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Tulsa BBB - Millennials - Wired Generation
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Tulsa BBB - Millennials - Wired Generation






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    Tulsa BBB - Millennials - Wired Generation Tulsa BBB - Millennials - Wired Generation Presentation Transcript

    • Demographics of the Millennial Generation
    • Demographics
      The characteristics of a population.
      Primarily used for economics and marketing
    • How do you relate?
      Elvis joins the Army
      Jimi Hendrix dies
      MTV debuts
      Kurt Cobain dies
    • North American Generations
      Generation Birth Year
      World War II 1901-1927
      Silent 1928-1945
      Baby Boom 1946-1964
      Gen X 1965-1981
      Millennial 1982-2002
    • 80 Million
      TV Generation
      Rock and Roll, Beatlemania
      Space Age
      Women’s Rights, Civil Rights
      Lowest formal religion participation
      Pessimistic, cynical
      Late spenders, late investors
    • Aging Hipsters
      “The only generation to have the unique distinction of pissing off both their parents’ and their children’s generations.”
      -Andrew Smith, Author Moondust
    • Generation X
      51 Million
      Working mom
      “The Pill”
      Latch-key kids
      Less connected with peers
      Job “lattice” not job ladder
      Low marketplace loyalty
      Don’t want to be ‘helped’
    • Generation X
      Less connected to family
      Waiting longer to marry, have kids
      More likely to live with parents
      Lower social responsibility
      Invented Casual Friday
      Big box shoppers – want it all in one place
      Retire early
    • Wild and Crazy Guys
      “We're the middle children of history.... no purpose or place.  We have no Great War, no Great Depression.  Our great war is a spiritual war.  Our great depression is our lives.”  ~From the movie Fight Club, about Generation X
    • "They have a short attention span for meaningless marketing messages, but they have a really long attention span for meaningful interaction.” E-Commerce Times
    • The Millennial Generation
      The ‘life span’ population is expected to exceed 100 million Millennials. (80 million boomers)
      First Millennials began graduating from College in 2004
      High School graduating class of 2009 will be the largest in history.
    • Millennials are Special
      Source Millennials Rising
    • Millennial Generation
      Baby on Board
      Play groups
      Title IX
      Team oriented
      Close to peers, close social networks
      Accustomed to seeking assistance
    • Millennial Generation
      Family oriented
      Marry younger than Gen X
      Attend College, but take longer to finish
      Highly traveled
      ‘passion professions’
      Never required to wear a tie to work
      Quick to change jobs
      Civic engagement
    • Millennial Generation
      Heavy media users…but not “traditional” media
      Predicted to be the “Next Greatest Generation”
      Frame current culture more than any other generation
      “A marketers dream!” US News and World Report
    • They are ethnically different than every previous generation.
      38% Non-White
      15% African American
      15% Hispanic
    • If today is your 17th birthday…
      You were 1 when Super Nintendo was released and the CD-ROM was invented.
      You were 5 when the Internet entered almost every home, and PlayStation was released.
      You were 8 when Windows 98 was launched.
      You were 11 when Xbox and GameCube were released and DSL became the norm.
      You will have to volunteer a determined number of hours in order to graduate from high school.
    • Millennials
      Never before has a generation of consumers been so tuned into the opinions of others.
      Pew Research
      Open the door. Invite them in.
    • Buying Power - Today
      $200 Billion Annually.
      More than any other consumer demographic – ever.
      Average US teen spends $102 per week 2006 TRU Study
    • Millennials are ‘Spenders’
      10-20% are already considered ‘compulsive spenders.’ Baylor University
      High education debt. Experian
      More likely to be late with payments Experian
      More likely to stop paying debt Experian
      Average debt for ‘twentysomething’ = $16,120 Experian
    • Wired
      Have never known life without a computer.
      Technology is fundamental. Not ‘gadgets.’
      Most digitally literate generation.
      97% use the internet or some form of wi-fi communication regularly.
      60% on online daily.
      More time spent online than watching TV, listening to radio, reading newspaper etc.
    • Internet is more influential
      49% use the internet to research products and services before they buy. Internet Retailer
      Female millennials will emerge as the predominant market force – using the internet as their buying forum.
      Internet is their ‘voice of authority’
      Internet is their personal ‘big box store’
    • According to a survey by Yahoo! And Carat Interactive Millennials most commonly use the internet to:
      • ‘find out where I can buy something’
      • ‘look for details about products’
      • ‘find out about the latest products’
      • ‘comparison shop’
      • ‘be sure I have accurate information’
    • Born to be Wired
      65% consider the ability to do research on a website as ‘extremely/very important’
      Female Millennials use internet as a ‘resource tool’
      Welcome information ‘push’
      Expect their online experience to be personal, special.
      Seek sites which ‘feel’ like them.
      Like the input of others.
    • What does this mean?
      Our timing is good.
      We have an opportunity to introduce ourselves to the most impactful consumer group in history.
      Their expectations and wishes align with our mission.
      Up and coming business decision makers will be Millennials.
    • It also means…
      Gen X is our now.
      Millennials are our future.
      All marketing efforts should message and target Gen X & Millennials.
      You must aggressively manage websites, internal and external images and messages toward Millennials in order to grow.
      Be innovative with technology…podcast, RSS, ‘push’ content, constant refresh
    • Market with intention
      Explore message placement to reach Gen X & Millennials.
      Look for partnerships with younger groups.
      Seek opportunities to be in front of younger groups.
      Adjust presentations, messages, materials to younger audience.
      Get Hip.
    • It also means…Our Supporters will be different
      Last ‘boomers’ will begin to retire in 2020
      Gen X/Millennials will take on decision-making roles in record numbers.
      Millennials will dominate the workforce by 2015.
      Introducing yourself to younger groups sets up future support.
    • Basic human principles don't change, but demographics and other circumstances do, and so should our responses to them. - Senator Jon Kyl, Arizona