engaging and cultivating millennials & gen z
TRANSCRIPT
Strategies and Tactics for Connecting with Young Alumni
ENGAGING AND CULTIVATING
MILLENNIALS GEN ZAND
MOST MEMBERS OF THE CLASS OF 2015 WERE BORN IN
1994.
FERRIS BUELLER ANDSLOANE PETERSON
COULD BETHEIR PARENTS.
THEY HAVE GROWN UP WITH
MOBILE DEVICES.
MOBILE PHONES.AS OPPOSED TO
AMAZONHAS NEVER BEEN JUST A
RIVER IN SOUTH AMERICA.
THEY WON’T GO NEAR A RETAILER THAT
DOESN’T HAVE A WEBSITE.
WOMEN HAVE ALWAYS
ON COLLEGE CAMPUSES.
OUTNUMBEREDMEN
MOST HAVE NEVER GONE TO A STORE TO
BUY MUSIC.
85% OWN SMARTPHONES.
MORE THAN 10O TEXTS
ON AVERAGE THEY SEND
PER DAY.
IN FACT, 2/3 WOULD
THAN SPEAK TO SOMEONE ON THE PHONE.
RATHER TEXT
1 IN 5 PROSPECTIVE STUDENTS REMOVE A UNIVERSITY FROM CONSIDERATION BECAUSE OF
A BAD EXPERIENCEON THE INSTITUTION’S WEBSITE.
SOCIAL MEDIAMORE THAN 90% ARE ON
DAILY.(MORE THAN 75% FROM A MOBILE DEVICE.)
MILLENNIALS (BORN 1980–1995)
Digital know how is important, and they expect brand interactions to flex to their experience and context. As gluttons for entertainment and masters of self-expression, millennials conduct much of this activity in digital form.
THE BOTTOM LINE:
MILLENNIALS20–34 YRS.
24.5%
GEN Z< 20 YRS.
25.9%BABY BOOMERS50–68 YRS.
23.6%
GEN X34–49 YRS.
15.4%
SILENTGEN
69+
10.5%
BUT GENERATION Z (<20 YEARS OLD) IS THE
SEGMENT IN THE U.S.
LARGESTPOPULATION
GEN Z DEFINED (BORN 1996–2010)
After watching college students before them graduate with astronomical amounts of student debt and slim job prospects, they have a tendency to decide a career based on its stability. At the same time, the idea that “anyone can be anything” motivates them to explore non-traditional career paths, particularly in entrepreneurship and start-up businesses.
THE BOTTOM LINE:
MILLENNIALSTech Savvy: 2 screens at once
Communicate with text
Curators and Sharers
Now focused
Optimists
Want to be discovered
GEN ZTech Innate: 5 screens at once
Communicate with images
Creators and Collaborators
Future focused
Realists
Want to work for success
WHO THEY ARE TO YOU
YOUR CURRENT STUDENTS & ALUMNI YOUR PROSPECTIVE STUDENTS
MILLENNIALS“IT’S ALL ABOUT ME”
(OR IS IT?)
MILLENNIALS ARE THE MOST ETHNICALLY AND RACIALLY DIVERSE COHORT OF YOUTH IN THE NATION’S HISTORY.
THEY AREFINANCIALLY CONSTRAINED.
Today, at more than $1 trillion, student loans now comprise the largest debt in America, surpassing credit card debt.
BUT THEY HAVE HIGH PURCHASING POWER, WITH AN EMPHASIS ON “EXPERIENCE” OVER “STUFF.”
Despite having financial constraints, Millennials will collectively spend $1.4 trillion annually by 2020, accounting for 30% of U.S. retail sales.
MILLENNIALS ARE PHILANTHROPIC.
75% have made a financial donation; 71% have raised money; 56% have volunteered. Alumni who reported positive experiences with university resources reported higher levels of volunteering and giving.
THEY ARE “OMNICHANNEL” CONSUMERS AND CURATORS AND EXPECT CONTENT TO BE TAILORED TO THEIR NEEDS.
72% want to connect to personalized content across all devices — all 7.1 that they have access to.
MILLENNIALSHOW TO ENGAGE
DIAL UP DIVERSITY IN YOUR MESSAGING.
OF COMMUNITY
OF OPPORTUNITY
OF WAYS TO CONNECT
INVEST IN ENGAGEMENT NOW.
