3 Target Demographics to Boost Nonprofit Fundraising and Engagement Results in 2013
The New Year is upon us and organizations are wrapping up their end-of-year nonprofit fundraising efforts and setting their sights on preparing for 2013. Consulting reports on the results from 2012 will help with this preparation but the inconsistencies can be confusing. For example, the latest Blackbaud Index reflected a continued Decline in Nonprofit Fundraising while research from BMO Harris Private Banking 2nd Annual Philanthropy Report and Fidelity Charitable Giving Season Survey showed results were on the rise. These are all very reliable information sources so it just goes to show that nonprofits should carefully consider a variety of industry research along with reports on results to best prepare for 2013.
There are studies that show certain groups are more engaged and inclined to give (generously) and the following are three demographics (with corresponding reports) that nonprofits should pay special attention to and target in the new year to help boost overall results.
- High Net Worth Individuals. It’s important to strategically attract and maintain strong relationships with high net worth donors as the recently released 2012 Bank of America Study of High Net Worth Philanthropy revealed that these households are strongly committed to philanthropy. 95% had made a donation to at least one charitable organization in comparison to 65% of the overall general population. 76% plan to continue to give at the same levels or higher in the upcoming 3-5 years. This demographic is also more apt to give their time as 89% volunteered and, of these, 54% volunteered over 100 hours within one year. Furthermore, the study showed that the more the individual volunteered the more they gave. 71% of high net worth donors have a giving strategy and budget. 74% cited “feeling moved about how a gift can make a difference” as a top motivator as they derive great satisfaction from their giving. However, don’t ask for an inappropriate amount/over-solicit to this group as it’s the top reasons they stop giving to a charity.
- Young People. The recently released Index on Young People and Volunteering by DoSomething.org showed that 93% of young people aged 13-15 surveyed want to volunteer their time, however only 54.2% actually do. One main reason why they volunteer is if their friends do and it becomes a social activity. Attracting young people is not easy but making volunteering opportunities local, informal, social and set in unconventional settings such as a club or group will help attract them. Engaging them through text is most effective for them to take action. The research shows that 52% of teens that text frequently also volunteer and 23.3% are also most likely to fundraise. Fundraising is the number one volunteering activity they participate in (38.5%). Although young people may not have much money or disposable income, they are a perfect target audience as engaging them early on will help build on a long-lasting relationship that may produce giving in the future. Motivators as to why they volunteer vary but 70.7% cited civic engagement as their motivator. Many educational institutions have volunteering requirements but 63% of the young volunteers surveyed did not have any requirement to do so.
- Women. There is a growing importance of women’s role in philanthropy according to the Women’s Philanthropy Institute’s Women Give 2012 report which shows that there are definitely differences in giving motivators and patterns between genders and that generally, women give more. The study shows that women – specifically those aged 48 (Baby Boomers) and older – and single give more to charity than males in the same demographic. In fact, they give 89% more than their male counterparts and 70% more than younger generations. Baby Boomers account for over 76 million of the American population – the largest generation in the U.S. – and also accounts for over 90% of the country’s net worth. As such, they have the most impact on many aspects of society and philanthropy is no different. A focus on this Boomer and older female demographic is important for nonprofits to consider in its fundraising strategies.
As 2013 fundraising and engagement plans are being created, nonprofits will be well served to make adjustments on how they can best target demographic groups – like high-net worth individuals, youth and Boomer+ women – to maximize results. Please click on the report links above to read more.
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Miratel Solutions is a Toronto call centre, eBusiness, and letter shop mail house specializing in professional fundraising services including telephone fundraising, online fundraising, lottery services, donation caging, donation processing and other donor management services. We are committed to our CSR business values in all contact centre services and mail house operations and advancing the missions of the nonprofits we proudly serve.