Millennial Donors Rising?
Why nonprofits should consider evolving their fundraising strategies
The Millennial generation (those born between 1982 and 2000) has in many ways become the center of attention. Millennials now outnumber any generation, even baby boomers. What characterizes this generation, and what might their population growth mean for the nonprofit sector? Let’s take a look …
Millennials are changing the philanthropic landscape. They bring new expectations to charitable giving and they demand new kinds of information from charitable organizations.
As this generation enters the early years of the traditional donor life cycle, it’s important to reach them in the right ways. Millennials are perpetually connected to mobile devices making it the most effective way for this generation to engage and donate.
As the first truly digital generation, this group is easily reached through online efforts. Recent surveys show that 75 percent of the adults of this generation maintain a profile on one or more social media sites compared to just 30 percent of baby boomers.
With this in mind, organizations need to consider a generational approach for fundraising. Utilize a digital strategy including your website, e-campaigns, social media and online giving opportunities.
Here are a few ideas:
- Amazon Smile – Register your nonprofit and encourage your donors to make you their charity choice. You can collect a small donation with every Amazon.com purchase they make.
- Facebook – Add a “donate” button to your Facebook page.
- Email campaigns – Make your fundraising emails powerful and personal. It’s a great tool to stay in touch with your donors – especially your Millennial donors.
Although meeting the expectations and demands of Millennial donors requires some organizations to change how they communicate with potential donors, these changes could open new doors for long-term donors.
Email Rea & Associates for help or for additional tips and insight.
By Denell Skelton, CPA, manager (Coshocton office)