This year 2020 it is projected that millennials will represent more than half of all workers. As millennials increase their number in the workforce they are also challenging and transforming the philanthropic scene by demanding more information from nonprofits to justify donating to a cause.
According to Millenial Impact Report by Case Foundation, 84 percent of millennial employees gave to charity and 70 percent of millennial employees volunteered for a charitable cause. These numbers show that millennials are quickly gaining influence over the philanthropic space. So why are millennials giving at a higher rate? One likely assumption is the rise of digitization and the smartphone. It is now easier than ever to reach, communicate with nonprofits and churches. Such engagement helps people feel connected which in turn leads generosity with their time and money.
So how can nonprofits transform millennial engagement to generosity?
- Integrate with platforms: For a generation that grew up in the social media era, it's easy for millennials to be generous to charities that have an online presence and seamlessly accept donations through facebook messenger or text to give. Churches and nonprofits should use social platforms to tell stories that will motivate and display concerns, issues, and results.
- Tap into their peers: Growing up with smartphones, facebook, and SMS means that millennials are very connected to their peers you can create a viral engagement by allowing public sharing of your fundraising/events. Sometimes crowdfunding and volunteering are just what you need to transform engagement to generosity. A long-term relationship with your donors is much valuable than a single donation and tapping into your donor's peers deepens your relationship.
- Small steps climb mountains: Although millennials may not have deep pockets to make huge one-time gifts, getting creative on how you can encourage recurring small donations will go a long way. Imbibing the culture that no donation is too small, and consistent recurring donation is better than one-time giving.
Technology and social media have changed the landscape of fundraising. Having a multichannel donation platform like Kweeve that allows your donors to seamlessly set up recurring donations through text-to-give or online on your website will grow your nonprofit in new ways, reach new people and encourage you in generosity!