Millennials are the major donors of the future. Recently their generosity has been noticed. One example that has been found is that, ‘44% of 18-24 year olds said they would give up their smartphones for the month of December to raise £500 for a charity of their choice’. [1]
It is important that now more than ever you engage young people with your small charity.
How can you do this?
You can encourage younger people to engage with and donate to your small charity by using their preferences and possible life experiences to make an emotional connection with them and your cause.
Evidence suggests that, ‘67% of Britons are more likely to support a charity that has affected them directly’ according to The Charity Commission and Fundraising Regulator. [2]
It has also been found that younger people are more likely to give to ‘physical and mental health care charities, shelters for the homeless and refugees, and educational institutions’. [3]
But, what else can persuade millennials to donate?
A new report, published by The Beacon Collaborative, ‘Young Givers’ – The Giving Needs of the Future Wealthy explores the preferences of millennial donors. Here are some facts we learned about Millennial Donors and how you can engage them with your small charity.
01 ‘Wealthy millennials may be frustrated about bigger issues, but they generally don’t connect their giving with systems change’.
They found that organisations are not demonstrating the link between local actions and the effect this will have nationally or globally. Ensure your small charity highlights the impact one donation can have on a wider scale to show donors that their individual actions will make a difference.
02 ‘They know less than you might expect about the complexities and workings of the charity ecosystem’.
Use your marketing or social media platforms to educate others on the private, public and charity sector organisations. Make your information easy to understand with short videos and relevant vocabulary.
03 ‘Donating is often in the moment and they are not currently seeking long term engagement’.
Create a sense of community for donors and your small charity. Ensure that you create an emotional bond with the donor. This can be established by:
- Personalising communications with donors – e.g. using their names in charity emails.
- Using real life stories which resonate with key societal issues which potential donors can relate to – e.g. mental health.
- Sending donors thank you messages to show you care.
04 ‘Giving is not a core part of their identity though some see it as playing a role later in life. It can be intensely personal and therefore difficult to talk about, or awkward to talk about with others who are not as wealthy. However, there is an intrinsic sense of pride in their giving even if they rarely articulate this publicly. Individual fundraising however is completely different and they are very willing to talk about events and sponsorships that they have done to raise funds’.
Young donors who are wealthy don’t want to be boastful so if you bring them together with other like-minded donors, they can discuss your small charity with those who are positive about the cause. This can not only enhance the experience for donors but also can create a sense of community. One way to create this social group can be online by setting up a Facebook group or through fundraising events.
05 ‘Volunteering creates an awareness that encourages more committed giving’.
Utilise your volunteers. Ask your volunteers to speak about your small charity. Their positive volunteering experience and community impact will entice young people to volunteer with you. This can be used in your communications either online through a video clip or quote on Instagram or even through word of mouth.
Volunteering can also make millennials more aware of the problems faced by charities. This can lead to them valuing your charity more. Meaning that they are more likely to donate long-term too.
06 ‘They aspire to give and do more, but the pathways they use are through work, business and local groups’.
Collaborating with similar charities in different areas will help. This way you can give wealthy millennials the opportunity to start volunteering with you more easily. You can also reach out to local groups through your small charities communications online or in person.
To find out even more about wealthy millennial donors preferences follow this link to read the full report: https://www.beaconcollaborative.org.uk/full-report-giving-needs-of-the-future-wealthy/
References:
[1 & 2] https://www.theguardian.com/money/2017/dec/18/millennials-give-more-generously-and-carefully-to-charity-study-finds
[3] https://www.nptuk.org/philanthropic-resources/uk-charitable-giving-statistics/
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