Transcript of "8095 - Research by Edelman on Gen Y"
The 8095 Exchange:Gen Ys, their actions surrounding brands andthe dynamics of reverberation.
TROPHY KIDSDIGITAL NATIVESMTV GENERATIONNINTENDO GENERATION LOST GENERATIONMILLENNIALS GEN Y
TROPHY KIDS 8 in 10 Gen Ys say they are satisfied with their lives. -STRATEGYONE SURVEY FOR 8095 ECHO BOOMERS DIGITAL NATIVES MTV GENERATION LOST GENERATION GENERATION Y MILLENNIALS World events in their lives include the global recession, 9/11, 2004 Asiatsunami, Japanese Earthquake, Google and the Facebook phenomenon.
OUR FOCUS: 1980-1995Why Gen Ys matter tomarketers ™ 4
THE AVERAGE AGE OF THE WORLD’S POPULATION IS 28. -CIA WORLD FACTBOOK THE OLDEST GEN Ys TURNED 30 THIS YEAR.BY 2015, 47 PERCENT OF THE WORLD’S POPULATION, NEARLY THREE BILLION PEOPLE, WILL BE UNDER THE AGE OF 25. -WORLD BANK 5
Gen-Ys on marketers “Marketers assume we have trouble focusing or staying faithful to brands, as if were always moving on to the “Marketers think we’re young next, bigger thing.” and irresponsible. There are many of us who are advanced - MALE, 21, INDIA in our careers, we’re married, we have kids.” “Marketers think they can wave shiny things in front of us and we will -FEMALE, 26, U.S. follow - not true. With the technology we have, we’re more able to research products before we buy.” -MALE, 24, AUS
A challenge in defining Gen Ys is that they areprogressing through fundamentally different life stages. Life is vastly different from 15 to 30. Adolescence toadulthood, high school to university or the workforce, single to married, becoming parents.
Global POV, Supplemental ongoing focus group • GLOBAL STUDY • 3,100 MILLENNIALS IN EIGHT COUNTRIES • CONDUCTED WITH STRATEGYONE • BRAZIL, CANADA, CHINA, GERMANY, INDIA, ITALY, UNITED KINGDOM, U.S. • SEGMENTED: • MALE AND FEMALE • AGE GROUPS (15-18, 19-24, 25-30) • LIFE STAGES (HS, COLLEGE, YOUNG PROFESSIONALS) • LOCATION (URBAN, SUBURBAN, RURAL) • MOMS AND DADS • 8095 LIVE • ONLINE COMMUNITY OF 500 MILLENNIALS IN THE U.S.
KEY INSIGHTBRANDS AS A PARTNERSHIPAND FORM OF SELF-EXPRESSION
Brands help 8095ers define their personal brand Brand preference is the #1 personal identifier Gen Ys are willing to share online. • 8095ers said they are more willing to share their brand preferences online v than any other piece of personal v information, including their hometown, personal photos, employer name, websites they view and many others. “I “like” brands on Facebook because it posts it on my wall to all my friends so they can see what I like.” - 28-year-old female 12
8095ers: Not as fickle as you may think Brand loyalty is strong overall for 8095ers. Globally, 70 percent of 8095ers say they keep coming back to companies or products that they like. 13
8095ers: Engaging with trusted brands 6 in 10 8095ers will share more personal information with trusted brands. 14
In building brand trust, nothing matters more thanquality, authenticity and integrity.1 in 3 1 in 3 1 in 5depend on brands to say they look for say “give me toolslearn about new brands to make a to help me in othertrends. positive impact on aspects of my life the world. 1 in 5 and I will likely want brands to help switch brands.” them achieve their personal goals.
Information sharing fuels their sense of self Many 8095ers say their happiness increase with each person they share their success stories with. • 8095ers look for information about brands online an average of 7.4 times per month. Gen Y mums led the way at 9.2 times per month.
8095ers are not making brand purchase decisions in silos Half of 8095ers use four or more sources of information to help them make brand purchase decisions. 31 percent use seven or more sources of information.
8095ers: Always on A constant flow of data feeds 8095er thoughts and conversations, and they are rarely disconnected from technology. • 75 percent of 8095ers say they are disconnected for an hour or less every day. • 1 in 7 globally say they are never disconnected (1 in 5 in the U.S. and nearly 1 in 6 in the UK). 19
KEY INSIGHTTAKING ACTION ONBEHALF OF BRANDS IS ACORE VALUE
8095ers: Taking action is a core value THE AVERAGE AGE OF A FIRST TIME MOM IS 25. -MINTEL, US From joining brand sponsored online communities9 in 10 to viewing and recommending videos or news stories, action has become a part of the fabric of social interaction.8095ers take • 20 percent of 8095ers have attended a brand sponsored event within the last 30 days. Of thoseaction on behalf who attended, 65 percent purchased a product featured at the event.of brands online • Nearly 70 percent of Gen Ys recommend theirand offline every favourite products to friends and family.week.
8095ers: I “like” you 8 in 10 8095ers have joined a brand sponsored online group. 1 in 4 have joined seven or more brand groups online.
8095ers: More positive than negative 8095ers want their social networks to know about their brand experiences online. 47 percent of 8095ers write about positive brand experiences online, while 39 percent write about negative experiences.
Opportunities for marketers Help 8095ers help you: 8095ers want to engage directly with brands and will help market your products in exchange for investing in them. Be a source of credible and relevant information: 8095ers don’t make brand decisions without reaching out to multiple sources. Maximise points of reverberation: Open a conversation with 8095ers where they are most likely to share positive experiences with others; from shopping to social networks to brand events. Think beyond digital: While digital is a key channel when targeting 8095ers, offline experiences and word-of-mouth both face to face and via mobile, make a significant impact. High end electronics and fashion brands are not the be all end all: 8095ers will become advocates for brands in all categories if marketers engage them in relevant ways.
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