Chegg Sponsor Breakfast Presentation
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BE THEIR FIRST - The Importance of College Students to Millennial Marketers It’s clear that Millennials stand to make a huge economic impact as they enter their prime working and spending years, but some will have far more earning and spending power than others. While only 4 in 10, 18-24 year-olds are in college, they stand to earn significantly more than their friends who are opting out of higher education. But it’s not just about the money. College students also experience of a lifetime’s worth of ‘firsts’ during their time in school—from the first time living away from home to their first real job. For these young Millennials, it’s a radical time of self-discovery, new challenges, and personal triumphs as they embark on the journey to true independence. Why should marketers double-down on college students and how can they harness these first moments to capture their attention and loyalty? Presenter: Danielle Malloy, Director, Marketing Solutions, Chegg
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Chegg Sponsor Breakfast Presentation
- 1. BE THEIR FIRST The Importance of College Students to Millennial Marketers
- 3. Explore colleges Find scholarships/ financial aid Get ready for college Find a tutor Study and do assignments Learn how to live independently Apply to grad school Find internships/jobs Get Books connects with students from high school through college
- 4. 18-24YOs enrolled in a 2 or 4-year school 4 in 10 National Center for Education Statistics –Back to School Statistics. 2015.
- 5. $48K on average upon graduation they’ll be earning National Center for Education Statistics –Back to School Statistics. 2015.
- 6. making about $1MMmore in their lifetime than those holding only a high school diploma Market Watch. May 18, 2015.
- 7. 72% 67% 59% 62% College Degree Associate's Degree Some College High School 25-34 year-olds who are employed full-time National Center for Education Statistics –Back to School Statistics. 2015.
- 11. Respondent demographics 54% 27% 18% 1% State or public college or university Private college or university Local community college Online college or university Type of School 36% 30% 22% 11% 0% I live in off-campus housing I live at home with my parents I live in a dorm on campus I live in an apartment or… I live in a fraternity/sorority Where I live 42% 58% Gender 16% 54% 30% Yes, I work full time while attending school Yes, I work part time while attending school No, I do not have a job while attending school Work
- 12. Financial Lives are Complex…Yet They Are Resourceful 5% 9% 23% 57% 60% 49% 15% 14% 18% 6% 9% 18% 37% 44% 47% 51% 63% 67% Military benefits Employer reimbursement Working full time Working part time My personal savings and loans My parents or another relative Student loans Scholarship or grant Financial aid Tuition/Books Everyday expenses Base: n=1,049 Q: How are you paying for the following (Select all that apply): 70% increase since 2013
- 13. They are constantly making purchase decisions Base: n=1,049 8% 5% 53% 33% 4% 2% 4% 30% 35% 34% 17% 15% Purchase groceries/snacks Eat at a fast food restaurant Purchase clothes/accessories Attend the movies Purchase music Almost every day Weekly At least once a month Q: How often do you do the following:
- 14. Monthly spending increases as they get older Groceries $70 | $134 Fast Food $28 | $34 Dining Out $29 | $53 Clothing $26 | $32 Movies $8 | $9 Personal Care $28| $39 Travel $18 | $23 Gas $47 | $78 SeniorsFreshmen
- 15. Average monthly spending $262 $408 Freshmen Seniors +55%
- 16. Brand preferences change throughout college Cell phone Laptop Clothing Fast Food Soda Shampoo Deodorant Cosmetics Q: Since graduating high school do you have a new or different… SeniorsFreshman
- 17. College students also offer advice across purchase categories 30% 40% 45% 55% 62%63% 71%71% CarsPersonal finance TravelClothingTV showsMusicRestaurantsTechnology Base: n=1,049 Q: Do friends/family members come to you for advice on these topics? +82% Change since 2013 +72% +111%
- 18. How students feel about brands and ads Brands that are authentic resonate with me 70% 75% I advocate for brands that reward my loyalty 74% I always remember advertising that makes me laugh
- 19. I use Anisha’s Netflix and another friend’s HBO I will pinch pennies in some areas so that I can spend more on the things I really love I get my news from Buzzfeed We go to Starbucks from 2:00-4:00 to get extra stars
- 20. Focus on moments that matter
- 21. First Time Away from Home College Football SAT/ACT Dead Week New Car What college is right for me? Spring Break/Prom First Job Out of College Graduation High School Life College Life Life After School Relocate Internship Search Paying for School Finals Graduation Build Professional Wardrobe Spring Break Studying
- 22. Students never tire of unexpected gifts at unexpected times.
- 32. Confidential Material – Chegg Inc. © 2005 - 2015. All Rights Reserved. View our research at collegemarketing.chegg.com
Notes de l'éditeur
- Graduation rates between 59%-65%
- Those with a college degree earned more than double than those who did not complete high school ($23,900) 62% more than high school completers - NCES Back to School Stats 2015
- National Center for Education Statistics Back to School Statistics 2015
- 75% of millennials say they would like it if brands surprised them more. Source: YPulse Q1 2015 Research. Anything free – food, concerts, makeup, drinks, whatever. I love trying new stuff.