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
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