Developing your legacy strategy

Legacy Fundraising
from scratch
Graham Richards MInstF(Cert)
Freelance Fundraiser
Large campaigns = large costs!
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No one expects small, local charities to
engage at this level
The key is to start from where you are
So why are legacies important?
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Potentially the largest source of voluntary
income
Usually, unrestricted
Very low fundraising costs
A measure of your organisation’s long term
support base
Current Figures
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Legacy giving  8%
Av legacy worth £19k
Cash & residuaries 
Specifics (personal effects) 
Across charities 
Danger of Trustees/Managers cutting legacy
marketing budgets = suicide!
Still greatest income source & best ROI
Future potential
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84% of Wills do not yet contain charitable
bequests
Baby Boomers:
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Affluent
Sense of responsibility
Positive about good causes
Competition is still limited, but growing
Smaller charities beginning to do better in the
legacy market
External Threats
Future threat
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Effects of the recession on house prices
Growing competition – more charities taking legacy
fundraising seriously
More shared bequests
People living longer
Increased care costs
Fewer spinsters – more widowers
Baby Boomers – peaking 2020-2035
The debt-free generation is passing
Indebted generation to follow
Where do you start?
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R.I.P.
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Research
Investment
Planning
Where do you start?
RESEARCH
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Any previous legacies
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How many?
Values?
Types?
Profile of legators
Your supporter database
Over 50s?
Widows or spinsters?
Where do they live/owner or rented?
How do they compare with your legator profiles?
Similar causes
What do they do? (i.e. activities, literature, etc)
Success rate? (% of legacies as part of all voluntary income)
Where do you start?
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INVESTMENT
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The value of legacies justifies investment – the ROI can be
huge
It need not cost much or anything – initially time rather than
money
You need to look medium to long term – not usually
immediate or short term
Where do you start?
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Planning
Draft a legacy fundraising strategy
 Simple with realistic targets
 Who will do it? (internal or external?)
 Decide your budget
Take into account unpredictability
 You can’t plan projects based on legacy income
 You can plan what you could do if legacies come along (a Wish
List)
Developing your legacy strategy
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Setting targets/goals
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Specific
Measurable
Achievable
Realistic
Time-limited
Developing your legacy strategy
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Setting targets/goals
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Specific
Initially, you might opt for Nos of legacies p.a. or
set a marketing goal for 1st year or two
 Later you can budget for potential legacy income
 Don’t aim too high
 Use previous years’ income if available to gauge
it
 Collect data year on year – part of your research
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Developing your legacy strategy
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Measurable
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If you use specific goals, you will easily be
able to measure your success/achievement,
for example:
How you marketed gifts in Wills over the year?
 How many enquiries you received?
 How many legacies you received?
 How much income came from legacies?
 How many pecuniaries/residuaries/specifics?
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Developing your legacy strategy
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Achievable
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Don’t over-stretch yourself
What can you realistically achieve in a year?
 Number of marketing initiatives?
 Achieved within budget?
 Staff able to cope with the response?
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Developing your legacy strategy
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Realistic
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We’re aiming to get at least a £million in the
next 3 years!
That’s OK if you’re an established hospice,
donkey sanctuary or large children’s hospital
 It might be better to say, “We’re aiming to get at
least 2 legacies in the next 3 years.”
 “Size isn’t important” said the actress to the
bishop!
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Developing your legacy strategy
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Time-limited
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Gives you a milepost to check progress
Don’t be despondent if after 3 years
nothing’s happened. It may take 4, 5 or more
years. Be patient!
Useful in the future to look back at specific
marketing initiatives
Use codes on response forms to identify them
 Re-use or tweak successful campaigns
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Marketing your message
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Begin with the obvious:
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Newsletters & publicity materials
Annual report
Email footer
Your website
On the back of “thank you” letters (a “legacy
sandwich”)
Existing supporters and volunteers (are your
warmest potential legators)
Marketing your message
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Explore other mediums
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Direct mailing?
Focus groups?
Through legacy administration (to NoK or
Executors)
Through special events
Posters
Use of video via website, blogs, Web 2.0
Work on the message
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Messages to match the moment/time
Size doesn’t matter – all gifts are valuable
“You can make a real difference”
Look to the future – longevity of charity
Images including children speak “future”
Avoid donkeys & cats unless you’re into
them!
Do’s and don’ts
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In all your publicity use:
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Simple words and terms
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E.g. “a gift in your Will” not legacy or bequest
Other people’s words and real stories
Good use of images says it better than words
Passion again and again and again!
Links to your website where you can expand
your information, etc
Thank you
Graham Richards
Freelance Fundraiser
Email: [email protected]
Web: www.serentwitterpy.co.uk
“Small is bountiful”