Yet more notes regarding planned giving marketing from the recent Bridge to Integrated Fundraising and Marketing conference, this time from a session given by Nathan Stelter of The Stelter Company. These are jottings drawn from a presentation largely about a 2008 study about bequest attitudes of age demos.
- About 7% of those surveyed plan to leave a bequest to a nonprofit organization.
- Of these, 73% have not created wills, but plan to within the next five years.
- Those who have decided to give and made a will tend to be in the highest household income group ($100K+) and generally have a college degree.
- Age 40-54 are more receptive to planned giving than older cohorts, but overwhelmingly have not made out a will.
- This age 40-54 is very high potential, largely neglected in bequest marketing.
- Once a nonprofit is named in a will, it is rarely removed. By implication, getting named in the will of a 40-54 year old should lead to a bequest. Just not for a while.
- A slim majority of those surveyed who plan to give to a nonprofit prefer not to declare that gift. The biggest reason is that “it’s my business, no one else needs to know”. (Relatively minor concerns: might change mind, doesn’t want to be pestered with appeals, doesn’t want nonprofit “waiting like a vulture” for gift, just makes donor uncomfortable.)
- As most nonprofits try to get donors to reveal a bequest, assuring privacy might better ensure bequests from many. Another good idea: Assuring them that they can change their mind without permission, letting donor manage contacts.
- “We realize that circumstances change and your bequest to us may not be possible in the future. Your family comes first. You can change at any time.”
- Focus group shows donor interest in good stewardship, return on their investment. Tell her you’ll keep her informed.
- The old shotgun appeal is not adequate. Different age groups require distinct messaging on bequests.