"Marketing To Millennials - Don't Phail!" by Joe Koufman from Engauge Digital

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    Notes on slide 1

    Dazed and Confused – Matthew McConaugheyA company that has understood Generational marketing for a long time

    Dazed and Confused – Matthew McConaugheyA company that has understood Generational marketing for a long time

    Helicopter parents

    Socially, Millennials are markedly less cynical than older generations. Unlike many of their Boomer parents, Millennials don’t see government as the problem, they see it as an agent for the public benefit. Only 42% of Millennials agree with the statement, \"When something is run by the government, it is usually inefficient and wasteful“. This compares with agreement 62% overall. In another survey, 63% of 18-29 year olds said they believed the role of government should be to promote the principle of a strong community and policies that expand opportunity and promote prosperity for all, not just a few.

    Not only is this a big diverse cohort, they have enormous purchasing power and their earning power is growing faster than for other age cohorts. In 2006, households headed by persons 18-24 had earnings before taxes of nearly $29,057, up 7.5% 2005-2006 alone. For comparison, U.S. income grew just 1.1% in the same period. What makes these figures even more astonishing is that 18-24 year olds by and large do not have families to support. 43% of 18-24 year olds are college students (National Center for Education Statistics). Less than 10% of 18-24 year old males are married.

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    What do you think when you see the words: Booty Call?24

    Not Suitable for Work24

    Not Safe For Work24

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    We remember the Herbal Essences commercials based on the diner scene in When Harry Met Sally… but they did not move product.New packaging… fresh vernacular24

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    Conservative companies leveraging new communication channels24

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    Chick-fil-A of West Coast – quality food, great service, conservative values (bible verses on wrappers)Millennials respect authenticity even if they don’t always agree…24

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    Gotta constantly change for this one, and small brands cant pull off as well…24

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    Add value to the experience24

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    Bailouts, scandals (Adelphia, Enron, Arthur Anderson) may change how Millennials feelBailouts of GM, Chrysler, banks, etc.First recession the Millennials have experienced (we has gas crisis, dot com bubble, housing bubble, etc.24

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    "Marketing To Millennials - Don't Phail!" by Joe Koufman from Engauge Digital - Presentation Transcript

