Millennials are geared to be the drivers for charitable donations. They are tech-savvy, informed and want to see the impact of what they donate. Gradually, they are taking over the workforce and the nonprofit fundraising sector. A 2018 research says they are more likely to donate than any other generation. 84% of Millennials give to charity, most of which comes through high tech use and social media usage.
The new decade, as it begins, would see this generation of youngsters starting to earn. According to reports, the current Generation Z donates an average of $500 each per year. With them starting to earn more at the offices, paying off student loans, further getting a lot through their parental inheritance, this giving amount could increase dramatically in the coming years. Nonprofits should start paying attention and create fundraising strategies to actively engage this important demographic. Let us see a few ways in which nonprofit fundraising can capitalize on the millennial wave:
Make The Most Of Crowdfunding
Most of the people today go behind what’s viral. Most of them are comfortable giving to the causes affecting them the most at the current time. And what’s the most common way to make a campaign viral today? Crowdfunding.
Millennials are the most active generation on the internet. By creating engaging campaigns, nonprofits can easily raise money and capture the number of a large number of small donors, as about 46 percent of millennials already donate to crowdfunding campaigns regularly.
Meanwhile, it is high time for nonprofits to be tech-savvy themselves. Millennials spend an average of six hours per day on their mobile devices. Smaller organizations who cannot afford the cost of television advertising for their campaigns could build creative social media or internet marketing strategies to break through the noise and reach people on their smartphones.
Read : How to create an effective marketing strategy [Ebook]
Develop A Strong Presence
It mustn’t be a surprise when you read this fact “90 percent of 18- to 29-year-olds use social networking sites”. Meet your donors where they are. Make sure your social media accounts are well updated, engaging, and relevant to the cause that you support. It is simply not enough to copy and share content from online newsletters.
And the best part, if you do not have a member who can craft short exciting stories for your social media – hire a millennial for the job!
Get Them Involved
The younger generation is interested in more than just giving money. Around 64 percent millennials volunteer locally, 9 percent volunteer internationally and 55 percent attend fundraising events.
Host nonprofit fundraising events using creative fundraising ideas where this new generation could engage with your nonprofit organizations. Engage them to contribute by providing them an enthusiastic environment where on one hand they love supporting the cause of their choice, while enjoy interacting and working for your organization as well. They might not help your donations but your community would be full with a bunch of new energetic volunteers. Eventually, this might lead to more donations as well, when they are financially stable.
Offer Multiple Ways to Give
It might be that many members of your community would cut a large check during the holiday season. Whereas, many others will prefer to donate in much smaller amounts throughout the whole year. With Netflix and Amazon Prime, the era is of subscription type purchases, and nonprofit fundraising must go with the flow. Provide them payment options like credit cards, ACHs, Text-to-Give, etc, where they enroll into monthly giving programs. Moreover, millennials have very little patience for your complex and slow-loading fundraising pages. Your nonprofit should make sure that the donation process is as simple as possible.
Among the great noise out there, introduce your organization to the younger generation as soon as possible. But to grab their attention for long, make sure your content is relevant and attractive, like a page they would want to come back to. To find answers to all your nonprofit fundraising queries, contact us today!