New research shows Millennials may be more charitable than you think; the key is knowing the right way to ask them and getting the right person to do the asking.
According to a recent Millennial donor study, most Millennials said they would be likely to give to a non-profit if asked by a family member (74.6% likely to donate) or friend (62.8%). Whereas if asked by a coworker, only 37.8% would be likely to donate.
If this study proves anything, it’s that in tough economic times it takes a highly personal (think shared DNA) appeal. So, if donor X is more likely to support your cause if Grandma asks him, how can you make that happen?
Leverage your existing donors (get Grandma on board) and turn them into effective fundraisers (give her the tools to succeed). Basically, start using the peer-to-peer fundraising tools provided by donation management software.
The right donation management software will:
1. Help you ask Millennials for help, using their preferred methods
Whether it’s by social media, phone, e-mail, or personal fundraiser pages, donation software can help your leading donors become fundraisers by providing templates, database access, and other tools to help them craft appeals to their friends and families.
The right software will give your fundraisers the freedom to campaign according to their preferences and use strategies they know will be successful with their audience.
2. Show you who should be asking
A well-organized database will help you identify your connections’ connections–these are your likeliest new donors. Along with being more likely to give when asked by a friend or family member, 87% of Millennials surveyed said they have donated to non-profits.
Look within the audience you are targeting to find the people that should be doing the asking. If you can get both of these steps right, you can tap into Millennials’ unparalleled generosity.
Here’s a step-by-step guide to get your peer-to-peer fundraising campaign started.
1. Find your fundraisers
The first step is to find your most engaged donors and volunteers. These are the people who are most likely to be willing to hit up their friends and family. Any good donation management software will help you identify the leaders in your donor sample and provide their biographical information.
2. Ask your fans and biggest supporters for fundraising ideas
Research shows Millennials prefer taking leadership roles in their work with nonprofits. Get their feedback on how they envision the process before asking for their help. Donation management software will help you create targeted lists and online groups to easily reach all your prospective fundraisers.
3. Set clear and realistic goals you can communicate with your fundraisers
When you set goals within your fundraisers’ reach they are more likely to try to meet them. Use donation management software’s reporting and analytic capabilities to show your fundraisers how donations will be put to use.
4. Allow fundraisers to choose their platform
Let everyone choose the method they know their friends and family will be most likely to respond to. It’s no use asking your fundraisers to tweet at their grandparents. That said, donation management software products with good peer-to-peer capabilities will help fundraisers link their efforts across all of their social media channels.
5. Use a tool to make fundraising easy
Asking friends and family for money can be awkward; the templates that come with donation management software save fundraisers time and help them get started without the hassle of writing appeals from scratch.
6. Stay connected with your fundraisers on a day-to-day basis
Let fundraisers know how much your organization appreciates their efforts and have a staffer available to answer any questions that may come up. Use the information stored in your comprehensive contact database to send out daily email blasts to keep fundraisers up to speed.
7. Give thanks
Even in peer-to-peer fundraising, the old adage “thank before you bank” holds true. Donation management software can give automated reminders to send out “thank you” messages as soon as donations are received.
8. Track your progress
Track your most effective fundraisers (and their methods). Use your donation management software’s reporting capabilities to find out what referring sites are driving donations, what online behaviors are more likely to trigger a donation, and where to invest your time and efforts moving forward.
Bring fundraisers together for a face to face meeting (or a Google Hangout if geography is an issue) to discuss the most effective strategies and give shout outs to your biggest earners.
Use donation management software to plan a fundraiser appreciation event that shows your gratitude.
Gather the data and statistics to share with your new fundraisers, show them how their work paid off and how those funds will be put to use. Donation management software will generate reports you can share with fundraisers and donors alike. The feeling of accomplishment will keep them coming back.
So, if you’re interested in tapping into one of today’s most charitable demographics (Millenials, of course), donation management software is the key to peer-to-peer fundraising success.
Looking for Donation Management software? Check out Capterra's list of the best Donation Management software solutions.