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Your One-Page Guaranteed*-to-Work LegacyProgram (*Guaranteed-to-Work if You Have
GoodDonors and You Execute the Plan withCopy, Stories and Design)
Sean [email protected]
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Welcome
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Commercial in confidence ©ParetoFundraising 2012
A bit about Sean Triner
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About me
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The Best Legacy….Strategy
Ever?Why Bother?
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Why Bother?
• Long-term income• Financial sustainability• Important part of a diversified fundraising
strategy• The ability to do even more good work• What else?
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Mal Warwick defines opportunity cost as
“The number you would have raised – if only you had done things right!”
Opportunity cost
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Opportunity cost
Medium bequest program
€2.9 million
(.5% x €29k)
Hot bequest program
€ 8.7 million
(1.5% x €29k)
Mild (or no) bequest program
€580,000 future bequest income
(0.1% x NZ €29k)
Imagine.
You have 20,000 people who donate, or have donated in the past ten years.
Average bequest of just €25,000 (just!)
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Opportunity cost
Medium bequest program
€2.5 million
(.5% x €25k)
Hot bequest program
€ 7.5 million
(1.5% x €25k)
Mild (or no) bequest program
€500,000 future bequest income
(0.1% x €25k)
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Your current income and investment
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Not investing – properly – in bequests is just plain stupid.
But most charities don’t invest enough……and most fundraisers aren’t stupid.
So…. Why don’t we invest enough?
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The Best Legacy….Strategy
Ever?
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Commercial in confidence ©ParetoFundraising 2012
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Option 3:Your
one-page bequest strategy
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Three bequest strategies
Visitation
This planNone
Doesn’t
work
The most cost effective traditional fundraising program. Expect ROI of 20-50:1.Relies on individual staff sales skill and staff retention: major donor type skillsets.
The most cost effective fundraising program ever. Beats visitation BUT visitation is still brilliant, so do both. Expect ROI of 50-200:1.Relies on project management, follows a formula. Low staff costs, higher direct costs (mail, phone). Safer in that it doesn’t rely on key staff – any direct marketeer can do it. Needs specialist copy & scripting.
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Pledged Bequest rateof loyal (5+ gifts), $50+ Active cash donors (by Charity)
18
0
20,000
40,000
60,000
80,000
100,000
120,000
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
LDH
RSPC
A Q
LDBu
sh H
erita
ge ACF
IHC
UN
ICEF
NZ
Gui
de D
ogs V
ICM
ary
Pott
erG
reen
peac
e N
ZW
WF
NZ
RSPC
A SA
CCN
SWPe
ter M
acW
WF
AURF
DS
SEAm
nest
yCB
MI
Alfr
edH
eart
AU
Lepr
osy
M.
Oxf
am A
UBe
rry
StM
SF A
UBa
ker I
DI
TCCQ
LDCB
MI N
ZRN
ZFB
OXF
AM
NZ
RFD
S VI
CSt
arsh
ipM
ater
Fdn
CCIA
Visi
onH
abita
tCH
WLi
fefli
ght
CPA
Envi
ronm
ent V
icRF
DS
WA
SED
ASt
roke
PSEC
Yoor
alla
YOTS
Inde
pend
ence
Cath
olic
M.
A4U
NH
CRRe
d Cr
oss
AUSu
rf L
SSt
arlig
htH
RCSC
HFM
ake
a W
ish
Wor
ld V
isio
n
Confirmed BQ % Loyal DonorsPFBM10_Analysis_ALL_v2.xlsm
Charities with plans like this one, visitation and >3 years
Visitation strategy charities, usually bequest/major donor people
NO bequest marketing, or new
Charity names hidden under here, sorry.
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Discuss your strategies….
