Key Stats on Millennial-Giving
It’s no secret that nowadays, millennials prefer texting over making a phone call. Data has found that around 76% of millennials are more inclined to choose text messaging instead of phone calls. To build and maintain a strong relationship with millennial donors, you need to connect with them on a more engaging level. By understanding these five key stats on millennial-giving, you will be more prepared with developing a strategy for reaching this mobile-centric audience.
1. There Were 73MM Millennials in 2019.
Why should you even care about tailoring your fundraising strategy to millennials? This qgiv.com blog explains that with a population of more than 73MM millennials in the US, it is essential we understand their donation preferences, behaviors, and attitudes. Speed and efficiency are some of the most defining characteristics of millennials. When creating a fundraising campaign, make sure you receive donations in a highly efficient way. One of the most effective ways to receive donations is by leveraging the power of SMS. ZOOMGIVE’s Text-to-Give platform allows for a quick and simple payment in only a few minutes.
2. One-Third of Millennials Donated to Charity Last Year.
An article by Techsoup talked about the many tendencies millennials have when giving to charities. They found that in the last year, only one of every three millennials donated to charity. They also found that almost all of these donors had posted about social causes within the last month. The data here shows that millennials are cause-driven and want to see change. However, there is a significant dropoff in measuring the actual contributions from donors to those just posting about it on social media.
3. Text Messages Have a 98% Open Rate.
This stat may not be directly related to millennials, but is absolutely essential to understanding how to reach them. This article by donorperfect.com supports the fact that reaching millennials through text can have much better results than any other platform. An open rate of 98% beats out any open email rate by a long shot! The decision of which communication method to use couldn’t be any clearer with this stat alone.
4. 75% Of Millennials Have Used A Phone To Look Up A Cause.
According to the Association of Fundraising Professionals, three-quarters of all millennials have used a phone to look up causes online. They also like to review products, services, and businesses more on a mobile device. Millennials like to be informed in an instant, which is why they are looking up this information on their phone as opposed to a laptop. This statistic tells us that we want to make information readily available for Millenials when communicating a campaign for an organization. This information also must be accurate and trustworthy.
5. 70% of Millennials Volunteer Each Year.
Millennials are passionate about causes and therefore like to be more involved in their volunteering efforts. This article by donorperfect.com highlights that around 70 percent of Millenials volunteer for a charitable cause. This stat helps remind us that if we only focus on creating a fundraising strategy towards monetary donations that we are missing out on receiving volunteer donors.
Fundraising with Millenials in Mind
Millennials are seeking instant gratification with their online activity. They have tendencies to open text messages much more than emails. Also, before they donate to a campaign, they want to know it is safe and trustworthy. The single best way to address these points and maximize your organization’s fundraising to Millenials is by using the ZGIVE Text-to-Give platform. This mobile-centric platform allows for safe and secure payments within minutes in the form of simple text messaging communication.