generational dynamics of donors
DESCRIPTION
How people donate based on their generational differences.TRANSCRIPT
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Generational Dynamics of Donors
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Facts
60% of wealthy households who stopped giving to charitable organizations did so because:
“too frequently solicited”or
“no longer felt connected to the organization”
Introduction
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High-wealth donor facts:
Top motivation = “believe their gift will make a difference”
Expectations:
1.Transparency2.Accountability3.Protection of privacy
Introduction
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Emerging Trends among high-wealth donors:
•Consulting legal & financial professionals before making a charitable gift
•Making joint household decisions about giving
•85% are raising philanthropic children
Introduction
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Introduction
How do we succeed in today’s market with the additional challenge of generational complexities – the different demands, values and preferences of today’s multi-generational donors?
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Introduction
No More Golden Rule -- Try WIIFM
•Give your donors their “gets”•Arm yourself with knowledge•Apply that knowledge; generationally focus your outreach, marketing, advertising and branding efforts
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The Four Generations
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If you are... Then you are a...
66 years old + Civic / Silent Generation
47 years – 65 years old Baby Boomer
35 years – 46 years old Gen X’er
18 years – 34 years old Echo Boomer / Gen Y / Millennial
The Four Generations
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Your success…
Understanding the four generations and
their WIIFMs in order to gain their trust and
engage them in your organization/cause.
And get to know the 5th generation!
The Four Generations
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Civics
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Civics
Basics
• Ages 66 and over •AKA Matures, Seniors, GIs, Greatest Generation, Builders• 59 million
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Civics are about …
•Dedication and Sacrifice•Hard work•Conformity•Stability and Security•Respect for Authority•Delayed Gratification
Civics
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So they want…
No hassle!•Civics respect the rules and authority but they’ve been abiding by rules for a long, long time.• A no hassle “I’ll take care of it” experience will drive Civic loyalty.
Civics
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So they want you to …
Be the purveyor of the ultimate payoff!
• Think about “delayed gratification.”• Marketing messages should include things like “this is your time”, “you’ve waited long enough”, “reward yourself.”
Tell them – “You’ve earned it!”• YOU can provide the “fruits of their life’s labor!”
Civics
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Give respect, loyalty, honesty
•Build a face-to-face relationship
•They are referral builders
•Communicate authentically and understand HOW they want to be communicated with
•Deliver on your promises
•Use storytelling as a way to reinforce
Civics
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Donor outreach messaging:
•Stress history and credibility of your organization
•Include titles of position and responsibility when appropriate
•Provide updates on your success as relates to their previous donations
•Include personal stories
Civics
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Baby Boomers
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Baby Boomers
Basics
•Ages 47-65•AKA Boomers, “Me” Generation•78 million – largest generation
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Boomers are about…
•Personal gratification•Optimism•Satisfying the “self” first•Community involvement•The “team” win•Rewards
Baby Boomers
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So they want…
To feel like part of the team.•You are on the same team.•“Your team” will work toward their success.•Your organization is based on teamwork.•“Our organization has a team of professionals that work toward…”
Baby Boomers
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So they want…
This to be about them.•Provide individualized service to them.•Don’t discuss all of the other things you need to do.•Keep the focus on them.•Make them feel like servicing them is the center of your universe.•When you are with them, limit any external interruptions.
Baby Boomers
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So they want…
To know that you are part of their community.• This is the original “involved”
generation -- Protesters, environmentalists, etc.
To know that your organization will be an integral part of their journey towards “what’s next.”
Baby Boomers
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Donor outreach messaging:
Optimism!•Speak of things in positive terms – •“There’s no challenge too great.”•“We will move any obstacle to get this done.”•“We are committed to winning together.”•“It’s just the beginning.”
Baby Boomers
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Quick Boomer Fact
Today’s 50-65 crowd is flush with over $1,000,000,000,000In spending power per year.
They should be a part of your outreach strategy!
