OK I admit this is a lie. But the transaction is only after death.
I have just been asked by a big client “We need to measure (for a clear funnel journey and forecast):”
The number of enquirers which will convert to considerers to intenders to pledgers to legacy income.
When will this happen?
What will the values be each year for each segment?
Excuse me (Richard Rant started)
Do we know when every legacy prospect will die?
Do we know (or they know) their “estate value” at death?
Do we know with 100% certainty they will fulfil their current enquiry/intention/consideration/ or pledge?
Do we know the future economic picture for shares and property?
Can we predict their circumstances concerning: family financial needs, care costs etc?
If you answer yes, you are wrong.
Legacies, unlike donations, are NOT transactional during a lifetime.
Individual giving is measured by transactional performance. Easy.
When will IG teams convert from setting inward focused measurements to donor centric measurements for legacies?
It is time charities focused on donors and not inward accountability. Legacy teams suffer from unfair and wrong measures.
At my age of 71 I have no idea of my financial future income, expenditure or needs. I have taken legacies out of my Will and replaced them with others. Do any of the charities know? No because it is none of their damned business.
Leaders must be made aware of the realities of legacy giving. Legacy teams need support, understanding and fair treatment.