Why Millennials are the ideal target market for crowdfunding

The principle of crowdfunding is "the more the better" and it applies to most campaigns. It is a simple principle: The more people who view your crowdfunding page, then the more donors you have. crowdfunding agency This will increase the chances that actual donations will be made. Unfortunately, there's more science to crowdfunding than meets the eye. Crowdfunding is a strategy designed to reach the masses. However, not all masses are created equal. There will always be certain market segments that are more responsive to crowdfunding than others, such as the millennial population.

The ideal market for crowdfunders who are looking to make a difference in the world of crowdsourcing is the millennials, which represent roughly one-fourth of the US population. As a result of their exposure to technology from an early age, millennials are constantly bombarded by branded ads in every format. They have grown to be quite familiar with the commercialization process and are now able to dismiss cliche large-scale marketing strategies as artificial business plans or insincere corporate strategies. This is where crowdfunding comes in. Crowdfunding is an individual process that requires peer-to-peer communication and grassroots marketing (think social media sharing, word-of-mouth marketing, etc.). It's refreshingly different from the overpriced television ads asking people to call 1-800 numbers and "donate immediately." Not to mention, millennials prefer to donate online and are always connected to the internet.

How can one create a "millennial-focused crowdfunding campaign?" Research shows that millennials are more likely than baby boomers to support charitable causes and donate to corporate altruism. These decisions have become part of millennials' identity in a digital age, where causes that they choose to support are more visible to the general public. The question that millennials are asking is "What does my financial support to this cause tell me about myself, my beliefs and my values?" crowdfunding marketing agency

Consider carefully who you want your donors to identify with when creating a crowdfunding campaign. It is important to frame your campaign in a way that millennials are familiar with. Mintel conducted a survey of 2000 millennials and found that education, poverty, and public safety were the most important social issues to them. At 21 percent, mental health and environmental issues were closely followed by the rest. In order to attract more donors from the millennial generation, it is worth incorporating these issues into your crowdfunding campaign. Remember that you cannot expect huge donations from millennials when your campaign targets them as donors. The US Census Bureau data shows that millennial households account for the highest percentage of Americans with less than $25,000 per year and the lowest percentage of households earning over $150,000 each year. In addition, millennials are more likely to donate smaller amounts to multiple causes or missions than to one.