2️⃣1️⃣8️⃣:1️⃣
Imagine, if you will, that you want to open a new savings account. You look around at a few different options, trying to figure out what works best for you 🏦
Then you come across one account that has an estimated return of £218 to every £1 you invest - or an ROI of 218:1 💰
You’d bite their metaphorical hand off, right? Chances are, unless you’re into bitcoin (other challenger currencies are available) or investing in early stage startups, you’ll never find returns as high as that.
Why have I chosen this particular figure? Well, as most companies do, we did some digging into our 2020 year as a review. Some of the statistics were quite extraordinary 📊
The headline for me was this - across all our charity partnerships who used our will writing services last year, the average - average - potential ROI for every pound spent was a whopping 2️⃣1️⃣8️⃣ : 1️⃣
Not only that - 1 in 3 people who wrote a will through one of our charity partners also pledged a gift to that charity as well (the industry standard is as low as 6%) 🎁
Most of us in the third sector understand the vital importance that legacies bring to a charity’s income. Most of us also know that legacy income usually won’t be realised for decades.
But what a lot of people still don’t realise is how effective it can be to invest in will writing services to facilitate this most special of gifts - and track the results live to the second;
In fact, it’s very telling for the sector as whole that the title of the legacy roundtable in February 2021 was...
‘Worth your weight in gold – proving the intangible (and how can you help make it happen)’
… as it highlights the struggles legacy professionals feel that they have in terms of proving the value of their toil and labour year in, year out.
But no longer does it have to be about proving the intangible - if you’ve got the data from your will writing services, it’s becoming very much possible 📈
So I lay down the challenge to all you wonderful legacy fundraisers out there - next time you speak to any of the heads of income generation, fundraising or individual giving - offer them this;
An income stream that sees an average ROI of 218:1 for every pound spent.
I bet you a pound that they’ll want to find out more...
T+Cs - we understand that the above is a forecasted figure of potential earnings. There are those who might explain that this is too high as many supporters will change or update their will in future. While this is potentially possible, we still think 218:1 still a phenomenal starting point 👊
Persuasion - Charity Training and Legacy Consultancy Specialist
4yVery insightful Dylan and comes at a perfect time whilst I'm working with charities on their Legacy Strategies right now. What feels also unique is the way that Guardian Angel make the link between in-memory giving and Legacies, the former which can often come off as the poorer cousin of the two!