"marketing to millennials - don't phail!" by joe koufman from engauge digital
DESCRIPTION
Joe Koufman - Vice President of Business Development and Marketing for Engauge Digital presented "Marketing to Millennials - Don't Phail!" to the Online Marketing Summit (OMS) in Atlanta on June 10, 2009.TRANSCRIPT
Marketing to Millennials – Don’t Phail!Joe KoufmanVP of Business Development and Marketing
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What are Millennials?
Born from 1985-2000 (currently ages 9-24)
Millennials are the first generation to grow up digital – coming of age in a world where computers, the internet, videogames, and cell phones are common, and where expressing themselves through these tools is the norm.
- Jonathan Fanton, President, MacArthur Foundation
Agenda
• What is Generational Marketing?
• Who THEY Are
• Why THEY’RE Important
• How THEY Changed Media Consumption
• Our Field Research
• Reaching THEM
• Trends for Discussion
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WHAT ISGENERATIONALMARKETING?
JUST A FAD?
IMPORTANT
YOUTH MARKETING?
TRENDS CUSTOMIZESHIFT HAPPENS
PERSPECTIVE
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Don’t Be THAT Guy:
“You know what I like about marketing to teenagers?
My BRAND keeps getting older, but they stay the same age.”
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AMBITIOUS
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WHO THEY ARETREND-SETTERS
HIGHLY CONNECTED
LAZY
SELF-CENTERED
SPOILED / CODDLED
THE FUTURE
INFLUENCERS
YOUR KIDS
DIGITAL NATIVES, NOT IMMIGRANTS
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Protected and Empowered• Protected with car seats, bike helmets, knee pads, etc.
• Parents negotiating everything from pre-school to college to employment opportunities
• They have been given every choice imaginable, every advantage
• They demand choice, personalization, the world on their terms
• Passionate desire of parents to bear and raise them
• Name their mother as their number one role model, and their family as the most important thing to them
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Connected• 97% of college students own a computer
• 94% own a cell phone
• 75% have a Facebook account
• 60% own a portable music device
• They are using 3-5 pieces of technological equipment at the same time
• Not a brand or trend that they don’t know about
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Accepting and Diverse• Although 80% of Boomers describe
themselves as “White”, only 55% of Millennials refer to themselves as “White”
• Defined not by color of their skin or religious affiliation, but by the content on their iPod
• Acceptant of gay marriage, interracial relationships
• Gender differences less pronounced - men interested in fashion, fitness and grooming and women interested in sports, adventures and careers
• Enjoy being around people from ethnic or racial groups other than their own (African Americans 92%, Hispanics 89%, Non-Hispanic Whites 96%)
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Less Religious
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Less Conservative
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Trusting of Government
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WHY THEY’RE BUYING POWER
INFLUENCERS
YOUR NEXT CUSTOMER
IMPORTANTBUZZ MAKERS
THE FUTURE
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Large Population
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Influential
• Involved in all family decisions since about the age of 4
• Influence everything from food choices, family vacations or family vehicles
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Influence Purchases – Harris Interactive (2007)
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Buying Power
• “Prematurely affluent generation” poised to become the next great luxury consumers
• Last year teen spending along totaled $179 billion
• Purchased by and for children 4-12 tripled during the 1990’s
• Always on the lookout for the newest thing that they want NOW
Millennial Generation Spending Power
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CHANGES IN
MEDIAC TO IPMUSN ON
TIVO
MEDIA SNACKING
YOUTUBE
SKYPEHULU
138 Channels and nothing on
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Changes in Media Behavior• Media snacking and the fragmentation of the media landscape
• End of primetime discussion, seeking entertainment in new, shorter formats
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In 1965, 80% of 18-49 year-olds in the US could be reached with three 60-second TV spots.
In 2002, it required 117 prime-time commercials to do the same.”
- Jim Stengel, Global Marketing Officer, Proctor & Gamble
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MEDIUMAge
18-24Magazines 60%
TV/Broadcast 45%
Newspapers 30%
TV / Cable 55%
Face-to-Face 49%
E-Mail Advertising 37%
Direct Mail 26%
Radio 31%
Internet Advertising 41%
Outdoor 16%
Top 10 Media that Trigger an Online Search
Source: BIGresearch , July 2007, for the Retail Advertising & Marketing Association (Sample Size: 15,430, age 18+)
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L IEVI T,IN TTO U ES
INTERACTIVE
IT’S A LIFESTYLE
IT’S NOT JUST A TOOL!
DIGITAL NATIVES, NOT IMMIGRANTS
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E UO IV L TONTALKING
OF
A NEW KIND OF SOCIAL ANIMAL
INVOLVEMENT
FEEDBACK
RELEVANCY
CONNECTEDOPENNESS
TMI
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Likely to use new communications tools
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Influencing Behaviors of Other Demographics
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BE AUTHENTIC
CHANGE HOW YOU TALK
REACH OUT THROUGH NEW CHANNELS
REACHINGKEEPING A PULSE ON TRENDS
ABOUT YOURSELF
BE IN A SITE, NOT ON A SITE
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Marketing Executives Say:
1. TALK IN A NEW WAY
THE BOOTY CALL
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NSFW
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2. CHANGE HOW YOU TALK ABOUT YOURSELF
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3. REACH OUT THROUGH NEW CHANNELS
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4. USE THE NETWORK
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5. BE OPEN
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6. BE AUTHENTIC
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7. KEEP A PULSE ON TRENDS
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8. BE IN A SITE, NOT ON A SITE
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Ways to reach Millennials:
1. Talk to in a new way
2. Change how you talk about yourself
3. Reach out through new channels
4. Use the network
5. Be open
6. Be authentic
7. Keep a pulse on trends
8. Be in a site, not on a site
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WORKFORCECULTURE
LC SA H
ENTITLED
AMBITIOUSNEED POSITIVE FEEDBACK
CONNECTED
IMPATIENT
YOUR EMPLOYEES
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Changing Corporate America
• Because of their life experiences, Millennials have new expectations when entering the work force
• Expect company provided PC (76%), mobile phone (48%), internal company instant messaging (50%), access to social networking sites (40%), company provided virtual meetings (42%)
• 91% state that being able to work with “newer, innovative technologies” in the workplace would make them more likely to consider a potential job opportunity
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UH OH!!
WAS IT ALL A DREAM?
WHAT HAPPENS NOW?!
ECONOMIC
WHAT WILL I DO NEXT?
HOW THE
MAY IMPACT THIS GENERATIONCRISIS
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Millennials respect American business
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Email: [email protected]: LinkedIn.com/in/JoeKoufmanTwitter: @GumboShowJoeText: ‘Engauge’ to 50500
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Thank you!