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Millennials vs. Gen-X
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Millennial powerpoint

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Millennial powerpoint

  1. 1. Understanding the Millennial Mindset Marketing to Millennials
  2. 2. We say: why? They say why not? Marketing to Millennials
  3. 3. Framework: Generations • The seminal work done by William Strauss and Neil Howe has clarified the concept of generational cohorts, cultural eras, the events demarking the specific cohort group and the time banding of cohort groups. • We will avoid “reinventing the wheel” but also acknowledge that other thought leaders may define their terms differently and bracket the generations slightly differently. Marketing to Millennials
  4. 4. Live Births by Year Boom Gen-X Gen-Y Marketing to Millennials
  5. 5. Big Picture Cohort A.K.A. Birth Yrs Trigger Characteristics Notables Traditionals G.I. (early) 1922- Depression Cheerful, Obedient John Kennedy Silent (late) 1944 Conservative J.D. Salinger Greatest Past oriented Walter Cronkite Uniform/Conforming Joe DiMaggio Rational/Scientific Billie Graham Boomers Woodstock 1945- End of WWII Independent, George Bush Me 1961 Confident, Goal- Bill Clinton Generation Oriented, Value George Foreman Individuality Jay Leno Gen-X Slackers 1962- Hostage Diverse, Flexible, Dave Matthews 13th 1979 Crisis Tech adept, Michelle Obama Individualistic Jon Stewart Damien Hirst Millennials Y 1980- Columbine Adaptable, Lebron James Echo Boom 2000 Impatient, Tech Prince Harry Digital Savvy, Mutli-taskers, Andy Roddick Learning oriented Gen Next Mark Zuckerburg Marketing to Millennials
  6. 6. Percentage of Total Adults 34% Sized between the 26% baby boom and the Gen-X group. 20% They have the numbers, the 19% education, the technology and the attitude to make an impact and like the Baby Boom group, to change the Traditionals Boomers Gen-X Millennial cultural landscape. Marketing to Millennials
  7. 7. Eras and their Icons I got you babe… The revolution is Steer clear, And it’s so groovy. over; be happy this is serious Marketing to Millennials
  8. 8. And so… Boomers…Just do it. Gen-X…why do it? Millennials…Just did it. Marketing to Millennials
  9. 9. Traditionals The “American Dream” Boy & Girl Scouts Cheerful, upbeat, obedient Deferential to adults and authority Winston Churchill, FDR, WWII Brand Loyal and “Buy American” Work Ethic Conservative and Patriotic Belief in Government, Civic Minded Male Fixated…Father Knows Best Past Oriented The Greatest Generation Uniformity and Conformity (won the greatest victories) Rational Thinking, Scientific Method Strict Ideas about what is Appropriate Marketing to Millennials
  10. 10. Marketing to Millennials
  11. 11. Marketing to Millennials
  12. 12. Boomers The post-war baby-boom From hippies to yuppies Grew up in positive and optimistic time Dr. Benjamin Spock recipe for a child Perceive themselves as individuals 85% … more meaningful than parents 95% grew up with stay-at-home mom Goal: be opposite from parents: • Spirituality over science • Gratification over patience • Individuality over uniformity • self- over community Never trust anyone over thirty. Personal growth and self-esteem Stay healthy, fit Greatest consuming generation in history Marketing to Millennials
  13. 13. Before there was Got Milk? There was Got Mom? Marketing to Millennials
  14. 14. Marketing to Millennials
  15. 15. Gen-X 13th generation (that’s unlucky) Most aborted generation in history Slackers Increasing divorce rates Latch keyed, neglected & ignored Children less valued by society Skeptical of authority Not threatened by authority Informal dress code Personal determinism, self-reliant Individualized and independent We are not a Believe in actions over words “target market” Hands-off supervision “I have a life” Marketing to Millennials
  16. 16. Marketing to Millennials
  17. 17. Millennials Raised by “soccer moms” Psychologically impacted by danger in world School desks in pods, not rows Birthdays take entire week Everyone gets a trophy (just for showing up) Early education about pollution, environment New breed of feminism, don’t use “f” word Open minded and multi-cultural Get along with and actually like parents Politically active Extreme tech savvy, “digital natives” Resilient and not bothered by set backs The re-valuation of the American Child Job satisfaction over money or opportunity Need lots of supervision and structure An “echo” generation Marketing to Millennials
  18. 18. If 7 is the new 17… Then 27 is also the new 17. Marketing to Millennials
  19. 19. Goals Gen-X Millennials Most Important Goal in Life % Most Important Goal in Life % Get Rich 62 Get Rich 81 Be Famous 29 Be Famous 51 Help people who need help 36 Help people who need help 30 Be leaders in their community 33 Be leaders in their community 22 Become more spiritual 31 Become more spiritual 10 Marketing to Millennials
  20. 20. God "We have dumbed down what it • 72% “more spiritual than religious” means to be part of the church so • 65% don’t attend church or religious much that it means almost nothing, services even to people who already say they • 67% don’t read Bible or any religious text are part of the church" (USA Today Survey) • 68% do not mention faith or spiritual life when asked what is important in life. Marketing to Millennials
  21. 21. Google • Google accounts for 65.1% of all internet searches. • Google has 88 Billion searches per month • That’s about 3 Billion per day, or 2 Million per second Marketing to Millennials
  22. 22. Gadgets 97% 94% 56% Marketing to Millennials
  23. 23. Geeks Marketing to Millennials
  24. 24. Go Girls Marketing to Millennials
  25. 25. Great Kids It’s not so much about how good you are as much as it is that you just “are.” Winning isn’t everything when “everyone is a winner.” Showing up is half the battle for these kids and their families. Partly because they are over-booked but mostly because they are just so darn cute. Marketing to Millennials
  26. 26. Good Guys Marketing to Millennials
