Fu Fund nding ng GenZ nZ and nd M Millennials Presented by: - PDF document

11/14/2018 Fu Fund nding ng GenZ nZ and nd M Millennials • Presented by: The team of Jane Lemke and Keith Babich from CommonBond Get the Scoop Millen ennials and Gen ener eration on Z   Mindset and expectations  Buying choices: perspective and attitudes 1

11/14/2018 Millennials & Generation Z Millenn nnials and nd Gen n Z define ned and nd inf nflue uenc nced M I L L E N N I A L S G E N Z B O R N 1 9 8 1 - 1 9 9 9 1 9 9 9  B O R N S I N C E 2 0 0 0   9 / 1 1  O N O N - D E M A N D C U L T U R E  S O C I A L M E D I A  H I T B Y T H E E C O N O M I C D O W N T U R N  M O B I L E T E C H N O L O G Y  I N C R E A S E D P A R E N T A L A T T E N T I O N O N C H I L D -  S T R U G G L I N G U . S . E C O N O M Y R E A R I N G  M A K E U P T H E M A J O R I T Y O F Y O U R  D I G I T A L N A T I V E S T R A D I T I O N A L S T U D E N T P O P U L A T I O N Beloit oit Coll ollege Ann nnual Mind ndset Class of 2021 and nd 2022 Students in their first and second years of college  First gen for whom a “phone” = a video game, maps, electronic telegraph, and research library  Consider themselves “consumers” of college, who’ve borrowed a lot of $$ to be there  Doubtful they’ve ever heard the high -pitched whine of a dial-up modem  Globalization has always been a powerful fact of life and a source of incessant protest  A movie scene > 2 minutes has always seemed like an eternity  Bill Clinton has always been Hillary Clinton’s aging husband 2

11/14/2018 Experiencing college as a consumer • The class of 2021 and 2022 has borrowed a lot for college. • They consider themselves consumer ers, not just studen ents. • Beyond their studies, college is about who they ey are e and to • which grou oup they ey genuinel ely belon ong. Key differences between Millennials and Gen Z  Attention span  Multi-tasking  Bargain hunters  Independent Higher expectations   Entrepreneurial  Individuality  Global  Trust Short attention span?  Live in a world of continuous updates  What’s relevant?  Process info faster than any prior generation 3

11/14/2018 Short attention span?  Live in a world of continuous updates  What’s relevant?  Process info faster than any prior generation GEN Z Better multi-taskers?  Research, taking notes, etc., all at once Able to shift between work and play easily  GEN Z Better multi-taskers?  Research, taking notes, etc., all at once  Able to shift between work and play easily 4

11/14/2018 Bargain hunters?  More likely to use coupons and click on more advertisements  Conscientious of indebtedness Bargain hunters?  More likely to use coupons and click on more advertisements Conscientious of indebtedness  Millennials Independent?  More likely to go straight into the workforce GEN Z  Online alternatives can be a less expensive option Opportunistic if they recognize a more efficient path to knowledge  5

11/14/2018 Independent?  More likely to go straight into the workforce  Online alternatives can be a less expensive option  Opportunistic if they recognize a more efficient path to knowledge Higher Expectations  Born into a world of tech – “Hey Alexa, Hi Siri”  Demand to feel appreciated  Transparency in process  If it’s not fast, it’s wrong  Little brand loyalty Higher Expectations  Born into a world of tech – “Hey Alexa, Hi Siri”  Demand to feel appreciated  Transparency in process  If it’s not fast, it’s wrong Little brand loyalty  GEN Z 6

11/14/2018 Entrepreneurial?  Want more independent work environments  DIY mentality; info is easily found Entrepreneurial?  Want more independent work environments  DIY mentality; info is easily found GEN Z Individuality? 92% have a digital footprint   Seek uniqueness through brands they choose 7

11/14/2018 Individuality?  92% have a digital footprint  Seek uniqueness through brands they choose GEN Z Global?  Millennials were the first “digital natives”  As more global users come online, Gen Z evolves  Diversity is an expectation Device addiction: 40% self-identified addicts (25% more vs.  Millennials) Both groups expect business to play a positive role in  society & act ethically Global?  Millennials were the first “digital natives” GEN Z  As more global users come online, Gen Z evolves Diversity is an expectation   Device addiction: 40% self-identified addicts (25% more vs. Millennials) MILLEN ENNIALS  Both groups expect business to play a positive role in society & act ethically 8

11/14/2018 Who is more Trusting?  Expect business to do more than seek financial success  Those that engage in issues generations care about are more likely to gain trust and loyalty  Growing up during the recession has created strong feelings about unethical business practices Who is more Trusting?  Expect business to do more than seek financial success GEN Z  Those that engage in issues generations care about are more likely to gain trust and loyalty  Growing up during the recession has created strong feelings about unethical business practices Meeting expectations and wants of Millennials and Gen Z  We’ve established:  Who o they ey are  Differen erences es  What’s important to them  How do we help them make decisions & choices based on who they are? 9

11/14/2018 Companies they choose to engage with • Patagon onia • Everl erlane • TOMS shoe oes • Environmental & • Sustainable, social transparent, pays • 1-for-1 (for every responsibility fair wages pair bought, one pair donated) Thank you Keith Babich Director, Campus Relations keith@commonbond.co 732.358.9350 Jane Lemke Account Manager, Campus Relations Jane.lemke@commonbond.co 646-784-3032 10