By Kimberley Blease
Some of the biggest challenges in legacy marketing are inspiring a supporter to have a conversation about their vision for the future, about making their own legacy gifts, or providing confirmation that a legacy gift has been included in their estate plans.
For most charities, over half of legacy gifts come as a surprise from donors not found in your Customer Relations Management system (CRM). We know these donors have been deeply moved, touched or inspired by the work of your organization. Yet, they are not giving in traditional ways as a current donor.
Are there ways to inspire more people to tell us about their future plans? One well-known strategy has always existed, but it’s rarely employed in legacy giving strategies.
Donors love a match!
All of the research and donor affinity surveys Blakely has conducted in the past six years show us that gift matches are the number one way people are inspired to consider a gift or increase a gift. In our latest research, nearly 70% of donors say they’re more likely to give a substantial or legacy gift if a match is on the table.
Matches are not new in legacy giving
Legacy matches from corporations and individuals have been used successfully by charities for years, particularly in higher education. They offer significant current and future benefits, but they are often an overlooked tactic for many.
We know that the emergence of younger donors who are very attracted to making planned gifts means that it’s an important consideration in the mix. How can we think differently and incorporate matches into our legacy programs?
First, the matching source can be a business or an individual
Fundraisers often first think of securing a corporate gift for a match first, but there are other options to consider.
Some individual legacy donors are allowing their planned gifts to be made into a match to inspire other legacy gifts. Charities are securing these agreements through conversations with the donor after the confirmation of their gift. People are inspired to inspire others — over 30% of Canadian donors surveyed said that this would be a reason to tell the charity about a gift in their Will!
Second, immediate matches can inspire people to leave legacies and confirm their gift intentions
Many organizations now go beyond just identifying future gifts through formal confirmations. They also take people at their word when they learn of future gifts uncovered in conversations and track those, and steward hand-raisers (those interested or open to leaving you a gift in their estate).
There are still many people who will never tell you that they have included you (30% of donors under 60 and 55% of donors over 60 said there was no solid reason to tell the charity about a planned gift) so treat everyone like they have or will be including you in their Will!
Use a match to open up conversation, and to obtain confirmations by pointing out that your charity will receive an immediate matching cash gift for every confirmation received as part of a challenge or match campaign. Organizations have used both corporate and individual gifts in this way.
This means putting time and effort into the campaign itself and investing in marketing to drive the conversation and confirmations.
Third, think about matching differently
Legacy giving matching differs from the matches offered in your leadership, major gift, or annual programs, where you match 100% of the gift dollars.
One charity received a match gift of $300,000 from a donor who wanted to inspire more legacies. The charity used that match gift to inspire confirmations, offering an immediate $10,000 cash donation per confirmation for the charity. Their goal was 30 new confirmations, which they exceeded! The match was capped but the exposure — and the conversations and opportunity to open up legacy engagement — was priceless!
We have seen other successful campaigns that offer cash gifts that match the first 10% of a planned gift. This style of match generates confirmations and reveals the size of gifts, but can limit the uptake, particularly for those people who are making more modest or residual gifts.
Be creative and think seriously about what you are trying to achieve — maybe identifying hand-raisers is your primary goal, so focus your matches on that. Invest in your proposition and campaign to make sure you are reaching past your known, traditional legacy audiences and into audiences that may not have been targeted for legacy engagement previously (or ever).
The biggest opportunity with legacy matching might be working with your colleagues on other teams, including major gifts, annual or corporate giving. Collaboration can help to secure the right match and work through the campaign logistics. Legacy giving should be integrated into every part of your organization, so maybe a match is just the right way to make this happen and change the future through legacy growth now!
Legacy giving isn’t just about the future — it’s about the conversations you start today. Matching can be the spark.
Kimberley Blease is EVP, Strategic Growth & Innovation for Blakely Inc. With over 39 years of experience in corporate and not-for-profit leadership, Kimberley is a fundraiser and marketer with a focus on delivering lifetime value and real donor engagement. She is a sought-after speaker on the topics of high value giving, planned giving/legacy and trends in the sector. As EVP at Blakely Inc., she heads the creation of new products and solutions, facilitates client workshops that drive growth and change-management, and heads Blakely’s thought leadership platform — The Blakely exchange. kimberley@blakelyfundraising.com
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