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What about your legacies
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ANALYTICAL- Your Growth- Your donor
Behaviour-Used for targeting
ENVIRONMENTAL- How much is given
- Growth- Competition
PERSONAL- Transactions
- Legacy status- Pet name
STRATEGIC DATA
- informs
TECHNICAL DATA
- used
Facts not
anecdote!Bench-
marking
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Bequests / Legacies
Major Donors Regular Giving
Cash Donors
All Supporters
Government
Trusts & FoundationsCorporate &Events
Associations & Groups
The Big Picture
Individuals
Organisations
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Focus Groups
FocusGroupsI
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• Stone and Stone Focus Group
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Focus Groups
FocusGroupsI
For actually marketing bequests!
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Start with some data
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Start with some data
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Source of contributions
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PARETO FUNDRAISINGBENCHMARKING
INDIVIDUAL GIVING: TRENDS REPORT 2012
© 2012
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2012 Members
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Likely bequestors…
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Average legacyby year, excluding gifts below
$1k
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
$0 $10 $20 $30 $40 $50 $60 $70Thousands
Average Bequest AmountPFBM9_IncomeSummary_v1.xls1m6
Yea
r
$50
$46
$50
$49
$58
$59
$53
$56
$56
$53
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Pledged legacy rateby year of first gift
0.6%Expect longer term donors to be morelikely to put you in their will:
0.5%
••
They have been asked more times.They are committed supporters.
0.4%
0.3%
0.2%
0.1%
0.0%
PFBM9_Analysis_ALL_v5.xlsm
17
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
• They are older.• They have been asked more t• They are committed supporte
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Pledged legacy rateby recency of cash gift (months)
1.0%
0.9%
0.8%
0.7%
0.6%
0.5%
0.4%
0.3%
0.2%
0.1%
0.0%0-12 13-24 25-36 37-48 49-60 61-72 73-84 85+
PFBM9_Analysis_ALL_v5.xlsm
18
Recency of cash gift also correlates withlikelihood to be a legacy pledger
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Pledged legacy rateby number of cash gifts
3.0%Number of previous cash gifts correlatesstrongly with intention to legacy
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%10+ 9 8 7 6 5 4 3 2 1
PFBM9_Analysis_ALL_v5.xlsm
19
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Pledged legacy rateby Value of highest cash gift
7.0% 3,500
6.0% 3,000
5.0% 2,500
4.0% 2,000
3.0% 1,500
2.0% 1,000
1.0% 500
0.0% 0
Conf BQ Penetration No. of Conf BQPFBM9_Analysis_ALL_v5.xl2sm0
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Pledged legacyby type of support
rate
4.0%Donors who support more in life intend tosupport more in death, with the absolute3.5%
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
PFBM9_Analys is _ALL_v5.xls m
21
exception of face to face recruited donors.
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Beyond donors…
International Journal of Nonprofit and Voluntary Sector Marketing 2009
Help the Aged
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The €5 crazy cat lady…?
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Are you budgeting for 2051?
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Face to face don’t make good bequestors
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Summary – best prospects
• Age - 60+• Giving history
– Loyalty - how long have they been given– Frequency - how often – Recency - how long ago– Value - how much (can indicate value)– Tenure (a special measure)
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Who do you have you can go to?
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Sowing the seeds for bequests• Who are your future bequestors? Are you acquiring the right donors?– DM mail/telephone donor acquisition– Non face-to-face regular givers
• Build donor loyalty – Amazing customer service– Relaying the impact of the donor’s support
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Let’s start with
marketing and touch
points
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General bequest marketing• Building a culture of bequests• Including bequests in more of what you do• Getting people ‘used’ to the idea• “Touchpoints”
– Newsletters– PSs on receipt letters/ bequest inserts– Talking about bq at functions & events
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Newsletter articles
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Other parts of your bequest marketing toolkit
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Your website
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Now for prospecting
and lead generation
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Let’s look at surveys in more detail…
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Survey Follow up
When asking about monthly gifts too
RG = monthly giving
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Other bequest lead generation ideas
• Bequest letter (with phone followup)• Show-and-tell functions that ask for a bequest (with phone followup)• Inserts - brochures, bookmarks, postcards - in mailings (with measurable call to action)• Add a PS with a measureable call to action on letters from time to time• What else?
