Marketing to Generation Y, and the generations that follow us, is a no brainer.
To market to Gen Y, you have to change the way you think; your strategy must be fluid and adaptable, it must be engaging and provide value, it must be personalised and involved, and to be successful it must be social.
It's easy to say that, but actually understanding why I've said that is a different matter entirely.
This generation has grown up in a completely different environment than previous generations; technology and connectivity have defined us more than any other age group. The speed and flow of information, and the ability to pick and choose the information that we want to pay attention to, has altered the way we communicate with each other and the way the world communicates with us.
Strategy can no longer simply push a product or concept onto the consumer; it must encourage interactivity and engagement. Success comes when the consumer is given the choice to interact; if they choose to interact, then their level of engagement is considerably higher. It's also worth noting that consumers are now interacting directly with the brand, and this carries with it high levels of both risk and reward.
Traditional marketing is almost a dead horse. It still has it's place, but the key in any communication medium is to remain relevant to your target audience; anyone remember the 60 year old teacher at your high school or university that just "didn't get it"? You don't want your marketing strategies to be lumped into the same category. Strategies that build upon the traditional foundations, but are adapted to the way consumers interact with new mediums and each other, are the replacement for the 4Ps.
So back to the topic, how does marketing relate to Gen Y? We're not hard to understand; you just need to realise our different values and the way we interact with our world. Talk to us in a way that engages and provides value. And the big thing: be honest. Don't fabricate something (LonelyGirl15 learned that one the hard way). You may get away with it for a while, but the backlash will never be worth the short-term rewards.
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And there's my Round One reply. ;) Those are my thoughts, and I'd love to read some research to be able to back it all up...
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2 comments:
Great post, Adam!
I just read a great article about companies using new media to connect with (and inherently market to) their customers.
http://www.businessweek.com/magazine/content/08_17/b4081000030457.htm?chan=search
Just imagine how the "iced-coffee-cubes" evangelists on the MyStarbucksIdea.com site will react if it gets implemented!
I like your point about being honest with us. In this time of mass information sharing, no one can get away with lying for long, and we will hold it against companies.
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