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I hear inspiring stories each week about how charities are multiplying their planned gifts, despite the economy. In the next two months, I plan to share these stories of organization who have found new ways to market smarter, better and more effectively. I want to share their best strategies and the ideas that have shaped their planned giving programs. I hope that you gain new insights from these successful charities as you consider your organization's planned gifts marketing efforts for 2012.
Kristen Dugdale, Vice President for Gift Planning at the University of Colorado Foundation (CU), was one of the most popular speakers on bequests at the 2011 Practical Planned Giving Conference (PPGC). I had the opportunity to talk with Kristen this week about the growth of CU’s bequest program.
Kristen said that a lot of what CU has done is to try to increase the profile of bequest giving on campus and with alumni. Most organizations receive the majority of their planned gifts in the form of bequests, but few organizations are out talking about bequests. For a long time, CU thought that if it could equip its development officers (who are out talking with donors on a daily basis) to discuss bequests, this would multiply bequests for CU.
Kristen talked with me about how she made the case for bequest giving with upper management at CU. She started by tracking when existing bequests were going to mature based on life expectancy. She was able to institute a regular report with the bequest pipeline to give the organization a solid visual of bequest expectancies. When she explained the impact of bequest giving to CU by showing that bequests were actually 10-11% of the organization’s business, the President of the Foundation was sold.
Once CU’s senior management saw the value of bequests it began to set goals for development staff to enter into the bequest discussion. Staff members were encouraged to begin requesting copies of the wills of those who made bequest commitments. They typically explain to the donor the importance of verifying that will language is appropriate to ensure that the donor’s wishes are carried out. They created a full package for the donor with information illustrating how their gift would be used.
As a result of this enhanced marketing effort, CU increased bequests by 700% in the first year of marketing. In the first year CU booked 25 million in bequests and 33 million in new bequest intentions the following year. Bequest giving never makes the Denver Post –but this story was so big for CU even the Post picked up on the bequest commitment increase of 700%. Kristen was not only encouraged by the good press but also the fact that upper management increased her bequest marketing budget!
Kristen told me that CU now has a $17.3 million estate pipeline coming through for the Foundation. She regularly reports on distributions from the pipeline to provide ongoing support for her case that bequests make a difference. The Dean and President of the University now also talk about bequests, because they see how important bequests are to CU.
Making bequests a priority for the organization is key to the success of your bequest program. Because so many institutions don’t focus on revocable gifts, your organization can miss out if it's not talking about bequests. To learn more about creative strategies for marketing bequests to your donors, call 1-800-858-9154 and ask to speak to a marketing specialist.
In my last post, I discussed ways to market bequests using primarily print marketing efforts. In this post, I want to touch on how to integrate these efforts with your web, email and social media bequest marketing.
A growing number of your planned giving donors (boomers and seniors) are using websites and social media to obtain information about your organization that influences their giving patterns. How well you integrate your website with all your other marketing activities will impact the success of your future campaigns.
Marketing expert Karen Marchetti has a lot to say about tying together all of your marketing efforts in a campaign. She recommends that organizations set up a landing page every time they launch a new campaign. Karen says that your landing page should repeat the messaging and the design “look” from your print campaign.
Your web marketing for bequests should match your print marketing pieces in look, colors and feel. When people view your website, it should trigger their memory of your postcard on bequest giving and vice versa. Similarity and repetition will help reinforce your bequest marketing message.
Karen says it is also important to feature your campaign messaging and integrated design on your homepage. While you may have secondary web pages dedicated to bequest or gift annuity marketing, make sure to advertise these gift opportunities through links, hyperlinked images and message boxes on the front page of your planned giving website. Also drop images on Facebook from web and print marketing pieces as reminders to fans of your efforts and a way to drive supporters to your site during the campaign period.
Remember to include short URLs on all of your marketing pieces to bring readers directly to your campaign landing pages and homepage. You can create special URLs that drive users to information and action items relevant to your campaign. For example, some organizations will want to take users directly to bequest language. Others will engage readers by dropping links on social media to downloadable forms where donors may acknowledge bequests and join the organization’s legacy society.
Whether you are going to begin your 2012 marketing focused on bequests or gift annuities, integrating your efforts will enable you to reach the most comprehensive group of supporters. For more strategies on integrated planned gifts marketing, call Crescendo at 1-800-858-9154 and ask to speak to a marketing specialist.
