31+ takeaways from this 93 minute interview:
Today’s youth view content such as music as a form of free public service.
So business models that charge for access to content isn’t as lucrative or acceptable today as it was in the past.
Brands must take the changing generation’s beliefs into consideration.
Consider the cultural barriers preventing the consumer from hearing your message.
Because we know Millenials are looking to be curators of information, brands can reach them by helping them shine socially.
Research shows that today’s consumer is being more and more sensitive, skeptical, and complex. They need more of a ‘soft sell.’ This approach, due to its relative subtlety, is a lot tougher to pull off than a hard sell. So start thinking in terms of creating soft sell ads. But make sure you don’t think so soft that it’s unclear what you’re trying to sell. In other words: think hard, sell soft.
The old communications tricks will not work. Cyncism is huge among the public, and certain generations (especially Gen Y, the first generation to be marketed to ‘from the crib’) just hate advertising with all its excesses.
Many brands are in for a surprise, especially as young Internet users see themselves as web experts capable of influencing others. Large numbers of them discuss the advantages and disadvantages of products in forums. Many post brand logos on their Facebook profiles.
Brands are a part of their personal identity.
Targeting Generation Y (born 1977-94) is complicated because they have a tendency to reject the ‘mainstream,’ and as soon as a brand becomes big it is in danger of falling into their disfavor. Success = sellout = bad.
Increasingly, with the advent of mass-customization technology, Generation Y (born 1977-94) will be able to create their own product lines and further develop this yearn for individual expression.
Generation Y (born 1977-94) craves a more direct interactivity and sensoral experience in marketing. In addition, they crave speed. The biggest challenge with Generation Y will be to keep abreast of their fast-moving lifestyle and quickly evolving taste.
Events are a great way to showcase brands in a festive, emotionally charged atmosphere – particularly to experience craving Generation Y (born 1977-94). This is the main reason why promotional events are gaining popularity in marketing.
You and your whole lousy generation believes that the way it was for you is the way it’s got to be. And it’s not until your whole generation has lain down and died will the dead weight of you be off our backs!
Generation Y (born 1977-94) demonstrates an unprecedented sensitivity to global issues, such as poverty, war, environmentalism, as well as race, gender, or sexual orientation discrimination issues.