millennials: why you should care

Generation YThe 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:

FunApproachableTransparentProgressiveSocially 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