Planned Giving is not an easy discipline. First, many are working from outdated assumptions and analysis of the variables that make for "good" planned giving prospects. Second, a planned giving officer’s success is directly correlated to the cumulative quality of a relationship that’s lasted years and has likely been managed by more than one person at an organization.
When thinking about the ideal planned giving candidate, many organizations have an untapped prospect pool that can fill the pipeline. One of the myths that circulates the industry is that the average planned giver should not be reached out to until age 60. But, the average donor writes their first will at 44 years old. And 53 percent of those donors establish a planned gift with the writing of that first will.
The second misconception is that planned givers have to have a certain amount of wealth. The reality is your wealthiest donors aren't always your best planned givers. Your best planned givers frequently are the people who are very well aligned with your organization, like annual fund donors that have given five years in a row, for example. Their version of a major gift to your organization is a planned gift, because they may not have the ability to give at a high level right now, but have a clear affinity for your cause.
Thinking about what you consider to be a planned giving prospect in a different way expands the pool of prospects for your organization. Of course, not all annual fund donors will make good planned giving prospects, but the number of relationships fundraisers will need to manage will still increase.
Do fundraisers have the time to do the outreach, communication, qualification, cultivation, and all the necessary touchpoints with planned giving prospects as well as managing the existing planned givers they already have in the pipeline? There's always a problem of fundraiser capacity to manage relationships. How many relationships can we keep straight without dropping any through the cracks? That is where AI comes in as the ability to assist frontline fundraisers in that work so that you can scale up their capacity to manage those relationships.
Our popular on-demand webinar "From Fundraising Intelligence to Artificial Intelligence - How To Accelerate Planned Giving" shows your what top planned giving prospects look like and how to manage all of the touchpoints — from birthday messages to visits, updates on recent events, and more — that go into stewarding relationships over the years. We will show you how, with artificial intelligence (AI), planned giving officers are empowered to keep relationships thriving before gifts are realized.