One of our clients achieved extraordinary results last year.
They generated more leads for planned gifts and uncovered more previously undisclosed legacy gifts than ever before (74!). Unfortunately, their marketing budget for the following year was reduced by 50%.
Why? Because not enough people died last year.
Yep. You read that correctly. Here’s what happened:
The organization received 50% less dollars last year due to less deaths and hang-ups with estates that were beyond the fundraiser’s control. So, the powers-that-be cut the marketing budget for the next year (this year) by 50%.
Does this sound ridiculous to you?
You’re not alone. And, sadly, our client is not alone. According to Aberdeen Group’s 2013 Survey Report, 48% of respondents indicated that they have difficulty aligning operational execution with financial planning, budgeting, and forecasting.
I think you should aim to avoid being one of the 48%.
Instead, push your organization to have a long-term plan (especially when it comes to major and planned gift marketing) that is aligned with your strategies. For instance, if you have a 3-year strategic plan, then you should have a 3-year budget. A 5-year plan should be aligned with a 5-year budget. So on and so forth.
Aligning your budgets with your strategies will help you:
What do you think?
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To many organization have a short time vision. Their CEO or ED don’t think like an entrepreneur.