Challenge of the Millennium:
     Motivating Gen-Y
        Strategies for managers and marketers

                        ...
“Children now love luxury; they
have bad manners, contempt for
authority; they allow disrespect for
elders...they contradi...
Today, We Will...
• Discuss attributes of Millennials
• Examine best practices for
  working with Millennials

• Examine b...
The Millennials


  1977 - 2002
Millennials Matter

• Spending power - $200 billion+
• “Echo-Boomers” - 86 million
• Facebook Election
Researching
Midwestern Millennials
• Online study distributed via Facebook,
  Twitter, Email

• 407 completes, 251 from Mi...
Gen-Next
the next great generation
  iPod generation
              Gen-Why
  Echo Boomers
        Gen-Whine
      Gen-Y   ...
overly assertive
        coddled         entitled
   digital    optimistic narcissistic
       restless      connected
   ...
The Mindset List
                                                 Class of 2003

              • Most of them were born in...
Shaping Events
• Technology: Internet, cell phones
• Entertainment: Reality TV, boy bands
• Violence: 9/11, Columbine, War...
Midwest Millennial:
        Home View
• Believe kids and careers are both possible
• 60% consider themselves religious
• 7...
Midwest Millennial:
         Work View
• They aren’t entrepreneurs -- yet
• Almost half make $50,000+ (household)
• Philan...
Achieve the Balance


     Personal   Financial



        Professional
Motivating
Millennials
 at Work
What attributes, benefits and perks
are important to you?

•   Must Have
•   Like to Have
•   Will Give Up for Right Job
•...
Universal motivators

1. Compensation

2. Health insurance

3. Recognition for a job well done
Enable Impact on
   Company Outcomes

• 23% must-have, 63% like to have
• Eager to accomplish ambitious goals

Manager Tip...
Outline Clear Paths
     to Advancement

• 60% say it’s a must-have
• Opportunity valued over job security


Manager Tip: ...
Allow Access
        to Leadership

• 32% must-have, 59% like to have
• Professional development goes both ways


     Man...
Evolve Your Culture

• Flexible work hours: 25% must-have,
  60% like to have

• Casual dress code, personal space and
  u...
Infuse Authenticity
     in Communications

  • “BS” meters are sensitive
  • Peer opinions are key


Manager Tip: Be clea...
Common Social
        Media Outlets

•   Facebook   • Twitter
•   MySpace    • Flickr
•   LinkedIn   • Blogging
•   YouTube
Keep Social Media Social

• Most consider it a personal space
• Mixed on appropriateness of employer
  researching them


...
LinkedIn Users

• Average Age: 41
• Income: $100K+
• 64% male
• 49% decision makers
Motivating Millennials
          At Work
•   Universal motivators
•   Enable impact on company outcomes
•   Outline clear ...
Marketing to
Millennials
Purchase Drivers
           • Cheap cost with good quality
           • Peer recommendations
           • Fast service/con...
Top 15 Trusted Brands
           •     Apple              •   Target
           •     Trader Joe's       •   H&M clothing ...
Information Sources
• EACH OTHER
• Social Networks
• Texting
• Instant Message
• Magazines
Integrated Marketing
Communications (IMC)
                                           LOY E E S
                           ...
Tolerance for Marketing
• Direct Mail        Most Tolerant

• Email
• Facebook message
• Twitter message
• Text message
• ...
Know if Mail
           Makes Sense
• 73% use coupons from direct mail
• Pay bills via mail vs. internet



Marketer Tip: ...
Give a Reason to Read

• Tolerance is tolerance
• Email needs to evolve



Marketer Tip: Coupons, contests, feedback
Enlist Facebook Fans
            • Reasons for joining fan pages:
                  •      Getting news or product updates...
Spare the Ads
            • 84% notice ads
            • 80% find ads irrelevant
            • 36% never click

          ...
Bolster Customer
    Service with Twitter
• 25% are on Twitter
• Authentic, personalized
  communication

   Marketer Tip:...
B-to-B Marketing
 to Millennials
Help Millennials
         Recommend You

  • Researching you online
  • Make sure you’re there

Marketer Tip: Keep sites f...
Connect on LinkedIn

• Get your foot in the door.
• Position your expertise.