    1. Marketing to Millennials – Don’t Phail! Joe Koufman VP of Business Development and Marketing
    2. What are Millennials? Born from 1985-2000 (currently ages 9-24) Millennials are the first generation to grow up digital – coming of age in a world where computers, the internet, videogames, and cell phones are common, and where expressing themselves through these tools is the norm. - Jonathan Fanton, President, MacArthur Foundation 2
    3. Agenda • What is Generational Marketing? • Who THEY Are • Why THEY’RE Important • How THEY Changed Media Consumption • Our Field Research • Reaching THEM • Trends for Discussion
    4. SHIFT HAPPENS TRENDS CUSTOMIZE WHAT IS JUST A FAD? GENERATIONAL MARKETING? IMPORTANT PERSPECTIVE YOUTH MARKETING? 4
    5. Don’t Be THAT Guy: “You know what I like about marketing to teenagers? My BRAND keeps getting older, but they stay the same age.” 5
    6. 6
    7. HIGHLY CONNECTED AMBITIOUS LAZY DIGITAL NATIVES, NOT IMMIGRANTS THE FUTURE WHO THEY ARE TREND-SETTERS INFLUENCERS SELF-CENTERED YOUR KIDS SPOILED / CODDLED 7
    8. 8
    9. Protected and Empowered • Protected with car seats, bike helmets, knee pads, etc. • Parents negotiating everything from pre-school to college to employment opportunities • They have been given every choice imaginable, every advantage • They demand choice, personalization, the world on their terms • Passionate desire of parents to bear and raise them • Name their mother as their number one role model, and their family as the most important thing to them 9
    10. Connected • 97% of college students own a computer • 94% own a cell phone • 75% have a Facebook account • 60% own a portable music device • They are using 3-5 pieces of technological equipment at the same time • Not a brand or trend that they don’t know about 10
    11. Accepting and Diverse • Although 80% of Boomers describe themselves as “White”, only 55% of Millennials refer to themselves as “White” • Defined not by color of their skin or religious affiliation, but by the content on their iPod • Acceptant of gay marriage, interracial relationships • Gender differences less pronounced - men interested in fashion, fitness and grooming and women interested in sports, adventures and careers • Enjoy being around people from ethnic or racial groups other than their own (African Americans 92%, Hispanics 89%, Non- Hispanic Whites 96%) 11
    12. Less Religious 12
    13. Less Conservative 13
    14. Trusting of Government 14
    15. YOUR NEXT CUSTOMER BUYING POWER WHY THEY’RE IMPORTANT BUZZ MAKERS INFLUENCERS THE FUTURE 15
    16. Large Population 16
    17. Influential • Involved in all family decisions since about the age of 4 • Influence everything from food choices, family vacations or family vehicles 17
    18. Influence Purchases – Harris Interactive (2007) 18
    19. Buying Power • “Prematurely affluent generation” poised to become the next great luxury consumers • Last year teen spending along totaled $179 billion • Purchased by and for children 4-12 tripled during the 1990’s • Always on the lookout for the newest thing that they want NOW 19
    20. Millennial Generation Spending Power
    21. TIVO SKYPE HULU CHANGES IN YOUTUBE MEDIA CONSUMPTION 138 Channels and nothing on MEDIA SNACKING 21
    22. Changes in Media Behavior • Media snacking and the fragmentation of the media landscape • End of primetime discussion, seeking entertainment in new, shorter formats 22
    23. In 1965, 80% of 18-49 year-olds in the US could be reached with three 60-second TV spots. In 2002, it required 117 prime-time commercials to do the same.” - Jim Stengel, Global Marketing Officer, Proctor & Gamble 23
    24. Top 10 Media that Trigger an Online Search Age MEDIUM 18-24 Magazines 60% TV/Broadcast 45% Newspapers 30% TV / Cable 55% Face-to-Face 49% E-Mail Advertising 37% Direct Mail 26% Radio 31% Internet Advertising 41% Outdoor 16% Source: BIGresearch , July 2007, for the Retail Advertising & Marketing Association (Sample Size: 15,430, age 18+) 24
    25. INTERACTIVE DIGITAL NATIVES, NOT IMMIGRANTS LIVT E IT, NO U E IT S IT’S A LIFESTYLE IT’S NOT JUST A TOOL! 25
    26. 26
    27. A NEW KIND OF SOCIAL ANIMAL FEEDBACK TMI OU EV L TION OF TALKING RELEVANCY OPENNESS CONNECTED INVOLVEMENT 27
    28. 28
    29. 29
    30. Likely to use new communications tools 30
    31. Influencing Behaviors of Other Demographics 31
    32. REACH OUT THROUGH NEW CHANNELS BE IN A SITE, NOT ON A SITE BE AUTHENTIC REACHING KEEPING A PULSE ON TRENDS CHANGE HOW YOU TALK ABOUT YOURSELF 32
    33. Marketing Executives Say: 33
    34. 1. TALK IN A NEW WAY
    35. THE BOOTY CALL
    36. NSFW 36
    37. 37
    38. 2. CHANGE HOW YOU TALK ABOUT YOURSELF
    39. 39
    40. 40
    41. 3. REACH OUT THROUGH NEW CHANNELS
    42. 42
    43. 4. USE THE NETWORK
    44. 44
    45. 5. BE OPEN
    46. 46
    47. 6. BE AUTHENTIC
    48. 48
    49. 7. KEEP A PULSE ON TRENDS
    50. 50
    51. 8. BE IN A SITE, NOT ON A SITE
    52. 52
    53. 53
    54. 54
    55. Ways to reach Millennials: 3. Talk to in a new way 4. Change how you talk about yourself 5. Reach out through new channels 6. Use the network 7. Be open 8. Be authentic 9. Keep a pulse on trends 10.Be in a site, not on a site 55
    56. IMPATIENT ENTITLED WORKFORCE CULTURE CAH LS YOUR EMPLOYEES CONNECTED AMBITIOUS NEED POSITIVE FEEDBACK 56
    57. Changing Corporate America • Because of their life experiences, Millennials have new expectations when entering the work force • Expect company provided PC (76%), mobile phone (48%), internal company instant messaging (50%), access to social networking sites (40%), company provided virtual meetings (42%) • 91% state that being able to work with “newer, innovative technologies” in the workplace would make them more likely to consider a potential job opportunity 57
    58. 58
    59. WHAT HAPPENS NOW?! HOW THE UH OH!! ECONOMIC CRISIS MAY IMPACT THIS GENERATION WAS IT ALL A DREAM? WHAT WILL I DO NEXT? 59
    60. Millennials respect American business 60
    61. 61
    62. 62
    63. Email: jkoufman@engauge.com LinkedIn: LinkedIn.com/in/JoeKoufman Twitter: @GumboShowJoe Text: ‘Engauge’ to 50500 Thank you! 63
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