ADMISSIONS
FACULTY
NON-GIVING ALUMNI INTERACTIONS
BE EMOTIONALLYSATISFYING.
RATIONAL
EMOTIONAL
EMPHASIZE ALTERNATIVE FORMS OF GIVING THAT APPEAL TO THEIR
PHILANTHROPIC NATURE.VOLUNTEERING
MENTORING
INCREMENTAL GIFTS MADE VIA DIGITAL PLATFORMS
CRAFT AND DELIVER A SEAMLESS, PERSONALIZED, CHANNEL-AGNOSTIC
BRAND STORY.MINDSET
DIGITAL
EXPERIENCE
MEET GEN Z:THE SOCIAL MEDIA-IMMERSED,
ENTREPRENEURIAL ECONOMIC POWERHOUSE
FOR THIS GROUP, ONE SIZE NEVER FITS ALL.
They appreciate and embrace individuality, and have a strong aversion to being stereotyped or generalized. There is always an exception to the rule.
THEY WANT TO MAKE A DIFFERENCE IN THE WORLD.60% want their jobs to impact the world; 26% regularly volunteer in some capacity.
THEY HAVE AN APPETITE FOR LEARNING, BUT DON’T FEEL THAT COLLEGE DEGREES ARE VERY IMPORTANT.
64% of Gen Zers are considering an advanced college degree (compared to 71% of millennials).
A DIY CULTURE AND ACCESS TO CROWDSOURCING SHAPE GEN Z’S ENTREPRENEURIAL SPIRIT.
72% of high school students want to start a business someday and 76% wish their hobbies would turn into full-time jobs.
THEY HAVE BRIEF ATTENTION SPANS WITH A PREFERENCE FOR “SNACK MEDIA.”
The average attention span is 8 seconds, and 5 is the preferred number of screens for multi-tasking.
THEIR COMMUNICATION STYLE IS VISUAL, EPHEMERAL AND CONSTANT.
Gen Z are drawn to image-based content which self-destructs. They suffer from FOMO (Fear Of Missing Out), so being culturally connected is critical.
THEY PREFER “ANTISOCIAL” NETWORKING.
So far in 2014, 25% of 13- to 17-year-olds abandoned Facebook.
CONNECTING WITH GEN Z
DEMONSTRATE HOW THEY CAN HELP MAKE AN IMPACT
ON THE WORLD.
CONNECT EARLY IN THE COLLEGE SEARCH PROCESS IN THE CHANNELS THEY PREFER.
LET THEM BE CO-CREATORS OF THEIR
EXPERIENCE.
CREATE TINY EXECUTIONS OF YOUR CONTENT.
SPEAK IN IMAGES.
• Private Liberal Arts College
• Founded in 1831
• Located in Granville, Ohio (30 miles east of Columbus)
• 2,100 Undergrads
• 79% students out of state
• 20% first generation students
DENISON FACTS
• Named one of the TOP 10 MOST WIRED COLLEGES in the Country (Huffington Post)
• Most ECONOMICALLY DIVERSE Top Colleges (NYT)
• Recognized by Sustainable Endowment Institute as a “GREEN” COLLEGE
• FAMOUS ALUMNI: Steve Carell, Jennifer Garner, Senator Richard Lugar
DENISON FACTS
A BEAUTIFUL CAMPUS
2013: A NEW CHAPTER BEGINS AT DENISON
NEW PRESIDENT, ADAM WEINBERG – Former president and CEO of World Learning, one of the
premier international education, exchange, and development organizations in the world
– Member of the Council on Foreign Relations and of the Higher Education Working Group on Global Issues
2013: A NEW CHAPTER BEGINS AT DENISON
• NEW VISION• BOLD NEW THINKING• GLOBAL APPROACH TO CHALLENGES AND OPPORTUNITIES
In the past few years we have developed several programs and tactics to increase engagement with graduates:
– BIG RED SOCIETY
– DENISON CLASS DASH
– 5TH AND 10TH REUNION COMMITTEES
– CLASS AGENT PROGRAM (CAP)
But first, we listened...
19 young alumni engaged to determine how giving among young alumni might achieve greater participation.