 Marketer Tip: Build a LinkedIn strategy.
Marketing to Millennials
•   Practice integrated marketing communications
•   Know if mail makes sense
•   Give a reason t...
Today We...
• Discussed a snapshot of Millennials
• Examined manager’s tips for
  working with Millennials

• Examined tre...
Thank You
Clara Miller
Morningstar Communications
Email: cmiller@morningstarcomm.com
Twitter: @ClaraMiller
LinkedIn: www.l...
Motivating GenY
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Motivating GenY

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If you haven’t already interacted with Millennials, get ready. They’re coming to an office near you. Contrary to popular belief, Millennials can be great assets. Supported by new research specific to Midwestern Millennials, this presentation identifies strategies for motivating and communicating with GenY-ers—whether they’re your employees or your customers.

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Motivating GenY

  1. 1. Challenge of the Millennium: Motivating Gen-Y Strategies for managers and marketers Clara Miller Greater Kansas City Chamber of Commerce • Business Brainfood March 18, 2009 © 2009 Morningstar Communications
  2. 2. “Children now love luxury; they have bad manners, contempt for authority; they allow disrespect for elders...they contradict their parents and tyrannize their teachers...” - Plato, by Socrates
  3. 3. Today, We Will... • Discuss attributes of Millennials • Examine best practices for working with Millennials • Examine best practices for marketing to Millennials
  4. 4. The Millennials 1977 - 2002
  5. 5. Millennials Matter • Spending power - $200 billion+ • “Echo-Boomers” - 86 million • Facebook Election
  6. 6. Researching Midwestern Millennials • Online study distributed via Facebook, Twitter, Email • 407 completes, 251 from Midwest • Spanned income ranges • Mix of urban and suburban • College degrees
  7. 7. Gen-Next the next great generation iPod generation Gen-Why Echo Boomers Gen-Whine Gen-Y Connecteds millennials personalization generation Trophy Generation Gen-Me
  8. 8. overly assertive coddled entitled digital optimistic narcissistic restless connected future-oriented inclusive energetic diverse ambitious innovative dreamers confident self-centered influential tech-savvy opportunity-driven multi-tasking trendsetters
  9. 9. The Mindset List Class of 2003 • Most of them were born in 1981. • They owned and operated a Trapper-Keeper. • They know what “psych” means. • They can, right now, hum the theme to Inspector Gadget. • They remember when Saturday Night Live was funny. • ET, Gremlins and The Hulk provided their lunch box themes. Beloit University, Mindset List, Class of 2003
  10. 10. Shaping Events • Technology: Internet, cell phones • Entertainment: Reality TV, boy bands • Violence: 9/11, Columbine, Wars in the Middle East • Politics: Clinton scandal, 2000 election uncertainty • Lifestyle: Rise of suburbs, recycling
  11. 11. Midwest Millennial: Home View • Believe kids and careers are both possible • 60% consider themselves religious • 75% participate in philanthropic activities • Live independently, but don’t own homes • 17% are blogging
  12. 12. Midwest Millennial: Work View • They aren’t entrepreneurs -- yet • Almost half make $50,000+ (household) • Philanthropy also is important at work • 64% rely on parents for advice • Satisfied with their jobs and number of hours worked
  13. 13. Achieve the Balance Personal Financial Professional
  14. 14. Motivating Millennials at Work
  15. 15. What attributes, benefits and perks are important to you? • Must Have • Like to Have • Will Give Up for Right Job • Not a Priority
  16. 16. Universal motivators 1. Compensation 2. Health insurance 3. Recognition for a job well done
  17. 17. Enable Impact on Company Outcomes • 23% must-have, 63% like to have • Eager to accomplish ambitious goals Manager Tip: Identify challenges they can help address.
  18. 18. Outline Clear Paths to Advancement • 60% say it’s a must-have • Opportunity valued over job security Manager Tip: Develop and use roadmaps.
