Keynote: Getting Inside the Millennial Mindset
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Transcript of Keynote: Getting Inside the Millennial Mindset
Getting into Millennials’Mindset Morley WinogradSeptember 15, 2015iMedia Summit
Understanding Generational Differences is Critical to Brand Success
Copyright John Gerzema/Young & Rubicam
Perceptions of Brand Quality Eroded 24%
Trust in Brands Declined by 50%
Since Millennials Entered the Consumer Marketplace
Millennials are NOT Generation Xin their Attitudes or Behaviors
July 16, 1990 May 8, 2000
Gen-X Childhood in Movies1964 Children of the Damned
1967 Rosemary’s Baby
1973 The Exorcist
1974 It’s Alive!
1976 Look What’s Happened to
Rosemary’s Baby
1976 The Omen
1976 Carrie
1977 Exorcist II: The Heretic
1977 Eraserhead
1978 It Lives Again
1978 Damien—Omen II
1978 Halloween
1979 The Brood
1980 The Children
1981 The Final Conflict
1981 Halloween II
1984 Firestarter
1984 Children of the Corn
1988 Child’s Play
There is only one thing wrong with the Davis baby….. It’s Alive
Millennial Childhood in Movies1982 E.T The Extra-Terrestrial
1986 Aliens
1987 Three Men and a Baby
1987 Raising Arizona
1987 Baby Boom
1989 The Little Mermaid
1989 Look Who’s Talking
1989 Parenthood
1990 Look Who’s Talking Too
1990 Home Alone
1991 Little Man Tate
1993 Three Men and a Little Lady
1993 Searching for Bobby Fisher
1994 The Lion King
1994 Angels in the Outfield
1997 Liar Liar
1998 Rugrats: The Movie
1999 Big Daddy
1999 The Iron Giant
2000 My Dog Skip
2001 The Princess Diaries
2002 Spy Kids
2001 Monsters, Inc.
2001 Harry Potter
2002 Big Fat Liar
2002 About a Boy
They changed her diapers.
She changed their lives . . .
Generation X Behavior
• Action Oriented
• Results Focused
• Self Reliant
• Risk Takers
• Informal
• Skeptical
• Technologically Savvy
July 16, 1990
Millennial Generation BehaviorMay 8, 2000
• Pragmatic
• Idealistic
• Inclusive
• Consensus Driven
• Risk Averse
• Optimistic
• Technologically Facile
Millennials’ Parents Are Their Friends• The Baby Boomers chose to become older parents in
the 1980s while Gen X moms reverted back to the earlier birth-age norm, which meant that two generations were having babies.
• Boomers rebelled against the parenting practices of their parents.
• They made conscious decisions not to say “because I told you so” or “because I’m the parent and you’re the child.”
• But discipline was still the order of the day for Millennial parents.
• They became friends with their children.
• They explained things to their children, (actions, consequences, options, etc.) – they wanted them to learn to make informed decisions.
• Media options
• Shared attention
• Consensus
• Customization
Increasing
• Gender gap
• Network TV
• Living on their own
• Risk taking
Millennials Are Different
Decreasing
Millennial and Gen X Brand Attributesare Different
Gen X attributes have dropped:
• Exclusive (-60%)
• Arrogant (-41%)
• Sensuous (-30%)
Millennial attributes have gained:
• Kind/Empathetic (+391%)
• Friendly (+148%)
• Socially Responsible (+63%)
Source: http://mashable.com/2012/06/22/data-created-every-minute/
Social Media Prosumers Drive Brand Reputation
You Can’t Shout Down a Social Network
• Ads are for Broadcast Media
• Conversations are for Social Media
• Tell a Story to Get People Engaged
Align to Millennial Values or Lose Your Market
• Today, 89% of adult Americans would consider switching brands to one associated with good cause, if price and quality were equal. In 1990, before Millennials, only 66% would do the same.
• 75% of Y&R’s spend shifters, mostly Millennials, make a point of buying from brands who “share their values.”
Email: [email protected]: Mike MorleyFacebook.com/mikeandmorleyTwitter: @mikeandmorleywww.mikeandmorley.com
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