Dave Knox - IEG 2008 Presentation on Youth Marketing

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Presentation from Procter & Gamble Brand Manager Dave Knox (www.hardknoxlife.com) on how to win through Youth Marketing.

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  • Dave Knox - IEG 2008 Presentation on Youth Marketing

    1. Source - http://www.flickr.com/photos/tatianacardeal/36956189 / Youth is no longer a demographic …it’s a mindset
    2. A look at how youth are leading a rapid transformation of how consumers interact and engage with brands Dave Knox Brand Manager Procter & Gamble Youth is no longer a demographic …it’s a mindset
    3. Source (Quote) - http://brandnoise.typepad.com/brand_noise/2008/01/insight-found-i.html Source (Picture) - http://www.flickr.com/photos/localandbitter/1144303177/ “ Looking at Gen Y is not about demographics. It’s about what this generation can tell you about the market as a whole and give you insight as to how the others will behave. Gen Y is only the tip of the spear.” – Brand Noise
    4. GENERATION TRENDS Generation Trends
    5. American Dream according to Teens Source (pic) - http://www.flickr.com/photos/lucidpieces/1407577862/ Source: 2007 Harris Poll, http://www.courier-journal.com/apps/pbcs.dll/article?AID=/20071102/FEATURES/711020314/1010/FEATURES <ul><li>This is a generation of stress AND optimism: </li></ul><ul><li>Nearly half of Millenials say their stress level is “very high” or high”. They feel the world is more complicated today. </li></ul><ul><li>However, they are optimistic for their future with 71 percent of youth believing they can personally achieve the American Dream </li></ul><ul><li>Half of American Youth define the American Dream as “Simply being happy, no matter what I do.” </li></ul><ul><li>This is a generation of Wannabe Entrepreneurs and 30 percent expect to own their own business one day. </li></ul>
    6. <ul><li>It’s a “We-volution”: </li></ul><ul><li>Youth are driving a shift from a “me” culture to a “we” culture where the opinions of the group drive consumer trends, preferences and behaviors. </li></ul><ul><li>Examples include Prosper.com in lending, Wikipedia & Yahoo Answers in knowledge and MyFootballClub in sports. </li></ul>
    7. <ul><li>Our lives have become completely digital: </li></ul><ul><li>Youth name their computer as the #1 product they cannot live without…ahead of TV and cell phone. </li></ul><ul><li>People age 13-24 send over 50 text messages a week </li></ul><ul><li>This is a generation of multi-tasking, a generation of never missing a beat and always being connected with the world around them </li></ul>
    8. <ul><li>Social consciousness is on the rise: </li></ul><ul><li>69% of young people believe that corporations can make a bigger difference in the world than politicians can. </li></ul><ul><li>53% of 14-34 year-old trendsetters bought a product that donated money to a cause. </li></ul>
    9. MOTIVATING FACTORS Motivating Factors My Media Generation Source – Yahoo Truly Madly Deeply Engaged Study
    10. <ul><li>COMMUNITY </li></ul><ul><li>While today’s youth want to stand out and express their individuality, they also strive to feel connected with each other (both locally and globally). </li></ul><ul><li>This community is created by shared experiences and constant communication (IM, texting, Facebook). </li></ul><ul><li>SELF-EXPRESSION </li></ul><ul><li>In the hands of Gen Y, brands get articulated in more ways than the brand itself could ever imagine. Gen Y doesn’t wait for permission to morph a brand. They are constantly seeking ways to have their voices heard and put their stamp of self-expression on products. </li></ul><ul><li>Brands can become a badge for what they stand for. </li></ul><ul><li>PERSONALIZATION </li></ul><ul><li>Today’s youth demand control. They are used to customizing and personalizing everything in their lives. </li></ul><ul><li>They demand products and services that suit their moods and want to live in an on-demand world that they can control. </li></ul>
    11. <ul><li>Entertain them </li></ul><ul><li>Don’t try to be something you are not </li></ul><ul><li>Put them in control </li></ul><ul><li>Re-calibrate your risk tolerance </li></ul><ul><li>Leverage the power of your network </li></ul>RULES OF YOUTH MARKETING
    12. <ul><li>Entertain them: </li></ul><ul><li>One of the top traits that makes someone “cool” to youth is a sense of humor. Same thing applies to brands. </li></ul><ul><li>Don’t take yourself or your brand too seriously. </li></ul><ul><li>You will be fighting for their attention in a world full of distractions. Make it worth their time. </li></ul>
