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TAPPING INTOFUTUREWEALTHH OW N O N P R O F I T S C A N C O N N E C T W I T H M I L L E N N I A L S
“If you need to raise fundsfrom donors, you need tostudy them, respect them,and build everything youdo around them.Jeff BrooksAuthor of The Fundraiser’s Guide to Irresistible Communicationsand the Future Fundraising Now blog
TAPPING INTO FUTURE WEALTHWhat generation does your nonprofit focus on the most? If yousaid, “Baby Boomers,” you aren’t alone. Since Boomers represent43 percent of total giving, concentrating on your most likelydonors makes perfect sense. But just this year, U.S. CensusBureau population estimates showed Millennials passing by theBaby Boomers as the largest living generation.26%11%MATURESMILLENIALSBorn: before 194643%Born: 1981-1995TOTAL GIVINGBY GENERATION20%GENERATION XBorn: 1965-1980BABY BOOMERSBorn: 12@LexisNexisBizLexisNexis.com/BizBlog
TAPPING INTO FUTURE WEALTHWhile they are not top donors today, Millennials are poised totake over by 2030. Finding out more about this generation—andhow to activate them to donate their time, money and voices onbehalf of your organization—will be critical to your future success.“And not just because of the millennial generation’s size.Sandwiched between those two generations is Generation X—a cohort that is becoming more established financially, like theBoomers they follow and that has an affinity with the digitallife, like the Millennials following them. As a result, some of thestrategies that appeal to either of those generations could alsoserve organizations well in connecting with Gen-X donors.With a generation of younger folks who havethrived on the success of their companies,there is a big opportunity for many of us togive back earlier in our lifetime and see theimpact of our philanthropic efforts.”Mark ZuckerburgCofounder, CEO and PresidentFacebook
TAPPING INTO FUTURE WEALTHWho are the Millennials?71%Appreciate the influenceof other cultures on theAmerican way of life.63%Believe they have aresponsibility to care fortheir parents as they age.They’ve been dubbed the “Me, me, me” generation—a job-hopping, selfie-obsessed group that valuesfame while eschewing civil and political engagement. Such harsh characterizations don’t come solelyfrom people outside the millennial generation. According to Pew Research, 59 percent of Millennialssay that “self-absorbed” describes their generation. That isn’t the whole story, however. As a group,Millennials are: Hyper-connected—Millennials grew up with theinternet and go through life with a smartphonein one hand. They engage with family, friendsand brands via Facebook, Twitter, Instagram anda host of other digital platforms. They preferchat and text over phone calls and email. More ethnically diverse—71 percent ofMillennials say they “appreciate the influence ofother cultures on the American way of life.” Notsurprising given that 43 percent or Millennialsclaim Hispanic, African-American, Asian oranother racial or ethnic heritage. Family oriented—While only 21 percent aremarried—which is half the percentage ofboomers at that age—63 percent believe theyhave a responsibility to care for their parentsas they age, perhaps because Millennials tendto live with their parents much longer thanprevious generations.75%Have donatedto a nonprofit.57%Have volunteeredfor a nonprofit. Committed to social responsibility—Despitehaving more limited financial resources thanolder generations, 75 percent of Millennialshave donated to a nonprofit and 57 percenthave volunteered for a nonprofit. In addition,70 percent say that they consider a company’ssocial responsibility as a factor in bothemployment and spending decisions.LexisNexis.com/Millennial-eBookClearly, there’s more than smartphones and socialmedia on the minds of these digital natives. In a2013 article for Time magazine, Chelsea Clintontouched on misperceptions, saying, “Millennialsare often portrayed as apathetic, disinterested,tuned out and selfish. None of those adjectivesdescribe the Millennials I’ve been privileged tomeet and work with.”She went on to talk about one millennial trait:impatience. Certainly the always-on medialandscape and the ability to download songs, calla cab or order shoes with a tap has contributedto low tolerance for waiting, but Clinton sees thisas an advantage. “It’s urgency not arrogance thatdrives their impatience, their frustration with thestatus quo,” she said.Wouldn’t you liketo see that sense ofurgency fired up onbehalf of your Blog
