A key part of nonprofit work is getting to know your donors. Prospect research tools are invaluable in this regard and can help charities highlight their most important donors, increase conversions, and optimize their campaigns.
DonorScape and WealthEngine are two of the biggest and best-known prospect research tools. But how do they compare?
DonorScape vs WealthEngine: check out our head to head to see which is best.
DonorScape provides nonprofits with a suite of prospect analysis tools developed from its 50+ years of fundraising best practices and research. By combining donor behavior analysis and data, DonorScape provides accurate ratings of potential donors that charities can use to achieve their goals.
DonorScape’s clients come from all sectors and range in size. That means any nonprofits that want to get to know their donors and increase their fundraising will find DonorScape useful.
WealthEngine also offers a comprehensive solution for nonprofits serious about getting to know their donors and prospects. The WealthEngine 9 platform has half a trillion data points and uses machine learning to develop and pre-score 250 million profiles that get more than 5 million refreshes every week. Those detailed insights can fuel your fundraising campaigns.
Again, nonprofits in every sector can make use of WealthEngine. Even commercial companies in finance, real estate, and retail use the platform to supercharge their campaigns.
DonorScape vs WealthEngine: The key features
DonorScape offers a suite of tools to help with your donor analysis. One of its products, SurveyLab, helps charities get insights into what matters to their constituents. With the Wealth Screening tool, you can pair your donor data to public databases so you can get a better idea of someone’s capacity to donate.
DonorScape’s Predictive Modeling tool helps you find the best potential donors using premium third-party demographic information. Its Portfolio Analysis allows you to better allocate donors and prospects among your staff and make the most of every gift. List Acquisition helps you get a brand-new list of prospective donors based on your specific needs.
WealthEngine also has many features designed to help you succeed. The platform gives you access to more than 180 million U.S. household records to help you find, save, and sort potential donors.
Use wealth and lifestyle data to understand what your targets are able to give and what motivates them to donate, then personalize your campaigns accordingly. You can prioritize targets while using WealthEngine’s algorithms to automatically find similar prospects.
Users of DonorScape regularly highlight the quality and depth of data they get as huge benefits of the tool. It’s also user friendly and accessible to anyone within an organization — from frontline employees to executives.
This is something nonprofits should look for, in particular, writes Laura MacPherson at fundraising software provider Network for Good. “Functionality varies widely from one fundraising software [system] to another,” she explains. “Some fundraising software systems primarily serve as databases, while others allow you to create and run multichannel fundraising campaigns from the software. Ease of use varies as well.”
One problem that some users have found with DonorScape is its support function. Some issues have gone unresolved and impacted business processes, but it does appear support is improving.
WealthEngine users also regularly list the level of data and detail as one of the best things about the platform. The training resources provided by the company and the layout and design of the platform are also positives. The number of integrations with CRMs is another reason users give WealthEngine high marks.
On the negative side of things, the price of WealthEngine is a concern — so much so that smaller nonprofits may not find value in the tool.
Jotform: An alternative to DonorScape and WealthEngine
When you’re looking at DonorScape vs WealthEngine, you may find that neither platform is the best choice for your nonprofit. If you’ve already got the research and donor contact portions under control, then Jotform may be a more cost-effective alternative that gives you everything you need to collect those donations.
With Jotform, you can collect contributions directly from your donors by using online donation forms that integrate with over 30 payment gateways without any added fees for the transactions. And you can manage all data related to donors and donations in a cloud-based table with Jotform Tables, which you can access anywhere and customize to your liking.
Payment processing is one of the main features that the team at FundraisingIP.com recommends you carefully review when choosing fundraising software.
“Some companies offer their own payment processing services that integrate seamlessly with their fundraising websites, and others let you choose your own preferred partner (such as PayPal),” they write. “Be sure to find out what options you have, and evaluate merchant services criteria.”
The great news is, you don’t need to be a CRM expert to get started with Jotform. Both the forms and tables are intuitive, and there are ready-to-use templates to get you up and running fast. Try Jotform today and get a 50 percent lifetime discount for your nonprofit.