by Andy Canada, Johnson Grossnickle and Associates
If you have read anything at all about the latest research on Millennial Donors, you probably know by now that 84% of Millennials are most likely to donate to organizations they trust – and 90% of them will stop donating to organizations that lose their trust.
But what do you do with that information? How can you create trust? Isn’t that something that just happens?
Yes, trust is something that is built up over time. But, there are actions you can take that will help you begin fostering trust with your constituents right away.
Present a comprehensive and compelling case – 85% of Millennials are motivated to give by a compelling mission or cause. Vet your communications to ensure they present your mission clearly and ensure you have a clear case statement in all of your materials, but particularly on your website.
Communicate well – get staff and key volunteers on the same page. Make sure they are able to communicate your organizations mission and cause clearly and concisely.
Create transparency – Millennial donors want to know where their money is going, how will it help, and what is the organization’s fiscal position. Give specifics about how a donation helps, what it provides and how the organization uses funds.
Explain unrestricted funds – Millennials’ need for specificity in giving may make it difficult for organizations to solicit unrestricted funds. But you can combat any hesitancy by detailing as clearly as possible what those funds are used for, even if it is mundane purposes like utilities and rent. Millennials understand organizations need funds for these purposes, but want to be sure their donation’s not just going into some Presidential slush fund.
Building trust with your constituents is not just a strategy to help you woo future Millennial donors. All donors want to feel confident in the organizations they’ve chosen to support. Doing a little extra legwork now can ensure all of your donors feel more confident in their gifts to you.