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"Marketing To Millennials - Don't Phail!" by Joe Koufman from Engauge Digital

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Joe Koufman - Vice President of Business Development and Marketing for Engauge Digital presented "Marketing to Millennials - Don't Phail!" to the Online Marketing Summit (OMS) in Atlanta on June 10, 2009.

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"Marketing To Millennials - Don't Phail!" by Joe Koufman from Engauge Digital

  1. 1. Marketing to Millennials – Don’t Phail! Joe Koufman VP of Business Development and Marketing
  2. 2. What are Millennials? Born from 1985-2000 (currently ages 9-24) Millennials are the first generation to grow up digital – coming of age in a world where computers, the internet, videogames, and cell phones are common, and where expressing themselves through these tools is the norm. - Jonathan Fanton, President, MacArthur Foundation 2
  3. 3. Agenda • What is Generational Marketing? • Who THEY Are • Why THEY’RE Important • How THEY Changed Media Consumption • Our Field Research • Reaching THEM • Trends for Discussion
  4. 4. SHIFT HAPPENS TRENDS CUSTOMIZE WHAT IS JUST A FAD? GENERATIONAL MARKETING? IMPORTANT PERSPECTIVE YOUTH MARKETING? 4
  5. 5. Don’t Be THAT Guy: “You know what I like about marketing to teenagers? My BRAND keeps getting older, but they stay the same age.” 5
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  7. 7. HIGHLY CONNECTED AMBITIOUS LAZY DIGITAL NATIVES, NOT IMMIGRANTS THE FUTURE WHO THEY ARE TREND-SETTERS INFLUENCERS SELF-CENTERED YOUR KIDS SPOILED / CODDLED 7
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  9. 9. Protected and Empowered • Protected with car seats, bike helmets, knee pads, etc. • Parents negotiating everything from pre-school to college to employment opportunities • They have been given every choice imaginable, every advantage • They demand choice, personalization, the world on their terms • Passionate desire of parents to bear and raise them • Name their mother as their number one role model, and their family as the most important thing to them 9
  10. 10. Connected • 97% of college students own a computer • 94% own a cell phone • 75% have a Facebook account • 60% own a portable music device • They are using 3-5 pieces of technological equipment at the same time • Not a brand or trend that they don’t know about 10
  11. 11. Accepting and Diverse • Although 80% of Boomers describe themselves as “White”, only 55% of Millennials refer to themselves as “White” • Defined not by color of their skin or religious affiliation, but by the content on their iPod • Acceptant of gay marriage, interracial relationships • Gender differences less pronounced - men interested in fashion, fitness and grooming and women interested in sports, adventures and careers • Enjoy being around people from ethnic or racial groups other than their own (African Americans 92%, Hispanics 89%, Non- Hispanic Whites 96%) 11
  12. 12. Less Religious 12
  13. 13. Less Conservative 13
  14. 14. Trusting of Government 14
  15. 15. YOUR NEXT CUSTOMER BUYING POWER WHY THEY’RE IMPORTANT BUZZ MAKERS INFLUENCERS THE FUTURE 15
  16. 16. Large Population 16
  17. 17. Influential • Involved in all family decisions since about the age of 4 • Influence everything from food choices, family vacations or family vehicles 17
  18. 18. Influence Purchases – Harris Interactive (2007) 18
  19. 19. Buying Power • “Prematurely affluent generation” poised to become the next great luxury consumers • Last year teen spending along totaled $179 billion • Purchased by and for children 4-12 tripled during the 1990’s • Always on the lookout for the newest thing that they want NOW 19
  20. 20. Millennial Generation Spending Power
  21. 21. TIVO SKYPE HULU CHANGES IN YOUTUBE MEDIA CONSUMPTION 138 Channels and nothing on MEDIA SNACKING 21
  22. 22. Changes in Media Behavior • Media snacking and the fragmentation of the media landscape • End of primetime discussion, seeking entertainment in new, shorter formats 22
  23. 23. In 1965, 80% of 18-49 year-olds in the US could be reached with three 60-second TV spots. In 2002, it required 117 prime-time commercials to do the same.” - Jim Stengel, Global Marketing Officer, Proctor & Gamble 23
  24. 24. Top 10 Media that Trigger an Online Search Age MEDIUM 18-24 Magazines 60% TV/Broadcast 45% Newspapers 30% TV / Cable 55% Face-to-Face 49% E-Mail Advertising 37% Direct Mail 26% Radio 31% Internet Advertising 41% Outdoor 16% Source: BIGresearch , July 2007, for the Retail Advertising & Marketing Association (Sample Size: 15,430, age 18+) 24
  25. 25. INTERACTIVE DIGITAL NATIVES, NOT IMMIGRANTS LIVT E IT, NO U E IT S IT’S A LIFESTYLE IT’S NOT JUST A TOOL! 25
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  27. 27. A NEW KIND OF SOCIAL ANIMAL FEEDBACK TMI OU EV L TION OF TALKING RELEVANCY OPENNESS CONNECTED INVOLVEMENT 27
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  30. 30. Likely to use new communications tools 30
  31. 31. Influencing Behaviors of Other Demographics 31
  32. 32. REACH OUT THROUGH NEW CHANNELS BE IN A SITE, NOT ON A SITE BE AUTHENTIC REACHING KEEPING A PULSE ON TRENDS CHANGE HOW YOU TALK ABOUT YOURSELF 32
  33. 33. Marketing Executives Say: 33
  34. 34. 1. TALK IN A NEW WAY
  35. 35. THE BOOTY CALL
  36. 36. NSFW 36
  37. 37. 37
  38. 38. 2. CHANGE HOW YOU TALK ABOUT YOURSELF
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  40. 40. 40
  41. 41. 3. REACH OUT THROUGH NEW CHANNELS
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  43. 43. 4. USE THE NETWORK
  44. 44. 44
  45. 45. 5. BE OPEN
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  47. 47. 6. BE AUTHENTIC
  48. 48. 48
  49. 49. 7. KEEP A PULSE ON TRENDS
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  51. 51. 8. BE IN A SITE, NOT ON A SITE
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  55. 55. Ways to reach Millennials: 3. Talk to in a new way 4. Change how you talk about yourself 5. Reach out through new channels 6. Use the network 7. Be open 8. Be authentic 9. Keep a pulse on trends 10.Be in a site, not on a site 55
  56. 56. IMPATIENT ENTITLED WORKFORCE CULTURE CAH LS YOUR EMPLOYEES CONNECTED AMBITIOUS NEED POSITIVE FEEDBACK 56
  57. 57. Changing Corporate America • Because of their life experiences, Millennials have new expectations when entering the work force • Expect company provided PC (76%), mobile phone (48%), internal company instant messaging (50%), access to social networking sites (40%), company provided virtual meetings (42%) • 91% state that being able to work with “newer, innovative technologies” in the workplace would make them more likely to consider a potential job opportunity 57
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  59. 59. WHAT HAPPENS NOW?! HOW THE UH OH!! ECONOMIC CRISIS MAY IMPACT THIS GENERATION WAS IT ALL A DREAM? WHAT WILL I DO NEXT? 59
  60. 60. Millennials respect American business 60
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  63. 63. Email: jkoufman@engauge.com LinkedIn: LinkedIn.com/in/JoeKoufman Twitter: @GumboShowJoe Text: ‘Engauge’ to 50500 Thank you! 63

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