They're called Generation Y, Millennials, Echo Boomers, and
Connecteds. By whatever name, this generation of youth born
after 1977 represents more than 70 million consumers in the
United States. They earn a total annual income of about
$211 billion, spend approximately $172 billion per year**
and considerably influence many adult consumer buying
choices, so no longer are they the youth that will be seen
but not heard -- and marketing professionals need to take
notice!
Generation Y cannot be reached through traditional
marketing channels. Direct mail, print ads, and television
advertising bounce off these powerful consumers like
bullets on Superman's chest. They are impermeable to the
marketing messages that appealed to their parents and
grandparents. Generation Y represents a massive group of
influencers -- the largest, and the most cutting edge
generation in our history. They cut their teeth on
technology, grew up with the knowledge they could do
anything (because their parents and teachers told them
so!), and the desire to make a difference in their world.
So how do you break through this marketing barrier when
they can choose their own music without listening to a
commercial radio station, can block outsiders from their
social circle -- which revolves around cell phones and
online networks like Facebook and MySpace -- and only refer
to newspapers when they need packing material to move on to
their next venue?
In my work with emerging leaders, I've discovered many ways
in which marketers have totally missed the mark with
Generation Y consumers by not acknowledging their
motivators. So let me clue you in to the ways in which you
can effectively connect with this growing market of savvy
spenders.
1) Respect them as consumers: Members of Generation Y are
tech savvy and highly intelligent. Don't talk "at" or "down
to" them.
2) Get to know them. Before they will do business with you,
Generation Yers want to know that you care enough to find
out what makes them tick. But don't rely on the old method
of marketing surveys. Get out there and talk to them. Find
out how they spend their free time, the music they listen
to, and what they eat, wear, read, watch, and drive. You
might just be surprised by what you learn!
3) Look cool and hip: As Steve Jobs said about his Apple
iBook: "I wanted to make the computer look so cool and so
attractive that Generation Y would want to lick the
screen." Generation Y will buy based on a sleek, beautiful,
cool-looking package. To see what's working, visit
http://Apple.com.
4) Be socially responsible: Generation Y is incredibly
conscious about social causes including the environment,
animal rights, and world hunger. They want to know that
your company is aligned with a cause that creates an
emotional connection with them.
5) Be real: Young consumers can spot a phony from a mile
away. Don't try to talk the talk if you don't speak the
language. Be honest and open. Drop the old sales-speak and
be sincere when marketing your products and services.
6) Join their networks: Generation Y will not come looking
for you. If you want to attract Generation Y, go where they
hang out: social networking sites. MySpace, Facebook,
Twitter, Delicious, and Second Life are the hot sites for
Generation Y and cost nothing to join. Invest time in
reading what they are writing about and getting engaged in
an online conversation, and your return will be the
knowledge of how to market to them.
7) Take it to the streets: Today's youth love experiences.
Promotional stunts, product sampling, and rollouts in a
strategically placed venue attract the young urban buyer.
They thrive on word of mouth marketing, and street
marketing is one of the best ways to create buzz for the
young consumer. Today's smart marketers use street teams
and event marketing to reach Generation Y. For more
information visit http://www.streetteampromotion.com and
http://www.mryouth.com.
8) Give them a chance to win: Generation Y is wild about
winning a contest or receiving a gift, especially if it's
meaningful to them, like an iPod, a trip to a national
snowboarding competition, or tickets to a hot concert. And
you'll always be able to reel them in with great java and
food. But one caveat: Generation Yers travel in groups so
be sure the gift or prize includes enough spending power
for them to bring along their friends.
9) Go viral: YouTube turned the Internet from an
information highway into an entertainment complex without
walls. Video (vodcast) and audio (podcasts) bits uploaded
to your site can spread across the Internet as Generation
Yers share their favorites with their friends, who pass it
along to their circle, and so on.
10) Text them: I hear many older generation leaders saying,
"I don't text message. I don't even use e-mail." If you
can't connect with their preferred method of communication
(texting over email), forget about reaching Generation Y.
Learn how to integrate mobile technology in your marketing
efforts to get into their networks and be seen. Look at how
popular shows like American Idol use texting to vote for
their favorite performers, because the producers recognize
that their audience is primarily is Generation Y!
Generation Y is not difficult or complicated. They are
truly unique. And these young people are going to be your
customers, if only you learn how to reach out to them.
** Harris Interactive 2003 Youth PulseSM Survey,
www.harrisinteractive.com
----------------------------------------------------
Bea Fields is an Executive Coach and the President of Bea
Fields Companies, Inc and the Founder of Five Star Leader
Coaching and Training. She specializes in Leadership and
Team Coaching for high growth companies, non-profit
organizations and medium-sized businesses. Fields is the
author of Millennial Leaders: Success Stories From Today's
Most Brilliant Generation Y Leaders and Edge: A Leadership
Story.
