Adam Treiser wanted to do something to make a difference in the world. A lawyer by training, he was unsatisfied with the work he was doing, so he immersed himself in artificial intelligence. He developed a way to help nonprofits optimize the ask to every donor.
If you ask a donor who is willing to give you $250 for $25, you’ll likely get the $25. On the other hand, if you ask a donor who is ready to give you only $50 for $250, you’ll likely get zero! Knowing just the right ask is a game changer.
Using only information that you already have, his company, Arjuna Solutions can help you increase donations from your existing donors. Their experience to date suggests a first-year bump of 19 percent and a second-year increase of 72 percent.
Interview with Adam Treiser, the Founder and CEO of Arjuna Solutions.
The following is the pre-interview with Adam Treiser. Be sure to watch the recorded interview above.
Revenue model: The value of artificial intelligence – or any intelligence – is in the ability to make better decisions. Arjuna enables nonprofits to realize the benefit of AI by selling each decision for a few cents each. For example, if a nonprofit is sending a direct mail campaign to 100,000 donors, it will purchase 100,000 ExactAsk ask amounts from Arjuna. This means that nonprofits get the benefit of AI, without any capital expense, lengthy subscription fees, and no setup, maintenance, or data fees.
Scale: Nonprofits using ExactAsk raised more than $250 million in 2017 across more than 570,000 donors. Since 2016, Arjuna has produced nearly 20 million ask amounts, generating an average increase in donor lifetime value of 19% within 12 months and 72% within 24.
What is the problem you solve and how do you solve it?
Arjuna solves the problem of how to maintain the value of individual donor relationships. While most nonprofits have employees that manage major givers and cultivate those relationships over time, it simply is not cost effective to do that for the millions or thousands of non-major givers. By using artificial intelligence, Arjuna enables nonprofits to apply the same personalization methods of major giving to its database of donors.
Learn More: www.exactask.com
More about Arjuna Solutions:
Arjuna Solutions is an artificial intelligence company specializing in consumer pricing. The firm’s ExactAsk Platform was specifically developed to enable nonprofit organizations to determine individually optimized price points for individual donor solicitations that optimize Donor Lifetime Revenue while retaining patrons.
During the past two years, Arjuna’s ExactAsk Platform for individual giving optimization has produced more than 18 million individually optimized “Ask Amounts” for nonprofit organizations to use in individual donor campaigns. These precision ask amounts have generated an average uplift in donor revenues of 19% within first year and 72% in the second year.
Arjuna’s clients typically experience three operating benefits with ExactAsk including:
1. Faster response rates to solicitations
2. Improved levels of participation from donors and most importantly
3. Increased giving that are correlated to the amount requested of the donor.
These benefits substantially increase revenue for nonprofits while also multiplying the value of donor relationship management platforms like Salesforce, DonorPerfect, Constant Contact, and others by applying AI to the data those systems collect.
Nonprofits purchase ask amounts for a few cents each. There are no capital costs, no subscription fees, consulting fees and no maintenance, set-up fees or data acquisition costs.
On average, ExactAsk increases the lifetime value of a donor by 19% within 12 months and 72% within 24 months.
The technology is employed in a wide variety of fundraising campaigns categories when executed through direct mail and email solicitations including: Acquisition, Renewal, Upgrade, Lapsed, Recurring, Special Appeal and End of Year Campaigns. There is minimal change to existing fundraising workflows, providing maximum efficiency in adopting the technology.
Adam Treiser, Founder/CEO of Arjuna is a distinguished professor of Decision Sciences at the Johns Hopkins University Whiting School of Engineering. He was recently commissioned to deliver the Keynote Address at the United Nations Conference on Human Horizons covering the subject of “ A.I. for Humanity”.
Arjuna Solutions was also named one of the Top 25 Machine Learning Companies of 2018 by CIO Apps Magazine.
Adam Treiser’s bio:
Adam Treiser is founder and CEO of Arjuna Solutions, and professor of analytics and decision science at the Johns Hopkins University. Adam regularly speaks about artificial intelligence and how it can be used for good. He recently delivered the keynote address at the United Nations on the topic of “AI for Humanity”.