The Benefits of Alumni Networks

From students to universities and businesses, creating strong networks of influence can lead to positive outcomes. In both higher education and business, alumni have a strong sense of loyalty to their previous affiliations, which is represented by the way 98% of Fortune 500 companies have alumni programs of their own. This is motivated by the return on investment for creating such networks. 

Benefits of alumni networks include a rise in revenue, new product ideas, and employer attractiveness. Businesses that cultivate active alumni see an increase of about 44% in new business as well as a 10% rise in brand sentiment. Alumni have also shown to be brand advocates worth much more than the average customer. 

Furthermore, business-oriented individuals are able to benefit from professional networks through new networking opportunities, helpful informational interviews, assistance in the next career move, chances for promotions, and access to great job candidates for your company. Professional networks provide access to mentors and meaningful relationships as well. Both colleges and corporations put in the effort to create strong alumni networks as colleges can gain more funding while corporations gain access to a larger labor pool, better sales, and a positive evangelist community. 

Alumni networks created in college can also be beneficial outside of the educational environment, such as gaining investment for startups. In fact, founders who went to schools with those in their alumni networks are able to raise more money for their business compared to other entrepreneurs. This shows that the size of an alumni network is one of the main factors in early stage financing. 

Maintaining an engaged alumni network can be tough, but providing important updates, being open to opportunities to reconnect classmates, and sharing your professional expertise at alumni events can help you better leverage your alumni network. Businesses and colleges can establish a motivated alumni network by spotlighting alumni accomplishments, leveraging nostalgia, and creating more networking opportunities. Staying connected with a good alumni network can lead to rewarding opportunities and benefits in the future.