Dave Knox - IEG 2008 Presentation on Youth Marketing

Source - http://www.flickr.com/photos/tatianacardeal/36956189 / Youth is no longer a demographic …it’s a mindset

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

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

GENERATION TRENDS Generation Trends

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
This is a generation of stress AND optimism:
Nearly half of Millenials say their stress level is “very high” or high”. They feel the world is more complicated today.
However, they are optimistic for their future with 71 percent of youth believing they can personally achieve the American Dream
Half of American Youth define the American Dream as “Simply being happy, no matter what I do.”
This is a generation of Wannabe Entrepreneurs and 30 percent expect to own their own business one day.

It’s a “We-volution”:
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.
Examples include Prosper.com in lending, Wikipedia & Yahoo Answers in knowledge and MyFootballClub in sports.

Our lives have become completely digital:
Youth name their computer as the #1 product they cannot live without…ahead of TV and cell phone.
People age 13-24 send over 50 text messages a week
This is a generation of multi-tasking, a generation of never missing a beat and always being connected with the world around them

Social consciousness is on the rise:
69% of young people believe that corporations can make a bigger difference in the world than politicians can.
53% of 14-34 year-old trendsetters bought a product that donated money to a cause.

MOTIVATING FACTORS Motivating Factors My Media Generation Source – Yahoo Truly Madly Deeply Engaged Study

COMMUNITY
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).
This community is created by shared experiences and constant communication (IM, texting, Facebook).
SELF-EXPRESSION
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.
Brands can become a badge for what they stand for.
PERSONALIZATION
Today’s youth demand control. They are used to customizing and personalizing everything in their lives.
They demand products and services that suit their moods and want to live in an on-demand world that they can control.

Entertain them
Don’t try to be something you are not
Put them in control
Re-calibrate your risk tolerance
Leverage the power of your network
RULES OF YOUTH MARKETING

Entertain them:
One of the top traits that makes someone “cool” to youth is a sense of humor. Same thing applies to brands.
Don’t take yourself or your brand too seriously.
You will be fighting for their attention in a world full of distractions. Make it worth their time.

Source (pic) - http://www.flickr.com/photos/lott/356097093/
Don’t try to be something you are not:
Youth crave authenticity…in fact, they demand it
Be a cultural anthropologist to learn their world.
With niche being the new mass, you have to invest time in their communities. You cannot just shove your way in line.
Remember, most of them think they can do better “marketing” than you anyways.

Put them in control:
Give them the tools to embrace your brand.
They are going to take your brand and shape in ways you never imagined. Let them!
Engage them. Enroll them. Befriend them.
Never make the mistake of forgetting them or talking down to them. Remember FedEx Furniture, iPod’s Dirty Secret, and the ComCast Sleeping Cableman.

Source (pic) - http://www.flickr.com/photos/8141591@N05/513073710/
Re-calibrate your risk tolerance:
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.
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.

Source (pic) - http://www.flickr.com/photos/metatron1050/1400813198/sizes/o//
Leverage the power of your network:
Get out there and shake hands.
Never underestimate the power of someone saying “You know, you should really meet…”
Pay it forward and help people out. You never know when that favor will be repaid.
The world is all about connections. Never forget it.

So which brands are doing youth marketing the right way? Source (pic) - http://www.flickr.com/photos/haani/2056702546/sizes/l/

P&G Beauty and Varsity Spirit:
Herbal Essences, Cover Girl and Secret formed a partnership with Varsity Spirit, the largest cheerleading organization in the country
The sponsorship has included a Beauty Lounge at competitions, sampling at summer camps and many other unique programs to connect with this audience.

Procter & Gamble FemCare & HERO:
Protecting You, Protecting Futures is a partnership with UNA-USA to help provide feminine protection and education to girls in Southern Africa.
The HERO Youth Ambassador Program sends 20 teenagers to Africa for the summer to help build schools.

Beinggirl.com:
P&G created a trusted destination for teen girls filled with great content, tools and partnerships.
Reaches over 2MM girls per month and girls spend 16 minutes a visit on the site, 3x longer than MTV.com.
The site is now in 27 countries worldwide.

STA Travel Widgets:
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.

Mackenzie Blue and HarperCollins:
New tween property targeted at girls 8 – 12
Girl friendly and Mom approved
Created by Tina Wells, founder of Buzz Marketing Group

Nike “Under the Radar” Influencers:
Nike has recognized that niche has become the new mass as they reach youth through global influencers.
Nike CEO Mark Parker has tapped his global network of “friends” such as Mr. Carton and Os Gemeos to create under-the-radar campaigns.

Nike iD Studio:
Nike has leveraged the concepts of personalization and self-expression to take sneaker design to a whole new level with their Nike iD concept.
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.

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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Dave Knox - IEG 2008 Presentation on Youth Marketing

by Dave Knox on Mar 11, 2008

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Dave Knox - IEG 2008 Presentation on Youth Marketing — Presentation Transcript