    13. Source (pic) - http://www.flickr.com/photos/lott/356097093/ <ul><li>Don’t try to be something you are not: </li></ul><ul><li>Youth crave authenticity…in fact, they demand it </li></ul><ul><li>Be a cultural anthropologist to learn their world. </li></ul><ul><li>With niche being the new mass, you have to invest time in their communities. You cannot just shove your way in line. </li></ul><ul><li>Remember, most of them think they can do better “marketing” than you anyways. </li></ul>
    14. <ul><li>Put them in control: </li></ul><ul><li>Give them the tools to embrace your brand. </li></ul><ul><li>They are going to take your brand and shape in ways you never imagined. Let them! </li></ul><ul><li>Engage them. Enroll them. Befriend them. </li></ul><ul><li>Never make the mistake of forgetting them or talking down to them. Remember FedEx Furniture, iPod’s Dirty Secret, and the ComCast Sleeping Cableman. </li></ul>
    15. Source (pic) - http://www.flickr.com/photos/8141591@N05/513073710/ <ul><li>Re-calibrate your risk tolerance: </li></ul><ul><li>Innovation requires placing bets. You need to start thinking like a Venture Capitalist when it comes to marketing. Realize that if you place 10 bets, maybe only two of them will be homeruns. </li></ul><ul><li>Getting in this mindset requires you to recognize that by the time you see a wave, it is probably already crashing. If you want to have any hope of catching the next wave, you either have to create it or see it early. </li></ul>
    16. Source (pic) - http://www.flickr.com/photos/metatron1050/1400813198/sizes/o// <ul><li>Leverage the power of your network: </li></ul><ul><li>Get out there and shake hands. </li></ul><ul><li>Never underestimate the power of someone saying “You know, you should really meet…” </li></ul><ul><li>Pay it forward and help people out. You never know when that favor will be repaid. </li></ul><ul><li>The world is all about connections. Never forget it. </li></ul>
    17. So which brands are doing youth marketing the right way? Source (pic) - http://www.flickr.com/photos/haani/2056702546/sizes/l/
    18. <ul><li>P&G Beauty and Varsity Spirit: </li></ul><ul><li>Herbal Essences, Cover Girl and Secret formed a partnership with Varsity Spirit, the largest cheerleading organization in the country </li></ul><ul><li>The sponsorship has included a Beauty Lounge at competitions, sampling at summer camps and many other unique programs to connect with this audience. </li></ul>
    19. <ul><li>Procter & Gamble FemCare & HERO: </li></ul><ul><li>Protecting You, Protecting Futures is a partnership with UNA-USA to help provide feminine protection and education to girls in Southern Africa. </li></ul><ul><li>The HERO Youth Ambassador Program sends 20 teenagers to Africa for the summer to help build schools. </li></ul>
    20. <ul><li>Beinggirl.com: </li></ul><ul><li>P&G created a trusted destination for teen girls filled with great content, tools and partnerships. </li></ul><ul><li>Reaches over 2MM girls per month and girls spend 16 minutes a visit on the site, 3x longer than MTV.com. </li></ul><ul><li>The site is now in 27 countries worldwide. </li></ul>
    21. <ul><li>STA Travel Widgets: </li></ul><ul><li>STA tapped into Self Expression allowing consumers to use custom widgets to share details about their next trip on their desktop, blog or Facebook page. </li></ul>
    22. <ul><li>Mackenzie Blue and HarperCollins: </li></ul><ul><li>New tween property targeted at girls 8 – 12 </li></ul><ul><li>Girl friendly and Mom approved </li></ul><ul><li>Created by Tina Wells, founder of Buzz Marketing Group </li></ul>
    23. <ul><li>Nike “Under the Radar” Influencers: </li></ul><ul><li>Nike has recognized that niche has become the new mass as they reach youth through global influencers. </li></ul><ul><li>Nike CEO Mark Parker has tapped his global network of “friends” such as Mr. Carton and Os Gemeos to create under-the-radar campaigns. </li></ul>
    24. <ul><li>Nike iD Studio: </li></ul><ul><li>Nike has leveraged the concepts of personalization and self-expression to take sneaker design to a whole new level with their Nike iD concept. </li></ul><ul><li>Nike iD enables consumers to design their own shoe online or visit a Nike iD Studio to work with a design consultant to make the perfect pair of shoes. </li></ul>
    25. Any Questions? For a copy of this presentation, visit my blog at www.hardknoxlife.com or email me at [email_address] or [email_address]

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