Changing Donor Landscape: Millennials vs. Baby Boomers
Millennials have overtaken Baby Boomers as the largest generation in America. As of 2015 there were 75.4 million millennials compared to 74.9 boomers. As this population continues to move into the professional world we will see a growing share of charitable donations coming from Millennials. By 2017 it is estimated that Millennials will account for a larger share of charitable donations than any other age group.
Nonprofits are constantly looking for ways to capitalize on this large market. A lot of the answers can be found in the way you interact with the donors. Software for nonprofits are starting to help this cause quite a bit. Increasingly, nonprofit teams should really consider a CRM. There are tons of ways to engage millennials through marketing automation within the CRM, and you will be able to learn more about who gives, and why. This is a great place to start.
With an ever-changing donor landscape it is important to take the time and understand giving trends of the now 18-34 year old generation.
Capturing Millennial donors today can have long term gains for your organization. Optimize for mobile, share stories of impact on social media and always be ready for a shift in trends – especially when it comes to technology!