Giving by Generation or “I’m a Smith Corona. I’m a PC. I’m a Mac.”

With many of the “go to” donor generation (Boomers) hit hard by the economic downturn, a good number of our clients are forging inroads with younger generations of donors–they’re just not quite sure how to do it.

Give away Rubik’s Cubes? Show up to gift request meetings in flip flops and a Killers t-shirt?

 

Diversifying your donor pool for today’s fundraising effort is a challenge but reaching this younger generation is crucial to building the pipeline of prospects for campaigns and annual giving down the road. There are two important things to remember when constructing a strategy for reaching different donor segments:

1. Different generations give differently.

2. Segmenting donor groups by age is only half the battle.

 Essentially, these guidelines deal with stereotypes and customization. In general, we’ve found the following stereotypical behaviors hold water.

 Baby Boomers:

• Rarely seek a place to give online.
• Respond well to personal requests, especially if that request comes from someone they respect.

 

 Generation Xers:

• Are skeptical of “authorities” and would rather give to an organization their friends support than to one recommended by “an authority.”
• Expect a return on investment from their gifts.
• Give online but also through traditional channels.

 

 Millennials:

• Are more likely to participate as volunteers first and donors second.
• Not only give online but research non-profits and engage their friends in their philanthropic efforts online.

 

So, what can you do to address these idiosyncrasies without forgetting that you are appealing to people and not faceless stereotypes?

 1.  Clean up your data. Make sure that when you input a new prospect into your database, you include information like age (and generation) but also communication style preference, level of involvement etc. Update your data often.

2.  Don’t assume. Just because a prospect is 23, don’t assume she is only interested in volunteering or giving $15 to the annual fund. Not asking remains the top reason for not getting a major gift and assuming everyone has been wiped out by the economy is a sure fire way to leave gifts (major and “gateway”) on the table.

3.  Get connected. Over 60% of Boomers have been to YouTube and over 40% visit at least one social network regularly.  We all know that Millennials and Generation Xers are well connected but if you want to reach everyone, you have to make the effort to get your message and your mission out into cyberspace.

4.  Let others tell your story. Make sure your brand is solid and your message easy to articulate. Part of the appeal of using the internet as a tool is you’re enlisting an army of people you may never have met to share your story with friends, colleagues, and strangers. The key is to arm them with the right information; content is king but it is also alterable and subject to the whim of those spreading it online. So make sure your message is clear and easy to share.

Still have questions about generational giving? Tell the Captive Consultant your story!