Insightful Analytics: Enhancing American Red Cross’s Planned Giving ProspectingLike most non-profits, the American Red Cross (ARC) has limited funds to devote to marketing its Gift Planning (GP) unit. Therefore, efficient marketing and lead generation is crucial o their mission to be effective stewards of their donors' generosity.
BKV created and implemented several direct response mailings for ARC's GP unit. Targeting strategy for these mailings was based on heuristics and hypotheses. Though BKV's direct mail campaign for ARC was successful, ARC approached BKV with a question: "How can we market smarter?" So, we set about to increase the efficiency and effectiveness of our ARC mailings by identifying high-quality prospects. Enter BKV Analytics. By combining donor demographics and giving history with behavioral and psychographic data, BKV was able to create predictive models. These models identified key factors that contribute to prospects’ likelihood to respond to ARC’s direct marketing activity. BKV Analytics was then able to identify the best prospects with whom to engage and, in turn, who to mail. Our predictive model’s ability to identify high-quality prospects was proved out in recent ARC mailings. Both traditional and modeled prospects were targeted: 63% of the direct mail pieces were issued using only traditional targeting, 28% using only modeled targeting (these prospects would not have otherwise been targeted), and 9% using both traditional and modeled targeting methods. After all of the mailings were sent and responses collected, the modeled targeting segment outperformed the traditional targeting segment, yielding a 32% increase in response rate.
Additionally, the ARC’s GP unit is now using BKV's modeling results to engage with planned giving prospects they may not have otherwise engaged with. Interested in learning how BKV Analytics can help you market smarter? Contact us today!