"It’s imperative for media companies, marketing firms, content producers, advertisers, and brand managers alike to collect, filter and analyze “big data” to gain insightful knowledge to develop an understanding of Millennials’ sentiments, perceptions, and behavior.
Here's what caught my attention:
Transfer of Power
**YouTube was founded as an Internet channel in 2005 and acquired by Google in November 2006, so the genie has been out of the bottle for years now.
**Giant media companies are truly in danger that millennials may completely ignore their traditional program offerings in favor of more relevant content created by other millennials, or by innovative new companies who are more intune with what this demographic finds interesting.
**Young Americans in high school and college are bringing about a transfer of power, shifting control within the industry of mass media by creating their own content.
This is an interview between eMarketer and Matt Britton CEO & Co Founder of Mr. Youth. Mr. Youth is a boutique agency specializing in marketing activities geared toward millennials, including word-of-mouth, experiential marketing and social media.
This year, Mr. Youth launched Crowdtap, an on-demand participation network used by more than 50 brands and agencies.
**Matt Britton and eMarketer’s Tobi Elkin talked about millennials’media usagepatterns, attitudes and preferences and how marketers can successfully engage them.
Here's what caught my attention:
What can marketers learn?
**They’re simply not watching and consuming television content, which is where 60% percent of ad dollars are still spent.
**They’re consumingtheir video content via Hulu, Netflix, iTunes and on mobile devices. And they’re pirating content.
**The same goes for radio—they’re not listening to radio the same way anymore. They’re listening to Spotify and Pandora.
**They’re also consuming online content differently. Marketers can’t rely on the massive bucket of broadcast media dollars to reach this generation.
**Marketers need to rethink the way they talk to this generation as a whole and ask:
Now this is an eye-opener! We all know that Millenials are leading the way in the digital world. Well here is a must-see video from MTV, along with a very important article written by Steve Rosenbaum for mediaite.com.
Introducing "The Curated 'me'". The online persona that we portray to the whole world that is very likely different to how we show ourselves to our frriends and family.
"What’s changing for young people is changing for all of us. How we connect, how we share. How we present our digital selves."
"In some ways it is the evolution of our society from physical to digital. In the past we knew that we had to behave one way at work, another in a public park, and another at Church or Synagogue. Now those behaviors move online."
Here are some of the things that caught my eye:
**** The presentation was called ‘Millennials: Decoded’, and was broken into four findings. The Curated Me, Publicly Intimate, Like-A-Holism and Digi-Quette:
*** The Curated Me is almost like a prosthetic extension of ourselves: “You are the author of what gets put out there.”
*** Publicly Intimate: 94% agreed that texts are private. While platforms like Twitter and FB Status are public, with FB being more Superficial, and Twitter more Real. Phone calls are the least welcome, because they can be ‘awkward.’
*** Like-a-Holism (Are you a likeaholic?): 79% of respondents said their generation expects feedback, and 58% feel more confident when others respond. 33% said they feel disappointed when others don’t respond, and 23% said they feel alone if they don’t get feedback.
*** Digi-Quette: The etiquette of the always on web is emerging as a series of social behaviors. They can’t really be taught about it, because they know more about it than the older generation. Says one expert: “It’s like the air they breathe.”
As Millennials, we grew up in an age with dual lives: one similar to that of our parents, and one that exists completely in cyber space. We are not necessarily a generation of ‘me’ (that’s a quick and easy assumption to make), but we are a generation whose lives are being archived for us, in real time, and for all to see, like, and comment. This is unique to our generation.
9/11 gave us a larger purpose. It was a brutal reality check that, as Americans, we are not untouchable. We suffered such incredible loss yet at the same moment we learned the true meaning of courage, bravery, and hope.
Now ten years later, we understand the tremendous value in giving back. This larger arc penetrated so deeply into our generations mindset that we not only saw the value in helping others, we actually saw endless opportunities. Our country had hit rock bottom, only to see its spirit remain intact. In a backwards way, it gave us unshakable confidence.
If you're a brand, you will want to read this post written Mattias Behrer, about a generation that characterizes and differentiates it against the previous one. Here's an intro:
A few weeks ago I got a call from a journalist working with the culture section of a daily paper. He said: “I just read your book, (How Cool Brands Stay Hot written by Joeri Van den Bergh & Mattias Behrer) and think there are many interesting insights on Gen Y in it… but I am running against a deadline and was wondering if you can help me with something like a top 10 list ‘for Dummies’ of what really characterizes this generation and differentiates it against the previous?”.
