Today’s two hottest words in planned giving are “Baby Boomers.” As the largest generation of American’s comes into retirement age, it is not surprising why. Today there are about 76 million Baby Boomers between the ages of 51 and 69. The potential for this generation to leave a lasting impact through planned gifts is undeniably huge.
But I’d like to suggest that there’s another word that should be considered just as important: “Millennials.” This generation will reach 81 million people age 56 or older by 2036—larger than the baby boom generation we have now.
As a millennial myself, I started to think: Should nonprofits begin cultivating us now? And if so, how can they do it cost effectively?
Christina Attard, guest blogger at Wild Woman fundraising, says Millennials are just starting to acquire assets and make contributions to society. She suggests that planned gifts could be the, “perfect strategy to create serious impact for those who can’t afford a major gift today.”
So you shouldn’t count us Millennials out of your planned giving marketing.
Cultivate now – getting a Millennial behind your mission at an early age and cultivating a relationship is crucial. We may not have outright gifts to give now, but we have time to volunteer and energy to spare. Engage us now and it could mean more money for your organization down the line – maybe even to the finish line of a planned gift.
Meet us where we are – on Facebook and other social media. As a generation with a totally different mindset about online privacy, you can benefit from us tweeting and sharing with our friends how we are involved with your organization and we love you so much. Once you have our support you can be sure that we will not keep it secret. We will tell our friends, only helping the snowball effect.
As Baby Boomers have shown us, it’s important to pay attention to and be prepared for large populations of people who, as they become older, can have a positive impact on your organization.
So, nonprofits wake up to the power of planned gifts, and don’t forget that the Baby Boomers are only the first wave of the largest American generation.
- Posted by Amanda Marcucci