Generation Y or Millennials is the next generation to make the transition to adulthood. For the past 10 years a lot has been written about the attributes of my generation, touting the tech savvy group as having the potential to be one of the most civic minded age groups in history while also showing alarmingly high levels of narcissism and entitlement. As this group makes the leap, marketers should be paying attention to its newest customer base as their attributes both good and bad have the potential to lift brands up and bring others down. Here’s how…
The negative traits that have been pinned to Gen Y are the same
traits that make us incredibly loyal customers and ideal targets for targeted
marketing. Millennials are looking for brands that will treat us as the
individuals we believe we are. As the poster children for preference marketing,
we demand the one to one communications and brand relationships, rewarding companies
that do it well. Historically brands have used transactional data and analytics
to “tell” consumers what they are interested in. For the generation labeled as
narcissistic and entitled, what marketer thinks that is a good idea?
Now more than ever it is important to truly understand when, how,
and what a consumer wants to receive. Millennials are no exception; in fact, the
proof of concept. We grew up during the proliferation of direct marketing and
for that reason have the most exposure to spam and know how to avoid it. We are
the generation that grew up knowing the only thing to expect in a mailbox was
junk, phone numbers belong on a do not call list, and a spam box is always
larger than an inbox. Marketing atrophy quickly sets in and unless we are looking
for or expecting a message, it will not be seen.
So what is a brand to do? Just Ask!
For a generation that has a very low barrier to socially
expressing ourselves (sometimes too low), we are very open to telling brands
exactly what we want, how we want it and how often. After all, it is that kind
of behavior that has given us the reputation that we have. Enter preference
marketing and the next era of brand relationships. Tracking and analytics can
only get a marketing department so far, and the only way to ensure that you are
sending a message that is relevant to a consumer is to ask them.
This type of marketing is an excellent way for companies to
communicate in a timely and relevant manner, especially in channels that they
never before considered. Gen Y will be the proving ground for companies
as we push the envelope on the boundary between social and commercial. The only
way for companies to engage their customers and prospects in these new more
personal channels is to ask permission first.
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