Millennials Are Human, Too – Tips for Building Bonds in a Digital World
By Charlotte Muylaert, Marketing Leader, Billhighway
We've been having a lot of talks internally about millennials: many of us are millennials ourselves, as are many of our clients. Here are some takeaways from our partner Billhighway on ways your nonprofit or small business can build bonds with millennials.
News about the Millennial generation has been all over the media of late for a very good reason. This is the year Millennials (ages 18-34) overtake Baby Boomers as the nation’s largest living generation. Understandably, everyone (from major brands like Ford and Pepsi to small businesses and nonprofits) wants to understand this growing generation’s habits and preferences. Similarly, Classy just published a post on ways to inspire Millennials, with advice straight from the source.
Because Billhighway provides automated payment and financial services to more than 4,000 fraternity and sorority chapters on college campuses from coast to coast, we realized that we were perfectly positioned to go directly to the source and find out what matters most to college-age greek system Millennials. With assistance from MJ Marketing, we conducted a survey of 1308 sorority and fraternity members from 48 states. We also facilitated focus groups and then compiled our results in the 2015 National Benchmark Study of greek Millennials.
Here are a few highlights from our soon-to-be-published report:
Create experiences with deep impact
Three fourths of Millennials surveyed say they prefer to spend money on an experience or events over buying an object. Add to that the fear of missing out (FOMO) on events they see on their social networks and the generational mantra that you only live once (YOLO) and you’ve got a group of young people intensely interested in connecting with each other through events that capture their hearts and imaginations.
For 83% of the greek Millennials we surveyed, it was the fun factor that made them want to participate in chapter fundraisers. Whether it’s the Annual Chicago Polar Plunge to benefit Special Olympics or a local Color Run that donates funds to local charities, Millennials are looking for meaningful experiences that they can share with friends in real life (IRL) and on social networks.
The takeaway
If you’re looking to attract Millennials to your cause, create meaningful, energizing events and content that give them ways to share their experiences with friends. Make it easy for your supporters to talk about your event before and after with shareable photos, video clips and mobile friendly engagement opportunities. Barbells for Boobs provides a great example of this. They’re an organization dedicated to raising awareness and funding for the early detection of breast cancer, and just launched their fourth annual Pink Bra Tour to connect with supporters across the country. During the tour, Barbells for Boobs documented personal stories through social media, allowing the online fundraising community to tap into the cause on an emotional level. Check out more from their campaign and other success stories in Classy’s post on compelling nonprofit storytelling.
Make payments (and paybacks) easier
When we asked our greek Millennials about their payment preferences, we found that 84% of students pay for meals with a debit card, 57% carry cash and 47% use a credit card. They were also familiar with payment applications like PayPal, Apple Pay and Chase Quick Pay, each of which is designed to work on a mobile device. Mobile applications are key because while students may or may not carry a debit card or cash, they nearly always (96% of the time) carry their mobile phone when they leave home.
Keep in mind that Millennials aren’t the only age group willing to make on-the-go payments via their mobile device. According the Federal Reserve, 54% of smartphone users age 30-44 and 32% of users age 45-59 reported using mobile payments. Mobile connection is less about age and more about willingness to engage with new technology.
The takeaway
With early adopters concentrated in the West, consider piloting new mobile payment options and solicit feedback if that’s where your target audience is. At the very least, test your payment pages on mobile devices to make sure they’re user-friendly.
Communicate like a digital native
There is no doubt that Millennials are digital natives. They grew up sharing their lives on social media networks like Facebook, Twitter and Instagram. But older generations have also embraced social media as a way to communicate. 87% of Millennials have Facebook accounts, but so do 73% of Gen Xers, 60% of Baby Boomers and 56% of people over age 65. And Gen Xers and Baby Boomers are even more likely to be found on LinkedIn than Millennials. The “connected” generation cannot be defined by birth year alone.
When our greek Millennials post on Facebook about a charity fundraiser their chapter is organizing, their parents, grandparents, brothers and sisters (both biological and within the greek system), and friends from high school will all see it. When they share a fundraising link from Classy, Click & Pledge, or the website of a charity, clicks may come from anyone and anywhere in their social network.
The takeaway
Keep this cross-pollination opportunity in mind as you develop social media strategies for your nonprofit or organization. Make sure photos, videos and links provide your audience with an engaging experience; one they’ll go on to share. For a great example of this, check out how Team Rubicon used personalized engagement to fund Nepal relief efforts.
Look for more ways to engage with the Millennial generation in the full report to be published in August 2015. Visit us at www.billhighway.co.
