Science speaks: should fundraisers focus on millennials?

If you’re worried about getting young donors, you really need to read this post at Sean Triner’s blog: Are Millennials Really Worth Targeting for Fundraising?

It’s a detailed post, packed with real-world analysis. The conclusion:

There is no measure that I can find anywhere that tells a fundraiser that younger people are a priority over older donors.

The reason: Young donors are not really worth what it costs to get them (in most cases). Older donors are:

• Easier (less expensive) to get in the first place.
  
• More responsive to your subsequent asks.
  
• Retain at a much higher rate.
  
• Are more likely to increase their giving levels.
  
• Are much more likely to include you in their will.
  

This all adds up to long-term values much higher than the long-term values of young donors. The young donors just don’t pencil out. You lose too much money on them.

Sean’s bottom line: Don’t spend your resources seeking millennials unless ALL of these things are true:

• You have exhausted sources of older donors
  
• You following best practice with donor-centric and frequent communications with your donors
  
• You have a great mid value donor program
  
• You have a great legacy/bequest program
  
• You have established a face to face sustainer/monthly giving program
  

Or unless involving younger people is core to your mission. In which case, you probably need to have a core of older donors to subsidize your search for young donors.