It’s time to rethink the major gift fundraising rulebook. The next generation of donors is ready to be engaged, but their expectations are very different from those who came before.
The traditional way
Back in the day, trustees who came with a little black book of high-net-worth contacts could almost guarantee a charity’s fundraising success. Donors with a connection to the board were happy to write a cheque and trust that the work was being done.
The new generation does things differently. They care less about the calibre of a board and more about the impact of a charity’s work. They want to be part of the solution and engaged in the delivery.
However, at the heart of best practice fundraising are relationships, and that will never change.
What needs to change
Younger donors have proven to be more impact-driven than their older counterparts. They care deeply about the causes they support and want to understand how their gift will make a difference.
They are open to connecting with charities outside their network, but trust takes time to earn. They may start by initially donating small amounts, so they can get to know your cause before giving a transformational gift.
Charities operating with top-down relationships, with trustees and chief executives owning stewardship of high-level prospects, may struggle with this generation of donors. Younger donors are hungry for collaboration, transparency and participation, and are often much better suited to relationships with a service delivery team so they can be immersed in impact.
How charities can make the most of this shift
Charities willing to put in the work with younger donors will reap the rewards of sustainable, long-term major gift fundraising. While gifts may start smaller and take longer, those relationships will last longer, meaning charities have plentiful donor pools for years to come.
Younger donors care less about extravagant events; instead, charities can engage with experiences, one-on-one conversations and visibility of their impact.
Charities that abandon stewardship too early, or use the same approach with younger donors as previous generations, may find they’re left behind. This isn’t just a shift in fundraising strategy, but a shift in how philanthropy operates in the UK.
Wealth screening can help you identify the next generation of donors
On Thursday, 30 April, we’re hosting a free webinar to help you get the most out of it.
Our CEO, Kerry Rock, will answer many of the most commonly asked questions about using wealth screening to identify new donors. We’ll also cover:
– Wealth screening and data protection
– Planning your wealth screening to be GDPR compliant
– Key steps for undertaking a screening
– How to make the most of your screening results
– Convincing colleagues that screening is right for your organisation
Places are going fast, so book now to secure your spot.