This Barna study on Millennials is a great resource, and we can learn a lot from it - especially in terms of fundraising. I was asked to give a ‘Young Life Development & Fundraising’ response to this study. A lot of interesting things came up from our discussion around how to engage Millennials.
First, we need to make sure we reframe how we think of the term “millennial” because they’re no longer the “kids” just getting out into the world. The largest segment of American society, the Millennials (born 1980-2001) are coming of age, and are actually now a huge base of the adults around our Young Life communities (from leaders, to committee members to donors, and even staff).
They will receive the largest intergenerational transfer of wealth in American history (estimated 58.1 trillion dollars). Nonetheless, compared to previous generations, they are more likely to be religiously unaffiliated and less likely to believe in God. Thus, the impact of this on how Millennials give and to whom is a growing issue for Young Life staff & committee’s seeking to raise funds from this generation.
Here are several characteristics of Millennials that affect their philanthropy:
They give impulsively
They want their contribution to achieve results for a cause.
They prefer events and peer-based giving.
Peers are a significant influence for Millennials:
They prefer to learn about opportunities from peers.
They are willing to help raise funds for causes they care about, usually by calling on friends and family.
The influence of an individual on his friends is substantial.
So, how do we approach Millennials in our own fundraising efforts?
Get moving: As Young Life Staff and Committees, consider teaching and mentoring Millennials on biblical generosity, but do this in the context of action. (Challenge – have your committee do a Journey of Generosity ‘JOG’ and then spin out and do smaller ones with groups of Millennials) https://generousgiving.org/events/jog/ We have facilitators in YL who can do this. Having Millennials on your committee engaging their friends will be a critical strategy with this generation.
Diversify your donor base: Anticipate (and strive for) smaller dollar amounts from a larger number of Millennial donors. The high-net worth individual giver model will likely not be effective with this population segment.
Focus on impact: Consider engaging Millennials around a strategy or vision of IMPACT and not a financial need.
Incorporate participation, not just a donation: Consider a spectrum of ways for Millennials to participate in ministry, starting with small, even virtual, but not insignificant ways, leading to larger, more co-creative ways.
Transparency: Make sure our ministries are open and transparent in all financial activities.
Encourage them to share: Since Millennials are influenced by peers and family in significant ways, encourage sharing and provide clear and accurate ways for donors to bring friends and family along in the process. Activities like our family camps, women’s retreats, and men’s retreats can be a great way to engage this population.
Relationships still matter: Do not focus overly on technology as if it alone defines this group. They use technology, almost seamlessly, but mostly as a means to relationship.
Build trust through relationships: They value and desire authentic, trusted relationships. (Relationship Centered Engagement). This is Young Life!!
“Millennial giving to efforts of evangelism and discipleship will involve building trust by helping Millennials see the true impact of their gifts, as well as opportunities to give beyond the financial. If a Millennial donor sees their giving as accessible, engaging, and meaningful, more than likely they will let their peer networks know. When this happens, giving becomes timeless, transcendent of generations—when a friend invites us to come along, we follow.” This is RCE!
When it comes down to it, the Millennial adults in our communities are not that different from any other adult we’ve encountered. Honestly, they’re not that different from any other kid too! We all want relationship and human interaction. Sitting face to face with a donor and inviting them to partner will always be the most effective way to fundraise - with ANY generation.
Written by: Jamie Hanson, jhanson@sc.younglife.org