Reaching Millennials - Responding to Generational Diversity in the Workplace
Millennials: Shifting the Workplace & the Total Retail Experience
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Transcript of Millennials: Shifting the Workplace & the Total Retail Experience
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Dennis Devlin is currently CEO of Consumer Clarity, which he founded in 2009. Consumer Clarity is a consumer marketing consultancy specializing in millennial consumer and shopper insights and strategy development for consumer product manufacturers, consumer service providers and retailers. Dennis has been involved in insights and strategy work for more than 25 years, with the last 7 years focused on the millennial consumer and shopper.
Dennis was awarded the Entrepreneur of the Year award by the Legacy Center in 2011-2012, celebrating entrepreneurial success and was very recently name the 2016 National Chapter Volunteer of the Year for the American Marketing Association.
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MILLENNIALS
Shifting the Workplace & the Total Retail Experience
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PLAYMillennials: Are they really like this?
Edited video intro (Youve Gotta Love Millennials):Mp4: Click to DownloadVimeo (Password: TEMPOE): https://vimeo.com/166511438YouTubeLink: https://www.youtube.com/watch?v=gXhNdSMZoOU&feature=youtu.be
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PLAYMillennials: Are they really like this?
Edited video intro (Youve Gotta Love Millennials):Mp4: Click to DownloadVimeo (Password: TEMPOE): https://vimeo.com/166511438YouTubeLink: https://www.youtube.com/watch?v=gXhNdSMZoOU&feature=youtu.be
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MILLENNIALS:Shifting the Workplace & the Total Retail Experience
MILLENNIALS IMPACT has been described IN TERMS OF A TIDAL WAVE. WHILE THEIR IMPACT IS ALREADY BEING FELT WE ARE ONLY JUST BEGINNING TO REALIZE the FULL EFFECT of this generation .Keynote 5
What You Can Expect To Learn:Realize impact & begin to understand themEffective interaction with millennial customers & employees
MILLENNIALS IMPACT has been described IN TERMS OF A TIDAL WAVE. WHILE THEIR IMPACT IS ALREADY BEING FELT WE ARE ONLY JUST BEGINNING TO REALIZE the FULL EFFECT of this generation .Keynote 6
CEO, Consumer Clarity Dennis Devlin
25 years experience marketing strategy, insights & consultation7 years dedicated to Millennial consumers/shopper insights Entrepreneur of the Year, Legacy Center 2011/12President, American Marketing Association Cincinnati Chapter 2013/14National Chapter Volunteer of the Year, American Marketing Association 2016
Dennis Devlin is currently CEO of Consumer Clarity, which he founded in 2009. Consumer Clarity is a consumer marketing consultancy specializing in millennial consumer and shopper insights and strategy development for consumer product manufacturers, consumer service providers and retailers. Dennis has been involved in insights and strategy work for more than 25 years, with the last 7 years focused on the millennial consumer and shopper.Dennis was awarded the Entrepreneur of the Year award by the Legacy Center in 2011-2012, celebrating entrepreneurial success and was very recently name the 2016 National Chapter Volunteer of the Year for the American Marketing Association.
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Why shouldyou care? Foundation for Millennial Effectiveness Millennials as Retail Consumers Millennials in the Retail Workforce
MILLENNIALS IMPACT has been described IN TERMS OF A TIDAL WAVE. WHILE THEIR IMPACT IS ALREADY BEING FELT WE ARE ONLY JUST BEGINNING TO REALIZE the FULL EFFECT of this generation .Keynote 8
FOUNDATION FOR MILLENNIAL EFFECTIVENESS
10DEMOGRAPHICALLY
Upper Teens to mid-30sMENTALLY
The Millennial Mentality
BEHAVIORALLY Life Stages & Response to Brands/MktgUnderlying Values Across the Generation Bind ThemWho are they?
Defining the Millennials
We tend to DEFINE millennials by their age, but their age really doesnt define them. Rather, it is how they think and behave that defines them. 10
11Over 80 Million in U.S. >$600B spend annually
Influence other generations purchasesAs a Customer
By 2020, millennials will comprise ~50% of employed personsAs an EmployeeNow the largest generation, EVER!The Impact of Millennials
Millennials impact is significant, regardless of the role they play as a customer or as an Employee11
13Understanding millennials
SO MUCH INFORMATION IN THE MEDIA THAT IS SHARED IN SOUND BYTES SIMPLY IS INACCURATE ABOUT MILLENNIALS. BECAUSE IT IS SHARED WIDELY THESE INACCURACIES BECOME PERVASIVE IN PEOPLES MINDS. ITS TIME TO HANDLE THE TRUTH.13
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All millennials have an attitude of entitlement.
Myth #1
Will make a reference to how millennials actually have an attitude of empowerment.
WE MAY DO A QUICK INTERACTIVE ENGAGEMENT OF THE AUDIENCE HOW MANY PEOPLE BELIEVE THAT MILLENNIALS ARE . . . .?
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Theyre digital addicts who avoid face-to-face interaction.
Myth #2
Will make a reference to how millennials actually have an attitude of empowerment.
WE MAY DO A QUICK INTERACTIVE ENGAGEMENT OF THE AUDIENCE HOW MANY PEOPLE BELIEVE THAT MILLENNIALS ARE . . . .?
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Millennials dont care about the company they work for.
