Commercial Ink - Marketing to Generation Y

Marketing to Generation Y

"Generation Y" are 71 million strong and spend roughly $200 billion annually, an amount that will only increase in years to come. They are the next largest generation to Baby Boomers, and their buying power is not to be ignored. Born between 1977 and 1994, they are the sons and daughters of Baby Boomers, and the oldest of them are now in the work force and starting families, soon to be replacing Baby Boomers. Marketers are now seeing the need to know how to reach this large and diversified group.

When marketing to Generation Y it is important to bare mind that they do not trust traditional advertising as their parents know it. On the contrary of the slick commercial ads that "got" their parents, "Gen Yer's" appreciate clear, concise messages, free of ambiguity. Notorious for their short attention spans, they will become easily bored with advertising that is long and drawn out. Many Gen Yer's have seen the previous generations "waste time," and prides the ability to multi-task constantly.

Also called "Millennials" and "Echo Boomers", Generation Y is many times described using terms like optimistic, cynical, and opinionated. Politics do not mean as much, and social issues mean more. The group was raised being told "anything is possible," a mantra many continue to live by, and although more tolerant of differences than previous generations, the group is less tolerant of authority. Even in advertising, the group does not like to be told what to do.

Lastly, marketers must remember that Generation Y was raised with technology. Generation Y saw some of the most rapid advancement of any civilization in history, much less their parents before them. It is a rarity that a younger generation teaches an older one. Anything new, advanced, and computerized will be seen as an indicator of credibility to these consumers. The group loves to see the internet reaching it's true potential and values strongly the factor of convenience.

Although a difficult market to tap, the group is known for gathering data from each other - peer to peer recommendations mean more to them then any other form of information. In other words, Generation Y members rely heavily on "word of mouth" now referred to as social media. Dark marketing or non-traditional advertising is looked at as more credible than the same old dog and pony show. False promises by advertisers are not easily forgiven or overlooked. In fact, the group prides itself on being "aware" and making peers aware, and will run at the first sight of false advertising. On the flip-side, winning over this group and constantly evolving to meet their needs means a loyal following by a group that will soon demand buying respect.

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