Marketing Generation Y
by Matt Berkley
Tom Blood recognizes how important it is to connect with the young generation. As creative director for MediaCross, one of the top advertising agencies in St. Louis, Blood actively markets for several clients looking to reach recent college grads for entry level positions.
Business owners who neglect to make changes that will include Generation Y in their marketing plans aren’t just exhibiting their own deep-set ignorance, according to Blood, they’re effectively tying their own professional nooses. “The numbers don’t lie,” he says. “Generation Y is already three times the size of its parent generation. Ignore them and you could be shutting your own doors on the future of your company.”
Call them Millenials, Echo Boomers, call them whatever—just don’t forget to call them. Members of Generation Y, born approximately between 1980 and 2000, make up nearly a quarter of our national population and have a large amount of spending power—over $150 billion a year.
Barry Tilson, president of Stan Gellman Graphic Design, says that a better understanding of Generation Y will allow for marketing materials that are closely geared conceptually and with content that will hit closer to home to their demographics.
Not only do these youngsters represent the future market for consumer brands, they’re also driving the spending decisions of their elders. “Generation Y is very independent and highly influential. They purchase a great deal and most importantly, they greatly influence the purchasing habits of older family members. Having the approval of younger consumers can open the door to many others,” says Kiku Obata. Her marketing firm, Obata & Company, deals primarily in selling retail products to the younger generation.
How To Reach Them
First off, forget everything you’ve learned about marketing. “Reaching this group is no easy task,” Blood explains. “The traditional methods of advertising that often show up in a marketing plan—TV, radio, print—simply will not get the job done. They’re not watching as much TV, they don’t regularly read newspapers or magazines and they’re more likely to be getting their music off of I-pods or satellite radio than on traditional radio channels.”
Today, according to Blood, advertising is much more effective when brands are tied into event sponsorships with other companies looking to encourage consumer trial or create awareness. Still, this doesn’t mean your company has to shell out thousands to sponsor top tier rock concerts or charity walks. What’s important, says Blood, is to think beyond the ordinary and do something different without sacrificing the integrity of your brand in the process. “Be open, be honest, be entertaining and be willing to try new means of communication. And don’t try to be something you aren’t—they’ll see right through the façade.”
Note The Skepticism
When it comes to brand names, Generation Y consumers are as loyal to some and skeptical to most others. “Some experts report that Yers will be bombarded with 23 million media messages before age 21. They already know they’ve been conned, lied to and manipulated by the media, so they’re much more wary and much more savvy about marketing messages than previous generations,” says Carolyn A. Martin, Ph.D., principal of RainmakerThinking, Inc., a firm that deals with issues concerning managing
Y generation employees.
Show Some Respect
Because of this hyper-awareness, the absolute worst thing a company can do is attempt to build hype and act “cool.” As counterintuive as it may sound, she says, you shouldn’t try to be cool and be in on Gen Yer’s in-jokes. “Don’t try to be like them. It backfires.”
Obata’s research shows that Generation Y craves respect. And though they’re very independent, they aren’t traditionally rebellious. “Traditionally, brands underestimate these consumers and believe that they will simply respond to any image of rebellion or disinterested youth. Today, these images feel out-of-date, false and condescending.”
Blood agrees. It’s important as marketers, he explains, to understand that this generation doesn’t consist entirely of skateboarders’ intent on defying everything that comes their way. “Actually, it’s quite the opposite, as today’s youth have radically cut down on smoking, drinking and drug use.” Consequently, he notes, any brand seeking to appeal to this generation in the name of rebellion will probably fall flat.
Customize Your Brand
Gen Y prefers picking and choosing options from a la carte menus, Martin notes. A great example of this is Netflix. Every user who logs on enters her/his own personalized, pressure free, shopping aisle—complete with recommended films similar to those they’ve chosen before.
Find Out What Makes Them Tick
When Obata & Co. works with its clients, the firm digs in and studies how consumers are responding to particular markets and what needs are there that should be met. “We look at what’s inspiring them around the world and identify what our client can honestly offer that is both inspiring and unique. The key is to respect your consumer and really delve into their lives,” she explains.
According to Tilson, doing proper research on buying habits, values, relationships, trends and how they communicate are all important pieces of information that will give a clearer picture on the new generations and how you we should market and interact with them.
Be Honest With Yourself And Them
Make your message straight, simple and honest. Don’t make promises you can’t keep and avoid anything condescending. “Speak the truth,” Blood advises. “Do so in an engaging way and if your product or service is truly right for this market, they will find it, embrace it, and on their own, help spread your story like wildfire.”
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