Keeping score: Simple tips for tracking planned giving activities

Naturally, your organization understands the importance of planned giving. But, if you are like many organizations, figuring out a way to track it and measure success leaves you scratching your head. That's understandable. Unlike an annual campaign, planned giving is built on relationships that often develop over many years. A donor may first express interest today but not finalize an estate gift until years later. That long timeline can make it difficult to know whether your efforts are paying off.

The good news is that you don't have to wait decades to measure success. Instead of focusing only on completed bequests, begin tracking the activities that lead to future legacy gifts—which will also generate plenty of annual giving along the way.

Here are a few best practices to consider.

Document "meaningful conversations," not just commitments and gifts received

One of the best indicators of a healthy planned giving program is the number of meaningful conversations your team is having with donors about legacy giving. Ask yourselves, "Did this conversation make it more likely that this donor will include our organization in their estate plan?" Every discussion represents an opportunity to better understand a donor's goals, while also planting the seeds for a future gift and securing lifetime gifts.

Celebrate documented intentions

When a donor informs your organization that they have included you in their estate plan—or signs a letter of intent—celebrate that milestone. Tracking these commitments helps you understand how your legacy program is growing long before gifts are ultimately realized.

Focus on stewardship activities

Activity drives results. And the work doesn't end when a donor makes a legacy commitment. You can generate ongoing meaningful conversations through in-person meetings (even if just 10 minutes), phone calls, invitations to special events, and even super warm email exchanges that move the relationship forward. 

Check your marketing materials

Successful planned giving programs are supported throughout the organization and across the team. Review your website each year to ensure legacy giving information is easy to find. Include planned giving stories in newsletters and annual reports. Add brief legacy giving messages to event materials, email signatures, and social media throughout the year. Small, consistent reminders help normalize conversations about charitable bequests.

Set activity goals you can achieve—and also challenge you

You don't need dozens of metrics to get started. Even setting goals for one or two types of metrics—most importantly, meaningful conversations—can provide valuable insight into your progress from year to year. Again, the activity will drive results. Over time, multiple conversations with a donor, even if brief, stand a good chance of paying off in the long run. Imagine what could happen if everyone on your team held meaningful conversations with a wide range of donors throughout the year—and appropriately introduced legacy giving during those conversations.

Keep it simple

We cannot stress this enough. If you are spending so much time tracking and reporting that it is eating into precious time available for proactive meaningful conversations with donors, something is wrong. It is not a badge of honor to show your board a rocket-scientist-level tracking plan for stewardship, planned giving, and legacy giving, or any type of giving, for that matter. Measure what matters, and what matters are activities that build relationships.

The bottom line is that what gets measured gets managed. By establishing a few simple tracking systems today, your organization can build accountability, celebrate progress, and create a stronger planned giving program that will benefit your mission for generations to come. 

This newsletter is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice.