researching the millennial mind
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Researching the Millennial Mind
Carol PhillipsPresident, Brand Amplitude, LLC
with
Josip Petrusa, Millennial
Today
How Are Millennials Different?
What It Means For Marketers
Research Approaches
Millennials Gen X Boomers Silents Greatest
Present Age
Birth year
13-17
1993-1997
65-82
1928-1945
46-64
1946-1964
18-29
1981-1992
30-45
1965-1980
83-100
Before 1928
66,145M 76,511M
32,418M
7,810M
73,198M
Source: U.S. Census, Projected Population by Single Year of Age, released 2008 based on 2000 dataAge Categories Based on Pew Research:
Who Are The Millennials? (Gen Y)
What Made Them So Special?
Child-centric parenting styles
Unprecedented prosperity
Massive technological changeYou Rock !
Are Millennials REALLY Different?
Values Shift
New Forms of Communication
Personalized, Portable Media
Making Different Life Choices
Greater Connectedness
Better Filters
What’s Changed? Why It Matters
Values Have ShiftedDriven to make a difference
“Yes we really are great. I will even go so far as to say that we are
awesome. It’s something that we say because it’s a goal for us. It’s
something to live up to each and every day. We constantly strive for
awesomeness.” – Colby Gergon, 21
@GenyChat: Do you believe there are generational differences in how personal and material success are defined?
@kelly_ashworth: Absolutely! I think GenY will be less focused on $ which failed for many of our parents and more focused on happiness.
.@malapropicninny: Heck yes. As GenY, I’d like to have a nest egg, but if I’m working & doing something I love, I don’t mind the lifelong grind!
@steve_campbell: Definitely. Gen Y doesn’t necessarily care about following a set path to find happiness. Experiences seem to be a bigger part of our lives.
@Outlaw_Inc: Yes. GenY’s success = having the freedom and flexibility to pursue passions, have great experiences.
80% have a console gaming device
75% have a cell phone
23% have a smart phone
79% have an iPod or mp3 player
51% have a handheld gaming device
Communications Have Shifted
“[Without my phone] I felt quite alone and secluded from my life. Although I go to a school with thousands of students, the fact that I was not able to communicate with anyone via technology was almost unbearable.” ----Deprivation study participant
63% of Millennials (18-34 years old) say they feel more more connected to people now than
previously.
TV/Video PrintGamesComputerMusic/Audio Movies
4.5 Hours
38 min.1.25 Hours1.5 Hours
2.5 Hours
25 min.
Typical Amount of Time Spent Daily by 8-18 Year Olds
Source: Kaiser Family Foundation, 2010
Just 2:39 hours spent ‘live’.
Media Use Has Shifted
81% say ads are not relevant and 36% say they never look at them.
41% don’t want to see ads for companies or brands on social network sites.
Less than 1 out of 5 report being a fan or friend of a brand.
What’s happening?
Millennials are more likely to say they would choose to watch commercials they like. #pivotcon
13
Source: Mintel, March 2010
Total Adults
18-24years
I like the idea of having a DVR to record my entertainment preferences and then select commercials for me to view based on those preferences.
21% 42%
I would like to be able to view commercials on demand through a DVR.
9% 24%
% Adults 18+ with DVR Who Agree With Statement
What These Shifts Mean to Marketers
Active reputation managers
Expect brands to interact
Peer-to-peer influence
Brands need to stand for something
Brands need to ‘humanize’
Brands need to be ‘status up-date worthy’
What’s Changed? Why It Matters
Millennials identify strongly with the brands they love and use them to curate their personal brands. #pivotcon
Millennials Love Brands
63% of Gen Y women and 61% of Gen Y men describe themselves as ‘brand conscious’
“Young adults are finding their place in the world, and looking for products that can help communicate what they stand for. Many define success as growing and maturing as a person. And they tend to view brands as a means of expressing themselves, which is good news for brands“ --Nick Tabbal, SVP research, Resonate.
Millennial Brand Values Indexed vs. Older Adults (35+)
Show others I have succeeded 191
Show the world where I am heading as a person 176
Help me achieve more in the future 138
Help me feel attractive 129
Make me feel like I've attained important milestones in my life 126
Brands Help Millennials ‘Curate’ Their Identities
Total Teens Automotive 26% 45% Personal Care 35% 45% Beverages 46% 58% Apparel 38% 59% Sports 39% 63% Technology 39% 67% Food / Dining 54% 69% Entertainment 57% 78%
Source: TallTrack WOM Diary Study
% Having One or More Brand Conversations About Category Per Day
Millennials Talk About Brands More Than Everyone Else
TargetHP
Honda
SpriteSamsungHollister
SonyNike DellChevroletMicrosoftToyotaWalmartSprint
Top 20 Most Discussed Brands
Source: TallTrack
Coca-ColaAppleVerizoniPodFordPepsiMcDonald’sAT&TT-Mobile
TeenagersGeneral Public
Millennials Talk About the Same Brands As Everyone Else
“No technological development can replicate the feeling of awe we feel when we witness a spectacular act, even if it’s in something as mundane as music or sports. This is why the icons for our generation will come from “people brands.”
