#legacycasestudies #legacyconferences
Because they do not tell the truth and often mislead fundraisers.
So, let’s take a lifetime giving appeal. You get a response. You know the immediate outcome/ROI. Measurable.
Now take a legacy mailing/communications:
· Does everyone who takes action respond? No. It is private. PS they might also have hated it but never tell you! (They tell me in focus groups!)
· Do you know the value of responders’ gifts? No. None of us know how much we will be worth at death.
· Can you measure pledgers meaningfully when 2% – 68% fulfil their pledge (43% on average)? Some pledge to make sure you never ask again!
· Do you know when they will die? No
· Do you know how many times they will make/change their Will in the future? No
· Do you know why or when they might change their charity legacy beneficiaries in their lifetime? No (but it is becoming much more common).
· Are donors/prospects the same for every cause? No. Prospect behaviour is different (I.E. Alumnus versus widow who witnessed care for her husband). And communication needs are different. Copying is a route to failure.
Every legacy conference seems to focus on case studies which often lead us down the wrong path. Especially those new to legacy fundraising.
Every legacy statistic is a truth and an untruth.
During these times of massive legacy potential, we need to :
· Focus on making prospect action easy, affordable and family friendly.
· Educate leaders on the “unknowns” + inform them of the future potential.
· We also need to trust prospects to do it as much as they trust their charity to use their gift wisely. Relationships are two way.
Let’s inform #fundraisers of the future, not measure from past case studies. #legacyfundraisers #legacyfundrasiing #smeeandford #CIOF #NCVO #philanthropy #fundraising #charitycommunications
Repost this to your leaders. Please.