Online wills are a versatile tool for growing future revenue. Every NFP can create a program that best suits its current needs and capabilities – whatever they might be.
For some, that might mean focussing primarily on stewarding existing supporters towards pledging a gift in an online will. To achieve this, dedicated campaigns are essential.
“In terms of stewarding existing supporters towards a digital bequest, the most effective method would be a three-part email series to the largest number of supporters possible,” says Lucy McMorron, Head of Partner Success at Gathered Here.
“These campaigns can be hugely successful and we have seen a number of NFPs earn millions of dollars in estimated revenue from a multi-part email series.”
Include a Charity Week is the most popular time for NFPs to run dedicated campaigns, with January closely following as many Australians look to update their life admin and get on top of personal finances in the New Year.
Many organisations also run successful online will campaigns outside of these peak areas.
However, dedicated campaigns are not the only way to earn gifts in online wills.
As online wills boom in popularity, an increasing stream of intentional will-writers are using online will platforms. Charities and NFPs that partner with such online will platforms are able to connect with this completely new and unknown audience
On Gathered Here, only 30% of gifts are pledged via partner wills – that is, those written by someone who arrived via an NFP campaign, link or landing page.
The vast majority (70%) are pledged by individuals who arrive on Gathered Here completely unprompted by a charity or NFP.
This channel is a passive gift generator and can be kept open year-round, with little to no effort required on the part of the NFP.
“Many of our charity partners rely solely on the Gathered Here audience, rather than their own existing support network, for generating gifts in wills,” says Lucy.
“This option is particularly useful for organisations that already have a packed calendar and may struggle to find a spot for a dedicated campaign, for NFPs that are time-poor since it’s completely hands-off, and for those that might not have a large supporter network to steward.”
Of course, the most effective means of generating gifts via online wills is a combination of campaigning to existing supporters and tapping into new and undiscovered audiences.
This dual approach empowers NFPs to steward their existing donors through the gift in will pipeline, while acquiring new supporters in the background.
With around 50% of all gifters on Gathered Here opting to share their information with their chosen charities, this passive channel not only generates gifts but helps NFPs grow their supporter databases.
If you’d like to learn more about earning gifts in wills and increasing your donor database, get in touch with Gathered Here at Success@GatheredHere.com.au.
For more information about online wills, visit Gathered Here