Millenial Donors Key to Nonprofit Fundraising Success According to Report
I have previously written about various donor demographics – like millennial donors – that nonprofits should be targeting via marketing strategies. This specific donor group is the basis of the 4th edition of thenull written by a research team at Achieve and research partners at The Case Foundation. The report is based on survey responses from 2,665 Millenials (born 1979-1994) compiled earlier this year and the results reveal a unique demographic that nonprofits should nurture to strengthen long-term results. The following are some notable takeaways:
- Connecting with Millenials in this age of social media and mobile devices is important. To accomplish this, nonprofits should maintain a strong social media presence as 51% of surveyed respondents connected with causes they support through social media and 75% ‘Like, retweet or share content through their social media networks. Mobile optimization is also key to reaching and engaging this tech-savy demographic as 83% responded as having smart-phones.
- 65% of respondents received emails or newsletters from one to five organizations, making this an initiative that should be considered as a regular communication tool to inform and engage Millenial supporters. Include “stories about successful projects or the people they help” in your communications as 60% of Millenials liked it most when nonprofits did this.
- Involving the Millenial donor in supporting and backing a cause must ensure you meet their needs – giving them something to be passionate about as indicated by 79% of those surveyed. Meeting people was also a top reason with 56% of Millenials for becoming involved with a cause, while 46% cited gaining expertise.
- Although volunteering opportunities are a great way for Millenials to be socially connected with others within the same community in person, 75% responded that they would be interested participating in a young nonprofit professional group. This initiative can develop a stronger future generation of involved donors and supporters.
- In 2012 83% of responding Millenials made a financial gift to a nonprofit organization. Notably 52% of respondents would be interested in monthly giving programs. 40% made monetary gifts of under $50 while 23% gave between $51-$100. Cultivating this demographic at an early stage can reap future rewards. Capturing their attention with inspirational content, monthly giving programs, being transparent with results and peer-to-peer engagement events will also strengthen results.
Millenials are clearly a coveted demographic and one that has much influence within their networks with much long-term value. Establishing strong relationships through cause-centric content on the platforms they prefer to communicate through while giving them ways to be involved and participate can strengthen overall fundraising results in the long-term.
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