It’s safe to say COVID-19 has forced the world into digital spaces whether they were ready or not. But what will the impact be for the fundraising community? On this episode of Frontier FM, Matt and Ben explore the latest digital trends, the rise of Gen X donors, and how subscription culture will impact online giving in 2020 and beyond.
You will want to hear this episode if you are interested in...
Matt and Ben give a pandemic update [1:44]
The acceleration of digital in 2020 [3:34]
Embracing Gen X as the next wave of generosity [5:56]
Serving analog people in an increasingly digital world [7:38]
Removing barriers to digital giving [12:04]
The impact of digital trends on charitable giving [14:12]
What creates a successful monthly donor program? [35:30]
The pandemic’s impact on Frontier and the charitable giving landscape [43:44]
The advent of Dark Mode [52:08]
Will Gen X be the source for the next great wave of generosity?
Baby boomers and millennials often dominate the conversation when it comes to targeting age groups for charitable giving. But is Gen X the secret weapon few are talking about? Ben seems to think so and his argument is a solid one. They are currently peak wage earners who grew up before digital but often thrive in digital environments making them prime candidates for print to digital campaigns. And with COVID already forcing most things into a digital space, this could be a huge opportunity to see a philanthropic burst from Gen X.
Follow behaviors instead of technology
The Microsoft Zune was a revolutionary idea. It was also largely a failure. How can both be true? Because even though it was essentially one of the first music streaming services, people couldn’t wrap their minds around not owning the music. Now, nearly everyone has some sort of streaming service. What changed? Ben suggests that while technology moves slowly, society occasionally has “catch up moments” where things become essential that once didn’t make sense. He also suggests that COVID is one of those moments. Digital technology has been around for a long time, but the pandemic has forced people’s behaviors to change causing a massive digital shift.
Finding success with monthly donors
A major digital trend over the last ten years is the subscription model. It creates steady and predictable income for businesses and charities alike. One of the reasons it’s so successful in the charity world is because it takes the burden off of the donor to remember to give. But how do fundraising organizations implement this model successfully? The first thing Ben suggests is to apply his three fundamentals of fundraising: urgency, impact, and accountability. Donors need to feel like they showed up at the right time, that they’re making a difference, and that the organization will handle the funds they receive responsibly. Another great tip Ben offers for acquiring younger monthly donors is having low initial amounts for giving. Giving twenty-five dollars per month might be a big ask for a struggling college student, but five to ten dollars per month will help them feel connected to the cause without breaking the bank.
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