Did you know that millennials, also known as Generation Y, constitute the largest generation in United States history? Millennials are those who were born between 1979 and 1993, and there are about 80 million of them in the US today. How can fundraisers attract this Generation Y that accounts for such a significant portion of the population?
Millennials are more inclined to support an issue versus an organization since they may be more likely to know how, what, and who it is impacting. Generation Ys want to feel that their choices are making a difference, so, when asking them to join a cause or organization, communications should be tailored to them and their specific values.
Giving millennials the chance to be the “cause of change” increases their likelihood to adapt your mission, and in turn promote and share it. Millennials use social networks daily, so an active social media presence can help you connect with them.
Today reaching millennials is easier than ever with the use of technology. The number-one way millennials give is online, so making your communications mobile-friendly is crucial to reaching them.
According to NCDC’s 5 Ways to Engage Millennials and Raise More This Year by Caryn Stein, here are six major trends and opportunities that are changing charitable giving:
1. Online giving is growing and driving individual giving
Banking and philanthropy are becoming more digitally-driven; therefore, you need to reach millennials online.
2. Independent fundraising events evolve
Giving this generation the ability to customize and personalize their own events on behalf of your organization will make them more prone to participate.
3. Exploration of diversified, sustainable fundraising
An individual will give more over the course of the year as a recurring donor than he or she would with a one-time donation. Millennials are open to monthly gifts because they’re familiar with subscription-style services.
4. Focus on donor retention
Follow up with your donors, and invest in those who are committed.
5. Flexible, community-based giving
Millennials love engaging with their peers; give them the option to rally with their community for the cause.
6. Smarter, tailored approaches
Engaging with donors is not a one-size-fits-all endeavor. Different audiences communicate differently. Personalization is key.
Want help targeting your organization’s communications to millennials? Innovairre is here to assist.
Victoria Mulherin is a Marketing Sales Analyst at Innovairre Communications, which supports more than 500 nonprofit organizations around the world. Contact us at Answers@ Innovairre.com. And follow us on LinkedIn and Twitter.