What is one of the major things holding back your legacy fundraising efforts?
It’s your own naivety.
You might not like that answer, but it’s the conclusion reached by veteran fundraising expert Stephen Pidgeon, the author of How to Love Your Donors (to Death). Pidgeon will be sharing his insights at the AFP International Fundraising Conference (Baltimore, March 29-31, 2015) in his session, “Bequest Asks: Getting it Right.”
So, why does Pidgeon think many fundraising professionals are naïve?
Because THEY don’t like to thin
k about death, [fundraising professionals] assume everyone else is the same. Well, older people (those in their late 50’s and older) do think about death, and they do it perfectly maturely and with no fuss. And the older they get the more unexceptional it becomes. Indeed, supporters are often hugely grateful for the opportunity to make such a major contribution, albeit after they have died. It is a matter of immense pride to them that they have made the decision and sorted their affairs.
“I’d ask what right has some well paid, youthful charity executive (meaning in their mid-50s or younger!) to deny their best supporters the opportunity of such deep satisfaction. That’s patronising age-ism and when you get into your 60’s or older, nothing is more irritating. Casually mentioning the possibility of a bequest in a newsletter that is read by less than 20 percent of its circulation is NOT ‘…giving your best supporters the opportunity…’!”
The key when speaking with people about bequest giving is to do so in the right way. After all, you’re not helping them plan their funeral; you’re helping them build their legacy. (Be sure to read my post “One Word is Costing Your Fundraising Effort a Fortune” about the latest research findings reported by Dr. Russell James.)
Pidgeon also identifies another problem with bequest marketing:
Linking bequest marketing with planned giving is as daft as using direct mail to solicit major gifts. Most bequests will come from ordinary supporters who passionately believe in the work of the organisation. They will be comfortable, not wealthy, and they know they should write a will. They do not relate to the concept of ‘planning their estate.’”
In other words, bequest gifts are the major gifts of the middle class. By contrast, planned giving, as referenced by Pidgeon, involves wealthy donors making sophisticated contributions using complex vehicles such as trusts. Pidgeon believes that marketing needs to be tailored to the target population and that population will vary depending on the gift vehicle.
During his upcoming presentation, Pidgeon will also look at how charities acquire and continue to solicit lower-level donors. He argues that “aggressive” “demands” for money alienate potential legacy supporters. He asserts that people will only leave a legacy gift to a nonprofit organization that has made them feel “deeply that their support has been appreciated.” Sadly, fundraising and stewardship tactics often lead to negative feelings rather than positive.
Pidgeon promises to share figures during his talk that “will force fundraisers to re-evaluate the aggressive way they demand money from ordinary supporters.” He’ll also share bequest-marketing insights from around the world.
So, what do you think? Is Pidgeon right? Let me know by commenting below.
In addition to the session I’ve just described, Pidgeon will also serve on the panel for “I Wish I’d Thought of That – AFP & SOFII” during the Conference.
If you’re unable to attend the Conference, an audio recording of Pidgeon’s sessions, as well as other sessions, will be available for purchase shortly after the Conference.
By the way, I’m planning to attend the gathering of about 4,000 fundraising professionals from around the world. Let me know if you’ll be going. I hope to see you there.
That’s what Michael Rosen says… What do you say?
Michael Rosen Says... 