5 Simple Planned-Giving Tips to Implement Right Now
Here’s a simple approach to planned giving that any organization can — and should — implement RIGHT NOW. The returns on your investment of time and energy can be simply amazing!
Planned giving is the big kahuna in fundraising. That’s where the profit is, says my friend and mentor Penelope Burk.
But it’s always last down the line in terms of priority — after the fundraising events, mailing campaigns, sponsorships, grant applications and you name it. Somehow we never get around to planned giving. Why? It’s so technical, all my friends say. We don’t know anything about it. And it’s a bit weird bringing up the subject.
Balderdash, I say back.
Listen, I don’t know a lot about the technical end of planned giving either. And I don’t need to know it. But I do know two important things: I know who the best planned-giving prospects are and what to do with them. And that’s all you need to know, too.
Here’s a quick and dirty plan you can implement right now. And I can’t imagine a greater return on your effort!
1. Identify your best planned-giving prospects
Guess who they are? They are your most loyal donors over time. They are the most consistent, most undemanding, perhaps the most silent donors you have. If you have someone who’s been giving your organization $25 for 20 to 25 years straight, you can bet that your cause is in his will. In fact, many surprise estate gifts come in from those small donors who are ignored by the development staff in favor of bigger donors.
It’s the long-term donor who will leave a major gift as a legacy. As Target Analytics says, “Loyal giving behavior frequently trumps gift size as a predictor of planned giving.”
2. Communicate with them annually
Simply communicate with your most loyal donors at least once a year, reminding them about estate gifts. “You can leave your legacy to our cause.”