Written by Brian Rakovitis, Manger of Financial Empowerment Initiatives 

Data is merely a four letter word, but it can cause any organization a great deal of anxiety. Regardless the size of our organizations — from nonprofits to large corporations, from small businesses to trade associations —  it’s likely we all stress over the type of data we collect; does it demonstrate the change we are seeking?

Financial coaches and counselors face the same question, as there are a myriad of data options available to us. The data most commonly tracked includes changes in credit scores, debt levels and savings. Managing this data can be overwhelming and time consuming for financial coaches and may not fully inform us of our client’s needs.

CEDAM recognizes that accessible, client-focused data is necessary to develop meaningful services. At this year’s Destination: Vibrant Communities & Financial Empowerment Summit conference, speakers Hallie Lienhardt and Marshall Averill will tackle common barriers financial coaches and counselors often face when it comes to tracking data.

In their session, Metrics that Matter: Standardizing Financial Coaching Client Data to Better Track Program Outcomes, they’ll offer insights on the state of the financial coaching field, introduce the Financial Capability Scale and discuss how your organization can utilize customer relationship management (CRM) platforms, like Salesforce, to improve program effectiveness.

Hallie Lienhardt is the Outreach Specialist for the University of Wisconsin-Madison Center for Financial Security. Her background in community development planning and housing helped her to work directly with families facing foreclosure and economic difficulties. Lienhardt was a key partner in developing the 2016 Financial Coaching Census and will provide an overview of the Financial Capability Scale and how your organization can utilize this simple survey.

Marshall Averill is the Financial Stability Program Manager at United Way of Washtenaw County (UWWC). Marshall is a financial coach and has developed UWWC’s own CRM platform to manage their financial coaching and Volunteer Income Tax Assistance (VITA) program data.

“By using a CRM platform, we are able to gain useful insight into our clients,” Averill said. “This insight allows us to better understand how clients progress through their journey to financial mobility. Using data to drive our programing means that we are able to help more individuals realize their financial goals.”

If your organization provides financial coaching and counseling, or you are thinking about incorporating this into your body of work, join us at the Metrics that Matter session. You will leave feeling confident in your knowledge about the kind of data you should be collecting, and how you can use that data to improve your services.  

View the draft agenda and register for Destination: Vibrant Communities & Financial Empowerment Summit.