The Pentera Blog
Four Vital Tips for Cultivating Women Donors
Women's experiences in planned giving often differ from those of men. For instance, many women from the Silent generation or Baby Boomer generation may not be directly involved in financial planning until a crisis–such as the death of a spouse or parent. But according to financial experts, waiting until a woman is widowed or in the midst of a crisis to plan her estate is too late. Smart estate planning is on-going.
That's where planned giving professionals can be of service. Follow these four tips to better cultivate your women donors:
1. Learn the nuances that influence women and giving. Women's finances can be impacted by many factors over the years. For example, because women generally outlive men, they might be more concerned about depleting financial resources. As such, a woman from the Silent generation may be excited to learn that a charitable gift annuity can secure a steady stream of income and provide her with a sense of financial stability. She might also be delighted to discover that she can leave a permanent legacy through a bequest–without tapping into her current financial reserves. A Baby Boomer woman, on the other hand, may like to know the benefits of a deferred charitable gift annuity as she plans for her retirement. Planned giving professionals must remain cognizant of how various life stage experiences influence a woman's planned giving decisions.
2. Ascertain how a woman views her finances. What are your donor's beliefs about her finances? Does she view finances in terms of success and treat charitable giving as a business transaction? Or does she want to see and fully understand the impact of her gift? Do her decisions involve a larger financial picture that includes her children, spouse, parents, or other significant family members? Understanding these variables can help you work with your donor to chart the best charitable course of action for her situation.
3. Find out what's important to a potential woman donor. Mastering the art of conversation can result in significant gifts. Discover your donor's wants and needs by engaging in a donor-centric dialogue. Ask questions to uncover her giving objectives and intentions. Does she wish to support those organizations that were significant to a deceased husband, those that provided value for her children, or those that advance philanthropic goals she believes made a difference in her life? Does she want to establish a gift that honors the memory of a loved one? Does she desire an ongoing connection to the organization that she decides to support? Does she want to leave a lasting legacy gift for future generations? With these types of inquiries, you are well on your way to crafting meaningful planned gifts.
4. Knowledge is Power. With informative and instructive planned giving materials, women discover ways to plan their estates that are of benefit to them, their family members, and charitable organizations. The more information a woman has on her gift options and on the financial benefits she receives from charitable giving, the more successful your organization will be with that well-educated donor. As planned giving professionals, be sure to provide all the necessary information women need to make smart philanthropic decisions.
Contact Pentera today for successful marketing strategies that can help you achieve optimal results for your organization.