YOUNG ALUMNI FOCUS GROUP
REASONS FOR NOT GIVING• Tight personal budgets or the mentality that they won’t give until they have significant capacity
• Don’t know where the money is going
• Nothing in it for them
INSIGHTS
• Transparency about gifts
• Want to feel like they are making a difference
• Suggested a more in-depth process to thank them and educate them about the importance of general Annual Fund participation
THIS LED US TO SOME BOLD IDEAS...
TAKEAWAYS
Big Red Society, a branded society for giving and recognition that aims to be dynamic, interactive, purposeful, professional and fun, encourages young alumni from the nine most recently graduated classes, to participate with a gift of $50 to the Denison Annual Fund and to deepen their levels of engagement with the college.
2013: A NEW CHAPTER BEGINS AT DENISON
• 375 donors out of 702 young alumni qualified for Big Red Society
• Average gift size increased steadily (especially for classes 1–5 years out)
–FY 2011. . . . . . .$71
–FY 2013. . . . . .$113
• Annual Fund event in Chicago
• Recognition system that provides e-coupon discount codes for the Denison bookstore for donors
RESULTSBIG RED SOCIETY
2013: A NEW CHAPTER BEGINS AT DENISONTAKEAWAYSBIG RED SOCIETY
• MORE PREVALENT in the communications the Annual Fund sends
• Stronger PRESENCE ONLINE especially with social media
• Maintain REALISTIC EXPECTATIONS and keep an eye out for any positive change in the behavior of young alumni
• MONITOR GIVING RATES and levels of engagement as classes move on toward their 10-year reunions to determine the long-term impact
• Continued focus on CLASS-SPECIFIC STRATEGIES like the Denison Class Dash to keep alumni engaged during non-reunion years
Young alumni from the nine most recently graduated classes compete to see which class has the most donors for a month’s period. We also count those who make a second gift which hopefully boosts overall giving for the fiscal year.
MARCH 2012: 155 donors contributed more than $9,000
FEBRUARY 2013: 118 donors contributed more than $6,000
Class Agents’ social media activity and email significantly helped promote the challenge
RESULTS AND TAKEAWAYSCLASS DASH
COMMITTEESREUNION5&10 YEAR Reunion Committee
Members play a crucial role in the success of Reunion Weekend and the Denison Annual Fund each year.
RESULTS AND TAKEAWAYSREUNION COMMITTEE
• Young alumni are especially willing to step up participation and giving levels for a reunion year. We typically have large reunion committees of 15–20 people for both 5th and 10th reunions each year who can reach out to several hundred members of their classes.
• The more awareness we build during non-reunion years, the more likely classes will not only step up their support for reunion but also sustain giving levels. Classes who have benefited from the implementation of the Class Agent Program have shown stronger giving results as they transition in and out of reunion.
CLASSAGENTprogram
Class Agents are responsible for encouraging members of their class to stay connected with one another and to develop stronger philanthropic support for the college during non-reunion years. They are also the primary force behind the ongoing identity of their class. As a result, their efforts should build fundraising momentum and involvement for the coming years including reunions.
OBJECTIVESCLASS AGENT PROGRAM
CONTACT: Reach out to approximately 10-20 classmates in a given fiscal year
ASK: Solicit a specific pledge amount from each classmate
PROMOTE: Encourage classmates to engage with one another and with Denison
RESULTS: Young alumni enjoy serving as Class Agents
Enables a jump into other volunteer opportunities with the institution
Outreach has benefited the Annual Fund’s fundraising
Expanded Class Agents into some older segments
OVERALL OUR 4 BIG IDEAS ARE MAKING A DIFFERENCE
5-YEAR COMPARISON FOR YOUNG ALUMNI GIVING
1–10 YEARS OUT (AVERAGES)
PARTICIPATION GIFT SIZE
FY ‘10 13% $118
FY ‘11 15% $115
FY ‘12 16% $119
FY ‘13 15% $142
FY ‘14 16% $150
1–5 YEARS OUT (AVERAGES)
PARTICIPATION GIFT SIZE
15% $80
18% $71
19% $80
17% $113
17% $96
BOTTOM LINE: KEY TAKEAWAYSData indicates that much like the personal lives of young alumni, their participation and dollars can COME AND GO OVER TIME.
To establish steadier giving, continue to EMPOWER CLASS AGENTS to secure increased pledges from classmates.
The Annual Fund must also ENGAGE VOLUNTEERS beyond their fundraising duties so they can further develop relationships with their classmates.
QUESTIONS?
THANK YOU