Your one page guaranteed to work one page legacy plan f inal

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  • Do nothingVisitation / relationshipsDirect mail / phone
  • They use scientific reason to bust mythsExplain the types of data, and for the facts not anecdote bit emphasise we want numbersThen benchmarking bit comes along
  • Hang in there, more data to come…
  • 114 year old Besse Cooper.Draw the age chart.
  • Your one page guaranteed to work one page legacy plan f inal

    1. 1. Your One-Page Guaranteed*-to-Work Legacy Program (*Guaranteed-to-Work if You Have Donors and You Execute the Plan with Good Copy, Stories and Design) Sean Triner Sean.triner@paretofundraising.com
    2. 2. Welcome
    3. 3. A bit about Sean Triner Commercial in confidence ©Pareto Fundraising 2012
    4. 4. About me
    5. 5. The Best Legacy Strategy …. Ever? Why Bother?
    6. 6. Why Bother? • Long-term income • Financial sustainability • Important part of a diversified fundraising strategy • The ability to do even more good work • What else?
    7. 7. Opportunity cost Mal Warwick defines opportunity cost as “The number you would have raised – if only you had done things right!”
    8. 8. Opportunity cost Imagine. You have 20,000 people who donate, or have donated in the past ten years. Average bequest of just
    9. 9. Opportunity cost
    10. 10. Your current income and investment
    11. 11. 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?
    12. 12. The Best Legacy Strategy …. Ever?
    13. 13. Commercial in confidence ©Pareto Fundraising 2012
    14. 14. Option 3: Your one-page bequest strategy
    15. 15. Three bequest strategies 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. Visitation None This plan 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.
    16. 16. 18% 16% 12% 10% 6% 0% LDH RSPCA QLD Bush Heritage ACF IHC UNICEF NZ Guide Dogs VIC Mary Potter Greenpeace NZ WWF NZ RSPCA SA CCNSW Peter Mac WWF AU RFDS SE Amnesty CBMI Alfred Heart AU Leprosy M. Oxfam AU Berry St MSF AU Baker IDI TCCQLD CBMI NZ RNZFB OXFAM NZ RFDS VIC Starship Mater Fdn CCIA Vision Habitat CHW Lifeflight CPA Environment Vic RFDS WA SEDA Stroke PSEC Yooralla YOTS Independence Catholic M. A4UNHCR Red Cross AU Surf LS Starlight HRC SCHF Make a Wish World Vision Pledged Bequest rate of loyal (5+ gifts), $50+ Active cash donors (by Charity) 20% 120,000 Charities with plans like this one, visitation and >3 years 100,000 14% Visitation strategy charities, usually bequest/major donor people Confirmed BQ % Loyal Donors 80,000 60,000 8% NO bequest marketing, or new 18 40,000 4% 20,000 2% 0 Charity names hidden under here, sorry.  PFBM10_Analysis_ALL_v2.xlsm
    17. 17. Discuss your strategies….
    18. 18. What about your legacies
    19. 19. STRATEGIC DATA TECHNICAL DATA - informs - used ANALYTICAL ENVIRONMENTAL -How much is given - Growth - Competition -Your Growth - Your donor Behaviour -Used for targeting PERSONAL -Transactions - Legacy status - Pet name
    20. 20. The Big Picture Organisations Government Corporate & Events Trusts & Foundations Individuals Bequests / Legacies Major Donors Regular Giving Cash Donors All Supporters Associations & Groups
    21. 21. Focus Groups I Focus Groups
    22. 22. • Stone and Stone Focus Group
    23. 23. Focus Groups I Focus Groups For actually marketing bequests!
    24. 24. Start with some data
    25. 25. Start with some data
    26. 26. Source of contributions
    27. 27. PARETO FUNDRAISING BENCHMARKING INDIVIDUAL GIVING: TRENDS REPORT 2012 © 2012
    28. 28. 2012 Members
    29. 29. Likely bequestors…
    30. 30. Average legacy by year, excluding gifts below $1k 2002 $50 2003 $46 2004 $50 Year 2005 $49 2006 $58 2007 $59 2008 $53 2009 $56 2010 $56 2011 $53 $0 $10 $20 $30 $40 $50 $60 $70 Thousands Average Bequest Amount 16 PFBM9_IncomeSummary_v1.xls m
    31. 31. Pledged legacy rate by year of first gift 0.6% Expect longer term donors to be more likely to put you in their will: 0.5% • • • • • 0.4% They are older. They have been asked more t They have been asked more times. They are committed supporte They are committed supporters. 0.3% 0.2% 0.1% 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 0.0% PFBM9_Analysis_ALL_v5.xlsm 17
    32. 32. Pledged legacy rate by recency of cash gift (months) 1.0% Recency of cash gift also correlates with likelihood to be a legacy pledger 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
    33. 33. Pledged legacy rate by number of cash gifts 3.0% Number of previous cash gifts correlates strongly 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
    34. 34. Pledged legacy rate by 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 BQ 2 PFBM9_Analysis_ALL_v5.xl sm 0
    35. 35. Pledged legacy rate by type of support 4.0% 3.5% Donors who support more in life intend to support more in death, with the absolute exception of face to face recruited donors. 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% PFBM9_Analysis_ALL_v5.xlsm 21
    36. 36. Beyond donors… Help the Aged International Journal of Nonprofit and Voluntary Sector Marketing 2009
    37. 37. The €5 crazy cat lady…?
    38. 38. Are you budgeting for 2051?
    39. 39. Face to face don’t make good bequestors
    40. 40. 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)
    41. 41. Who do you have you can go to?
    42. 42. 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
    43. 43. Let’s start with marketing and touch points
    44. 44. 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
    45. 45. Newsletter articles
    46. 46. Other parts of your bequest marketing toolkit
    47. 47. Your website
    48. 48. Now for prospecting and lead generation
    49. 49. Let’s look at surveys in more detail…
    50. 50. Survey Follow up When asking about monthly gifts too RG = monthly giving
    51. 51. 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?
    52. 52. Following through and closing the deal
    53. 53. Woody 80 % of Allen said bequest “80% of success success is is in the turning up” follow up
    54. 54. 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)
    55. 55. • 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
    56. 56. Want to see one?
    57. 57. Who do you have you can go to?
    58. 58. 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)
    59. 59. Let’s watch a video • Write down the techniques you think are being used
    60. 60. Building ongoing donor loyalty
    61. 61. 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?
    62. 62. • Johnny the Bagger
    63. 63. Measuring your Success Please don’t speed legacy income up. Wait. Measure pledges.
    64. 64. 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
    65. 65. Use the Phone
    66. 66. Phone campaign reporting (from DM or survey followup) Outcome of bequest calls: No. Total Confirmed Total Contacts % 57 9.63% 592 100.00%
    67. 67. Keep going: Confirmed bequests per year
    68. 68. Estimated value of NEW confirmed
    69. 69. 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?
    70. 70. Example bequest comms plan 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 Month/Year
    71. 71. 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
    72. 72. Modelling Bequests
    73. 73. Demographic chart ‘Classic’ donors Direct mail, phone and lottery Make sure you keep getting older donors!!! Regular givers – direct mail, phone, DRTV Child Sponsors – DRTV, F2F Regular givers – F2F
    74. 74. Older is better
    75. 75. Thanks a million! Let’s make sure YOUR plan works…
    76. 76. Legacy pack - example

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