A couple posts ago we wrote about the 2013 Millennial Impact Report—which uses survey results to explain how Millennials connect, involve and give to nonprofits. Today, we’re back with more on the report. This time, we’re looking at how Millennials give—and promote giving—to nonprofit organizations.
The key thing to remember when it comes to Millennial giving is that it’s not as much about gaining large donations (unless your tapping into the Zuckerberg-esque Millennial millionaire crowd) as it is about establishing relationships with Millennial donors and paving the path toward long-term giving.
With that in mind, let’s dive into some figures to see how you can better reach and engage Millennials to best support your giving programs.
Top Tip from the 2013 Millennial Impact Report
Organizations can spark a giving relationship with Millennials through a four-pronged approach—inspiration, monthly giving options, transparency, and peer-to-peer engagement.
Stats On How Millennials Support Nonprofits
These notable numbers from the 2013 Millennial Impact Report reveal some interesting—and surprising—insights about how Millennials want to support nonprofits.
83% of Millennial respondents said they gave a gift to a nonprofit organization last year
Nearly 40% of Millennials gave $1-50, while 23% gave at $51-100 levels
How Millennials prefer to give:
2. In Person
5. Payroll Deduction
6. Groupon, Living Social or similar offers
84% of Millennials said they prefer to give on a website, while giving in person came in a distant second with 48%
52% of Millennial respondents say they’d be interested in monthly giving
70% of Millennials are willing to raise money on behalf of a nonprofit they care about
Peer fundraising is highly attractive to this generation:
• 64% fundraise for walk/run/cycling events
• 46% prefer asking people to donate to a designated nonprofit in lieu of physical gifts
• 45% of respondents are not afraid to ask family and friends for money when they feel strongly about a cause
Key Takeaways: Focus Your Millennial Marketing On Peer Fundraising & Monthly Giving
As we mentioned, the goal with Millennials is to develop relationships. This is the courtship phase. You want to engage and involve them with the hope of gradually creating a bond and commitment. Move too fast and you’ll scare them off; move too slow and they’ll lose interest. They key is to keep Millennials involved without pushing them for too much. According to the 2013 Millennial Impact Report, two of the best ways to accomplish that are through monthly giving and online fundraising.
It’s surprising to find so many Millennials are interested and open to monthly giving. But it’s very good news that nonprofits should use to take action. According to the report: “If organizations were to ask for lower donation amounts—say, $10/month for 12 months instead of one $120 payment—they could see increased conversion as well as higher amounts donated over time.” The benefits for nonprofits are twofold: (1) you get more donations from Millennials; and (2) you establish a consistent, continual giving relationship.
Online fundraising provides another great opportunity for engaging Millennials. Rather than getting a single, low-level donation from a Millennial, you can tap into their social network and receive multiple donations. This will not only boost your fundraising and help you recruit new donors, it will also strengthen the Millennial’s connection to the cause and provide you with some word-of-mouth marketing that can increase your brand awareness among Millennials.
A great idea would be to develop an online marketing campaign geared toward Millennials giving them two ways to make a difference: become a monthly donor and/or become an online volunteer. Together, these two areas of focus can give your fundraising a sizable boost and help you lock in a whole new generation of supporters who will only increase in value over time.
Need help reaching Millennial donors?