You’re too smart to follow something simply because it’s a trend. Remember 1980’s neon or 1990’s parachute pants? Some things are better left in past decades.
Others are worth a second look when they can clear space and help us work with more focused purpose.
This week, we’re sharing the first of two blogs about trends in planned giving that we see as doing just that.
2024’s Most Impactful Trends in Planned Giving
TREND 1: Digital Philanthropy
Recently, I read an article from Fidelity Charitable about technology driving new giving methods. It made me think: Why is technology seemingly moving so quickly from behind the scenes to center stage with donors?
COVID-19, as we all know, impacted how donors build relationships with nonprofits. Stats cited in the Fidelity article show this to be true: One-third of donors turned to online resources to research a cause or organization, with 12% saying they did so more frequently in 2020.
Digital philanthropy, or “tech for good,” uses the virtual world to reach a larger audience and steward donors. What’s more, Fidelity’s author reminds us, “For donors who are increasingly accustomed to the ease and convenience of digital tools in every other area of their lives, a frictionless digital experience is quickly becoming non-negotiable.”
We’re sure about this, too: Your donors are online.
IMPACT:
- The digital world is often a first look at your nonprofit’s stories and evidence of efficacy.
Curate your nonprofit’s online persona carefully and consistently. Remember, a third of people went online to research a cause or organization, which means … - Donors increasingly feel empowered to make giving decisions based on their digital experience.
Exploring social media posts, videos and your website, among other digital outreach, provides a glimpse into your nonprofit’s world and its worth to our larger society. Is it one they want to perpetuate for future generations based on what they see, hear and read online? - Similarly, donors want a robust yet streamlined online experience.
They want to feel something in the gut and in the heart at every digital touchpoint and back it up with facts and figures you present online. Most important is a clear, logical next step to contact you to learn more about making a gift.
TREND 2: Artificial Intelligence in Philanthropy
Many nonprofits are already using artificial intelligence-driven technology to enhance their work. This isn’t the stuff of Pixar (Wall-E ring a bell?) or science fiction movies, either.
Artificial intelligence, or AI, relies on computers and machines to mimic humans’ problem-solving and decision-making capabilities. While AI is definitely having its moment, it’s stirring worry among those who fear it might not always be used appropriately or fairly. AI anxiety is a thing.
However, AI can add value to planned giving marketing. Here are a few of its advantages:
- Artificial intelligence can analyze bulk donor data to identify patterns and trends to segment donors based on giving history, interests and other factors for more personalized outreach.
- It can predict future giving trends based on historical data and identify potential prospects.
- AI can be the assistant you’ve always dreamed of by automating routine tasks such as sending out planned giving reminders or thank-you notes.
IMPACT:
Artificial intelligence is here to stay—those who choose to dig into its capabilities can put it to good use to establish deeper relationships with donors, anticipate their behavior using historical data and develop relevant donor journeys.
At Stelter, we recognize the exciting potential of artificial intelligence. Read Our Take on AI’s Role in Fundraising: Cool Tool, but People Still Rule.
TREND 3: Personalized Donor Journeys
Like those parachute pants, “spray-and-pray” planned giving appeals had their day. Twenty(ish) years ago, they were enough to foster donor loyalty.
We also were once content with the “Big 3” of TV.
TV and Planned Giving. Huh?
On the surface, TV and planned giving have little in common. Scratch a bit, however, and you’ll see they share a commonality: Higher expectations among both sets of “audiences” for more personalized content and customized consumption.
Consider this scenario: Up until the mid-80s, when it was mainly the “Big 3” of TV (ABC, NBC, CBS), we flipped through channels until finding a show we liked. Though based largely on viewership numbers—primetime was slotted with the most popular shows—what we watched was scheduled by the station for their benefit, at their convenience.
Today, however, consumers are in control of the clicker. Customized features, for example, set us up where we left off: “Good evening, John. Continue watching for you …” We subliminally feel like the streaming service has our best interest at heart.
Our donors want that same one-to-one interaction.
Personalized donor journeys tell supporters they matter beyond the gift and that they have a special place in your organization. These journeys send a message deeper than words: “You are important. We remember you and you are part of our story.”
Whether your nonprofit is new to donor journeys or pros at personalized engagement, it’s smart to stop, think and assess to be sure you’re hitting the mark.
Start here with “How to Move Your Donors on a Journey From Interested to Invested.”
Additional Tips:
- Start small with storytelling.
- Add simple name personalization in letters or other outreach.
- Use geolocation information to discuss the specific regional impact and give a more local and impactful feel.
- Seek out partners to build better donor/prospect profiles. These could include age segments, marital statuses or wealth screenings (for example) to help tailor messaging to specific groups.
IMPACT:
Personalized donor journeys are worth it. Donors feel like you’re putting in the time and effort to get to know them as well as honor their values and gift-giving preferences. In turn, they’ll feel more connected to your work and willing to invest in your nonprofit’s mission for the long-term.
Come back next Wednesday to see which gift types you need to be ready to talk to donors about in 2024. In the meantime, feel free to share what you think about these trends we discussed today in the comment section below. Are there others you’d like to add?
[…] Last week was more of a thematic overview. Today, we’re digging into three planned gifts that offer the most potential to provide the greatest returns—to your nonprofit and your donors. […]