For most important decisions, we seek out multiple data points and opinions. This same approach can be useful for our business processes. I often hear that a prospect or client is already using a product that has predictive modeling embedded in it. However, you aren’t stuck with only using that model. Using a supplemental scoring method can help move you forward. Here are some ideas along those lines:
- Consider patient satisfaction: For healthcare, affinity to your cause is likely driven by the patient experience and outcomes. Sometimes, sorting filters are applied to census data to eliminate certain diagnoses and other factors such as words that denote a negative experience, prior to screening. You can move beyond these simple sorting methods and utilize a model that will predict patient affinity. For example, a Brightway client recently used artificial intelligence (AI) to analyze patient records for patient satisfaction indicators. The goal was to use this technology to screen patient records to determine the connection between patient satisfaction uncovered through the AI searches and compare that to donor activity. The results showed that those patients with high AI indicators of satisfaction and had donor activity also had high Brightway Donor Giving Scores. This makes the Brightway Giving Score an economical and sensible supplement to approach affinity without the complexity of AI processes.
- Think about order: Creating order in your organization’s workflow improves fundraising results, staff satisfaction and positive outcomes such as driving community connections. Your current process may be returning a list of prospects based on wealth. But wouldn’t it be great to also know which of those prospects will likely engage with your gift officers? By using a supplemental score to create a priority rank for your major gift officers, you can help sort their work lists. Gift officers are faced with knocking on many closed doors before getting one to open so the power of knowing who is interested will improve their job satisfaction and performance.
- Act on what you are missing: A recent study we commissioned coupled with client data shows us that about 25% of a typical patient census with wealth estimates of less than $1 million will have an interest in your cause. However, your existing model might be “missing” these prospects. Although you might be less inclined to invest in some of the segments with lower expected donations, open your mind to new approaches that make this prospecting cost-effective such as enrolling them in email campaigns.
- Educate more: Our recent consumer survey showed that roughly 60% of recently discharged patients were not well informed about their hospital’s foundation. This shows that there is a gap between your patients and the foundation. It is critical that you share your mission will all interested parties within your community and not just wealthy donors. As stated before, by using a supplemental score, you can increase your foundation outreach to more patients with an affinity to your mission and your community. Don’t overlook this opportunity to educate patients on your important work.
We know that it is important to use more than one score because they are built to provide answers to different questions. Engage new technologies to improve your business processes and involve more interested parties in your mission.