In this episode, we catch up on what’s happening across the fundraising and marketing landscape as we talk through trends we're seeing. From taking a look at who 2022’s top donors were, to a new study that sheds light on donor behavior as we spring forward, and new limitations TikTok is implementing for minors.
Consumer Trends:
Donor Behavior
According to a study published by the University of California at Berkeley’s Center for Human Sleep Science, there is a 10 percent decline in money donated in the days following Daylight Saving Time. The study found that when the clocks spring forward and Americans lose an hour of sleep, they are less generous and less likely to donate.
In a post-pandemic world, volunteerism has seen a steep decline in the United States.
The majority of the top donors reside in California and their median age was 74 years old.
Economic Insights
As inflation continues and there is skepticism about the economy, we are noticing there have been positive signs in the first quarter of 2023, in spite of difficult times. Nonprofits haven't seen the eased inflation rates. Because of inflation and a tight job market, many individuals are looking for higher paying jobs. Nonprofits historically have a hard time with rising wages because they do not have the budget to compete with for-profit organizations. On a positive note, many Americans are feeling more confident about their financial circumstances. This could mean donors who pulled back in 2022 might rethink their giving in 2023.
Digital Trends
As people around the world have watched the TikTok hearings wondering what will come of them, a small, but impactful action has come. Last week, the social media platform announced they will limit screen time to 60 minutes per day for users under the age of 18. Twitter also announced and began censoring violent speech on their platform, much like other social media channels.
In spite of constant changes in the social media landscape, there is an opportunity for nonprofits to leverage LinkedIn to network with one another and engage new donors. LinkedIn has jumped on the AI bandwagon through a new feature called Collaborative Articles. Through this new feature, when you make a post on LinkedIn, this tool will automatically add relevant information and articles to spark a conversation on the topic you posted.
Online shopping was king during the pandemic, but post-pandemic, it still reigns. And not just younger generations, baby boomers account for a large percentage of online sales too. Buy now, pay later subscriptions have also become standard for online shopping. Experts believe that by 2026, more than half of all shoppers will have used a buy now, pay later feature. We’re also noticing that a majority of shoppers are utilizing Amazon for product discovery rather than using Google or Bing.
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