Well, Joeri and I hadn’t really made that list at the time but I decided to give it a go. Yet, it did end up as a condensed ‘top 15′ in order to cover most of the major themes described throughout the book. So, for anyone else with ‘short deadlines, here we go:
Although more and more consumers are opting in to location services such as foursquare and Facebook Places, consumers under age 35 are particularly willing to share location in exchange for value, research suggests.
Q2 2011 data from mobile Wi-Fi hotspot provider JiWire indicates that 53% of all mobile Wi-Fi users are willing to share their location to receive more relevant content. Younger consumers are particularly responsive to location-based programs—60% of 25- to 34-year olds and 58% of those under 25 are willing share location.
Great interview with Dan Schawbel, he has great advice and information for companies and personal brands on how to be highly effective in the coming years.
Keep up the great work Dan! Dan has great advice and information for companies and personal brands.
Keep up the good work Dan!
Dan Schawbel is a personal branding expert, speaker, consultant, bestselling author, and owner of Millennial Branding, LLC.
Dan Schawbel, recognized as a "personal branding guru" by The New York Times, is the Managing Partner of Millennial Branding, LLC, a full-service personal branding agency. He is the author of the #1 international bestselling career book, Me 2.0: 4 Steps to Building Your Future (Kaplan Publishing). Me 2.0 made the New York Times summer reading list for job seekers, made The Washington Post summer reading list, was the #1 career book of 2009 by The New York Post, is a #1 bestseller in Japan, and is also being translated into Chinese, Korean, Russian, Spanish, and French. Recently, Dan was named to the prestigious Inc. Magazine 30 Under 30 list.
They're like no other generation, they are savvy consumers, have grown up with word of mouth through social networking. They don't like advertising that talks at them, this post is relevant and gives you insight into who they are, what they care about......
Here's an excerpt:
DEFINITION: MILLENNIALS The Millennial Generation (also known as Gen-Y or Echo Boomers) is the generation immediately following Gen-X.
Despite the enormous impact that millennial consumers have already had on the US economy, many are not financially independent yet, and some aren’t even legal adults. This means that this generation hasn’t yet achieved its full potential as consumers. Which, by the way, should be pretty impressive as Millennials are the wealthiest generation that this planet has ever seen, according to DeLoitte Research.
Though companies are waking up to the value of millennials, there’s an enormous gap today between brand messages and millennial expectations. If only brands took the time to learn about what their new target consumers care about – what they are interested in, what they love and hate – then a real connection between brand and consumer could start.
The infographic takes you into the world of the Millennials and shows you some very interesting statistics about this amazing generation.
Here's what caught my attention:
Sociologists have shown that being born in a recession dampens your earnings throughout your lifetime, simply because the first jobs you get are the ones that define much of your success in later life.
Almost all the wage increases that you'll get arrive before you're 40. Thus, if you enter the workforce and struggle to find a job, you'll be consistently hobbled by a lack of experience and tenure. But maybe that's a good thing.
It may be that millennials are a generation apart in one sense that hasn't shown up yet in the data: Plagued by dead-end career prospects, many seem to have turned to everything from crafts to self-improvement as a way to find meaning outside of what they do.
A less materialistic, more happiness-focused generation seems like a very good thing given how obsessed America has been with simply getting more, no matter what.
**But it might also be that a lack of prospects makes this generation the most entrepreneurial we've ever seen--after all, innovation is usually born during times of hardship
This part of the report is based upon interviews with 100 young professionals in their 20s, from each of 14 countries. (Part one was based upon the same sample size but using college students).
The results are at the same time somewhat unsurprising yet very eye-opening.
Here are a few of the findings:
***56% of college students said that if they encountered a company that banned access to social media, they would either not accept a job offer or would join and find a way to circumvent corporate policy.
***40% of college students and 45% of young employees said they would accept a lower-paying job that had more flexibility with regard to device choice, social media access, and mobility than a higher-paying job with less flexibility
***27% of college students said that staying on Facebook was more important than partying, dating, listening to music or hanging out with friends.
(Cynthia's son suggests that these numbers are two low and that the real diehards were too busy on Facebook to respond!)
***66% of students and 58% of employees cite a mobile device (laptop, smartphone, tablet) as “the most important technology in their lives.
The takeaways here from a marketing perspective are:
***GenYers are always on.
***The line between work and leisure hours are being erased.
***"Young professionals now choose their lunch location based on the instant coupon that shows up on their phone at 11:00 am. They’re shopping for holiday gifts while sitting in a meeting and they’re making weekend getaway plans in the middle of the week."
Food for thought for all of us in business or embarking upon new ventures.
Gen Y Capital aims to help young entrepreneurs with early stage startups grow their businesses.
Y it Matters
We’ve already got YCombinator. We’ve got The Founder Institute. Why do we needyet another startup incubator you may ask?
