Published on March 19, 2014
Generation Y The Next Great Generation Created by Kristen Cosentino
First coined by William Straus and Neil Howe in Millennials Rising: The Next Great Generation Sociologist, Kathleen Shaputis labeled Millennials the “boomerang generation” and the “Peter Pan” generation Born in 1980-2000
Delayed “Rites of Passage” into Adulthood Perceived to be “late bloomers” compared to preceding generations Late to move out Late to get a job Late to marry Late to buy a house Late to have first child
Millennials are the largest generation on our planet And as baby boomers taught us… The larger the generation, the greater the influence over social norms, expectations, and behaviors.
Why should we care? Millennials’ spending power is on the rise • By 2018, annual spending power is expected to be 3.39 trillion Source: Oracle
Who are Millennials? What do they like to do? What do they value? What do they buy?
The modern family • Approachable • No topic is off-limits • Honest • Friendly and informal • Humor • Open-minded • Equality
“millennial” celebrities • Original • Confident • Controversial • Independent • “Loud and proud” • Cutting-edge • Unpredictable
Social groups • Loyal • Diverse • Accepting • Open-minded • Equal http://www.fox.com/watch/182414403971
A “Dream Big” mentality 54% want to start a business or have already started one 90% think being an entrepreneur is a state of mind
92% believe success should be measured by more than profit By 2025, 3 out of 4 workers will be millennials 80% want regular feedback from their employers The employee Source: Time
The student 50% say they don’t need a physical classroom 50% believe that online colleges are reputable 39% view the future of education as being more virtual in the future Source: Millennial Branding
The traveler From 2000 to 2011, Bicycle commuting rates in large BFC’s increased 80% (NY, SF, DC) Real estate prices are rising in places near bus and train stations
48% of Millennials say word- of-mouth influences their purchases Only 17% say that TV ads promoted them to buy The consumer Source: Intrepid
Millennials want brands that are: Fun Approachable Transparent Progressive Socially Responsible
So, How do you reach millennials? …on their mobile devices
What does this mean for marketers? Ads must be savvy: Relevant Smart / Funny Engaging Conversation-starters Memorable Unobtrusive
Wearable mobile devices are the future… In fact, they may come out as soon as this year… Mobile advertising must be: Practical Fun Smart Tech-savvy Convenient Interactive The next chapter…
The future is limitless
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