We found that a recent study by non-profit technology provider, Convio, titled The Next Generation of American Giving, cites that the majority of fundraising targets older donors, but this segment of the population is quickly shrinking. It’s key to start thinking about attracting a new generation of donors. But, how do you do that?
1. First, hop on the social media bandwagon. While more mature donors are prone to responding to direct mail solicitations, that number steadily declines with each generation. Gen X and Millennial donors live and breathe social media every day, whether it’s ecommerce, online giving, mobile/text donations, monthly debit programs and even event fundraising and tributes. The study found that the younger the donor, the greater the number of ways they give.
For example, the study determined the following statistics: “The Haiti earthquake provoked a wave of text contributions – 17% of Millennials and 14% of Gen X respondents to Convio’s survey said they made a donation to Haiti relief efforts via text message, while only 3% of both Boomer and Mature respondents reported making a donation via text. The American Red Cross launched a viral campaign to collect contributions, totaling more than $8 million only weeks following the disaster. Before Haiti, less than $1 million had been raised through texting for all charities, while $50+ million was raised for Haiti via text messages alone.”
2. Next, make volunteer opportunities readily available. Younger donors may not always have the resources for financial contributions, but that doesn’t stop them from offering their time and talents. Volunteerism can be a great opportunity to cultivate relationships with younger donors who will hopefully turn into future donors.
3. And finally, be sure to give back. The younger generations want to make sure their contributions aren’t going unnoticed. Think about small giveaways, promotions or hosting social events to motivate them to participate. If they feel strongly enough about a campaign, they will use their own social network to help promote your cause.
By changing your tactics on your target audience, a whole new world of donors can emerge. If you need help reaching these donors or saying thank you, give us a call!
Article synopsis based on “Engaging the Next Generation of Donors”, by Rick Happy, Senior Vice President and Managing Director, CCS of Giving Institute