailored messaging that focuses on their giving interest in either healthcare or arts and culture. What a place to start with your fundraising effort!
As another example, say you work for a museum with paying members. If you’ve run a wealth screen before, you already know how to find your top wealth prospects that are most likely to give to you. For this standard screening, you’d probably use equal weights for your affinity, propensity, and capacity scores. But for a different perspective, let’s look at your members. You already know they have a strong affinity to your mission, because they pay for key access. By using Multi-Lens Scoring, you can create a brand new lens and put more weight on capacity and propensity. For example, if you reduce affinity to 5% and bump up capacity to 80% and propensity to 15%, this allows you to pinpoint and focus your energy on members who can give more.
We KNOW that one size doesn’t fit all. Fundraising professionals face so many challenges surrounding how to identify, qualify, and retain donors to ultimately raise more for their cause. When you better understand your prospects, you can uncover more gifts of all sizes. And no two nonprofits are the same, so why should your profiles, scores, and settings be the same?
There are endless possibilities with Multi-Lens Scoring. Ultimately, it boils down to even more customization for your fundraising efforts. With 5 lenses to try, you can compare and contrast your results, put together multiple lists to work through, and it could even broaden your horizons to new potential projects and donor segments that weren’t on your radar before.
To learn more about this exciting feature, register for our webinar here!