The 2015 Millennial Impact Report is Indiana-based research firm Achieve's fifth and most recent study on the changing relationship between millennials and nonprofit institutions.
We chose five statistics from the MIR that are invaluable for advancement staff working to better engage their young alumni.
Please, a definition:
The MIR defines a "millennial" as someone born between 1980 and 2000. The 2015 MIR surveyed 1,584 millennials in 49 states.
The report's first insight is encouraging. Of those millennials surveyed, 84% made gifts in 2014.
You may have to try something new in order to fundraise from millennials, but don't write them off.
84% of Millennials made a charitable donation in 2014.
Okay. How can i get millennials to give here?
67% of Millennials are more likely to give if their peers give, too.
For one, 67% of millennials say they're more likely to make a charitable gift if their peers also give.
Consider Kickstarter, which features a "Projects your friends backed" page. Social discovery is a key factor in Kickstarter's success.
Giving Tuesday, which encourages donors to use the #GivingTuesday hashtag, leverages the same effect.
Second, millennials are more likely to give if they know their company will match it. Of those surveyed, 69% say company matching would encourage them to make a gift.
Not everyone works for a company that matches gifts. You can still make the most of this trend by encouraging young alumni to give specifically to matching-gifts campaigns.
69% of Millennials are more likely to give if their company will match their gift.
43% of Millennials are more likely to give if competition is involved.
Third, competition motivates millennials to give.
Bates, Colby, and Connecticut College took this to heart when they launched the joint March Mania campaign in 2014. The three schools encouraged alumni from the classes of 2004-2013 to give, then tallied the number of donors to each school and ranked them against one another.
What if millennials just won't give?
Not all millennial alumni want or have the means to give to their alma mater. Fortunately, there are other ways to keep them engaged.
The Millennial Alumni Report found that 86% of millennials want to use their skills to volunteer for their alma mater. Offering alumni a non-financial way to give back now—mentoring students, joining the alumni board—pays dividends later.
86% of Millennials want to use their skills to volunteer for their alma mater.
Okay, so we cheated. Four statistics from the 2015 Millennial Impact Review and one from the Millennial Alumni Report. They are both excellent resources for colleges and universities looking to improve their young alumni engagement efforts. If you liked this digest, we strongly recommend reading the full reports.