This excerpt was originally sourced from Business 2 Community here and was written by Rosemary Melchior. 

When targeting millennials, many nonprofits focus on the best ways to reach them in a changing media landscape with the end goal of increasing donations. But tapping the potential within this audience goes beyond just raising money. There is an opportunity for nonprofits to reach out to this generation in a way that could engage them on a whole new level.

In the same way that millennials value experiences over products, they value donating their time over their dollars. According to the Millennial Impact Report 2015, 77 percent of respondents said that they are more likely to volunteer if they can use their specific skills or expertise to benefit a cause. In addition, millennials are part of a skilled workforce with a sense of social good. In 2014, 82 percent on average reported participation in positive action toward social change.

By focusing solely on money, organisations are looking at only half the picture. Here are three ways nonprofits can focus on creative capital in addition to financial capital when targeting millennials.

Implementing the “Reverse Registry”

Nonprofits should frame their needs within a story instead of a wish list. Instead of asking for money to fix a problem, show the impact of the problem and give millennials an opportunity to take the next step.

In 2011, I launched a social-good project called Underheard in New York with several others. We followed a “reverse registry” – instead of asking for a known solution, we talked about the need it would fill. One of the homeless men participating in the project walked 40 blocks each day to use a library computer. After hearing his story, someone donated a filled MetroCard so he could take the subway, and someone else donated a laptop computer – both wonderful, unanticipated results.

Many companies have adopted the participation economy concept, and nonprofits should too. If nonprofits give up a small amount of control, millennials are apt to feel like they have more ownership over the solution and may even deliver an outside-the-box answer.

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