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Millennial powerpoint Presentation Transcript

  • 1. Understanding the Millennial MindsetMarketing to Millennials
  • 2. We say: why? They say why not?Marketing to Millennials
  • 3. Framework: Generations • The seminal work done by William Strauss and Neil Howe has clarified the concept of generational cohorts, cultural eras, the events demarking the specific cohort group and the time banding of cohort groups. • We will avoid “reinventing the wheel” but also acknowledge that other thought leaders may define their terms differently and bracket the generations slightly differently.Marketing to Millennials
  • 4. Live Births by Year Boom Gen-X Gen-YMarketing to Millennials
  • 5. Big PictureCohort A.K.A. Birth Yrs Trigger Characteristics NotablesTraditionals G.I. (early) 1922- Depression Cheerful, Obedient John Kennedy Silent (late) 1944 Conservative J.D. Salinger Greatest Past oriented Walter Cronkite Uniform/Conforming Joe DiMaggio Rational/Scientific Billie GrahamBoomers Woodstock 1945- End of WWII Independent, George Bush Me 1961 Confident, Goal- Bill Clinton Generation Oriented, Value George Foreman Individuality Jay LenoGen-X Slackers 1962- Hostage Diverse, Flexible, Dave Matthews 13th 1979 Crisis Tech adept, Michelle Obama Individualistic Jon Stewart Damien HirstMillennials Y 1980- Columbine Adaptable, Lebron James Echo Boom 2000 Impatient, Tech Prince Harry Digital Savvy, Mutli-taskers, Andy Roddick Learning oriented Gen Next Mark Zuckerburg Marketing to Millennials
  • 6. Percentage of Total Adults 34% Sized between the 26% baby boom and the Gen-X group. 20% They have the numbers, the 19% education, the technology and the attitude to make an impact and like the Baby Boom group, to change the Traditionals Boomers Gen-X Millennial cultural landscape.Marketing to Millennials
  • 7. Eras and their Icons I got you babe… The revolution is Steer clear, And it’s so groovy. over; be happy this is seriousMarketing to Millennials
  • 8. And so… Boomers…Just do it. Gen-X…why do it? Millennials…Just did it.Marketing to Millennials
  • 9. Traditionals The “American Dream” Boy & Girl Scouts Cheerful, upbeat, obedient Deferential to adults and authority Winston Churchill, FDR, WWII Brand Loyal and “Buy American” Work Ethic Conservative and Patriotic Belief in Government, Civic Minded Male Fixated…Father Knows Best Past Oriented The Greatest Generation Uniformity and Conformity (won the greatest victories) Rational Thinking, Scientific Method Strict Ideas about what is AppropriateMarketing to Millennials
  • 10. Marketing to Millennials
  • 11. Marketing to Millennials
  • 12. Boomers The post-war baby-boom From hippies to yuppies Grew up in positive and optimistic time Dr. Benjamin Spock recipe for a child Perceive themselves as individuals 85% … more meaningful than parents 95% grew up with stay-at-home mom Goal: be opposite from parents: • Spirituality over science • Gratification over patience • Individuality over uniformity • self- over community Never trust anyone over thirty. Personal growth and self-esteem Stay healthy, fit Greatest consuming generation in historyMarketing to Millennials
  • 13. Before there was Got Milk? There was Got Mom?Marketing to Millennials
  • 14. Marketing to Millennials
  • 15. Gen-X 13th generation (that’s unlucky) Most aborted generation in history Slackers Increasing divorce rates Latch keyed, neglected & ignored Children less valued by society Skeptical of authority Not threatened by authority Informal dress code Personal determinism, self-reliant Individualized and independent We are not a Believe in actions over words “target market” Hands-off supervision “I have a life”Marketing to Millennials
  • 16. Marketing to Millennials
  • 17. Millennials Raised by “soccer moms” Psychologically impacted by danger in world School desks in pods, not rows Birthdays take entire week Everyone gets a trophy (just for showing up) Early education about pollution, environment New breed of feminism, don’t use “f” word Open minded and multi-cultural Get along with and actually like parents Politically active Extreme tech savvy, “digital natives” Resilient and not bothered by set backs The re-valuation of the American Child Job satisfaction over money or opportunity Need lots of supervision and structure An “echo” generationMarketing to Millennials
  • 18. If 7 is the new 17… Then 27 is also the new 17.Marketing to Millennials
  • 19. Goals Gen-X Millennials Most Important Goal in Life % Most Important Goal in Life % Get Rich 62 Get Rich 81 Be Famous 29 Be Famous 51 Help people who need help 36 Help people who need help 30 Be leaders in their community 33 Be leaders in their community 22 Become more spiritual 31 Become more spiritual 10Marketing to Millennials
  • 20. God "We have dumbed down what it • 72% “more spiritual than religious” means to be part of the church so • 65% don’t attend church or religiousmuch that it means almost nothing, serviceseven to people who already say they • 67% don’t read Bible or any religious text are part of the church" (USA Today Survey) • 68% do not mention faith or spiritual life when asked what is important in life.Marketing to Millennials
  • 21. Google • Google accounts for 65.1% of all internet searches. • Google has 88 Billion searches per month • That’s about 3 Billion per day, or 2 Million per secondMarketing to Millennials
  • 22. Gadgets 97% 94% 56%Marketing to Millennials
  • 23. GeeksMarketing to Millennials
  • 24. Go GirlsMarketing to Millennials
  • 25. Great KidsIt’s not so much about howgood you are as much as it isthat you just “are.”Winning isn’t everythingwhen “everyone is a winner.”Showing up is half the battlefor these kids and theirfamilies. Partly because theyare over-booked but mostlybecause they arejust so darn cute.Marketing to Millennials
  • 26. Good GuysMarketing to Millennials
  • 27. Good at influencing… PT Barnum Dale Carnegie Don Draper < >Marketing to Millennials
