Who are the Millennials?
Upcoming SlideShare
Loading in...5
×
 

Who are the Millennials?

on

  • 1,079 views

The Millennials are affecting the way we sell products and market our businesses. Here a re a few ideas to help reach them.

The Millennials are affecting the way we sell products and market our businesses. Here a re a few ideas to help reach them.

Statistics

Views

Total Views
1,079
Views on SlideShare
1,078
Embed Views
1

Actions

Likes
0
Downloads
43
Comments
0

1 Embed 1

http://www.linkedin.com 1

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Who are the Millennials? Who are the Millennials? Presentation Transcript

  • connected 1980—2000confident practical Who are the Millennials…1980—2000 them? …and how do you sell things to 1980—2000
  • A whole different way of life! Mom—balances checkbook, clips coupons Millennial—online banking, Groupon Mom—calls and talks to businesses Millennial—online service and mobile apps Mom—reads newspapers Millennial—reads everything online
  • Where does everyone fit?• The Greatest Generation (those born before 1928) “saved the world” when it was young, in the memorable phrase of Ronald Reagan. It’s the generation that fought and won World War II.• The Silent Generation describes adults born from 1928 through 1945. Children of the Great Depression and World War II, their “Silent” label refers to their conformist and civic instincts. It also makes for a nice contrast with the noisy ways of the anti-establishment Boomers.
  • • The Baby Boomer label is drawn from the great spike in fertility that began in 1946, right after the end of World War II, and ended almost as abruptly in 1964, around the time the birth control pill went on the market.• Generation X covers people born from 1965 through 1980. The label long ago overtook the first name affixed to this generation, the Baby Bust. GenXers are often depicted as savvy, entrepreneurial loners.
  • And…The Millennial generation refersto the first generation to comeof age in the new millennium.They’ve also been called EchoBoomers; they’re the children ofBaby Boomers.Born between about 1980 and2000About 75 million strong
  • They are digitalFirst generation of digital natives!Their prime trait is increased use of andfamiliarity with communications,media, and digital technologies.The Internet provides instantgratification—and now theyexpect that in other areas oftheir lives, too.
  • They aren’t watching live TV!That expensive 30-second spot in prime time won’t work… 26% of Millennials watch 20+ hours of TV a week vs. 49% of non-Millennials On-demand DVR Millennials non-Millennials Watch on laptop 0 10 20 30 40 50
  • They are confidentThey were raised at themost child-centric time inour history.Soccer moms wereinvented especially for theMillennials – we followedthem around and gavethem everything!
  • “I am the perfect snowflake.”
  • They are connected75% of Millennials have created a profile on asocial networking site, compared with half ofGenXers, 30% of Boomers and 6% of SilentsMillennials gather information on products andservices from more channels—more Millennialsthan non-Millennials report using a mobiledevice while shopping to research products(50% vs. 21%) Barkley 2011
  • Who sleeps with their cell phones? Silent 20 Boomer 50 Gen X 68 Millennials 83 All 57 0 20 40 60 80 100
  • They are social70% of Millennials feel moreexcited when their friendsagree with them aboutwhere to shop, eat and play.They band together in groups to date andsocialize, rather than pairing off.Millennials are more likely to shop with familyand friends than other generational groups.
  • They are open to changeNot your mom’s brand!They are optimistic, and willing togive anything a chance.They are loyal, as long as they havea reason.“Millennials are even more willing to participatein loyalty and reward programs than theirparents, but they expect reward programs to befree, easy and fast.”
  • Open to social change
  • So, how do we reach them?“Millennials can sniffthe hard sell, andthey won’t buy it.”(Mashable, Oct. 2011)
  • They want to be firstThey need the latest and greatest!Piggybacking off the notion that Millennialscrave finding things first, Mountain Dew createdan in-house record label, Green Label Sound, tosimultaneously market the drink and help up-and-coming artists break through.
  • They want to support The Social GoodGreater awareness of cause marketing campaigns, such asDove’s Campaign for Real Beauty (33% vs. 21%) or GapRED (26% vs. 9%)The Pepsi Refresh Project, a $20 million social mediacampaign that encourages people to submit ideas abouthow to refresh their communities, got 61 millionresponses.Pepsi chose to focus on this rather than take part in theSuper Bowl!
  • Companies “have moved from a broadcast model into an engagement model” and they have to think of young people “less as consumers and more as advocates” because this group is interested in what role companies can play in addressing social needs. Jack Leslie, chairman of Weber Shandwick, chairman of the U.S. African Development Foundation18-24% of young people recently surveyed saidthat they would take pay cuts if they knew thattheir company was advocating for social change.
  • “All I can say is that if you still haven’timplemented a cohesive CSR (corporate socialresponsibility) strategy, you’re 10 years behindthe game. And if you’re not starting to ramp upin a meaningful way – to empower yourcustomers to have an impact on issues they careabout—the clock is ticking loudly. It may feel faraway, but the Millennial spending tsunami iscoming, and this generation is going to votewith their dollars. You don’t want to be a lameduck.” Jason Rzepka, Vice President of Public Affairs at MTV
  • They want relationships Talk WITH them, not AT them. Ask what they want, don’t assume it’s the same thing you want to sell. Millennials dont want to be talked at by a brand but instead want to be part of the conversation. "Understanding their priorities helps us market to them, so that were giving a message that is relevant to them.” Sheryl Connelly, Ford consumer trends and futuring manager
  • WITH, not ATOn Twitter, Ford says it has a chance to glimpse at theMillennial mindset and figure out what this generation wants,likes and needs from its products.Ford recognized that the old marketing message—showing offthe engine, the speed, the car body itself—is not working forthe new generation. Millennials arenot as interested as baby boomerswere in a car as a status symbol. Thecar for them is about basic transportation—but adding technology to the car turnsthe car into a “lifestyle enabler” —Ad Age, August 2011
  • Traditional marketing is out!We are wikified!Don’t try to “position” yourself; build a strong,genuine brand and they will decide where it fits.Listen to the buzz—tap into the trending topics insocial media, pay attention to where Millennialsshop, eat and spend time.
  • Case Study of the Ideal Millennial Marketing StrategyTOMSOnline,cause-oriented,conversationalOne-for-One“Happiness Guarantee”Campus events