Webinar Recap: iWave’s New Game-Changing Multi-Lens Modeling Revolutionizes Fundraising
The past year has been a challenging one. The effects of COVID-19 have impacted nonprofits across the world as they try to continue to pursue their missions and goals while adjusting to changes to their programs and strategies. Most nonprofits that we speak with have fallen into one of two categories as a result of COVID-19:
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No matter what category your nonprofit aligns with, the common theme is that workloads have increased and so has the need for the right tools to ensure that your team can efficiently and successfully identify donors and raise more gifts.
Understanding that nonprofits need new ways to uncover new giving opportunities, we introduced our new game-changing feature: Multi-Lens Modeling. This feature, being the first of its kind in the industry, was designed to help you uncover top prospects that fuel all of your fundraising strategies, whether you are working to increase your pipeline for major gifts, increase annual appeals or retain net-new donors. With Multi-Lens Modeling, you can see your prospects through multiple lenses that are completely customized by you.
You can use Multi-Lens Modeling to:
- Find your TOP prospects who care about your mission
- Sort and cultivate donors into groups that help you reach your goals, FASTER
- Cut your research time by seeing MORE information in a comprehensive way
- Find donors in places you’ve NEVER looked before
- Be ahead of the curve and READY to adapt to any organization or campaign changes
We hosted a webinar last week to show off this exciting feature. You can watch the webinar recording here to see iWave’s Multi-Lens Scoring in action.
Let’s take a look at some of the questions from the webinar below:
Q: Does multi-lens modeling work for wealth screenings or just individual record lookup?
It works for both! When you enable multi-lens it can be applied to a profile or a screening.
Q: Can you customize the multi-lens categories or are they pre-set?
In addition to your primary lens, you get up to five additional lenses that can be customized as you like. The only thing that is pre-set is the affinity categories. You can select the affinity that best reflects the current giving interest that you are prospecting for, and you have the option to choose a secondary affinity to round out your organization’s giving interests. Your capacity ranges, and how you weigh them are totally customizable.
iWave clients typically set up their customized capacity scoring preferences to meet their major gift needs. A lot of the time, they don’t engage with their lower capacity donors because they are prioritizing their pipeline for major donors, capital campaign donors, and planned giving donors. iWave’s Insights feature compares a donor’s internal giving (RFM Score) with their external giving (iWave Score) to identify individuals with high capacity that can be giving more to your organization.
Now, with iWave’s advanced Multi-Lens Modeling you can set up lenses for different giving levels (e.g. annual appeals) to quickly identify top prospects that can be giving more to you at each giving level, not just major gifts. And because it’s so easy and quick, you can still prioritize your time on your major gift pipeline while also increasing gifts for your annual appeal.
You can set up a customized lens for low-capacity donors like Annual Donors, that have lower capacity ranges than your primary capacity settings. Once you screen your donor list, you can use iWave’s easy-to-use filter function to identify donors with a low capacity score (ones you may not have had time to review in the past) and view them under your Annual Appeal lens to see who can be giving more to you. For top prospects, you may want a more personalized message, or you can also just increase your ask in a mass email or mail campaign.
Q: Is there an info sheet available on how iWave defines each affinity?
In order to give our clients a better picture of the nonprofit landscape, iWave has condensed the US NTEE classification system and the Canada Revenue Agency’s not-for-profit classification codes into a single, unified Affinity map. You can find iWave’s Affinity Guide on our support site here.
Q: Where can I learn more about Cultivation & Engagement?
iWave’s Predictive Analytics uses advanced algorithms to deliver 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. You can find more information about iWave’s analytics here.
Q: Can I apply this tool to previous screenings?
Yes, absolutely! This feature is retroactive, so it will be applied to any of your previous screenings once you set your multi-lenses.
Q: Are you able to export the data of the different lens scores?
Yes! You can export the data of the different lens scores. This is very helpful if you are testing out different lenses because you can export and save the data from one lens, and then change it without losing the information.
Q: Does this feature work in Canada?
Absolutely! This feature is available to our Canadian clients. If you are a Canadian nonprofit and want to know more about using iWave, check out our blog post here.
Q: Is there information on multi-lens screening that I can share with my team?
Feel free to share our Multi-Lens webinar recording with your colleagues, or check out our blog post or flyer for more information. And, for iWave clients, please reach out to your account rep if you have any questions or you’d like to learn more!
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