How Milliennials Will Disrupt Consumer Research

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How Milliennials Will Disrupt Consumer Research

  1. 1. HOW MILLENIALS WILL CONSUMER RESEARCH DISRUPTby chris barbee, strategist
  2. 2. Most millennials are now 20-33
  3. 3. The youngest Gen-Y’s are entering this fall.
  4. 4. as a demographic, millennials are distracted, fragmented, & multi-screen veterans
  5. 5. 6 & heavily impacted by group think
  6. 6. 7 54% prefer consensus decision making
  7. 7. 8 rises to 70% when among peers
  8. 8. so what does millennial aging mean for marketers?
  9. 9. What does it mean for traditional research methodologies that...
  10. 10. What does it mean for traditional research methodologies that... rely on consumer attention?
  11. 11. What does it mean for traditional research methodologies that... rely on consumer attention? involve transactional surveys?
  12. 12. What does it mean for traditional research methodologies that... rely on consumer attention? involve transactional surveys? require face-to-face dialogues?
  13. 13. truth bomb
  14. 14. with an estimated $200 Billion in predicted buying power by 2017 we must evolve and fundamentally change our approach to conducting consumer research
  15. 15. but how?
  16. 16. Move from transaction to collaboration
  17. 17. Move from transaction to collaboration Democratize product development
  18. 18. Move from transaction to collaboration Democratize product development Communicate in small bits & think mobile
  19. 19. millennials are the first fully connected generation
  20. 20. they are focused on acquiring experiences and seeking opportunities that permit personal growth
  21. 21. consumer research for millennials must motivate participation
  22. 22. peer dialogue is essential
  23. 23. to mobilize millennials
  24. 24. This will provide a deeper understanding how their efforts drive progress.
  25. 25. adopt gamificationand up-voting features
  26. 26. This will reward quality ideation.
  27. 27. Move from transaction to collaboration Democratize product development Communicate in small bits & think mobile
  28. 28. While millinnials are fragmented
  29. 29. They are more willing than any other generation to contribute thoughts and opinions
  30. 30. organizations that embrace research methodologies that efficiently tap Gen-Y’s willingness to contribute will develop more and better insights
  31. 31. But wait. There’s more.
  32. 32. Organizations that DON’T approach innovation through millennials with an agenda will be more successful
  33. 33. Move from transaction to collaboration Democratize product development Communicate in small bits & think mobile
  34. 34. millennials have short attention spans this isn’t breaking news
  35. 35. To truly engage them in research, formats allowing for participation in short burst MUST BE UTILIZED
  36. 36. think tweet or text-like contributions to develop a qualitative relationship over time
  37. 37. rather than drawn-out focus groups
  38. 38. members of Gen-Y know how to make use of 140 characters
  39. 39. AS WELL AS THE USE OF CAMERA PHONEs TO EXPRESS HOW THEY FEEL
  40. 40. so what’s the point?
  41. 41. Marketers have grown comfortable with research methodologies that aren’t designed for their new millennial target
  42. 42. millennials require greater investment in technologies allowing for rapidfire collaboration
  43. 43. marketers who are quickest to adopt collaborative, multi-tech tools and to understand trends driving shifts in Gen-Y participation will be the quickest to market with offerings designed for (and by)
  44. 44. the largest consumer generation IN HISTORY

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