There are a few features that make Gen Y Capital Partners stand out:
**First: The program focuses beyond tech startups. Gen Y is looking for “highlyscalable, ‘tech enabled’ businesses in verticals and markets that are traditionally ignored or overlooked.” With so much of the startup world making stars out of tech companies, this is refreshing news.
Second: In addition to offering mentoring and cash (Gen Ywill invest $250,000 in 30-50 companies in exchange for equity), participants will have their student loan obligations paid for up to three years.
"You also realize you could benefit from a little more exposure to the start-up world before taking the CEO reins. So… how do you feed the entrepreneurialmonster inside you and gain critical, hands-on experience?"
A top 10 list ‘for marketers’ of what really characterizes this generation and differentiates it against the previous?”
Here are just a few:
They are 15-30 yrs old and the first generation growing up with Internet as a natural ingredient in their social, media and economic life. Or as one of our respondents said; “it’s not like I am thinking www… it’s not a gadget… or an activity I plan for or think of separately from anything else that I do, it’s not anything special really… it’s just… well…part of my life”.
Their attitudes, values and lifestyles are in many ways different from those of the previous Babyboomers and Generation X and due to their cheer size and direct and indirect influence they will have an even greater impact on how companies and brands must behave as marketers and employers to satisfy their emotional and practical needs.
Today is September 11, 2011 - Ten years ago today we experienced the worst tragedy in US history. This is a very moving piece about the Millennials, a wonderful generation.
NEW YORK -- Alyssa Henry was in the eighth grade when two airplanes struck the World Trade Center.
She can remember what she wore that day (gray sweatpants and a black T-shirt), what class she was in (Spanish), even what she whispered to a friend when she first heard that terrorists had attacked the nearby island of Manhattan.
"What's a terrorist?" Henry recalls asking. "I had never heard the word before, and I guess it just wasn't in my vocabulary. Now, of course, it is."
Today's American 20-somethings came of age in the shadow of the twin towers' collapse. For many, the 9/11 attacks marked the first time they could recall feeling truly vulnerable.
I can't imagine being so young to have witnessed such a tragedy but this generation, like no other is stronger and wiser and doing great things in the world! I salute GenY!!
"Ypulse is your guide to youth via news, events, market research & strategy.
The Millennial generation is often almost solely defined by its technical savvy having grown up after the advent of Internet for the masses, but there is another major event that shaped this cohort: 9/11. The attack on the World Trade Center It has the same resonance for Millennials as Kennedy’s assassination had for their parents.
They remember where they were the day the towers fell.Sunday marks the 10th anniversary of 9/11, and that event continues to impact young adults. That day they were suddenly thrust into a world where politics — local, national, and international — mattered. They wouldn’t adopt Gen Xers jaded, apathetic attitude towardgovernment.
They pay attention to politics, read international news, and actively campaign for causes they care about. Even before they’re able to vote, Millennials are civic-minded.
Andy McLoughlin, Co-founder, EVP Strategy at Huddle wrote this interesting article about the Millennials and the technology gap that exists today in the business arena.
Much has been written about the Millennials / digital natives / MySpace / Facebook / latest social phenomenon generation entering the world of work and disrupting the traditional IT department. This is a generation that is accustomed to getting information in real-time: the Millennials have never known life without the internet.
They keep in touch with friends and family via Facebook, share their pictures on Flickr and communicate using instant messaging tools such as Skype and GoogleTalk. Needless to say this is a generation that is unlikely to purchase a photo album or send a letter via ‘snail mail’.
When you drop this generation of Digital Natives, accustomed to flexibility and openness, into a workplace where the CIO holds the technology keys, they could be on an inevitable collision course.
Faced with traditional inward-looking systems and lock-down on social networking sites, Millennials everywhere will be banging on the door of the IT department and expressing their disgust at the dinosaur-like technology in place, right? Not according to new research by GigaOM Pro and Isurus Market Research & Consulting, sponsored by IT support vendor Bomgar.
Corporate social responsibility, instant gratification, the way they perceive things and more. Interesting video about a fantastic generation!
"Millennials’ expectations are ‘wildly different’ than previous generations, says Erin Lieberman Moran of the Great Place To Work Institute. They prefer content in small, punchy bits, and in real-time.
This is social media in all its glory and one of my favorite generations besides boomers:-). I love success stories...........
Here's an intro:
Just about everyone and everything has some sort of presence on social media. We live in a world where cereal box cartoons talk to us via Twitter, and of course, colleges have taken notice and joined the world of social media. But there are an exceptional few colleges who have truly done great things in social media, becoming influencers and brainstormers online. Students and fans alike can interact with college professors, athletics, and admissions on social media outlets, and these colleges are doing it in a really interesting way.