  19. 19. Allow Access to Leadership • 32% must-have, 59% like to have • Professional development goes both ways Manager Tip: Foster mentoring.
  20. 20. Evolve Your Culture • Flexible work hours: 25% must-have, 60% like to have • Casual dress code, personal space and upbeat culture also valued Manager Tip: Consider embracing this.
  21. 21. Infuse Authenticity in Communications • “BS” meters are sensitive • Peer opinions are key Manager Tip: Be clear, consistent, customized.
  22. 22. Common Social Media Outlets • Facebook • Twitter • MySpace • Flickr • LinkedIn • Blogging • YouTube
  23. 23. Keep Social Media Social • Most consider it a personal space • Mixed on appropriateness of employer researching them Manager Tip: Use LinkedIn.
  24. 24. LinkedIn Users • Average Age: 41 • Income: $100K+ • 64% male • 49% decision makers
  25. 25. Motivating Millennials At Work • Universal motivators • Enable impact on company outcomes • Outline clear paths to advancement • Allow access to leadership • Modify your culture • Infuse authenticity in communications • Keep social media social
  26. 26. Marketing to Millennials
  27. 27. Purchase Drivers • Cheap cost with good quality • Peer recommendations • Fast service/convenience • An “experience” • A little bit on the quirky side Fast Company, 2008
  28. 28. Top 15 Trusted Brands • Apple • Target • Trader Joe's • H&M clothing stores • Jet Blue • Levi's • In-N-Out Burger • Volkswagen • Ben & Jerry's • Converse • Whole Foods • Vitamin Water • Adidas • Red Stripe beer • American Apparel The Consumerist, 2007
  29. 29. Information Sources • EACH OTHER • Social Networks • Texting • Instant Message • Magazines
  30. 30. Integrated Marketing Communications (IMC) LOY E E S EMP D S ON IR I E AT C IC T IN UN M MM D A ” US NK R CO K E TR NE “Y TI LI N Y ON G M E D I A R E L AT I O N S YOUR B R A N D I D E N T I T Y ORGANIZATION TS AD AL CO VE EC ER RT AT MM ISI SP LL NG CO /S O U PO R NG N NS P Y IT TI OR KE SH AR IP KE S M S Y IN FLUENC ER
  31. 31. Tolerance for Marketing • Direct Mail Most Tolerant • Email • Facebook message • Twitter message • Text message • Phone call Least Tolerant
  32. 32. Know if Mail Makes Sense • 73% use coupons from direct mail • Pay bills via mail vs. internet Marketer Tip: “Old school” can still be cool.
  33. 33. Give a Reason to Read • Tolerance is tolerance • Email needs to evolve Marketer Tip: Coupons, contests, feedback
  34. 34. Enlist Facebook Fans • Reasons for joining fan pages: • Getting news or product updates • Having access to promotions • Viewing or downloading music or videos • Submitting opinions • Connecting with other consumers Marketer Tip: Create a fan page. The Participatory Marketing Network, 2009
  35. 35. Spare the Ads • 84% notice ads • 80% find ads irrelevant • 36% never click Marketer Tip: Tread carefully with ads. The Participatory Marketing Network, 2009
  36. 36. Bolster Customer Service with Twitter • 25% are on Twitter • Authentic, personalized communication Marketer Tip: Empower your staff.
  37. 37. B-to-B Marketing to Millennials
  38. 38. Help Millennials Recommend You • Researching you online • Make sure you’re there Marketer Tip: Keep sites fresh, consider a blog.
  39. 39. Connect on LinkedIn • Get your foot in the door. • Position your expertise. Marketer Tip: Build a LinkedIn strategy.
  40. 40. Marketing to Millennials • Practice integrated marketing communications • Know if mail makes sense • Give a reason to read • Enlist Facebook fans • Spare the ads • Bolster customer service on Twitter • Help Millennials recommend you • Connect on Linked In
  41. 41. Today We... • Discussed a snapshot of Millennials • Examined manager’s tips for working with Millennials • Examined trends in marketing to Millennials
  42. 42. Thank You Clara Miller Morningstar Communications Email: cmiller@morningstarcomm.com Twitter: @ClaraMiller LinkedIn: www.linkedin.com/in/ClaraMiller Blog: www.morningstarcomm.com/ LuminaryBlog.aspx

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