Embed Size (px)
The evolving role of brands for the world's largest and most impactful generation.
Transcript of 8095 Refreshed
- 8095 REFRESHED The evolving role of brands for the worldslargest and most impactful generation
- Continuing the 8095 Conversation Edelman 8095 is an insights group studyingthe Millennial generation, born between 1980and 1995, to understand their evolvingrelationship with brands.In 2012, we refreshed our research with asurvey of 4,000 Millennials in 11 countries.
- Millennials in 2013 Why Millennials Matter To Marketers Global Trends 8095 Where Weve Been 8095 2.0 New data and insights Implications for marketers
- The Millennial Generation Goes By Many Names
- Millennials in 2013 The oldest are 33 years-old, the youngest are 18 Life defining moments include the Global Recession, 9/11, Asian Tsunami, Arab Spring, Facebook, smart phones First generation that may be worse off economically than their parents Most diverse and educated generation in history
- Their World Is Smaller, More Connected of Millennials across all 11 markets surveyed see theircountry as being influential on the world stage. *(Edelman Berland 8095 2.0 Survey 2012)
- Why Millennials Matter To MarketersBIG: The largest generation alive today 1.8 billion globally1 (out of 7 billion world population) 75% of workforce by 20252INFLUENTIAL: Impact purchase decisions of peers & parents Will outpace Boomer earnings by 2018 ($2.5+ trillion spending power)3 74% say they influence purchase decisions of other generations4UNIQUE: The first inherently digital generation Dont know a world without the Internet or smart phones1. (U.S. Census Bureau International Database 2012)2. (Business and Professional Womens Foundation 2011)3. (Harris Interactive and Deloitte study 2011)4. (Edelman Berland 8095 2.0 Survey 2012)
- Millennials are more likely torecommend products and starttrendsmore involved in popculture and activities that wouldcompel them to try new productsand recommend them to friends. -MINTEL, WORD OF MOUTH AND VIRAL MARKETING
- Trends That 8095ersAre Leading Today
- Global Urbanization For the first time in world history, more people live in cities or suburbs than rural locales1. Implication Millennial identities will be closely tied to the cities they live in, and marketers need to customize and target engagement.1. United Nations Department of Economic and Social Affairs/Population Division World Urbanization Prospects: The 2011 Revision
- Experiences Over Stuff The economy is forcing Millennials to delay purchases and demand a newlevel of value from the brands they buy. ImplicationMarketers must demonstrate how their products or services enable life experiences and deliver value.
- Rise (or fall) of the Millennial Dad Traditional gender roles are shifting. Six in 10 college students are female1, and men are taking over more household and purchasing responsibilities. Implication Marketers should lessen the focus on gender and other traditional audience segmentation. Appeal to the new blended nature of humanity and to the audiences influencing your target.1. (Digest of Education Statistics, 2010)
- Where Weve Been
- In 2010, Edelman launched 8095,an insights group founded on aneight-country study of theMillennial generation, bornbetween 1980 and 1995.The goal? To understand theirrelationship with brands, theactions they take on behalf ofbrands and how those actionscreate new opportunities formarketers.
- 8095 The benchmark 8095 study in 2010 revealed four insights. Brands are a partnership and form of self-expression Information is a key to influence Taking action on behalf of brands is a core value There is a reverberation effect taking place online, offline and increasingly on mobile devices
- Brands are a Partnership and Form of Self-Expression 1 in 3 look for brands to make a positive impact on is the #1 personal the world. identifier Millennials are willing to share online.*(Edelman Berland 8095 Survey 2010)
- Information is a Key to Influence Of Millennials consult four or more sources of information when making brand purchase decisions.*(Edelman Berland 8095 Survey 2010)
- Taking Action on Behalf of Brands is a Core Value take action on behalf of their trusted brands. are brand loyal and keep purchasing brands they like.*(Edelman Berland 8095 Survey 2010)
- Reverberation Effect Taking Place Online, Offline And Increasingly On Mobile Devices Average number of text messages young Millennials send every month1. Weekly volume of word-of-mouth impressions. Of which, 13.5 billion are offline and 1.2 billion are online2.1. The Nielsen Company, 20102. Keller Fay Groups TalkTrack, U.S. July 2010 June 2011
- 8095 2.0In October 2012, Edelman 8095 andresearch partner Edelman Berlandsurveyed 4,000 Millennials in 11 countries
- A CaveatA challenge in defining Millennials is that they are progressingthrough fundamentally different life stages.Millennials are not a monolithic bloc.The best Millennial study is directional rather than absolute, and digsdeep into the behaviors and cultural nuances of Millennials inindividual countries.8095 attempts to give a snapshot of commonalities that tie thegeneration together.
- 8095 2.0 The rise of realism, with a twist.Compared to the 2010 study, we see a shift in theways Millennials perceive their lives and future.While idealistic and optimistic, there is a newmeasure of realism.Millennials are growing up, and so too are theirviews of success. Their aspirations are surprisinglytraditional, but coming of age in the globalrecession has forced them to push back typicalstages of adulthood and has created a new breed ofentrepreneurs.For brands to matter to Millennials, average is nolonger enough. A whole new level of engagement,authenticity and purpose is necessary.
- The Global Recession has Created a Mix ofTraditional and Non-Traditional Values forMillennials, Sparking a New Type of Consumer
- The economy sucks for most, and itsdevastating to MillennialsDEFINED BY DEBTAverage $28,500 in student loans1WEAK JOB PROSPECTSUnemployment rates for Millennials are typically double the national average. In the U.S., Millennial unemployment is 12+% (7.9% is national average)2 In Spain, Millennial unemployment is 48% (22% is national average)3LOW NET WORTHIn the U.S., median net worth of people under 35 fell 37% between 2005 and2010; those over 65 took only a 13% hit.41. (Institute of Education Science 2012)2. (U.S. Department of Labor) 20123. (National Statistics Institute of Spain 2012)4. (U.S. Census 2012)
- Millennials Have a PR ProblemIf you follow recent headlines,Millennials are lazy, self-entitled, orworse.We believe much of the criticism isundeserved. They are coming ofage during one of the hardesteconomic and social environmentsthe world has seen.They are blazing new paths andfinding a new way through life.
- Despite Challenges, They RemainOptimistic, and Their