MarketSmart in College Park offers the Fundraising Report Card, an analytics platform supporting nonprofits with feedback on the success of their fundraising efforts.
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Kindsight iWave
Score 9.0 out of 10
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iWave offers their nonprofit fundraising intelligence platform, for performing prospect research online with VeriGift, the company's donor and donation database.
iWave is a great resource for getting a big picture understanding of a donor and their potential alignment to your organization. There may be times if you are wanting to dive deeper into a particular facet of the donor profile that you would need to continue researching through other sources. Overall iWave has a user-friendly interface and is a must-have program for any prospect researcher.
It makes preparing fundraising reports super easy. I used to spend 6-8 hours preparing a board report and now it takes me 30 minutes... PLUS I can pull up the reports in real time during board meetings to allow board members to see the data presented in different ways or to answer questions on-the-spot.
It has metrics that I've never even thought to prepare - including some that always felt too complicated to prepare. Lifetime Donor Value, Donor Retention Rates, Lapsed Donors, Acquired Donors, Reactivated Donors - all broken down by giving segments.
I can customize Giving Segments. I work at a small non-profit - a major gift for us is different than a major gift for a larger organization. I can break up my data in the segments that make sense for my organization [and select colors that match our branding... you've never seen a happier Marketing Chair on your Board of Directors than when you give them a report that is properly branded for the organization. It's a small thing, but it doesn't take any extra work on my part.]
iWave is very user friendly. It did not take long at all to figure out the most efficient way to use their website. There are many Training Webinars and a support center. Customer Support is very helpful.
The credits you purchase are only used if you use a batch screening. Individual screening is unlimited.
We have found that the information discovered in iWave about our donors is up-to-date and accurate.
The Foundations/Charities search function is particularly helpful. You are able to see the financials, 990s, grants awarded, and the people connected to the organizations all in one place without having to search the internet.
The only difficulty I have with Fundraising Report Card is that the integration with our CRM [Kindful] doesn't keep track of the unique ID that is exported to Fundraising Report Card [to maintain confidentiality]. So it takes a bit more work to identify which donor[s] fall into a category. For example, Fundraising Report Card will tell me that 3 major donors lapsed in the previous quarter - and I can export the Donor ID's from Fundraising Report Card, but those ID's don't mean anything in my CRM, so I can't directly see who those donors are to follow up. This is an issue with the integration specifically with Kindful.
The biggest piece of missing functionality has been data integration with Raiser's Edge, but iWave is working feverishly with Importacular to make that an option for users as well. I expect that process to be more user-friendly in the next year or so.
I love that iWave is always adding new data sources to their 360 Search with Database USA being the newest piece. I hope the "COMING SOON" section of that data source will be populated soon.
I think it's very usable, but think the variety of different search functions, search by features can get confusing and overwhelm the user. I would prefer a "master" search function instead of having the user need to figure out to search by company name, employee's name, employee's title, etc. The website is a great resource and my team utilizes its uses often.
iWave customer support is more responsive than most software platforms I currently use. My requests are always handled promptly, and support is incredibly responsive, friendly, and patient. Plus, I can always get someone on the phone immediately if I need a problem resolved right then and there. In addition to the live and personal support, the iWave knowledge base is frequently update with new content, including video webinars that help you become a more powerful user of the software.
W e originally selected iWave because w e believed the return on our ROI would happen faster than it would with Donor search. Looking back, I wish we had realized that is kind of how it goes with major giving in general. We also didn't have a system the linked to DonorSearch at the time and iWaves reports pulling seemed simpler for our database type.
While I don't think I can entirely quantify the ROI for Fundraising Report Card, it made it possible for us to make better decisions and set better goals. Before we had this tool, we either spent way to much time analyzing data in spreadsheets [trying desperately not to make mistakes] OR more often, made strategic decisions without the facts to back us up. Our fundraising efforts are much smarter than before, and we KNOW where are areas of concern lie.
We don't have to guess whether or not our strategies are working. We know.
Every year following our annual gala we run a list of all event attendees to learn more about their interests and giving history. This has led us to new board and/or major donor candidates.
iWave helps us understand details and less-known interests of our current donors, which helps us with donor stewardship. In today's digital age, these personal details help craft relevant stewardship and communications plans with our existing supporters. With so many competing charities, these small differences can account for a supporter to choose your organization over others who aren't making that personal connecting to the donor.
