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Kohl's Department Stores Center for Retailing Excellence Keynote Speaking Event

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On October 2, 2013 I spoke to the University of Wisconsin-Madison at the Kohl's Department Stores Center for Retailing Excellence. Their center is dedicated to nurturing relationships between the …

On October 2, 2013 I spoke to the University of Wisconsin-Madison at the Kohl's Department Stores Center for Retailing Excellence. Their center is dedicated to nurturing relationships between the retail industry and the faculty, staff and students on campus.

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  • 1. Jeff Fromm Co-Author “Marketing to Millennials: Reach the Largest and Most Influential Generation of Consumers Ever.” EVP at Barkley, a fiercely independent ad agency. 1 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 2. #LetsConnect 2 Monday, September 30, 13
  • 3. Let’s talk Millennial expectations. 3 Monday, September 30, 13
  • 4. #settingthebar 4 Monday, September 30, 13
  • 5. The Definition of Brand Value We Knew and Loved DIED. 5 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 6. The OLD Definition Functional + Emotional Brand Value = Σ Price 6 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 7. The NEW Definition of Brand Value Brand Value = Σ Functional, Emotional & Participative Benefits Price 7 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 8. The NEW Definition of Brand Value Brand Value = Σ Functional, Emotional & Participative Benefits Price 7 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 9. MILLENNIAL MINDSET 8 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via respective sites.
  • 10. 9 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 11. 9 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 12. 10 Monday, September 30, 13
  • 13. 11 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 14. The Participation Economy 12 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 15. Creative Excellence to Content Excellence CREATIVE EXCELLENCE CREATIVE CREATIVE EXCELLENCE EXCELLENCE CONTENT EXCELLENCE 13 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 16. 14 Monday, September 30, 13
  • 17. 15 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 18. 15 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 19. Write this down... “Useful is the new COOL!” 16 Monday, September 30, 13
  • 20. So Here Are The Six Rules: 1 Engage early adopters of new technology. 2 Build a listening and participation strategy. 3 Buying into a brand idea is more powerful. 4 Design a sense of adventure and fun into your brand. 5 Embrace disruption. 6 Keep their loyalty. 17 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 21. RULE 1: Engage Early Adopters of New Technology 1 2 3 4 5 6 18 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 22. Millennials are 2.5x more likely to be early adopters of new technology 1 2 3 4 5 6 19 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  • 23. 20 Monday, September 30, 13
  • 24. 21 Monday, September 30, 13
  • 25. 22 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 26. 22 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 27. RULE 2: Build a Listening and Participation Strategy 1 2 3 4 5 6 23 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 28. One-third of Millennials say they like a brand more when the brand uses social media 1 2 3 4 5 6 24 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  • 29. 1 2 3 4 5 6 25 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 30. 1 2 3 4 5 6 26 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 31. 1 2 3 4 5 6 27 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 32. 1 2 3 4 5 6 28 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 33. 1 2 3 4 5 6 29 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 34. 1 2 3 4 5 6 30 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 35. 1 2 3 4 5 6 31 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 36. 1 2 3 4 5 6 32 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 37. 1 2 3 4 5 6 33 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 38. 1 2 3 4 5 6 34 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 39. 1 2 3 4 5 6 35 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: http://weknowgifs.com/wp-content/uploads/2013/03/googly-eyes-meerkat.gif
  • 40. 1 2 3 4 5 6 36 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 41. 1 2 3 4 5 6 37 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 42. Taco Bell Joins The Snap Chat Community 1 2 3 4 5 6 38 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Twitter
  • 43. Taco Bell Shares Secret: Beefy Crunch Burrito is Back 1 2 3 4 5 6 39 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Twitter
  • 44. RULE 3: Buying into a brand idea is more powerful than simply buying a product. 1 2 3 4 5 6 40 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 45. 70% of Millennials are more excited about a decision they’ve made when their friends agree with them. 1 2 3 4 5 6 41 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  • 46. 1 2 3 4 5 6 42 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Warbyparker.com
  • 47. 1 43 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 48. RULE 4: Design a Sense of Adventure and Fun into your Brand 1 2 3 4 5 6 44 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 49. 69% of Millennials say they consider themselves adventurous 1 2 3 4 5 6 45 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  • 50. 46 Monday, September 30, 13
  • 51. 47 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Freebirds Facebook Page
  • 52. 47 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Images via Freebirds Facebook Page
  • 53. RULE 5: Embrace Disruption 1 2 3 4 5 6 48 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 54. 1 2 3 4 5 6 49 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 55. Meet Mike 1 2 3 4 5 6 50 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 56. 51 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 57. 1 2 3 82,693 25,019 10,087,490 4 5 6 52 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Stats of April 23, 2013
  • 58. RULE 6: Keep Their Loyalty 1 2 3 4 5 6 53 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 59. 45% of Millennials will go out of their way to shop at stores offering rewards programs 1 2 3 4 5 6 54 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  • 60. vs. Explicit Loyalty Implicit Loyalty 55 Monday, September 30, 13
  • 61. 1 2 3 4 5 6 56 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13 Image via southwest.com
  • 62. What if you have an iconic brand with an older core audience? 1 2 3 4 5 6 57 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 63. We need to reevaluate how you think of ROI. 58 Monday, September 30, 13
  • 64. 5% 1 EMERGING OPPORTUNITIES 2 20% 3 4 CORE OPPORTUNITIES 75% 5 6 59 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13
  • 65. Storytelling vs. Storydoing 60 Monday, September 30, 13
  • 66. THANK YOU @ JeffFromm | JFromm@barkleyus.com | www.ShareLikeBuy.com 61 Copyright© 2013 by Barkley. All rights reserved. Monday, September 30, 13