The Fundraising Masterminds Podcast: Episode 80 - “How to Fundraise from Baby Boomers to Gen Z”

Host: Fundraising Masterminds
Hosts: Jim Dempsey and Jason Galicinski
Release Date: February 12, 2025

Introduction

In Episode 80 of The Fundraising Masterminds Podcast, hosts Jim Dempsey and Jason Galicinski delve into the intricate landscape of fundraising across different generational cohorts, from Baby Boomers to Generation Z. Drawing on their collective experience of over 60 years in nonprofit development, they provide actionable insights and strategies tailored to each generation's unique motivations and communication preferences.

Understanding the Generational Spectrum

Jim initiates the discussion by outlining the distinct generational categories relevant to nonprofit fundraising:

• Silent Generation (1928-1945): The oldest segment, typically over 80 years old.
• Baby Boomers (1946-1964): Currently the largest segment of donors.
• Generation X (1965-1980): Focused on authenticity and efficiency.
• Millennials (1981-1996): Value ease of giving and experiential opportunities.
• Generation Z (1997-2009): Emphasize micro-donations and digital engagement.
• Generation Alpha (2010 onwards): Emerging cohort with evolving philanthropic behaviors.

Jim emphasizes, “Never before in our history have we really had such a wide age span” ([04:19]), highlighting the importance of understanding each generation's distinct characteristics to effectively engage them.

Motivations for Giving Across Generations

The hosts explore the underlying motivations that drive each generation to contribute to nonprofits:

• Silent Generation: Trust in authority and consistent giving without needing detailed feedback. Jim shares a personal anecdote, stating, “He trusted the organization, whether it be the church or any nonprofit” ([06:46]).

• Baby Boomers: Skepticism toward authority and a desire for designated giving to ensure impact. Jim notes, “They want to see where our money goes and how it’s used” ([07:55]).

• Generation X: Prefers flexibility and efficiency in their contributions, valuing socially responsible investments. “They want a product done right and a good outcome,” Jim explains ([11:00]).

• Millennials: Seek straightforward, easy donation processes and value experiential giving. “They want experience-based fundraising,” Jim asserts ([33:14]).

• Generation Z: Focus on micro-donations and crowdfunding, with a strong inclination toward activism and entrepreneurial endeavors. Jim observes, “They want to make their little that they can give go as far as possible” ([35:08]).

Notable Quote:

“We need to understand how this all compares,” emphasizes Jason Galasinski as they transition into communication strategies ([17:23]).

Communication Preferences per Generation

Understanding how each generation prefers to receive information is crucial for effective fundraising:

• Silent Generation: Traditional methods such as direct mail, personalized letters, and face-to-face meetings are most effective.

  “Direct mail, the hard copy things, the old traditional methods... are vitally important,” Jim states ([19:05]).

• Baby Boomers: Embrace both traditional communication and emerging technologies like emails and text marketing.

  “I live and die by the text,” Jim shares, highlighting their adoption of newer channels ([20:18]).

• Generation X: Comfortable with email and early social media platforms like Facebook, though they may prefer Instagram over Facebook due to user experience complexities.

  “They are genuine email people,” Jason notes ([21:36]).

• Millennials: Favor email and text marketing with a preference for straightforward, no-frills donation processes. They also engage heavily with platforms like Instagram and TikTok.

  “They prefer email and text marketing,” Jim explains ([22:12]).

• Generation Z: Predominantly engage through mobile apps and digital platforms, embracing challenges and peer-to-peer fundraising efforts.

  “They love digital and social media challenges,” Jim remarks ([36:26]).

Notable Quote:

“If you have an app, then you are speaking my language,” Jim emphasizes the importance of mobile applications in engaging Generation Z ([25:40]).

Customized Giving Options for Each Generation

Tailoring giving options to suit each generation's preferences enhances donor engagement and retention:

• Silent Generation: Personalized communication and legacy giving options, such as wills and trust estates, resonate well.

  “They really had that huge trust factor,” Jim notes ([28:57]).

• Baby Boomers: Legacy-focused opportunities are key, including naming buildings or rooms and estate planning.

  “They want legacy giving programs,” Jim states ([29:33]).

• Generation X: Flexibility in giving through single or recurring donations, and skills-based volunteering.

  “They want cafeteria choices in their giving,” Jim explains ([29:33]).

• Millennials: Simplified, mobile-friendly donation processes and experiential opportunities, such as mission trips or workshops.

  “You need to make the giving as easy as possible,” Jim advises ([34:34]).

• Generation Z: Emphasis on micro-donations, crowdfunding, and digital engagement through challenges and peer initiatives. Incorporating cryptocurrency as a giving option can also appeal to their tech-savvy nature.

  “How can we enable them to give some of those digital assets,” Jim suggests ([30:23]).

Notable Addition: Jason highlights the rising importance of cryptocurrency among younger donors:

“A lot of the Generation Z are becoming wealthy, very young, and using that wealth to start companies,” discussing the potential of digital asset donations ([30:21]).

Effective Communication Strategies

To maximize fundraising effectiveness, nonprofits should employ a multichannel communication approach, tailored to each generation's preferences:

• Segment Donor Lists: Categorize donors by generation alongside gift amount to refine communication strategies.

  “Start categorizing them into the generation,” Jim recommends ([19:04]).

• Utilize Appropriate Mediums:

  • Silent Generation: Direct mail and phone calls.
  • Baby Boomers: Mix of traditional methods with emails/texts.
  • Generation X: Emails and social media engagement.
  • Millennials: Mobile-friendly websites and straightforward online donation processes.
  • Generation Z: Mobile apps, social media challenges, and digital platforms.

• Leverage Technology:

  • Develop user-friendly mobile apps to engage younger donors.
  • Implement automated systems for recurring donations targeting Generation X and Baby Boomers.

Notable Quote:

“Don’t just take one medium... Use direct mail, social media, emails, texts, face-to-face, phone calls... all work,” Jim emphasizes the importance of a diverse communication strategy ([25:34]).

Practical Applications and Best Practices

Jim and Jason provide actionable steps for nonprofit leaders to implement the discussed strategies:

1. Download the Provided PDF: A comprehensive guide summarizing the episode's key points is available for listeners to reference and apply in their fundraising efforts.

2. Segment Your Database: Categorize donors not only by their contribution levels but also by their generational cohort to tailor communication effectively.

3. Adopt Multichannel Communication: Utilize the preferred communication mediums for each generation to enhance engagement and response rates.

4. Customize Giving Options: Offer diverse donation methods that align with each generation's preferences, ensuring ease and relevance in the giving process.

5. Embrace New Technologies: Stay abreast of technological trends, such as cryptocurrency and mobile app development, to tap into emerging donor bases.

Notable Quote:

“You’ve got to segment your partner database in terms of generation,” Jason advises on effective donor management ([37:45]).

Conclusion

Episode 80 of The Fundraising Masterminds Podcast provides a robust framework for understanding and engaging donors across various generations. By recognizing the distinct motivations and communication preferences of each cohort, nonprofit leaders can implement tailored strategies that foster deeper connections and sustained support. The hosts underscore the importance of adaptability and segmentation in today’s diverse fundraising landscape, ensuring that nonprofits can effectively navigate generational shifts and achieve their funding goals.

Notable Call to Action:

“Print out the PDF and put this into your practice and I think you'll see an increase in your giving and how you communicate to people,” Jason encourages listeners as the episode wraps up ([39:13]).

Downloadable Resources:
Listeners are encouraged to scan the QR code provided in the podcast or visit the provided link to download the episode’s PDF summary for ongoing reference and implementation.

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