TAPPING INTO FUTURE WEALTHHow Do MillennialsWant to Engagewith Nonprofits?Brands across a wide range of industries have focused on customer-centric experiences in recentyears. The rise in experience-driven marketing is closely linked with the rise in smartphone usage.Consumers tend to leverage multiple devices throughout the customer journey, and they expectbrands to deliver the right message, at the right time, in the right moment. Nonprofits are notimmune to such expectations. As a result, they must think beyond the traditional approach ofdirect mail—or even email—to reach digital natives.WHAT DO NONPROFITS NEED TO DO?1 SUPPORT ONLINE GIVING.In 2015, overall donations to charitableorganizations grew by 1.6 percent, but onlinedonations grew by 9.2 percent. While onlinedonations reflect only a small portion of overalldonations, the difference in growth rates suggeststhat you need to focus on creating mobile-friendlywebsites that support a click-to-donate approach.2 TELL GREAT STORIES.Your nonprofit’s mission statement won’tinspire action. Millennials want to see results.The popularity and success of crowdfundingplatforms—where individuals and start-ups aliketell their stories and pull in donations—showshow important it is to personalize your mission.Sharing about the people who benefit fromsuccessful projects offers a more concrete viewthat Millennials can get behind.
TAPPING INTO FUTURE WEALTH3 CREATE SHAREABLE CONTENT.When you connect with a Millennial, you havethe opportunity to expand your connectionsexponentially. Nonprofit Quarterly notes thatMillennials, “ use their emotional and socialmedia currency to alert others of causes thatresonate with them. Like a ripple throughstill water, they are brand ambassadors andfundraisers that energize groups and individualsencountered in the virtual and face-to-faceworlds.” Make it easier for Millennials to spreadthe word by providing videos and images tiedto your stories and statistics.4 INCENTIVIZE SUPPORT.While people often bemoan the use ofincentives to encourage donations, plenty oforganizations do it—from the address labelsthat come with a donation solicitation to giftselections based on the size of the donationto a local public radio station. For Millennials,says HubSpot, “What can’t be undervalued isproviding incentives that are both intangible(like making someone feel special) and tangible(like offering matching funds or a trip to seethe work for the winner).”Last year,online donationsgrew by xisNexisBizLexisNexis.com/BizBlog
TAPPING INTO FUTURE WEALTHConclusionDerrick Feldman, CEO of Achieve and researcherfor The Millennial Impact, offers this advice:“What motivates Millennials is a desire to affectTHEIR cause through YOUR organization withtheir friends.” When nonprofits reach out toMillennials through their employers, their rolemodels and their social networks—and tellcompelling stories about creating change—theycan cultivate relationships that last a lifetime.“Stewardship at its best engages donorswith the impact and outcomes of theirinvestments of time, wisdom, expertise,connections, and money.”Karen OsbornePresident of The Osborne Group andrecognized philanthropy consultant and thought leaderFor More 3612@LexisNexisBizLexisNexis.com/BizBlogAbout LexisNexis For nearly 40 years, LexisNexis has helped organizations meet their strategic goals and accomplish greater return on investmentby harnessing the power of leading-edge technology and world-class content. With Nexis for Development Professionals,nonprofits can conduct online fundraising research across news, company and public records data in a single search—improvingyour ability to find and cultivate high-value donors.LexisNexis, Nexis and the Knowledge Burst logo are registered trademarks of RELX Inc.Other products or services may be trademarks or registered trademarks of their respective companies. 2017 LexisNexis. All rights reserved. NBI01463-1 0717
TAPPING INTO FUTURE WEALTH 3 CREATE SHAREABLE CONTENT. When you connect with a Millennial, you have the opportunity to expand your connections exponentially. Nonprofit Quarterly notes that Millennials, “ use their emotional and social media currency to alert others
