They’re Getting Younger
In a recent exhaustive and in-depth study regarding philanthropy, they classify “younger donors” as those in the age range of 40-55. The results of their study are interesting. Important.
They find, for instance, that the age of high net worth individuals is broadening. They’re getting younger. Thirty-two percent of the high net worthers are between the ages of 37 to 55. That’s only slightly less than those above the age of 65.
The study says that these “younger donors” want to know more and more about the results of their gift. They expect frequent reporting and accurate information. They want to know how their donations are being used.
I’ve been preaching this for years. Donors want to know the results of their giving.
According to the study, younger donors “expect much more from their charitable partner.” They want to feel that the donor and the organization are joined at the hip.
This confirms what I’ve been telling you the past several years. Those who give to you feel they are making an investment in your organization.
That’s how they refer to their gift. They call it an investment.
They want to know the results of their investment. What are the dividends?
Attrition is your enemy. If you don’t let donors know on a regular basis the results of their investment, you will lose them. You get what you deserve.
Don’t say I didn’t warn you.