“Worth” and “value,” sources say, have slightly different meanings. Worth defines money, especially when buying or selling things. Value defines both money and the significance or emotion attached to something, like a person, place or important decision in life.
Yet, I see it differently. When attaching the words to prospects, donors, planned gifts—I want to flip the definitions.
Worth is less transactional, less related to money and more about what people believe within and about themselves. Generally, people who believe in their worth:
- Take pride in their achievements but show grace and humility
- Help others by helping themselves and believe in fair and equal exchanges
- Are humbled by their small but important role in our world
- Choose gratitude, even when life throws them a curveball because they appreciate the small and big gifts of life.
They ask meaningful questions to continue guiding their sense of worth.
- Who do I aspire to be deep in my heart?
- How do I want my family, friends and community to view me?
- What ideals do I want to instill in my children and grandchildren?
Questions like these play into their overall personal identity, too, part of which includes, “How do I want to be remembered after I am gone?”
Giving is tied to a prospect’s sense of worth as a person and as a donor.
Value, then, is the outcome, or outward manifestation, of a prospect’s sense of worth.
While it attaches a dollar amount to the gift, it also, and perhaps more importantly, is a visible expression of a donor’s desire to perpetuate their values and benefit future generations.
As a side note, this blog ties nicely into the new(ish) concept of philanthropic psychology, or Phil Psych, which encourages thoughtful fundraising that “grows deep love.”
Stelter’s creative team recently delved into Phil Psych during a five-week intensive training to bring the idea to life in our planned giving marketing programs for clients. Read more about why you should love your donors.
Now, how do we do it?
Getting Prospects to Believe in Their Worth
These four strategies, when used consistently and repeatedly, will help get you there.
1. Create a prospect’s own “ah-ha” moment through repetitive use of donor stories. “People like me made a gift like that.”
A great story evokes emotion, builds connection and inspires action. By sharing the story of why someone else chose to make a legacy gift, or better yet, creating an opportunity for donors to share their stories firsthand, like through events or videos, you help others see that they, too, can create a legacy gift.
Tip: Choose stories and images with care. Stelter client strategist Jana Cobb offers insight on how to do that, plus other powerful ways to connect with prospects and donors, in her clever blog, “I’m Not Crying, You’re Crying! 5 Powerful Ways You Can Use Emotion to Connect With Your Donors.”
2. Dispel the notion that only wealthy people have enough to make a planned gift. “I DO have an estate.”
Planned giving can be a great equalizer. No matter how large or modest their estate is, nearly everyone has one.
By talking about popular gifts that won’t affect a prospect’s finances now, a planned gift from their estate feels doable. Start by talking about these types of gifts:
- Gifts in a will
- Beneficiary designations
- Gifts from a donor advised fund
- Gifts of appreciated stock
- Percentage and blended giving
Bonus: Some gifts, like a charitable gift annuity, also provide the donor with an additional source of income after they retire. Make that point often and whenever appropriate because you’ll want to…
3. Repeat, repeat, repeat the WIIFM. “What’s in it for me?”
Show prospects the benefits of a well-planned estate—everywhere, every time, every touchpoint. This includes print, digital and social marketing and in-person conversations.
And remember, it’s OK for you to get bored with your marketing. In fact, it’s a good thing. Use your control package until it stops winning. There’s a reason why it’s your control (hint: because it works). You might feel like a broken record. But remember, you’re saying it a lot more than they’re hearing it. (Numbers vary, but you’ll have to tell someone something anywhere from seven to 13 times before it becomes part of their working memory.)
At any rate, prospects will want to hear about the benefits of a well-planned estate, which include:
- Making the most of their assets. Meeting with qualified professionals helps them grow their wealth over the long term.
- Protecting family and loved ones. Reviewing their plan regularly means adjusting for changes in personal relationships, tax laws, births, deaths and state of residence.
- Being tax smart. Certain assets can be tax burdens (or at least tax surprises). Planning helps them stay in the loop and possibly avoid a tax hit altogether.
4. Deepen the bond to your organization. “Your mission reflects my life, my values, my wishes.”
Take every opportunity to thank prospects for their past generosity and show them the impact their gifts have had.
Fostering connections to an organization’s mission will look different for different industries, but they often involve firsthand experiences or connecting prospects to people doing the work they care about.
“An environmental organization could invite prospects on a guided hike, or a medical research organization could host a talk where a guest speaker shares insights into their latest research,” says Kit Lancaster, Stelter client strategist.
Want more? Find out here the #1 quality that enables you to compassionately steward prospects and donors.
Worthy Thoughts
We’d love to hear strategies you’ve used to cultivate and empower your donors. All prospects are worthy in our eyes. How do you get them to see that?
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