  • 28. Not The Tube, YouTube In 1965, 80% of 18-49 In 2002, it year-olds in the U.S. required 117 could be reached with prime-time spots three :60 second spots. to do the same. Jim Stengel, Global Marketing Officer, P&GMarketing to Millennials
  • 29. Social Media and the Internet • 81% of 18-21 year olds have a profile on a social media website • 31% check it several times per day • 24% have posted a video of themselves online • 59% get their news from the internet • 32% of Millennials have watched a video online in the past 24 hoursMarketing to Millennials
  • 30. The ten things you should know about Millennials… if you want to get along with them, work with them or maybe even sell something to them.Marketing to Millennials
  • 31. #1: They Aren’t Like YouMillennials are moretechnologically advancedbecause they are “digitalnatives.”Translation: they ate MP3Players for breakfast. Theyaren’t about to switch to a box ofWheaties and the morningnewspaper.Implication: you adapt tothem…their media channels,media habits and preferredmethod of shopping.Marketing to Millennials
  • 32. #2: Team Oriented Millennials grew up on teams. The soccer team, the family team and the team in the classroom. Their desks are arranged in pods to increase cooperation, not rows to promote efficiency. Because of this, Millennials value equality in the workplace and in life. The good news: they are more likely to accomplish things on a team. The bad news: they will resist going it alone and need more interaction to complete tasks.Marketing to Millennials
  • 33. #3: Conservative & CollegialMillennials are more conservative spiritually, politically, sexually and behaviorally.They achieve all of this without being particularly judgmental. They are moreaccepting of different cultures, customs and personal styles without managing to“color outside the lines” themselves. This is not “The Sixties.”Implication: Millennials expect marketers to work with them to avoid risk…showthem the picture, e-mail something, offer liberal return policies.Marketing to Millennials
  • 34. #4: Privacy Paradox Millennials grew up with their own stuff. Personal devices are just that. And, most didn’t share bedrooms, computers or even TVs with their siblings. But, they did tolerate intrusions such as security cameras, metal detectors and internet spam. Implication: Millennials value their privacy but, paradoxically, engage liberally in social media free space and blogging. Give them the single room and read their blogs.Marketing to Millennials
  • 35. #5: They Like Their ParentsThere is no “generation gap”or “failure to communicate.”Millennials speak to theirparents frequently, eattogether often, travel togetherand seek their advice.Their primary goal is not togain independence from theirparents; to the contrary, theyrely heavily on their parentsfor emotional support, decisionmaking and financial help.Implication: parents are atleast “silent partners” in theirlives.Marketing to Millennials
  • 36. #6: They Value AuthenticityWith all due respect, Mr. Whipple,your compulsive obsessivedisorder isn’t going to sellanything to a Millennial.Millennials grew up with realityshows, a virtual world,cyberspace, the blogosphere andthe digital universe. They knowthe difference between a realityshow and reality. And they knowa cheesy spokesperson whenthey see one.Implication: “Your soaking in it”isn’t going to work. Get real.Marketing to Millennials
  • 37. #7: They’re ProgrammedFrom a very early age, Millennials are Dude, here’sprogrammed, scheduled and the deal…committed. Not just committed to thetechnology, committed to the cause.If you are expecting 70’s style “free-spirits,” they are not that.Millennials grew up following rigidschedules, going from music lessonsto soccer practice to tutoring. They’vehad little in the way of down time andhave mastered multitasking.Millennials aren’t dreamers, they areplanners.Implication: Fit your product into theirplans.Marketing to Millennials
  • 38. #8: They’re MeasuredThey’ve been measured from the start. Notjust measured, assessed, benchmarkedand evaluated beginning with their APGARscore and ending with the SAT. Nogeneration has been more measured thanthe Millennials.They not only accept measurement,they’ve become shrewd users of metrics,benchmarks and universal standards.Implication: they accept measurements andmetrics. State your case in quantitativeterms they understand and don’t be afraidto put any marketing claim in numericalcontext.Marketing to Millennials
  • 39. #9: They’re PrivilegedBut they don’t see themselves that way. Whatis still a minor miracle to a boomer or even anX-er is the norm for the Millennial. They grewup with their own computers, cell phones anddevices and so these products have becomebasic necessities, not luxuries. Also, they grewup expecting to replace these items everycouple of years.When asked, the possession of these devices--and the privileges that go with them--areviewed as ordinary, expected and necessitiesfor life in the 21st century.Implication: you will need to ramp it up toimpress a Millennial because they also havehigh expectations of technology and theadvancing technology frontier.Marketing to Millennials
  • 40. #10: They Can Change The WorldReally…well why not? That’s what we’ve taughtthem. And this generation believes they reallycan. Again, not in the way we thought we couldin “The Sixties” but in a more self-less, team-oriented, community-first kind of way. Not theme generation, the planet generation.Millennials are not rebels; they are collaboratorsand they are wired, or wireless with thetechnology to make it happen. This attitude andthe emerging technology is the basis for thesocial media revolution.Implication: tap their selfless energy nottheir self-importance. Millennials canchange organizations, advocate and “go-viral” at the drop of a hat (often wornbackwards).Marketing to Millennials