– MBA student
Brands are people and people are brands. Brands are humanizing. Millennials actively manage their personal brands. #pivotcon
People are Brands – And Brands Are Becoming More Human
As for iconic brands for our generation, we are ourselves our most iconic brand, and not just because Time Magazine told us so in 2006 with You: as the Person of the Year. Who better for us to be the first to ‘discover’ our brands? …We now like Lady Gaga because there’s no one else like her, and shun N Sync and boy bands because there are a million copy cats.”
Brands are humanizing and people are becoming brands. Content and conversation will drive affinity and connection. #pivotcon
“As for iconic brands for our
generation, we are ourselves our most
iconic brand. Who better for us to be
the first to ‘discover’ our brands? …We
now like Lady Gaga because there’s
no one else like her, and shun N
Sync and boy bands because there
are a million copy cats.” – MBA
Student
Brands Succeed When They Lead Rather Than Follow
“There’s something attractive about a person who’s comfortable with who they are. The same goes for brands. You don’t want your brand to be like that person–you know who I’m talking about–that one person who’s always trying too hard to impress you.” -- MBA Student
Another paradox of Gen Y marketing: Trying to be cool makes you uncool. Better to be authentic. #pivotcon
Cool Brands Don’t Try to Be Cool
Even Classic Brands Can Be Cool
Brand AffinityBrand Affinity
Gen Y chooses brands based on alignment of values and interests. Who you are matters as much as what you do for me. #pivotcon
Brand Values & Culture
Gen Y Values & Culture
“Being seen as part of local culture is not a necessity, but being seen as relevant to local culture is.” – Nigel Hollis
Com
mitm
ent
Competence
Millennial Brand Strategy Foundations
Are our values aligned? Do you care about doing good in the world?
Do you get me and my world? Do you share my interests, humor and passions?
How do you make me feel smarter or more discerning? Do you help me use my time and money more efficiently?
MeaningPurpose
Noble Cause
Culturally AwareRelevant Content
Quirky, Real
Faster/Cheaper/BetterRicher Experience
More Personal
CaringPassionate
Making A Difference
IndividualisticUnique
In the Know
DiscerningEfficientSmart
Brand Values & Culture
Gen Y Values & Culture
Commitment
Competence
Culture
Research Implications
Deep cultural understanding
Values and interests
Performance needs
Identify interests and passions
Define meaningful brand purpose
Identify opportunities to better serve
What’s Changed?
Why It Matters
Internal panels or councils
Market research communities
Co-Creation
Netnography
Online Focus Groups
Emerging Research Approaches
“The site needs to be authentic to their voice and how they shop,” -- Charlie Federman, Chairman, PlumWillow
“It went from us talking to them to us listening to them. We decided we might as well institutionalize it and make it part of our culture.” –
Scott Stone, Co-founder, PlumWillow
Internal Panels
In 2007, NASA employees prepared presentation for its leadership “Gen Y Perspectives” http://www.slideshare.net/ashwinl/nasa-geny-perspectives
Internal Panels
Meet Garret, Kristen, Aaron and Nick
Market Research Communities
Market Research Communities
How would you rate the value of the time and money you spend at museums relative to other leisure activities?
Gen Y Super Consumers: Perceived Value
Source: Brand Amplitude Survey, Sept 2010
High Value
Market Research Communities
Opportunity
Source: Brand Amplitude Survey, Sept 2010
Gen Y Super Consumers: Visit Frequency
Market Research Communities
Which three of the following strategies or events would be most likely to get you to visit a museum you like more often in the future?
Gen Y Super Consumers: What Would Increase Visit Frequency?
Market Research Communities
Market Research Communities
Market Research Communities
Customer Co-Creation
Netnography
39
-Do you relate to this story?-Does it matter to you and your life?-What, if anything, about this is uniquely Vogue? Think about…visual impact (photography, layout), the story (topic and way it’s told)
Online Focus Groups
40
Chris H: you, a friend, the beach and no worries
kass: And we've all gotten so used to the beach scene that it's hard to imagine Corona without the beach.
Luis B: The beach theme seems strictly coronas
Jason P: They relate to me because of the beach/relaxing theme
Are there any visual elements you can’t imagine NOT being in a Corona ad?
Online Focus Groups
Com
mitm
ent
Competence
What Makes A Brand ‘Status Update Worthy?
Thank you!
Carol Phillips
[email protected]@carol_phillips
http://linkedin/in/carolphillipshttp://facebook.com/carolphillips