Have you ever been told that marketing planned giving will negatively impact current giving?
The academic research by Dr. Russell James and others indicates the opposite is true and that planned giving donors continue to make and even increase their current giving. History also indicates that planned gifts are especially important during times of economic downturns and hardship. (This trend in increased bequest revenue to colleges and universities most notably occurred during the Great Depression.)
Organizations that have established planned giving programs often receive 20% to 30% more of their gift revenue from planned gifts, mainly through relatively simple arrangements like charitable bequests and beneficiary designations.
Data has shown that planned giving programs are even more essential during difficult economic times than in good times, as planned gift revenue can help create a bridge to better times for current giving.
If you aren’t actively marketing and soliciting planned gifts, it’s time to start. And if you have an existing program in place, consider expanding your channels for marketing planned giving and make sure your basic data, such as age and wealth, is fresh. Better data equals a more efficient use of budget dollars.
Remember, for many donors, the choice may not be between making a current gift OR a planned gift but may be between making a planned gift or no gift at all! ■
