The Pentera Blog
Question: Should I Send a QuickCard or eQuickCard to Inform My Donors That Gift Annuity Rates Are Decreasing on July 1, 2020?
By Claudine A. Donikian, JD, MBA
President & CEO, Pentera, Inc.
Answer: We'd be happy to help you get the word out to your donors about the imminent charitable gift annuity (CGA) rate decrease on July 1 by sending a communication out for you. An eQuickCard would be a better option than a printed piece—first, because the rates haven't been published yet; and second, because the timing of sending a print postcard out would be very tight. By the time it was produced, mailed, and landed in donors' mailboxes, your donors would have only a couple of weeks or even just days to make a decision, contact you, and do the gift annuity contract. Some might even be left feeling disappointed that they were given so little notice.
As you think through the best strategy, keep in mind that sending out a mass eQuickCard to all good CGA prospects in your database (based on age, giving history, etc.) has its pros and cons. The mass approach could be very motivating and the right impetus for those who are ready, or moving toward being ready, to do a CGA by July 1. But it could leave those who are not currently considering a CGA believing that gift annuities will be a lot less attractive and so possibly not worth doing after July 1 (or until the rates go back up). That is, this mass approach could inadvertently end up backfiring for a large segment of the mass audience and possibly harm your chances of successfully promoting the very gift vehicle that could otherwise be quite attractive in the coming months had those donors not been made aware of the rate decrease.
Instead, I'd recommend considering taking a more personal and targeted approach. Ideally, you would reach out personally to any and all donors you have had recent conversations about CGAs with and those who have inquired about CGAs in the last year or two (including anyone who has requested follow-up information to a marketing piece about CGAs). Let them know that ACGA just announced the rates will be decreasing on July 1 and that you wanted to make sure they would be making an informed decision about whether to move forward now—before the rates decrease. You would also tell them that the rates haven't been published yet and you'll reach back out once they are published. If this more targeted strategy would still include a larger number of people (maybe you work at a larger organization and so your pool of prospects is larger), and you think an ePostcard would enhance your targeted outreach, we'd be happy to help.
I hope this explanation helps with your decision-making. Please know that Pentera is always at your service.