I recently read an article written by fundraising guru Jerry Panas on the topic of bequest marketing. Panas offered a number of simple ideas for making the bequest ask. To do this, he recommends that charities create a multi-channel, systematic messaging process.
Here are some of Panas’ ideas that might be adopted for your organization’s bequest marketing efforts:
Send a letter once a year to everyone on your mailing list inviting them to make a bequest to your organization. Panas says that the best marketing pieces focus on how bequests impact the mission of the organization. So, don’t be afraid to contact donors and ask them for permission to share their stories. Also, add images of your work to illustrate how giving can help your organization accomplish its purpose.
Every publication produced by your organization should include at least one bequest marketing piece Panas says. This makes sense when you consider that over 90% of planned gifts are bequests, according to research by Target Analytics, a Blackbaud Company. Because bequests are the most popular and often easiest planned gift to make, they should be marketed regularly and in a way that Panas says “will attract attention.”
Include a postscript in all gift acknowledgement and substantiation letters with a standard bequest message. For example, Panas suggests this language: “Another way to strengthen our service to this community is a charitable bequest. Please remember us in your will or living trust.” This short and simple two sentence message is used as a way to attract attention and encourage bequest giving.
Standard bequest language should also be included in fundraising brochures and literature, as well as planned giving websites. Panas suggests standalone phrases that encourage bequests such as “Remember us in your will or living trust,” or “A charitable bequest is an excellent way to create a lasting memory.” Including phrases like these reminds your readers that bequests are just another way they can benefit and help your organization continue its work.
While it’s important to include bequest language in your print marketing, all of your marketing must be integrated. This means that your print marketing should match (in colors, look and feel) and work together with your web, email and social media marketing. In my next post, I will discuss the importance of integrating your marketing activities for maximum effectiveness.
To learn more strategies for marketing bequests, call 1-800-858-9154 and ask to speak to a marketing specialist.
This is my second post on building a professional advisory committee for planned gifts. I wanted to share with you more ideas on how to build your own advisory group based on the thoughts of expert fundraiser Diana Dunbar, Development Director of the Ventura College Foundation in Southern California.
Since professionals who are committed to your cause can also be helpful in connecting you with potential donors, building an advisory committee is a great way to grow you planned giving program. Once you have identified professionals who may be interested in getting involved with your organization, you need to make contact and “make the ask.” Here are a two more ideas from Diana:
Make Contact – Once Diana has identified a prospect, she will usually call and ask if she can schedule a meeting. She will begin by identifying herself, tell them that she would like to discuss the work of the organization and always note how a relationship may be of help to them (i.e. help them grow their client base). She is always clear that she will stay for no more than 30 minutes and she sticks to this promise.
Visit and “Ask” – During her visit, Diana provides the advisor with the organization’s latest report or a simple gift. She explains that she is starting a committee of advisors and emphasizes how his or her participation could help the advisor and the organization.
At the end of a visit Diana says that she can usually assess the advisor’s level of interest. Some individuals are willing to commit right away while she will follow-up with others who are receptive at a later date.
One way to encourage advisors to get involved with your charity is to give them a platform to share their expertise. You might consider inviting an attorney to speak to your donors on wills or estate planning or a life underwriter on insurance arrangements. For more ideas on building your professional advisory committee, contact Crescendo at 800-858-9154 and ask to speak to a marketing specialist.
I recently heard Diana Dunbar, Development Director of the Ventura College Foundation speak about building a professional advisory committee for planned gifts. Building a group of professionals who can advise and counsel you on the intricacies of a particular gift is important to your credibility with donors, particularly the more sophisticated donors. Professionals who are committed to your cause can also be helpful in connecting you with potential clients who share their commitment and are willing and often eager to make planned gifts.
Here are two ideas from Diana on how to build a professional advisory committee for your organization:
Identify Prospects– Many professional groups in your community meet on a monthly basis. Plan to attend the local estate planning or CPAs luncheon and get to know professionals in your community. Obtain a roster from these groups and identify individuals with institutional interests, a prior gift history or connections that would make them valued members of your committee.Develop Strategy – You need to determine your communication strategy in advance of meeting prospective committee members. How will you explain your mission? The cause has to affect/impact the professional you are trying to reach or they won’t be interested. So, you need to think about each prospect individually and how you might appeal to their personal desires, business needs and goals.