Baby Boomers
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Generation X
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Basics
•Ages 35-46•AKA X’ers, Baby Busters•48 million•Original “latchkey” kids
Generation X
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Values and Preferences
•Fierce Independence•Change•Techno-literacy•Skepticism•Work is “just a job”•Need Autonomy
Generation X
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Their heroes?
•No heroes or icons other than – themselves!•Much of Gen X has spent a lot of time alone, figuring things out themselves.•Why idolize anyone?
Generation X
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Gen X’ers are about…
•Seeking a sense of family•Desiring fun/freedom•Technoliteracy•Seeking balance•Fierce independence•Skepticism
Generation X
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Philanthropy characterized by… •Demand more info before giving•Skeptical/less willing to trust bureaucracy•Men crave more family time = less time on civic activities•Question ideological/civic orientations of previous generations•Grew up during high unemployment, low wages, little advancement•Disenchanted with politics – work hard for charitable causes
Generation X
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So Gen X’ers want…
You to respect their skepticism•Create lasting loyalty through extreme candor.•Tell them everything they need to know – really.•Be authentic, honest and upfront.
Generation X
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So Gen X’ers want…
You to recognize and address the role “the home plays in the family”
• X’ers are starting and growing families – most are products of divorces. Their families are important to them.
• You are helping them build a family – embrace that vital role!
Generation X
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So Gen X’ers want…
Empowerment with technology.•Utilize technology to drive the transaction.•Provide a useful, info-rich website.•Communicate and respond immediately!
Generation X
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So Gen X’ers want…
Hands off!•Embrace the “latch-key within” and give them space•Understand and acknowledge fierce X’er independence•The DIY mentality – Home Depot & IKEA generation•Be there when needed AND get-gone when you are not (on-demand)!
Generation X
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Donor outreach messaging …
Fun and Freedom•Provide a fun, light experience•Offer freedom of choice – communicate options at every opportunity•Volunteer opportunities for self and with their kids•Provide planning contingency – what are the options if this doesn’t work
Generation X
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Generation Y
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Generation Y
Basics
•Ages 18-34
•aka Gen Y, Echo Boomers, Millennials
•73 million – 2nd largest generation
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Gen Y’ers are about…
•Optimism and fun•Morals•Confidence (strong ego’s)•Community•Techno-fusion•Collaboration•Civic engagement
Generation Y
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Philanthropic Characteristics …
The relationship generation•Will be a civic generation – great promise for the future of philanthropy•Drawn to hometown/local causes•Do respond to “crisis” •Give using technology•Will give smaller donations – but will repeat
Generation Y
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So Gen Y’ers want…
To be special and unique•It’s uncool to be “cookie cutter.”•Show your personality and expect them to act like individuals.•No comparing them to “other donors.”•Loosen up a little.•Don’t judge a book by it’s cover!
Generation Y
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So Gen Y’ers want…
To start and finish everything online.
•Without internet marketing, you won’t capture the Gen Y consumer.
•Their social life is DRIVEN BY the internet.
•Life is done with the phone.
•Response is expected IMMEDIATELY.
Generation Y
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So Gen Y’ers want…
To be guided and led, but not told. (democratic nature will be offended).
• Affirm their confidence.• They ARE inexperienced and WON’T ask for help – but they do expect it on THEIR TERMS.
•Resist the parenting impulse!
Generation Y
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Donor outreach messaging …
•No comparisons to other groups/causes
•Provide FYI, or “just in case” gentle messages vs. in your face appeal.
•Be a part of the community you serve and “stand for something.”
Generation Y
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Quick Gen Y’ers fact …
•Help them get what they want and they will be your social advocates.
•Referrals will come from this group.
Generation Y
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5th Generation: the “net” generation
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Quick Gen Z’ers facts …•Rather text than talk
•Very short attention span
•Growing up fast: behavior beyond their years
•Growing up in smaller households; with older parents
•Parents are more advisors than traditional parent roles
•Very collaborative and creative
•Very concerned about the environment
Generation Z
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Thank you!