Developing the Generations

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Developing the Generations

  1. 1. Developing the Generations TRG Webinar April 20, 2011
  2. 2. TRG Webinar Contacts Presenter : Keri Mesropov, Vice President, Client Services kmesropov@trgarts.com Facilitator: Derek Duncan, Associate Consultant dduncan@trgarts.com Moderator: Joanne Steller Vice President, Strategic Communications jsteller@trgarts.com2
  3. 3. 3
  4. 4. TRG Studies Transactions 25,000,000 Households 50,000,000 Patron Behaviors4
  5. 5. $ for tickets + $ in donations + Demographic attributes = Trends Profiles Obstacles Opportunities
  6. 6. TRG’s Pilot Project• The spark: – Our work in loyalty development – Research on behavioral differences between generations• The target: TRG’s pilot donor study group – 2010 individual donor households – 16 organizations – 51,300 individual donor households – $75.6 million in donor household revenue for 2010 – Mix of geographic locations nationwide 6
  7. 7. Advocate / Investor Donor Subscriber / Member Multi Ticket Repeat Buyer Ticket New BuyerSingleTicketBuyer 7 Patron Evolution
  8. 8. New Single Ticket Buyer 8 out of 10 New Buyers Exit8 The Unfortunate Reality Today…
  9. 9. Retention secures the loyalty continuum9
  10. 10. Loyal customer as measured by lifetime value10
  11. 11. Four Consumer Generations• Traditionalists• Baby Boomers• Generation X• Generation Y 11
  12. 12. Traditionalists12
  13. 13. Baby Boomers13
  14. 14. Gen X14
  15. 15. Gen Y15
  16. 16. Urban Land Institute Finding “Today’s young adults are not getting the attention they deserve.” • 35% of Gen Y are home owners – 2/3 will own in next 5 years • 37% still live at home or in college16
  17. 17. And…Gen Y’s give Recent Millennial Donor Report*• 93% of Gen Y’s surveyed said they gave $$ to non-profits – Small gifts to several organizations• Of those that donated, 58% said largest gift was $150 (Hold this last thought)*Download full report http://millennialdonors.com/research/report 17
  18. 18. A Generational Divide? Younger HHs: 42% U.S. Population Only 17% of Donor HHs18
  19. 19. 2% 15% 45% 38%19
  20. 20. 1% 8% 44% 47% Peaks = Bequeaths, Individual major gifts20
  21. 21. 1% 8% 44% 47% Boomers + Traditionalists 91% of revenue21
  22. 22. 1% 8% 44% 47% Life Stages across generations: Giving rises as age rises.22
  23. 23. Median HH Gift: $1,238 1% 8% 44% 47% $897 $747 $1,207 $1,55723
  24. 24. Finding Opportunity CASE STUDY: Young Patrons. Not donors... YET24
  25. 25. Generation Analysis HelpsIdentify, know more about patrons to:• Target and tailor – Delivery channel – Messaging and offer – Timing• Right-size cultivation by ROI – Invest where YOUR opportunities are. – Mindful of life stage now vs. lifetime remaining 25
  26. 26. Years Remaining to Participate 15 25 35 45 55 65 75 85Traditionalists:Baby Boomers:Gen X:Gen Y:
  27. 27. What’s Next? Questions for your consideration• Traditionalists – Loyal till the end? – And beyond?• Boomers – Retained as they live longer? – Legacy with you? 27
  28. 28. What’s Next? Questions for your consideration• Will Gen X get into you? – Who, how many there now? – What are they doing with you?• Has Gen Y tried you? – Who, and what do they say about you? – Can you go viral on their network? 28
  29. 29. Concluding Thoughts• Retention – Starts with single ticket buyers• Incorporation – Generational analysis• Cultivation – What’s the appropriate approach given generational differences? 29
  30. 30. www.trgarts.comwww.trgarts.blogspot.com

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