Once you have identified your advisory committee prospects, you will want to begin making contact to “ask” for their involvement. Read my post next week for ideas on making contact and encouraging advisors to participate in your organization’s planned giving program. To learn more top strategies for reaching advisors and donors for planned gifts, call 1-800-858-9154 and ask to speak with a marketing specialist.
Planned giving prospects and donors are easier to find than you may think. The most obvious place to look is in your database. Individuals who have already made planned gifts to your organization are likely to make planned gifts again. In a prior post, I discussed the evidence of repeat gift annuities and bequests among donors who have already established life income gifts.
I recently met with a group of individuals that prospect for bequests from donors to major colleges and universities. Their strategy is to target annual donors (often alumni and family members of alumni) for planned gifts. This makes a lot of sense when you consider that individuals who have given consistently to you over a number of years have made an “investment” in your organization. They are among your best prospects for making a bequest or other testamentary gift because of their demonstrated commitment to your mission.
Your better prospects will be identifiable based on your institution type. For example, if you are a hospital or medical center, you will want to identify former patients, family members of former patients and others who have benefitted in the community from your services. If you are an arts organization, anyone who has joined your arts council, purchased tickets to a series or exhibits, volunteers regularly or supports your work would make for a good prospect.
What differentiates a planned giving prospect from any other donor prospect? A planned giving prospect will be able or willing to give you more than just a current cash gift. They will be open to engaging with you and building a relationship as part of an ongoing planning process. Good gift planners will tell you that these relationships develop into personal connections that often last for life.
The individuals you meet with for planned gifts will often have very specific lifetime goals. In a personal visit, they will open themselves naturally to a legacy gift through their conversation with you. As you build a relationship, you will have the joy and privilege of presenting ways in which your supporters’ dreams can be achieved, turning mere prospects into donors and lifetime friends.
To learn more about identifying your best donor prospects for planned gifts, call Crescendo at 1-800-858-9154 and ask to speak to a marketing specialist.
I heard a recent presentation by Marc Wilde, Director of Development for Livingston Memorial VNA. Marc shared with the group some of the challenges he faced when starting a planned giving program and how he made the case for planned giving at his institution.
Whether you are starting a new planned giving program or justifying the existing one to your CFO, Marc shared two good insights on how to encourage decision-makers to buy-in to planned giving:
Obtain the Support of Your Board
Your board members need to be on-board with planned giving. Because planned giving is not a familiar concept to most, it is important to educate your board members on the benefits of planned gifts. You want your board to not only understand why planned gifts can help your organization grow its annual income and endowment, but also be able to identify potential donors and begin the planned giving conversation. The new GiftCollege for Boards of Directors is a good resource for you as you encourage your board to think about offering planned gifts. Call Crescendo at 1-800-858-9154 to learn more about this training for your board.
Gain Expert Assistance
Marc shared that when he was making the case for planned giving to his CFO and board, he brought in someone from the local community foundation to talk about reasons why the hospital should offer planned gifts. It is often difficult for charities to understand why they should invest in a strategy that will not produce current income. Providing your decision makers with an “expert” can be helpful in explaining the successes of similarly situated charities with mature planned giving programs and projections for your organization’s future success. Consultants can also be useful in this process.
If you are thinking about getting started in planned giving or just growing your existing program, making an effective case to your decision-makers is key to your planned giving program’s success. It is important to point out that you can raise significant annual income through planned giving. Mature planned giving programs with a pipeline of gifts can generate 15%, 25% and even more than 50% of annual revenue from planned gifts.
If you need assistance with just getting started with planned giving or growing your planned giving program, Crescendo can help. Call 1-800-858-9154 and ask to speak to one of our planned giving specialists who can help you craft a plan to meet your organization’s goals.
I hear inspiring stories each week about how charities are multiplying their planned gifts, despite the economy. In the next two months, I plan to share these stories of organization who have found new ways to market smarter, better and more effectively. I want to share their best strategies and the ideas that have shaped their planned giving programs. I hope that you gain new insights from these successful charities as you consider your organization's planned gifts marketing efforts for 2012.
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