Keeping connected with alumni is much more powerful than you might think – there’s a reason why 98% of Fortune 500 companies have some form of an alumni program. In the business world, knowing the right people in the right places can be an extremely useful tool for all sorts of benefits. Having real and meaningful relationships with established professionals can give access to free resources and informational interviews, helping with promotions or finding the right candidate for your business. Alumni are also invaluable in spreading your brand. Having an engaged alumni can substantially increase brand sentiment and bring in a huge amount of new business.
Early startups and investing is another place where having an alumni network shines. Investors are much more likely to invest in startups created by founders from their alma mater. A study over 19 years of venture capital investments found that 1 in 3 investors and founders attended the same college or university. Having these kinds of connections with early stage investors through alumni networks can help a startup get off the ground.