Hi project leaders! I’m Alison Carlman, GlobalGiving’s Unmarketing Manager. I was privileged to attend the Millennial Donor Summit this week which focused on millennials and social change.
The summit gathered around the idea that targetting millennials is a vital long-term investment for non-profits. Millenials don’t yet donate as much money as their parents do, but they bring their extensive social networks to the table when they engage with your organization.
At the Summit we discussed the Millenial Donor Report, research conducted by the folks at Johnson Grossnickle & Assoc. This online study of nearly 3,000 20-35 year-olds revealed that Millenial donors thrive in online and mobile environments, but they are still driven by personal relationships and human connections.
Millenials donate to organizations that they TRUST. Where does trust come from? 77% of millennial respondents said that friends and family’s recommendations are a major factor in their giving. This is an important “unmarketing” principle: your current, satisfied donors are your most important assets. If your current millennial donors feel happy and trust you, then they will promote you amongst their own networks.
How do you get your millenials to feel happy and trust you? Trust is built slowly. With the exception of crises, millennials engage first, and donate second.
According to “ The Trusted Advisor,” trust results from a combination of credibility, reliability, and intimacy. But these factors are divided by one major bombshell: SELF–INTEREST. Donors, especially millennial donors, can smell self-interest coming from a mile away.