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Philanthropy as a Customer Retention Tool 2008
Datamonitor, June 2008, Pages: 22
This brief explores the market for philanthropy and its viability as a customer retention tool for high net worth individuals
Philanthropy is growing worldwide. This brief presents the extent and characteristics of giving based on several important external studies, and proposes that wealth managers offering strong philanthropy services can retain their existing client base, and the children of those clients.
Scope
- Sets the stage by highlighting the extent of charitable giving in US, Europe and Australia (secondary research).
- Explores motivations for philanthropic giving.
- Summarizes 5 banks marketing of philanthropy services.
Highlights of this title
In the United States, charitable giving is on the increase due to the generosity of entrepreneurs. In 2006, charitable giving in the United States amounted to $289.5 billion, representing 2.2% of GDP, and an 11% increase on giving in 2005.
Smith Barney appeals to emotive reasoning, highlighting mutual benefits: 'Datamonitor all have personal reasons for giving to charity, but many of us give out of a common desire to share our good fortune with others. And while our generosity can certainly improve the communities in which we live and work, it can also help us financially.'
37% of European HNWs earned their wealth though entrepreneurship, according to Datamonitors Datamonitoralth Management Market Leaders Survey. The extent to which HNW individuals earned their wealth from business entrepreneurship ranged from 28% in the UK to 43% in Italy.
Key reasons to purchase this title
- Gain an overview of the state of philanthropic giving.
- Understand the motivations for and changing nature of philanthropic giving.
- Provides high level advice to banks seeking to use philanthropy as customer retention tool.
Customers who bought this item also bought
Planned Giving: A Guide to Fundraising and Philanthropy, 4th Edition
The Transformative Power of Womens Philanthropy: New Directions for Philanthropic Fundraising, No. 50
Charitable Giving Law Made Easy
The Tax Law of Charitable Giving: 2009 Cumulative Supplement, 3rd Edition
The Tax Law of Charitable Giving: 2007 Cumulative Supplement, 3rd Edition
High Net Worth - January/February 2007 Edition
The Tax Law of Charitable Giving, 2008 Cumulative Supplement, 3rd Edition
Philanthropy in a Flat World: Inspiration Through Globalization
Wealth: How the World's High-Net-Worth Grow, Sustain, and Manage Their Fortunes
High Net Worth - April 2007 Edition
The Developing Philanthropic Trend
High Net Worth - May 2007 Edition
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