What to Expect from the Generation Y Consumer The members of Generation Y, born between 1977 and 1994, are breaking onto the retail and communication scene. Public relations practitioners, advertisers and marketers need to recognize, understand, and adapt to this new generation's behavior online and lifestyle choices based on their dependence on social media tools and online networking.
MASSIVE CULTURE CHANGE <ul><li>This generation does NOT live to work, they work to LIVE. They view authority differently; they don’t care if you’re older and wiser, hey, they are “young and energetic and smart.” </li></ul><ul><li>If you want to reach them, you are going to have to be WHERE THEY ARE and be enticing. </li></ul>
Two-Thirds of Marketers Now Use Social Media <ul><li>The evolution of social media has gone from the SOCIAL to the NETWORKING. There is a disconnect between young adults using other tools because frankly, they THINK they shouldn’t need to Think again. </li></ul>
63 percent of companies planned to increase their spending on social media in 2009. The Association of National Advertisers reported this year that 66 percent of marketers have now used social media in some capacity in 2009.Also not surprising, the top platforms being utilized: Facebook (74%), YouTube (65%), Twitter (63%), LinkedIn (60%). Combined, this usage represents significant growth from 2007, when the same survey indicated that just 20 percent of marketers were using social media. That said, social media (including blogs) remains the quickest growing marketing segment, and itís expected to grow to a $3.1 billion industry by 2014. Social Media Budgets Rise
Let’s look at who has been successful at marketing to Gen Y
How do these companies speak to this demographic? <ul><li>Cheap cost </li></ul><ul><li>Good quality </li></ul><ul><li>Fast service </li></ul><ul><li>An “experience” </li></ul>The four areas Gen Y considers before purchasing a product or service:
Gen Y is an “experience” culture. <ul><li>Concerts </li></ul><ul><li>Extreme sporting </li></ul><ul><li>Movies </li></ul><ul><li>Outdoors </li></ul><ul><li>Video games </li></ul><ul><li>Social networking </li></ul><ul><li>Tattoo parlors (36 percent of them have at least one tattoo) </li></ul>
How Do You Earn Respect From Gen Y? BE AUTHENTIC.
A particular slide catching your eye?
Clipping is a handy way to collect important slides you want to go back to later.