Millennials

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Bob Davies, Chief Branding Officer of Candescence, Inc. developed this presentation. Great way to understand differences by generations.

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Millennials

  1. 1. dude...<br />Understanding the <br />Millennial Mindset<br />
  2. 2. We say: why? They say why not?<br />
  3. 3. 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.<br />We will avoid “reinventing the wheel” but also acknowledge that other thought leaders may define their terms differently and bracket the generations slightly differently.<br />Framework:Generations<br />
  4. 4. Live Births by Year<br />Boom<br />Gen-X<br />Gen-Y<br />
  5. 5. Big Picture<br />
  6. 6. Percentage of Total Adults<br />34%<br />Sized between the baby boom and the Gen-X group. They have the numbers, the education, the technology and the attitude to make an impact and like the Baby Boom group, to change the cultural landscape.<br />26%<br />20%<br />19%<br />Gen-X<br />Millennial<br />Traditionals<br />Boomers<br />
  7. 7. Eras and their Icons<br />I got you babe…<br />And it’s so groovy.<br />The revolution is over; be happy<br />Steer clear, <br />this is serious<br />
  8. 8. And so…<br />Boomers…Just do it.<br />Gen-X…why do it?<br />Millennials…Just did it.<br />
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  11. 11. Traditionals<br />The “American Dream”<br />Boy & Girl Scouts<br />Cheerful, upbeat, obedient<br />Deferential to adults and authority<br />Winston Churchill, FDR, WWII<br />Brand Loyal and “Buy American”<br />Work Ethic<br />Conservative and Patriotic<br />Belief in Government, Civic Minded<br />Male Fixated…Father Knows Best<br />Past Oriented<br />Uniformity and Conformity<br />Rational Thinking, Scientific Method<br />Strict Ideas about what is Appropriate<br />The Greatest Generation <br />(won the greatest victories)<br />
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  15. 15. Boomers<br />The post-war baby-boom<br />From hippies to yuppies<br />Grew up in positive and optimistic time<br />Dr. Benjamin Spock recipe for a child<br />Perceive themselves as individuals<br />85% … more meaningful than parents<br />95% grew up with stay-at-home mom<br />Goal: be opposite from parents:<br />Spirituality over science<br />Gratification over patience<br />Individuality over uniformity<br />self- over community<br />Personal growth and self-esteem<br />Stay healthy, fit<br />Greatest consuming generation in history<br />Never trust anyone over thirty.<br />
  16. 16. Before there was <br />Got Milk?<br />There was <br />Got Mom?<br />
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  19. 19. Gen-X<br />13th generation (that’s unlucky)<br />Most aborted generation in history<br />Slackers<br />Increasing divorce rates<br />Latch keyed, neglected & ignored<br />Children less valued by society<br />Skeptical of authority<br />Not threatened by authority<br />Informal dress code<br />Personal determinism, self-reliant<br />Individualized and independent<br />Believe in actions over words<br />Hands-off supervision “I have a life”<br />We are not a <br />“target market”<br />
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  22. 22. Millennials<br />Raised by “soccer moms”<br />Psychologically impacted by danger in world<br />School desks in pods, not rows<br />Birthdays take entire week<br />Everyone gets a trophy (just for showing up)<br />Early education about pollution, environment<br />New breed of feminism, don’t use “f” word<br />Open minded and multi-cultural<br />Get along with and actually like parents<br />Politically active<br />Extreme tech savvy, “digital natives”<br />Resilient and not bothered by set backs<br />Job satisfaction over money or opportunity<br />Need lots of supervision and structure<br />An “echo” generation<br />The re-valuation of the American Child<br />
  23. 23. If 7 is the new 17…<br />Then 27 is <br />also the new 17.<br />
  24. 24. Goals<br />Gen-X<br />Millennials<br />
  25. 25. God<br />72% “more spiritual than religious”<br />65% don’t attend church or religious services<br />67% don’t read Bible or any religious text<br />68% do not mention faith or spiritual life when asked what is important in life.<br />"We have dumbed down what it means to be part of the church so much that it means almost nothing, even to people who already say they are part of the church" (USA Today Survey)<br />
  26. 26. Google<br />Google accounts for 65.1% of all internet searches.<br />Google has 88 Billion searches per month<br />That’s about 3 Billion per day, or 2 Million per second<br />
  27. 27. Gadgets<br />97%<br />94%<br />56%<br />
  28. 28. Geeks<br />
  29. 29. Go Girls<br />
  30. 30. Great Kids<br />It’s not so much about how good you are as much as it is that you just “are.” <br />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 <br />just so darn cute.<br />
  31. 31. Good Guys<br />
  32. 32. Good at influencing…<br />Don Draper<br />PT Barnum<br />Dale Carnegie<br /><<br />><br />
  33. 33. Not The Tube, YouTube<br />In 1965, 80% of 18-49 year-olds in the U.S. could be reached with three :60 second spots.<br />In 2002, it required 117 prime-time spots to do the same.<br />Jim Stengel, <br />Global Marketing Officer, <br />P&G<br />
  34. 34. Social Media and the Internet<br /><ul><li> 81% of 18-21 year olds have a profile on a social media website
  35. 35. 31% check it several times per day
  36. 36. 24% have posted a video of themselves online
  37. 37. 59% get their news from the internet
  38. 38. 32% of Millennials have watched a video online in the past 24 hours</li></li></ul><li>The ten things you should know about Millennials…<br />if you want to get along with them, work with them or maybe even sell something to them.<br />
  39. 39. #1: They Aren’t Like You<br />Millennials are more technologically advanced because they are “digital natives.” <br />Translation: they ate MP3 Players for breakfast. They aren’t about to switch to a box of Wheaties and the morning newspaper.<br />Implication: you adapt to them…their media channels, media habits and preferred method of shopping. <br />
  40. 40. #2: Team Oriented<br />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.<br />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.<br />
  41. 41. #3: Conservative & Collegial<br />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.” <br />Implication: Millennials expect marketers to work with them to avoid risk…show them the picture, e-mail something, offer liberal return policies.<br />
  42. 42. #4: Privacy Paradox<br />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.<br />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.<br />
  43. 43. #5: They Like Their Parents<br />There is no “generation gap” or “failure to communicate.” Millennials speak to their parents frequently, eat together often, travel together and seek their advice. <br />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.<br />Implication: parents are at least “silent partners” in their lives as consumers.<br />
  44. 44. #6: They Value Authenticity<br />With all due respect, Mr. Whipple, your compulsive obsessive disorder isn’t going to sell anything to a Millennial.<br />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. <br />Implication: “Your soaking in it” isn’t going to work. Get real. <br />
  45. 45. #7: They’re Programmed<br />Dude, here’s the deal…<br />From a very early age, Millennials are programmed, scheduled and committed. Not just committed to the technology, committed to the cause. If you are expecting 70’s style “free-spirits,” they are not that. <br />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. <br />Implication: Fit your product into their plans.<br />
  46. 46. #8: They’re Measured<br />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.<br />They not only accept measurement, they’ve become shrewd users of metrics, benchmarks and universal standards.<br />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.<br />
  47. 47. #9: They’re Privileged<br />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.<br />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.<br />Implication: you will need to ramp it up to impress the Millennial consumer because they also have high expectations of technology and the advancing technology frontier.<br />
  48. 48. #10: They Can Change The World<br />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. <br />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.<br />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).<br />
  49. 49. The Future<br />http://www.youtube.com/watch?v=sIFYPQjYhv8<br />

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