How to boost legacy fundraising

Legacy giving is a vital source of fundraising income for charities. The money left to a charity by dedicated supporters can provide long-term, reliable income that drives more impact for the communities in need. For many charities, it can be a lifeline – while individual donations may fluctuate according to economic uncertainty and other external pressures, legacy fundraising is set apart from such issues. 

However, legacy giving can be unpredictable. It does not deliver immediate impact and, particularly in times of economic crisis, it can be understandably overlooked in favour of more immediate income boosts. And it needs to be nurtured to be its most effective.  The essential charity marketer’s guide to legacy fundraising, a recent eGuide from marketing software provider Apteco, points out that “the journey from initially reaching out to someone about legacy giving to receiving the donation can last several years”.  

When done right, it can pay dividends. Research pointed to in Apteco’s eGuide reveals that around 15% to 20% of all voluntary income received by charities in the UK comes from bequests. “To put this into perspective, it would require an additional 1.75 million London Marathon runners over 44 years to match the annual contribution generated by legacy donations,” explains Apteco. People who have a will in place are also more likely to leave annual gifts than those who don’t.  

In this article, we share solutions for charities to help them make the most of legacy fundraising, exploring how they can create optimum supporter journeys for legacy donors, with insight from Apteco’s eGuide. 

Download the eGuide

Understanding legacy donors 

One of the biggest challenges in fundraising is building a relationship with potential legacy donors. Not only does it require ongoing engagement, but personal finances and death are both delicate subjects. Charities must approach donors sensitively, while not taking their support for granted – not every regular donor will want to leave a legacy. “The donor pyramid doesn’t necessarily follow a linear progression, so we cannot assume that regular donors will necessarily transition into legacy donors,” explains Apteco. 

Identifying prospective legacy donors comes down to understanding their motivations. “Major donors are individuals capable of making substantial contributions to charity. They’re often driven by personal reasons and are willing to commit financially to causes they are passionate about,” says Apteco. “In contrast, legacy donors leave a donation to the charity in their will to ensure a lasting impact on its mission beyond their lifetimes.” 

As with all fundraising efforts, charities should segment their audiences and tailor the donor experience accordingly. Apteco points to pledger modelling as a helpful tool, allowing charities to look at past donor behaviour and determine who would be most likely to want to bequest a legacy. “This enables you to strategically engage prospects and ensure higher chances of conversion,” concludes Apteco. 

Creating a legacy supporter journey 

Understanding the motivations and behaviour of supporters enables charities to reach them with the right message at the right time. Supporters don’t generally decide to donate to charity on a whim, it takes a trigger, whether that is personal connection, engagement with content, or news related to a charity’s cause. Legacy fundraising is an even bigger decision. Apteco’s e-guide indicates that three in five people in the UK do not currently have a will, meaning that legacy campaigns must inspire them to change that behaviour.  

The e-guide suggests there are four stages within the legacy donor journey, starting with an enquiry before culminating in the pledge. Here we explain a little more about each stage and what charities can do to progress them to the next one.  

Enquirer 

Enquirers are engaged and want to know more. Charities should fulfil requests for content promptly, follow up on all communications, and provide the opportunity to ask questions. Charities should also personalise their content to fit each supporter’s circumstances (if they are a homeowner, for example, or married).   

Considerer 

According to the e-guide, supporters in the second stage of the legacy supporter journey are likely to have more concrete needs and will be thinking seriously about leaving a legacy donation. Charities may find it helpful to engage with these donors by customising content to different age groups and sharing the long-term impact of their donation on the cause they support.  

Intender  

Intenders are already sure they want to leave a legacy to charity. They may have already filled out the initial forms or had multiple discussions with their chosen charity. This is a charity’s chance to get to know their supporters better, understand what motivates them, and provide more guidance to answer any lingering questions. 

Pledger 

At this stage, supporters have made their decision to leave a legacy to a specific charity. However, as Apteco points out, charities must acknowledge that supporters can change their minds. It is vital to stay in regular contact, sending them updates on your mission, and keep them engaged with your cause. Though this is the fourth stage of the legacy supporter journey, it is still a very active process. If a donor does change their mind, the supporter journey begins again.  

To find out more about legacy fundraising, and how to create a supporter journey for legacy donors, download Apteco’s e-guide here.