millennials and innovation
TRANSCRIPT
Copyright© 2013 by Barkley. All rights reserved.
MILLENNIALS: !THE INNOVATION GENERATION
Mark LoganUnlearn.
Reimagine.
Innovate.
Evolve.
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#MillennialMKTG@mlogan
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80+ MILLION STRONG
25%$1.3
21%
OF US POPULATION
TRILLION OF DIRECT SPENDING POWER
OF CONSUMER DISCRETIONARY PURCHASES
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HIP-ENNIAL
29%
CLEAN AND GREEN MILLENNIAL
10%MILLENNIAL “MOM”
22%
10% OLD SCHOOL MILLENNIAL
13% GADGET GURU
16% ANTI-MILLENNIALmillennialmarketing.com
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1984 FIRST MACINTOSH
2007 FIRST IPHONE
The Innovation Generation
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Innovations first appear like magic, then quietly disappear into the everyday.
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62% DESCRIBE THEMSELVES AS INNOVATIVE
78%TOP 3
26%
BELIEVE INNOVATION IS ESSENTIAL !FOR BUSINESS GROWTH
PURPOSES OF BUSINESS, AS IMPORTANT AS PROFIT
FEEL THEIR ORGANIZATION ENCOURAGES IDEA GENERATION
66% SAY INNOVATION IS KEY IN AN !EMPLOYER OF CHOICE
Source: Millennial Innovation Survey, Deloitte, 2013
FutureCast 2014 All Rights Reserved
Brand Love
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TOMORROW
UNIQUENESS
REGARD
MEANINGFULNESS
AWARENESS
TODAYCopyright© 2013 by Barkley. All rights reserved.
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MILLENNIAL MINDSET
DIGITAL CULTURE
CONSUMER CULTURE
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SIMPLE TRUTHS ABOUT GREAT
INNOVATIVE BRANDS
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INNOVATIVE BRAND TRUTHS1
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ENGAGE EARLY ADOPTERS
CREATE EXPERIENCES & ADVENTURES
TREAT CONTENT AS BRAND FUEL
JOIN THE ‘PARTICIPATION ECONOMY’
EMBRACE EXPERIMENTATION
STAND FOR MORE THAN YOUR BOTTOM LINE 6
BRAND TRUTH 1
ENGAGE EARLY ADOPTERS
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MILLENNIALSARE 2.5x MORE LIKELY TO BE
EARLY ADOPTERSOF NEW TECHNOLOGY
Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
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USEFULIS THE NEW
COOL
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BRAND TRUTH 2
CREATE EXPERIENCES & ADVENTURES
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69% OF
MILLENNIALSSAY THEY CONSIDER THEMSELVES
ADVENTUROUS
Source: “American Millennials: Deciphering the Enigma Generation.” Joint research by Barkley, BCG & SMG.
FutureCast 2014 All Rights Reserved
FutureCast 2014 All Rights Reserved
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BRAND TRUTH 3
TREAT CONTENT!AS BRAND FUEL
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CREATIVE EXCELLENCE
CREATIVE EXCELLENCE
CONTENT EXCELLENCE™
CREATIVE EXCELLENCE !TO CONTENT EXCELLENCE™
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WHAT IS
CONTENT
MARKETING?
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COMMUNICATION PEOPLE CHOOSE TO SPEND TIME WITH
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CONTENT
RELATIONSHIPS
LOYALTY
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BRAND TRUTH 4
JOIN THE!‘PARTICIPATION ECONOMY’
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BRAND TRUTH 5
EMBRACE EXPERIMENTATION
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INNOVATION
CONTENT
PAID MEDIA
SOCIAL
FUELING A REACTIONEARNED
BRAND TRUTH 6
STAND FOR MORE THAN!YOUR BOTTOM LINE
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STORYTELLING STORYTELLING STORYLIVING™
STORYTELLING !TO STORYLIVING™
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DOES ANYONE RECOGNIZE THIS GUY?
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DO THESE PEOPLE LOOK A BIT MORE FAMILIAR?
42Copyright© 2013 by Barkley. All rights reserved.
43Copyright© 2013 by Barkley. All rights reserved.
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6 QUESTIONS YOU HAVE TO ASK
1 WHAT IS YOUR BRAND AUTHORITY? 2 WHAT ARE YOUR BIG UNMET CONSUMER NEEDS?3 WHAT IS THE OPPORTUNITY FOR INNOVATION?
5 HOW ARE YOU CREATING UNIQUENESS? 6 HOW WILL YOU CO-CREATE MEANINGFULNESS?
4 WHAT CAN YOU LEARN BY EXPERIMENTING?
