Who’s Ready to Give? Let the Data be the Judge.
Warm prospects are already engaged with your mission in meaningful ways. These are your grateful patients, volunteers, petition signers, ticket buyers, alumni, and more. They’re more likely to convert to donors than cold prospects.
That’s the good news.
The bad news is that most warm prospects aren’t ready to give today. There’s a reason we call them “warm prospects” and not “hot prospects.”
That’s where data modeling comes in. It’s the powerful engine of a successful warm prospect program. It allows you to convert those prospects who are ready to donate (and often donors to other organizations already). It also allows you to recognize these people for their other contributions to your mission who aren’t ready to give.
Moore’s SimioCloud does this warm prospect modeling using machine learning to analyze vast nonprofit donation, demographic, behavioral, attitudinal, and other types of data, alongside your file to surface the top prospects.
Warm Prospect Modeling in Action
This approach is already working. One healthcare organization compared their warm prospect audiences who matched to SimioCloud data to those who did not in order to see how effective modeling is for their program. What they observed was significant: the organization’s grateful patient audiences who matched to SimioCloud generated 129% more gifts and 68% more revenue than the non-modeled group, while increasing ROI by 47%. A veteran’s organization also saw success, with SimioCloud-identified prospects delivering response rates 134% above the campaign average.
This has other benefits. As a marketer, you know where to spend your next dollar (or cut your last dollar). It’s by answering the question, “Who’s most ready to become our next donor?”. You also get more value from your top-of-funnel activity, turning supporters into givers. When you can compellingly demonstrate return on awareness-building programs, you can do more of them and more profitably.
A key is to strike while the proverbial iron is hot. A grateful patient ask from a hospital within 30 days of their first visit doubles the response rate of one sent one month later.
Giving financially isn’t for everyone — literally, since half of Americans don’t give financially. But some people who engage with you are raising their hands, ready to be called on. You can grow your donor base from your supporter base using accurate, nonprofit-specific data and predictive technology that continues to learn over time. The result? Higher revenue, stronger ROI, and a clearer roadmap to sustainable acquisition.
If warm prospect modeling is of interest to you, connect with a SimioCloud expert to discuss it further.
