Trust is paramount to millennials (and all of us)
- Sat, April 09 2011
- Filed under: Marketing essentials
A new study from Achieve and JGA says millennials place trust at the top of the list in motivating giving. Nearly 85 percent of respondents said they would be very or somewhat interested in giving to organizations they can fully trust; on the other hand, nine out of 10 donors said they would stop giving to an organization if it somehow lost their trust.
I’d say this holds true for most donors.
Other key findings:
• 93% of surveyed Millennials gave to nonprofit organizations in 2010, with 10% giving $1,000 or more during the course of the year, but the bulk of giving was distributed in small increments to many organizations. 58% of respondents said their single largest gift was less than $150.
• 57% of Millennials gave in response to a personal ask and 49% gave online. However, when Millennials were asked how they prefer to give, online giving took the top spot, being identified as the method of choice by 58% of respondents.
• 85% of Millennials are motivated to give by a compelling mission or cause, and 56% by a personal connection or trust in the leadership of the organization. Only 2% of Millennials were motivated to give by celebrity endorsements.
• Millennials who want information about a nonprofit will turn to search engines - most often, Google - to do their research. And once they arrive at an organization’s website, the majority wants to find information about the organization’s mission and history, as well as a sense of the organization’s financial information. More than two-thirds would like to find a giving guide that explains how their support will make a difference.
A summary of the study is here. And my other thoughts on millennials are here.
Comments
Interesting finding about how most Millenials said they would prefer to give online, yet they gave more in person. I guess that goes to show that although major trends change, some things are fairly universal and won’t go away any time soon. People respond to in-person requests.
I’ve quoted this post and the related report quite a few times recently. It’s good “know” something about the motivation of all donors and if there are trends or general rules by age or other characteristics, it’s always helpful to pay attention. Thanks for this quick, helpful recap, Katya.
yeah trust is very important, with the internet, you don’t really know if you are dealing with a real company or a Nigerian prince who wants to scam you