Last Friday was Black Friday, perhaps you’re familiar with it. It’s a day dedicated to saving money. (As a nonprofit officer you’ve probably made an art of this.)
While I stayed out of the stores, it did get me thinking. What are some more ways nonprofits can save?
Like where I’m headed? I thought you might.
“Plannual giving” became a buzz word in our industry several years ago. In fact, at the 2014 CGP National Conference in Anaheim, CA, Raymond Watts and Patience Boudreaux of University of Redlands presented on this topic to a standing room only audience. If you missed it, don’t worry, Stelter hosted a free webinar for over 800 nonprofit professionals shortly thereafter and the recording can be found here or you can view it/download the slides on our website.
Ultimately, Plannual giving is about integration, not separation. The idea behind “Plannual Giving” is a hybrid marketing mix, with a blended message combining annual support and legacy gifts in the same communication vehicles, helping to save both time and money and, most importantly, provide your donor’s a better donor experience.
Here’s what you need to know:
Plannual \ ’planyooəl \ adjective
1. the integration of marketing for planned giving and annual giving offices.
2. the evolution of philanthropic outreach toward a donor-centered approach.
Why should you consider plannual giving?
Increasing the number of planned gifts benefits the entire organization. Consider these stats about planned and annual gifts:
- 78% of planned givers are also annual givers.
- The average planned gift is roughly equivalent to 100 annual gifts.¹
- The average U.S. charitable bequest is worth $32,000.²
- On average, annual gifts increase by over $3,000 after donors make a planned gift.³
How can you integrate planned giving and annual giving?
By blending annual and planned giving messaging in the same communication vehicles, you are able to treat donors holistically. Here are a few things you can do:
- In your annual giving appeals, share ideas with your donors about how to extend their annual giving in perpetuity (such as endowing their annual gift).
- Add a short planned giving call to action to your online giving forms. This helps normalize planned giving language in a place where many donors already are.
- Move away from technical planned giving language in your donor communications.
- Integrate annual giving impact stories into your planned giving newsletter.
Do you want to learn more about plannual giving and how your nonprofit can benefit? Check out our in-depth webinar here.
Is plannual giving something your organization is already doing? We want to hear your stories!
¹ Philanthropy 100 Performance Benchmarking Initiative
² Tony Martignetti, Guidestar
³ Russell James from the National Institute on Aging