Millennials are now in the throes of adulting with $600 billion in annual spending power according to Accenture, and they expect more from nonprofits than older generations did. Many millennials do not simply donate and forget, they invest themselves in the causes that interest them. So, they expect nonprofit organizations to be transparent because they care more about the issues than they do business. Many nonprofits have yet to adjust to shifting into this mindset. Millennials want to feel engaged by these nonprofits, and they want to be able to quantify the effects they have on this world. Let’s take a look at how nonprofits can craft their model to appeal to more millennials.
Look Towards The Future
Millennials want nonprofits to make an impact through the funding of the future. Nonprofits should be investing in those who have great ideas but need the help and funding to bring them to reality. It is important for nonprofits to start identifying forward-thinking initiatives that will appeal to millennials and steer their support in that direction. Organizations will see more involvement from millennials by showing a willingness to do this.
Strengthen The Vision
Millennials identify with a brand especially when it comes to where they are investing their money. They want to be able to share the vision and voice especially with the nonprofit organization they are donating to. For nonprofits, to strengthen your vision with millennials, you must present your mission with consistency, purity, and passion. This generation wants to gravitate towards missions that will inspire them and motivate them. Genuinity and authenticity appeal to millennials, so by viewing them as your top priorities, you will have a better chance of attracting their participation.
Share Success Stories
As mentioned previously, millennials want to feel motivated and inspired. They want to feel a connection with the cause they are donating to. A great way to appeal to this mindset and offer this level of transparency and genuinity is by sharing success stories. It also doesn’t have to be statistics; it can simply be success stories from people who have benefited from past donations. Millennials are more invested in their donations and want to see the positive impact it is making on the community.
Offer Other Participation Opportunities
Millennials may be responsible for the large part of the workforce in the nation, not all of them are fiscally capable of making a dollar donation. So, it is important for nonprofits to offer other options for them to participate in these issues they are passionate about. It could be helping to keep track of donations or reading stories to children in a homeless shelter. Nonprofits should provide these opportunities for millennials to be part of the particular cause that interests them outside of donating money.