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Following through and closing the
deal
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Woody Allen said“80% of
success is turning up”
80 % of bequest success is in the follow up
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Your bequest “pack”• Ask for a bequest• Answer key questions
– Why is it so important that the donor puts you in his/her Will?
– What will the donors bequest achieve?• Tell stories
– Bequestor testimonials– Beneficiary stories (case studies)
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• Provide useful information– Suggested wording– Types of bequest (promote residuary/percentage bequests)– Encourage people to contact you
• Thank– Thank for past support – Thank for considering a bequest
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Want to see one?
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Who do you have you can go to?
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Your bequest “pack”• Ask for a bequest• Answer key questions
– Why is it so important that the donor puts you in his/her Will?
– What will the donors bequest achieve?• Tell stories
– Bequestor testimonials– Beneficiary stories (case studies)
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Let’s watch a video
• Write down the techniques you think are being used
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Building ongoing donor loyalty
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Building donor loyalty• Thank people for their bequest (including donor care letters)• Invite to thank you/show-and-tell functions• Keep mailing them appeals unless they ask you to stop (don’t quarantine your bequest donors)• What else can you do that is special?
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• Johnny the Bagger
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Measuring your Success
Please don’t speed legacy income up.
Wait.
Measure pledges.
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Set your targets!
Underperforming < 1% of loyal (5+ gifts) €30+, active cash donors
Best is 10-18% of loyal (5+ gifts) €30 +, active cash donors
Your target? 5% or higher of loyal (5+ gifts) €30 +, active cash donors
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Use the Phone
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Phone campaign reporting (from DM or survey followup)
Outcome of bequest calls: No. %
Confirmed Bequest - set amount 5 0.84%
Confirmed Bequest - residuary/percentage
4 0.68%
Confirmed Bequest - type unknown 48 8.11%
Total Confirmed 57 9.63%
Intending to make a bequest 255 43.07%
Considering a bequest 106 17.91%
Not interested at the moment 56 9.46%
Not interested in bequests at all 116 19.59%
Deceased 2 0.34%
Total Contacts 592 100.00%
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Keep going:Confirmed bequests per year
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Estimated value of NEW confirmed
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Measuring touchpoints• # of bequest stories in newsletters• # of letters where bequests are promoted (but not the main purpose of the letter)• # of letters where donors are directly asked for a bequest (sole purpose of the letter)• # of PSs on thank you letters...• What else?
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Example bequest comms planMonth/Year Activity
January/February 2013 Newsletter bequest article
February 2013 Annual supporter survey
February/March 2013 Bequest follow-up from survey (phone)
April/May 2013 Newsletter bequest article
May/June/July Tax appeal receipts - Bequest PS on receipt letter
- including small bequest item (for donors who
have given for 2 years or more)
July 2013 Donor Care Letter - including thanking donors
who have made a bequest, as well as
encouraging those who might consider a
bequest - include a bequest bookmark
July/August 2013 Newsletter bequest article
October/November 2013 Newsletter bequest article
2014 Include a bequest direct mail letter (with phone
followup) in the 2014 comms plan - Perhaps in
August/Sept)
Phone conversations
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Key indicators of high performing bequest program
• A strong culture of bequests throughout the whole organisation• Regular bequest asks, particularly through donor surveys• A stable ongoing bequest program with a genuine strategy and adequate budget• High levels of donor loyalty
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Modelling
Bequests
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‘Classic’ donorsDirect mail, phone andlottery
Regular givers – direct mail, phone, DRTV
Regular givers – F2F
Child Sponsors – DRTV, F2F
Make sure you keep getting older donors!!!
Demographic chart
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Older is better
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Thanks a million!
Let’s make sure YOUR plan works…
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Legacy pack - example
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