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Legacy Fundraising from scratch Graham Richards MInstF(Cert) Freelance Fundraiser

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We can’t afford to do that! That’s just for the big charities <ul><li>Let’s look at what the major charities do: </li></ul><ul><ul><li>National & Regional Newspaper ads </li></ul></ul><ul><ul><li>TV, Radio and Cinema ads </li></ul></ul><ul><ul><li>Posters & Hoardings </li></ul></ul><ul><ul><li>Direct Marketing </li></ul></ul><ul><ul><li>Face to Face legacy fundraisers </li></ul></ul><ul><ul><li>Events & Visits </li></ul></ul>

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Large campaigns = large costs! <ul><ul><li>No one expects small, local charities to engage at this level </li></ul></ul><ul><ul><li>The key is to start from where you are </li></ul></ul>

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So why are legacies important? <ul><li>Potentially the largest source of voluntary income </li></ul><ul><li>Usually, unrestricted </li></ul><ul><li>Very low fundraising costs </li></ul><ul><li>A measure of your organisation’s long term support base </li></ul>

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A current “snapshot” of legacies <ul><ul><li>16% of Wills are charitable </li></ul></ul><ul><ul><li>£49bn transferred through Wills, but only 3% goes to charity (that’s still £1.47b!) </li></ul></ul><ul><ul><li>40% of 65+ include charitable gifts </li></ul></ul><ul><ul><li>22% of widows / 6% of men leave gifts to charity </li></ul></ul><ul><ul><li>2006: av pecuniary = £3k and av residuary = £28.5k </li></ul></ul><ul><ul><li>3-5 years before return on investment </li></ul></ul>

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Future potential <ul><li>84% of Wills do not yet contain charitable bequests </li></ul><ul><li>Baby Boomers: </li></ul><ul><ul><li>Affluent </li></ul></ul><ul><ul><li>Sense of responsibility </li></ul></ul><ul><ul><li>Positive about good causes </li></ul></ul><ul><li>Competition is still limited </li></ul><ul><li>Smaller charities beginning to do better in the legacy market </li></ul>

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Future threat <ul><li>Growing competition – more charities taking legacy fundraising seriously </li></ul><ul><li>More shared bequests </li></ul><ul><li>People living longer </li></ul><ul><li>Increased care costs </li></ul><ul><li>Fewer spinsters – more widowers </li></ul><ul><li>Baby Boomers – peaking 2020-2035 </li></ul><ul><li>The debt-free generation is passing </li></ul><ul><li>Indebted generation to follow </li></ul>

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Where do you start? <ul><li>Investment </li></ul><ul><li>Research </li></ul><ul><li>Planning </li></ul>

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Where do you start? <ul><li>Investment </li></ul><ul><ul><li>The value of legacies justifies investment – the ROI can be huge </li></ul></ul><ul><ul><li>It need not cost much or anything – initially time rather than money </li></ul></ul><ul><ul><li>You need to look medium to long term </li></ul></ul>

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Where do you start? <ul><li>Research </li></ul><ul><li>Any previous legacies </li></ul><ul><ul><li>How many? </li></ul></ul><ul><ul><li>Values? </li></ul></ul><ul><ul><li>Types? </li></ul></ul><ul><ul><li>Profile of legators </li></ul></ul><ul><li>Your supporter database </li></ul><ul><ul><li>Over 50s? </li></ul></ul><ul><ul><li>Widows or spinsters? </li></ul></ul><ul><ul><li>How do they compare with your legator profiles? </li></ul></ul><ul><li>Similar causes </li></ul><ul><ul><li>What do they do? (i.e. activities, literature, etc) </li></ul></ul><ul><ul><li>Success rate? (% of legacies as part of all voluntary income) </li></ul></ul>

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Where do you start? <ul><li>Planning </li></ul><ul><li>Draft a legacy fundraising strategy </li></ul><ul><ul><li>Simple with realistic targets </li></ul></ul><ul><ul><li>Who will do it? (internal or external?) </li></ul></ul><ul><ul><li>Decide your budget </li></ul></ul><ul><li>Take into account unpredictability </li></ul><ul><ul><li>You can’t plan projects based on legacy income </li></ul></ul><ul><ul><li>You can plan what you could do if legacies come along (a Wish List) </li></ul></ul>

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Marketing your message <ul><li>Begin with the obvious: </li></ul><ul><ul><li>Newsletters </li></ul></ul><ul><ul><li>Annual report </li></ul></ul><ul><ul><li>Email footer </li></ul></ul><ul><ul><li>Your website </li></ul></ul><ul><ul><li>On the back of “thank you” letters (a “legacy sandwich”) </li></ul></ul><ul><ul><li>Existing supporters and volunteers (are your warmest potential legators) </li></ul></ul>

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Marketing your message <ul><li>Explore other mediums </li></ul><ul><ul><li>Direct mailing? </li></ul></ul><ul><ul><li>Focus groups? </li></ul></ul><ul><ul><li>Through legacy administration (to NoK or Executors) </li></ul></ul><ul><ul><li>Through special events </li></ul></ul><ul><ul><li>Posters </li></ul></ul><ul><ul><li>Use of video via website, blogs, Web 2.0 </li></ul></ul>

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Future opportunities <ul><li>Targeting specific groups </li></ul><ul><ul><li>Single people, childless couples, men </li></ul></ul><ul><li>Work on the message </li></ul><ul><ul><li>Messages to match the moment/time </li></ul></ul><ul><ul><li>Size doesn’t matter – all gifts are valuable </li></ul></ul><ul><ul><li>“ You can make a real difference” </li></ul></ul>

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Do’s and don’ts <ul><li>In all your publicity use: </li></ul><ul><ul><li>Simple words and terms </li></ul></ul><ul><ul><ul><li>E.g. “a gift in your Will” not legacy or bequest </li></ul></ul></ul><ul><ul><li>Other people’s words and real stories </li></ul></ul><ul><ul><li>Good use of images says it better than words </li></ul></ul><ul><ul><li>Passion again and again and again! </li></ul></ul><ul><ul><li>Links to your website where you can expand your information, etc </li></ul></ul>

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Thank you Graham Richards Freelance Fundraiser [email_address] Web: www.freelancefundraiser.co.uk