Top 5 Reasons Why Younger Generations Make for GREAT Donors and How to Attract Them
Our last couple of blogs focused on how nonprofits interact with and approach the younger generations of today. We talked about cultivating a younger generation of donors and the importance of a brand ambassador program. If those articles weren’t convincing enough to start shifting your focus towards today’s youth, we are sure to convince you with this one!
This blog entry will cover the top five reasons why the younger generations make for GREAT donors. Yes, that’s right, GREAT donors and how you can attract them to your organization! If you underestimated this group in the past, it’s time to rethink how your nonprofit approaches its donors when marketing and planning out your fundraising events. As a note of clarification, we are referring primarily to Generation Z (mid-to-late 1990s to early 2010s for birth dates). However, millennials are relevant to these top five reasons as well. Millennials are those born between 1981 and 1994.
Without further ado, here are the top reasons why those of the younger generations make for GREAT donors:
1. They take vacations more frequently. Don’t underestimate their spending and giving capacity. Younger generations spend more on experiences rather than shopping or partying. Use this to your advantage when curating your auction items. For example, millennials take 5.6 trips annually on average, while Baby Boomers take 3.5 per year.
*PRO TIP: When it comes to offering travel, France, Spain, Italy, and Ireland are the most popular international destinations. It should also be noted that one in three millennials will plan an international trip within the next two years.
2. They will spend money on quality, experience-focused items. Put quality experiences in front of them at your fundraising auctions, and they will spend! Think along the lines of travel, sports games, restaurants, experiences, and tech.
*PRO TIP: Put together a “smart tech” basket full of less expensive pieces to equate to a more valuable single item (smart plugs, echo shows, fire sticks, etc.).
3. They will respond to your social media marketing efforts. Social media has a profound impact on this group, with 87% of millennials indicating that Facebook inspired their travel bookings and over 50% stating Pinterest or Twitter influenced their decisions. Almost everyone is on social media, but it’s the younger groups who interact the most on these platforms.
4. They are more likely to spread the word about your organization. Social media has a critical impact on your organization. Generation Z and millennials are very active on social media. Getting involved with these generations will give your organization a better chance to expand its reach to potential donors down the road. Capitalize on the six degrees of separation social media offers.
5. You are establishing long-term loyalty. Once you get these younger generations on board with your mission, you will establish a relationship with them, adding long-term value to your organization. Long-term loyalty will help your nonprofit grow into the future as you and your team continue to achieve your goals.
AmFund’s Signature Fundraising Travel Program was created to further our mission of raising unrestricted funds for worthy nonprofits. As such, our flagship program was specifically designed with both the nonprofits and the donors in mind to encourage them to use their personal travel budget to help fund nonprofit missions. To see if your nonprofit qualifies for support through this program, please visit: www.amfund.org/fundraisingtravel. As always, thanks for reading, and stay safe!