millennials - a generation of innovation: mobile & social
DESCRIPTION
This presentation provides an overview of the dynamic U.S. Millennial consumer segment with an emphasis on the growing Latino market. Find out why marketers can't afford to not to address this segment.TRANSCRIPT
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CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
Agenda • Millennials: definition/segmentation
• Latinos: implications
• Differentiators
– Empowerment
– Cause marketing
– Technology
• Examples
• Recommendations
• Q&A
30 m!"#$e%
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• 18-34 YO/80MM
• 21% Discretionary Spending;
$1.3 trillion buying power
• The Most Diverse Consumer Group Ever
• Highly emotional & unpredictable;
opinionated; vocal; skeptical &
controlling
– Overall feeling “screwed” by the system;
strong entrepreneurial spirit
– Open-minded and accepting; pro same-sex
marriage 70%
– 44% believe marriage is obsolete
Source: Boston consulting group; Consumer Clarity; Pew Research
definition
CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
Le!’" p#! $! $% per&pe'!$(e
Source: New York Times
COMPLETING SCHOOL
LEAVING HOME
BECOMING FINANCIALLY INDEPENDENT
MARRYING
HAVING A CHILD
1960 77% OF WOMEN
65% OF MEN
HAD REACHED ALL FIVE BY 30
2010 13% OF WOMEN
& 10% OF MEAN
HAVE DONE SO
CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
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Source: Boston consulting group; Consumer Clarity; Pew Research
HIP-ENNIAL “I can make the world a better place.” • Female dominated, below-average employment (many are students & homemakers)
MILLENNIAL MOM “I love to work out, travel, & pamper my baby.” • Wealthy, family oriented, works out, confident, & digitally savvy, Older, highest income.
ANTI-MILLENNIAL “I’m too busy taking care of my business & my family to worry about much else.” • Slightly more female, more likely to be Latino & from the western U.S.
GADGET GURU “It’s a great day to be me.” • Male dominated, above-average income, single
CLEAN & GREEN MILLENNIAL “I take care of myself & the world around me.” • Male dominated, youngest, more likely to be Latino, full-time student
OLD-SCHOOL MILLENNIAL “Connecting on Facebook is too impersonal, let’s meet up for coffee instead!” • Older, more likely to be Latino
29%
22%
16%
13%
10%
16%
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Consummate Optimists - Differentiators:
- Empowerment
- Cause Marketing
- Technology
21%; 35 MM; 65% Total Hispanic U.S. Population
They are bilingual • 75% Speak English at
home half the time • Over half consume
Spanish language media
Source: BIGinsight Media Behaviors and Influnce Survey Jun 2012. IAB Hispanic Consumers & Digital Media Oct. 2012
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Source: BIGinsight Media Behaviors and Influnce Survey Jun 2012. IAB Hispanic Consumers & Digital Media Oct. 2012
LATINOS CONSUME MORE MOBILE MEDIA THAN THE GENERAL POPULATION
• 25% Greater Reach Thru Text Message on Mobile Device
• 30% Greater Reach Viewing e-mails on Mobile Device
• 34% Greater Reach Taking a picture on Mobile Device
• 42% Greater Reach Viewing news on Mobile Device
LATINO MILLENNIALS ARE RICH AND INFLUENTIAL: MORE LIKELY TO MAKE MAJOR PURCHASES
• 26% More Likely To Purchase Vacation Travel
• 18% More Likely To Purchase Computers
• 115% More Likely To Research Before Buying Electronics and Apparel
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More Connected & Engaged Latino Consumers are More Socially Connected than the average U.S. Adult
Source: Nielsen Media Insights, Feb 2012
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Get Real • Social is no longer just about connecting online, it is
about connecting in the real world with real people
• Latinos are just as eager to connect in the real world as they are online
– They look for local events 350% more than the average U.S. adult
– Share local events they discover 10x more
Source: Gravy, June 2013
CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION Source: Ahaa: Think Hispanic
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Source: Ahaa: Think Hispanic
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CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
4*'e2oo5 6#)e" … THE # OF LATINOS ON FACEBOOK
GREW 2.8X IN 2010
REACHING ALMOST
14 MILLION USERS
(MARCH 2011).
U.S. Latinos spend a daily average of
29 minutes on social networking versus non-Latino whites who spend 19 minutes.
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20
Nike- 19 | Sony - 8 | Microsoft - 5
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Cause Marketing: “Old Souls” From “me to we” Authentic relationships with strong social currency; share worthy
Empowerment: Collective individualism; functionality trumps image; trust is the new cool
Technology: Mobile and Social
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8mpo9erme%! • Collective Individualism – a paradox
- Empowered by own self; however,
always seeking input – even trust
strangers (product users)
• Functionality trumps image
- Products must be convenient,
cater to their lifestyle; make
their lives easier
• Trust is the new cool
- Be simple, establish brand trust
- Seek to have Millennials participate
and share
Source: Insanely Useful Advice For Marketing Millennials. By: Hyper island
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C*u&e M+r5e!$%3 • Old souls With A New Mindset
– 65% agree that family traditions are
extremely important
• From “me to we” and desire marketing
with meaning
– Brands must have a greater purpose
• Strong social currency
– Passionate brand advocates - most
interested in brands that allow them
to also participate and have content that is
“shareworthy” – worth sharing with friends, etc.
Source: Insanely Useful Advice For Marketing Millennials. By: Hyper island
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Examples Kum & Go Convenience Stores: • Most important to Millennials - value
• “Snaxpert” promotes pairing of snacks
• Social media sharing through photo contest –WIN $500 gift card/web post
Food4Less Latino Supermarket: • Targeting Millennials through mobile app
• Improves grocery shopping experience
• Coupons, ads, fuel, shopping lists, etc.
• Meets the convenience they value
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Examples Chipotle Mexican Grill: • Millennials Seek Adventure
• “Adventurrito” -20th Anniversary
• 20 Daily Puzzles – Grand Prize: Win Free Burritos for 20 Years!
Macy’s Department Store: • Rolled out 13 new brands to target
• Utilizing new/emerging technologies
• Engaging with content
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For More Information or to Request a Presentation Contact: Liz Arreaga, [email protected]