ExactAsk recently participated in Ideagen’s second Global Good Summit in Seattle. The summit hosted leaders and companies discussing a wide range of topics including education, global health, technology, and the workforce. Adam Treiser, the CEO of Arjuna Solutions, which makes ExactAsk, participated in a panel about big data and nonprofit organizations. The panel focused on technology and evaluating campaign impact and success.
About the Summit
This year’s Global Good Summit’s focus was the United Nations Sustainable Development Goals. More specifically, the focus was on Goal #17, “Revitalize the global partnership for sustainable development.” The targets center on cooperation between governments and the private sector. With this in mind, the Ideagen summit included talks and panels about cross-sector innovation, impact leadership, and collective impact.
The summit brought together industry leaders from private sector companies, nonprofits, and public companies in order to discuss collaboration and cooperation that can lead to large-scale solutions for widespread problems. These leaders included Maurizio Vecchione of Global Good and Research at Intellectual Ventures and Dr. Martha Bernadett, founder of The Molina Foundation, among many others.
ExactAsk is a tool that uses big data in order to help nonprofits optimize their fundraising efforts by improving the accuracy of their ask amounts, thus increasing the likelihood of receiving the best possible donation from each potential donor. Nonprofits have always faced the problem of what ask amount to include in communications with potential donors. If you ask for too much, you run the risk of not receiving a donation at all because the donor thinks the small amount they would be able to give isn’t enough to make a difference. Conversely, if you ask for too little from a donor who would be willing to give more, you’re leaving money on the table.
The ExactAsk program uses predictive analytics to determine exactly what amount to ask of every individual donor. This helps nonprofits bring in larger donations as well as increasing the number of donors, raising their fundraising total as well as their donor engagement. ExactAsk is creating solutions that use big data to improve upon primitive old systems that have been hindered by significant limitations.
Predictive Analytics and Global Good
ExactAsk is integral to the goal of using big data and predictive analytics to increase charitable efficiency and improve the world. Specifically, ExactAsk is capable of completely changing the way nonprofits raise money. Nonprofits that use ExactAsk are able to individually target their donors based on the specific donor’s history with the nonprofit combined with the knowledge gained from big data. This automated process reduces the amount of time and effort nonprofits have to spend on fundraising, freeing them up to focus on what really matters and work to accomplish their organization’s mission.
On a wider scale, ExactAsk’s concepts can be applied in many ways. Using big data and machine learning can help us improve on any number of major problems. Predictive analytics can help eliminate guesswork on behalf of marketers in every sector, helping to save money, time, and effort as well as communicate more effectively.
Do you use a direct mail fundraising strategy? Find out how predictive analytics can boost direct mail results. Contact us today.