We're all millennials now

We’re All Millennials Now:
The Contagious Consumer Mindset
Transforming All Ages
Carol Phillips
Instructor, Marketing, University of Notre Dame
President, Brand Amplitude, LLC
October 24, 2014

Milking meme went viral in late 2012 and spiked in 2013
Those Crazy Millennials
10/29/2014 Brand Amplitude, LLC All Rights Reserved 2

Ice Bucket Challenge goes viral in 2014 and raises $100 Million for ALS
Look Who’s Crazy Now

Source: Google Trends
2007
2010
2013-2014
Interest In “Millennials” Has Exploded

Marketers Were Driven by Fear

Fears Proved Unfounded
Source: Harris Worldwide
45%
60%
35%
51%
25%
38%
0%
10%
20%
30%
40%
50%
60%
70%
Brands play an essential role in
my life
It makes me feel good when I
see someone I admire using
the same brand I use
Relationships with Brands by Age
16-34
35-54
55+

Current Focus is On Understanding

Understanding Thwarted by Inconsistency
Portrait of a Split Personality?

What Is a Millennial, Anyway?
Roughly Encompasses Adults 18-34 years in 2013

Do Birth Years
Define Us?
What Is A Millennial, Anyway?

A Demographic Cohort Group
Demographers Say…

A Set of Social and Political Attitudes
Social Scientists Say...
Source: Pew Resarch

A distinctive set of media habits
Media Researchers Say…
Source: Pew Research

In the past 24 hours, did you watch
more than an hour of television
programming?
In the past 24 hours, did you read a daily newspaper, or not?
In the past 24 hours, did you play video games, or not? Thinking about your telephone use, do you have…
In the past 24 hours, about how
many text messages, if any, did you
send or receive on your cell phone?
How important is being successful in a high-paying career or
profession to you personally?
Do you think more people of different races marrying each
other is a…
In the past 12 months, have you
contacted a government official?
Have you ever created your own
profile on any social networking
site?
How important is living a very religious life to you personally?
Were your parents married during
most of the time you were
growing up?
Do you have a tattoo?
Do you have a piercing in a place
other than your earlobe?
In general, would you describe your political views as…
Any Wonder We’re Confused?

We’re All Millennials Now!

Source: Nielsen, Population by Generation
GEN Y
Millennial
Culture
and Influence
X
Sources of Influence
Size
Proximity
“Youth Positive” Culture
Technology
Education
Economic clout
Generation “Contagion”

Demographically defined
Set of lifestage-related attitudes
and behaviors
Likely to change over time with
maturity
Requires additional
segmentation to be meaningful
Gen Y is a Target

Culturally defined
Symbolic of an identity, purpose,
aspirations and values
More likely to endure
Starting point for culturally relevant
marketing that transcends age
Millennial is a Mindset

The First Millennial?
“Millennial” Is Bigger Than a Generation

Differences in Attitudes Are Blurring
Source: Pew Resarch

What is Most Important in Your Life?
(Choose Your Top 3)
Gen Y
83%
82%
78%
Making the most of every single day
Supporting my immediate family and
loved ones
Being as fit and healthy as I can be
today
Boomers
91%
91%
90%
Differences in Values Are Hard to Discern
Source: YouGov.com
18% 18% 17%
0%
5%
10%
15%
20%
18-37 38-49 50-68
"A company's reputation for social
responsibility has a strong effect
on my decisions about what to buy
and who to do business with"
Source: YouGov.com

Smartphone Uses WHILE Shopping by Age
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%100%
Other
View my shopping list
To alert others to deals or special…
To make a purchase
To use QR codes
To receive or find advertised deals
To receive or find digital coupons
To read product reviews
To take a picture
To compare prices
18-34 year-olds (n=573) 35-49 year-olds (n=530)
I found these shoes at Nordstrom that were $400
and while I was at the store, I found them on the
amazon app for $100. – Caroline, 18-26
Consumer Behavior Is Changing Across the Board
Source: Sprint Mobile Moment of Truth Study, 2012

Millennials Want What Everyone Wants

Millennial Mindset Is An Emerging Consumer Ideology
“An ideology is a point of view on an important
cultural construct that has become widely shared
and taken for granted, and naturalized by a
segment of society as a truth....Strong brands
sustain ideologies – [they offer] a particular point
of view on a cultural construct that is central to
the product.”
– Douglas Holt & Doug Cameron, Cultural Innovation

Millennials’ Top Brands Are Everyone’s Favorites
starbucks

Brand Losing Millennials Are Losing Overall

Finding Ideological Common Ground
• Look to Shared Passions – Music, the Environment, Making
a Difference
• Focus on Pragmatic Solutions – Faster, Simpler, Frictionless
• Aim High! -- Universal Values and Archetypes

Shared Passions
My Interests Define Me – How do you give me social currency?

Pragmatic Solutions
Useful is the New Cool – How do you make my life easier?

Universal Values and Archetypes
Respect My Aspirations – How do you make me feel more myself?
Source: Resource Ammirati
+22%
+20% +15%

“Win the Right Way”
Heroism

Exploration
“One Bold Choice Leads to Another”
https://www.youtube.com/watch?v=8unft7p054Q

“Take the Wheel”
Self-Expression

Key Takeaways
• Gen Y is a Target
• Encompasses Many Lifestages
• Some Unique Generational
Characteristics
• Millennial is an Emerging
Consumer Ideology
• Beware Gen Y Stereotypes
• Opportunity to Innovate Across
Generational Boundaries
• To Catch the Cultural Wave…
• Market to Commonalities
• Aim High
What? So What?

Thank you!
Instructor, Marketing
Mendoza College of Business
cphilli4@nd.edu
President
carol@brandamplitude.com
Carol Phillips
@carol_phillips

We're all millennials now

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