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Millennials and Innovation

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More than any previous generation, Millennials expect and demand innovation from brands and employers. This is a generation that grew up during some of the most transformative, technology-led changes in history. For them, game-changing innovation is the norm. Their attitudes and expectations are reshaping marketing, but also the way that brands design experiences, products and services.

Because innovation and Millennials are such a natural fit, Moonshot Labs and FutureCast are collaborating frequently to help brands identify and realize their best opportunities for innovation. This presentation shares some of our thinking about how to build brand love with Millennials through innovation.

Published in: Marketing

Millennials and Innovation

  1. 1. Copyright© 2013 by Barkley. All rights reserved. MILLENNIALS:! THE INNOVATION GENERATION
  2. 2. Mark Logan Unlearn. Reimagine. Innovate. Evolve. 2 #MillennialMKTG @mlogan
  3. 3. 3 80+ MILLION STRONG 25% $1.3 21% OF US POPULATION TRILLION OF DIRECT SPENDING POWER OF CONSUMER DISCRETIONARY PURCHASES
  4. 4. 4 HIP-ENNIAL 29% CLEAN AND GREEN MILLENNIAL 10% MILLENNIAL “MOM” 22% 10% OLD SCHOOL MILLENNIAL 13% GADGET GURU 16% ANTI-MILLENNIALmillennialmarketing.com
  5. 5. 5 1984 FIRST MACINTOSH 2007 FIRST IPHONE The Innovation Generation
  6. 6. 6 Innovations first appear like magic, then quietly disappear into the everyday.
  7. 7. 7 62%DESCRIBE THEMSELVES AS INNOVATIVE 78% TOP 3 26% BELIEVE INNOVATION IS ESSENTIAL! FOR BUSINESS GROWTH PURPOSES OF BUSINESS, AS IMPORTANT AS PROFIT FEEL THEIR ORGANIZATION ENCOURAGES IDEA GENERATION 66% SAY INNOVATION IS KEY IN AN! EMPLOYER OF CHOICE Source: Millennial Innovation Survey, Deloitte, 2013
  8. 8. FutureCast 2014 All Rights Reserved Brand Love
  9. 9. 9 TOMORROW UNIQUENESS REGARD MEANINGFULNESS AWARENESS TODAYCopyright© 2013 by Barkley. All rights reserved.
  10. 10. 10 MILLENNIAL MINDSET DIGITAL CULTURE CONSUMER CULTURE
  11. 11. 11 SIMPLE TRUTHS ABOUT GREAT INNOVATIVE BRANDS
  12. 12. 12 INNOVATIVE BRAND TRUTHS 1 2 3 4 5 ENGAGE EARLY ADOPTERS CREATE EXPERIENCES & ADVENTURES TREAT CONTENT AS BRAND FUEL JOIN THE ‘PARTICIPATION ECONOMY’ EMBRACE EXPERIMENTATION STAND FOR MORE THAN YOUR BOTTOM LINE6
  13. 13. BRAND TRUTH 1 ENGAGE EARLY ADOPTERS 13
  14. 14. 14 MILLENNIALS ARE 2.5x MORE LIKELY TO BE EARLY ADOPTERS OF NEW TECHNOLOGY Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  15. 15. 15 USEFUL IS THE NEW COOL
  16. 16. FutureCast 2014 All Rights Reserved
  17. 17. FutureCast 2014 All Rights Reserved
  18. 18. FutureCast 2014 All Rights Reserved
  19. 19. BRAND TRUTH 2 CREATE EXPERIENCES & ADVENTURES 19
  20. 20. 20 69% OF MILLENNIALS SAY THEY CONSIDER THEMSELVES ADVENTUROUS Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
  21. 21. FutureCast 2014 All Rights Reserved
  22. 22. FutureCast 2014 All Rights Reserved
  23. 23. FutureCast 2014 All Rights Reserved
  24. 24. BRAND TRUTH 3 TREAT CONTENT! AS BRAND FUEL 24
  25. 25. 25 CREATIVE EXCELLENCE CREATIVE EXCELLENCE CONTENT EXCELLENCE™ CREATIVE EXCELLENCE ! TO CONTENT EXCELLENCE™
  26. 26. 26 WHAT IS CONTENT MARKETING?
  27. 27. 27 COMMUNICATION PEOPLE CHOOSE TO SPEND TIME WITH
  28. 28. 28 CONTENT RELATIONSHIPS LOYALTY
  29. 29. 29
  30. 30. 30
  31. 31. BRAND TRUTH 4 JOIN THE! ‘PARTICIPATION ECONOMY’ 31
  32. 32. FutureCast 2014 All Rights Reserved
  33. 33. FutureCast 2014 All Rights Reserved
  34. 34. BRAND TRUTH 5 EMBRACE EXPERIMENTATION 34
  35. 35. FutureCast 2014 All Rights Reserved
  36. 36. FutureCast 2014 All Rights Reserved
  37. 37. FutureCast 2014 All Rights Reserved INNOVATION CONTENT PAID MEDIA SOCIAL FUELING A REACTION EARNED
  38. 38. BRAND TRUTH 6 STAND FOR MORE THAN! YOUR BOTTOM LINE 38
  39. 39. 39 STORYTELLING STORYTELLING STORYLIVING™ STORYTELLING ! TO STORYLIVING™
  40. 40. 40 DOES ANYONE RECOGNIZE THIS GUY?
  41. 41. 41 DO THESE PEOPLE LOOK A BIT MORE FAMILIAR?
  42. 42. 42Copyright© 2013 by Barkley. All rights reserved.
  43. 43. 43Copyright© 2013 by Barkley. All rights reserved.
  44. 44. 44 6 QUESTIONS YOU HAVE TO ASK 1 WHAT IS YOUR BRAND AUTHORITY? 2 WHAT ARE YOUR BIG UNMET CONSUMER NEEDS? 3 WHAT IS THE OPPORTUNITY FOR INNOVATION? 5 HOW ARE YOU CREATING UNIQUENESS? 6 HOW WILL YOU CO-CREATE MEANINGFULNESS? 4 WHAT CAN YOU LEARN BY EXPERIMENTING?
  45. 45. 4545 THANK YOU mlogan@barkleyus.com millennialmarketing.com @mlogan moonshot.barkleyus.com

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