Millennials, (those born from 1981-1996) are the future—and current—generation of philanthropists. As the current major gift prospect population of Baby Boomers retire, Millennials will advance into leadership roles across businesses, governments, and the social sector.
Fact: Millennials are now the largest living generation (75 million strong)—their income and giving power is only going to grow in the coming decades. The ability to channel their financial, social, and political power will determine which organizations thrive and fail.
Nonprofits need to effectively engage and cultivate such an important demographic to ensure sustained fundraising success. To do that, you need to know what they care about (what motivates them), and how to reach them. Armed with these insights and the right technology, you will have the power to strategize and act to cement Millennials as lifelong contributors and advocates.
WHAT DO THEY CARE ABOUT?
- Making Life Better for Everyone. Millennials care deeply about social good. They value social and economic equality, environmental preservation, and education.
- Having an Impact. Whether they give of their time (as volunteers) or treasure (philanthropy), they want their contributions to matter.
- Connecting with and Influencing their Community. Social media is a constant companion that Millennials use as a platform for sharing their passions with and influencing the opinions of vast networks of connections.
- Fact: Half of Facebook—still the most popular platform—has 200+ friends.
HOW TO REACH THEM – AND SPOT THE POTENTIAL
- Social Media. Millennials are (mobile) phone focused. Your engagement communication, calls to action (giving, volunteering, etc.) and demonstration of impact should be mobile friendly and sent out via the most popular platforms—YouTube, Facebook, Instagram, Snapchat, LinkedIn, Twitter
- CrowdFunding/Peer2Peer Campaigns. Seventy percent of millennials are willing to fundraise for a cause they care about1. In fact, many already have experience in fundraising for teams, clubs, and their schools. With the help of social media, a single Millennial can raise thousands of dollars for a nonprofit.
- Volunteer Opportunities. For Millennials, time equals treasure. Once millennials develop a connection to a cause through volunteering, they should be hooked and ready to donate when they have the financial capacity to donate
DATA & INFORMATION
- Know Who Your Millenials Are. Millennials are born 1981-1996.
- What causes are they passionate about? CrowdFunding/Peer-2-Peer fundraising activity.
- What’s their Social Media footprint? Platforms, followers, interests.
- How can you demonstrate impact? Link specific donation size with the resources or impact it provides.
- What volunteer opportunities do we have to offer?
- Social Media (Communication) Channels: YouTube, Facebook, Instagram Twitter, etc.
- CrowdFunding and Peer2Peer Fundraising: Kickstarter, Indiegogo, Patreon, GoFundMe.
- Mobile-friendly messages & online giving mechanisms .
1 CLASSY – The Guide to Millennial Giving
2 Pew – Social Media Use in 2018
3 Fundraising Authority – Stop Guessing: 3 Millennial Donor Engagement Strategies That Work
4 INC. – Top 10 Crowdfunding Platforms
5 Copyblogger — 10 Essential Tips for Creating Mobile-Friendly Emails