  27. 27. Good at influencing… PT Barnum Dale Carnegie Don Draper < > Marketing to Millennials
  28. 28. Not The Tube, YouTube In 1965, 80% of 18-49 In 2002, it year-olds in the U.S. required 117 could be reached with prime-time spots three :60 second spots. to do the same. Jim Stengel, Global Marketing Officer, P&G Marketing to Millennials
  29. 29. Social Media and the Internet • 81% of 18-21 year olds have a profile on a social media website • 31% check it several times per day • 24% have posted a video of themselves online • 59% get their news from the internet • 32% of Millennials have watched a video online in the past 24 hours Marketing to Millennials
  30. 30. The ten things you should know about Millennials… if you want to get along with them, work with them or maybe even sell something to them. Marketing to Millennials
  31. 31. #1: They Aren’t Like You Millennials are more technologically advanced because they are “digital natives.” Translation: they ate MP3 Players for breakfast. They aren’t about to switch to a box of Wheaties and the morning newspaper. Implication: you adapt to them…their media channels, media habits and preferred method of shopping. Marketing to Millennials
  32. 32. #2: Team Oriented Millennials grew up on teams. The soccer team, the family team and the team in the classroom. Their desks are arranged in pods to increase cooperation, not rows to promote efficiency. Because of this, Millennials value equality in the workplace and in life. The good news: they are more likely to accomplish things on a team. The bad news: they will resist going it alone and need more interaction to complete tasks. Marketing to Millennials
  33. 33. #3: Conservative & Collegial Millennials are more conservative spiritually, politically, sexually and behaviorally. They achieve all of this without being particularly judgmental. They are more accepting of different cultures, customs and personal styles without managing to “color outside the lines” themselves. This is not “The Sixties.” Implication: Millennials expect marketers to work with them to avoid risk…show them the picture, e-mail something, offer liberal return policies. Marketing to Millennials
  34. 34. #4: Privacy Paradox Millennials grew up with their own stuff. Personal devices are just that. And, most didn’t share bedrooms, computers or even TVs with their siblings. But, they did tolerate intrusions such as security cameras, metal detectors and internet spam. Implication: Millennials value their privacy but, paradoxically, engage liberally in social media free space and blogging. Give them the single room and read their blogs. Marketing to Millennials
  35. 35. #5: They Like Their Parents There is no “generation gap” or “failure to communicate.” Millennials speak to their parents frequently, eat together often, travel together and seek their advice. Their primary goal is not to gain independence from their parents; to the contrary, they rely heavily on their parents for emotional support, decision making and financial help. Implication: parents are at least “silent partners” in their lives. Marketing to Millennials
  36. 36. #6: They Value Authenticity With all due respect, Mr. Whipple, your compulsive obsessive disorder isn’t going to sell anything to a Millennial. Millennials grew up with reality shows, a virtual world, cyberspace, the blogosphere and the digital universe. They know the difference between a reality show and reality. And they know a cheesy spokesperson when they see one. Implication: “Your soaking in it” isn’t going to work. Get real. Marketing to Millennials
  37. 37. #7: They’re Programmed From a very early age, Millennials are Dude, here’s programmed, scheduled and the deal… committed. Not just committed to the technology, committed to the cause. If you are expecting 70’s style “free- spirits,” they are not that. Millennials grew up following rigid schedules, going from music lessons to soccer practice to tutoring. They’ve had little in the way of down time and have mastered multitasking. Millennials aren’t dreamers, they are planners. Implication: Fit your product into their plans. Marketing to Millennials
  38. 38. #8: They’re Measured They’ve been measured from the start. Not just measured, assessed, benchmarked and evaluated beginning with their APGAR score and ending with the SAT. No generation has been more measured than the Millennials. They not only accept measurement, they’ve become shrewd users of metrics, benchmarks and universal standards. Implication: they accept measurements and metrics. State your case in quantitative terms they understand and don’t be afraid to put any marketing claim in numerical context. Marketing to Millennials
  39. 39. #9: They’re Privileged But they don’t see themselves that way. What is still a minor miracle to a boomer or even an X-er is the norm for the Millennial. They grew up with their own computers, cell phones and devices and so these products have become basic necessities, not luxuries. Also, they grew up expecting to replace these items every couple of years. When asked, the possession of these devices-- and the privileges that go with them--are viewed as ordinary, expected and necessities for life in the 21st century. Implication: you will need to ramp it up to impress a Millennial because they also have high expectations of technology and the advancing technology frontier. Marketing to Millennials
  40. 40. #10: They Can Change The World Really…well why not? That’s what we’ve taught them. And this generation believes they really can. Again, not in the way we thought we could in “The Sixties” but in a more self-less, team- oriented, community-first kind of way. Not the me generation, the planet generation. Millennials are not rebels; they are collaborators and they are wired, or wireless with the technology to make it happen. This attitude and the emerging technology is the basis for the social media revolution. Implication: tap their selfless energy not their self-importance. Millennials can change organizations, advocate and “go- viral” at the drop of a hat (often worn backwards). Marketing to Millennials
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