Although millennials are often saddled with a bad rap for being entitled and self-involved, this is a generation that has consistently proved itself to be anything but. In addition to having strong values and being driven to succeed, millennials are also one of the most educated of all generations. They have also shown themselves to be surprisingly generous, provided you take the right approach in terms of approaching them for donations.
If you’re not reaching this large group of individuals — upwards of 77 million, or 25 percent of the US population — you could be missing out on some major fundraising opportunities. Despite assumptions that millennials are poor and/or unwilling to give back, statistics show the opposite.
Millennials in the US maintain approximately $1.3 trillion in annual buying power and according to Forbes, this unique-minded generation will eventually make up about 75 percent of the workforce worldwide, which makes them a prime segment to target for fundraising campaigns. If you can figure out how to successfully connect with this very specific and influential demographic, you’ll be on the right track toward tapping into a vast segment of donors that’s growing rapidly in terms of its spending power.
What Drives Millennials to Action?
In order to appeal to millennial donors with your fundraising campaigns, it is important to understand what drives them. You’ve got to know when they’re listening and how they’re listening. Then you’ve got to get your message to them as quickly and clearly as possible.
Here are a few tips on how best to connect with the millennial donor-base:
1. Be Social.
Millennials are THE social media generation. If you’re not attuned to the increasingly wide array of social channels millennials are plugged into, you could be at risk of being left completely out of the conversation. If you’re not willing or able to show your audience that your organization is made up of real people, with real voices and faces, you’re less likely to attract the attention of the millennial donors.
Being social doesn’t just mean putting out the occasional tweet or Facebook post, but really engaging with your target audience. Rather than constantly pushing your message, your time may be better spent asking and answering questions in this space. Social media is the ideal venue for demonstrating to your millennial donor base that you care about the same things they care about
2. Be Mobile.
It’s also important to make sure your message is readily accessible on mobile platforms. Millennials are constantly on the go. Even if someone isn’t the busiest millennial on the block, they still need to know that they aren’t being tied down to a specific place or time.
The millennial generation is driven by freedom and independence. If you can get on board with that, you stand a far better chance of capturing the attention of potential donors.
3. Be Brief.
If there’s one thing Millennials can’t stand, it’s being bored by long and uninspiring explanations about why they should buy a certain product or service, work for a company, donate to a cause, etc. It’s not that they can’t be bothered to do some research, but they want to be inspired first.
Make your first impression count. Tell a story that your audience can relate to, and most of all, be honest. You won’t get millennial donors by being anything less than 100 percent authentic.
4. Be Direct.
Get to the point. Yes, your messaging needs to be powerful and engaging, but you also have to clearly ask for what you want. Be specific, and be sure to thoroughly explain the impact that someone’s donation will have.
This is an area where using ExactAsk can be particularly helpful. ExactAsk uses a unique algorithm to generate specified Ask amounts based on how much a given donor can reasonably be expected to give. This type of approach has been shown to particularly resonate with millennial donors, who appreciate specifics and are more likely to respond to an approach that gets right to the point.
To learn more about how using personalized Ask amounts can help you better connect with millennial donors, contact us today for a consultation.