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Enhance Your Nonprofit Fundraising with Wealth Intelligence in Salesforce

For nonprofit fundraisers, the interests of the ultra-wealthy matter. Leveraging wealth intelligence using the Wealth-X plugin for Salesforce can help them create more effective fundraising campaigns.

The global billionaire population rose by 3.3% in 2021 to 3,311 individuals. This was the third successive year of expansion. “Major giving” and “principle giving”—nonprofits’ largest individual donations—are concentrated among this ultra-wealthy community.

Using the Wealth-X plugin for Salesforce, nonprofits can leverage strategic intelligence about the ultra-wealthy to secure their next biggest donor. With wealth intelligence data embedded into their workflows and accessible through their CRM, fundraising teams can find likely donors faster, understand who they are and what drives them, and identify the best ways to connect with them—all without leaving Salesforce.

In this article, we demonstrate the urgent need for engaging the ultra-wealthy and why the Wealth-X plugin for Salesforce is an ideal tool for discovering and engaging these individuals. By creating contextually relevant communications, nonprofits can make lasting impressions that drive results.

Trends impacting philanthropy habits among the ultra-wealthy today

Ultra-wealthy individuals are defined by having $30 million or more in total net worth. Their variety of interests, their propensity to donate, and the myriad of priorities that take up their attention mean the ultra-wealthy are more difficult than most donors to engage, let alone inspire to give.

Growth in the billionaire population

Fortunately for nonprofits, the number of ultra-wealthy individuals is growing quickly—”in absolute terms, the billionaire population has expanded by over 50% since 2012,” according to Altrata’s 2022 Billionaire Census. Over the next decade, the world will witness the largest transfer of intergenerational wealth in its history as well. “This will boost the number of ultra-wealthy heirs and those whose fortunes derive from a combination of inherited and self-made wealth,” according to Wealth-X’s Philanthropy Report.

The desire and pressure for the ultra-wealthy to give

The ultra-wealthy already play a substantial role in charitable giving worldwide totaling $175 billion given to philanthropic causes in 2020, according to Wealth-X.  But society’s expectations of this cohort are growing alongside an increase in need and inequality. Across global populations and institutions, there is a perception that the ultra-wealthy should be giving more.

In turn, an appeal for civic engagement is growing among diverse, younger wealthy people. Ultra-wealthy under the age of 45 tend to be more passionate about causes which they are both financially and practically involved with, Wealth-X reported in 2019. The challenge for nonprofits is to reach these individuals and tap into this generosity and activism successfully and efficiently.

Why Use the Wealth-X Plugin for Salesforce?

  • Wealth intelligence in Salesforce allows you to better understand your network.
  • With Wealth-X in your CRM, you can see the net worth of donors and prospective donors; you can understand whether they have the capacity to give more.
  • One nonprofit screened its data against Wealth-X data and found they had multiple ultra-wealthy donors who were giving only $100 each year; the nonprofit was able to substantially increase their giving using more personalized outreach.

The pursuit of the ultra-wealthy, and why they matter

Nonprofit fundraisers must understand the interests of billionaires to help tailor their outreach and fundraising campaigns. Within the context of outreach, knowing an individual’s genuine interests allows organizations to approach them in ways that are both emotionally relevant and unique. Nonprofit fundraisers who understand the interests of the ultra-wealthy can engage them in a way they know will drive results.

But nonprofit fundraisers often struggle to identify ultra-wealthy individuals, their characteristics, and their interests given the shortcomings of their existing data resources. This is where wealth intelligence can help.

Wealth intelligence is data on the ultra-wealthy that helps organizations target them, engage them, and convert them into donors. This data includes net worth, biographical information, lifestyle preferences, and philanthropic giving history, personal connections and more. Nonprofits who can leverage this data as part of their everyday workflows— identifying relevant ultra-wealthy individuals and understanding what moves them to give—can become more streamlined and targeted in shaping their campaigns, working within their familiar Salesforce environment as they do so.

6 steps to using wealth intelligence within Salesforce

The following is a step-by-step process demonstrating how non-profit fundraisers can enhance their fundraising efforts using wealth intelligence. Without leaving Salesforce, fundraisers can build more meaningful engagement strategies for donors that drive investments from the ultra-wealthy community.

1. Access your Overview page / Dashboard within Salesforce

Upon accessing Salesforce, users are brought to their Overview page (i.e., the “Dashboard.”) This is Salesforce’s default landing page where users can access different features and data sets. Nonprofits who have adopted the Wealth-X plugin for Salesforce can access it here.

2. View Details / Matched Profiles / View Individual Records based on new data and screenings

Upon accessing the plugin, users can view the details of ultra-wealthy matches that have been automatically generated and updated based on Wealth-X’s data and screenings.

3. Check Related Objects for contextual information on your donor and prospect base

Users can view related contextual information about donors. Contextual data gives users a more complete picture of an individual’s wealth, interests, giving history, and other factors.

4. Use Match Management to confirm or update your existing data in real time

Wealth-X’s “Match Management” feature in Salesforce allows users to confirm or update their existing data in real time. This way, users always have the most accurate information on hand.

5. Use Advanced Search to identify new prospects based on highly granular details and understand their known associates to grow your donor base

Users who want to identify new ultra-wealthy prospects can do so through the plugin’s “Advanced Search” feature. This feature allows users to search for prospects based on highly specific details, such as net worth, location, age, and more.

6. Import those contacts with their contextual information into your existing Salesforce environment

Finally, users can import new wealth intelligence data, including new profiles of individuals, into their existing Salesforce environment. This allows users to keep all of their data in their own, centralized location, and incorporate it within their existing workflows.

Nonprofit fundraisers can start with an initial screening of their database against that of Wealth-X to learn more about ultra-wealthy individuals whom they already know about or with whom they already have a relationship. Then, nonprofit fundraisers can use contextual data from Wealth-X about entirely new contacts to tailor new outreach campaigns. This way, they ensure the accuracy of their database, grow their available profiles, and expand their reach.

Get Wealth-X now on Salesforce AppExchange

Maximize your outreach efforts and your relationships with the ultra-wealthy. Visit Wealth-X on Salesforce AppExchange today. Or, learn more about how to use wealth intelligence data within Salesforce by signing up for a free, personalized demo.