Myth #3
Will make a reference to how millennials actually have an attitude of empowerment.
WE MAY DO A QUICK INTERACTIVE ENGAGEMENT OF THE AUDIENCE HOW MANY PEOPLE BELIEVE THAT MILLENNIALS ARE . . . .?
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Millennials are the job-hopping generation.
Myth #4
Will make a reference to how millennials actually have an attitude of empowerment.
WE MAY DO A QUICK INTERACTIVE ENGAGEMENT OF THE AUDIENCE HOW MANY PEOPLE BELIEVE THAT MILLENNIALS ARE . . . .?
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They can be lumped together in one group
Myth #5they are all the same, right?
Will make a reference to how millennials actually have an attitude of empowerment.
WE MAY DO A QUICK INTERACTIVE ENGAGEMENT OF THE AUDIENCE HOW MANY PEOPLE BELIEVE THAT MILLENNIALS ARE . . . .?
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19REALIZE THE SIGNIFICANT IMPACT MILLENNIALS ARE MAKING & PRIORITIZE THEMMillennial Effectiveness?KNOW THAT MILLENNIALS ARE DEFINED BY HOW THEY THINK AND BEHAVE, NOT BY THEIR AGEUNDERSTAND MILLENNIALS and respond...
QUICK SECTION SUMMARY CONTEXTUALLY, HERE ARE THE FOUNDATIONAL PIECES NECESSARY TO BECOME EFFECTIVE WITH MILLENNIALS.19
MILLENNIALS AS CUSTOMERS
21Brand TransparencyBrand AuthenticityConsumer-Centric Shopping EXPERIENCEIndividualizationChoosing Freely10 DEMANDS on retailersA 3-Way ConnectionPassion PurveyingSelective ValueSocietal Impact A Frictionless Journey
THE EXPECTATIONS OF THE MILLENNIAL SHOPPER ARE REQUIRING RETAILERS TO UP THEIR GAME. YOU MUST MARKET TO THE AUDIENCE, NOT TO THE MASSES.21
22Influencing your sales todayDo shop in stores pre-shop onlineLoyal (redefined - to the team vs. company)Do not treat brands like peopleDo care about brand relationshipsfacts ABOUT THE MILLENNIAL CUSTOMER
HERE ARE SOME MYTHS ABOUT MILLENNIALS AS RETAIL CUSTOMERS. ITS TIME TO BUST SOME MORE MYTHS!
INCLUDE A BRIEF SO WHAT? FOR EACH OF THEM
TRANSITION TO VIDEO HERE WHEN MOVING TO NEXT SLIDE22
23Up & ComersEclecticTrendsettersMavensSkepticsNot all millennial customers are the same!Millennial Customers VaryYOU MUST SEGMENT YOUR MILLENNIAL CUSTOMERS
DONT TREAT ALL MILLENNIAL CUSTOMERS THE SAME. YOU NEED TO SEGMENT THEM. HEERE IS ONE EXAMPLE OF A MILLENIAL RETAIL CUSTOMER SEGMENTATION FROM ORACLE.23
24How do they interact with each other? Millennial Customers Vary
PLAY
DONT TREAT ALL MILLENNIAL CUSTOMERS THE SAME. YOU NEED TO SEGMENT THEM. HEERE IS ONE EXAMPLE OF A MILLENIAL RETAIL CUSTOMER SEGMENTATION FROM ORACLE.
Millennial Shopping videos of Henry/Gabby:Shopping Video:Mp4 attached in .zip file.YouTube Link: https://youtu.be/wIsI9EQuv0o
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25How do they interact with each other? Millennial Customers Vary
PLAY
DONT TREAT ALL MILLENNIAL CUSTOMERS THE SAME. YOU NEED TO SEGMENT THEM. HEERE IS ONE EXAMPLE OF A MILLENIAL RETAIL CUSTOMER SEGMENTATION FROM ORACLE.
Millennial Shopping videos of Henry/Gabby:Shopping Video:Mp4 attached in .zip file.YouTube Link: https://youtu.be/wIsI9EQuv0o
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26Creating an exceptional experience at every step in the customer journey?Making the interaction frictionless?Providing opportunities for customization and personalization?Demonstrating value?Building loyalty?Are you, AS A RETAILER, millennial-ready?Millennial Customer Effectiveness
ARE YOU, AS A RETAILER, MILLENNIAL-READY? YOU MUST BEGIN ASKING THE CRITICAL QUESTIONS IN ORDER TO BECOME EFFECTIVE WITH MILLENNIAL CUSTOMERS.
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MILLENNIALS ASEMPLOYEES
28Helpfulhints
Things that retailers can implementRecruiting Millennials8
RESEARCH WITH COMPANIES THAT HAVE BEEN MOST EFFECTIVE WITH MILLENNIAL EMPLOYEES HAVE IDENTIFIED KEYS TO ATTRACTING MILLENNIALS.
WILL INCLUDE SO WHAT? TO EACH OF THESE.28
29TWO PRIMARY DRIVERS:A company they TRUSTA company that provides HIGH QUALITY products + services
Companies for Millennials
DEMONSTRATED TRANSPARENCY AND A FOCUS ON CULTURE HELPS ATTRACT.
TWO DRIVERS HAVE BEEN IDENTIFIED THAT HELP IDENTIFY COMPANIES THAT MILLENNIALS SEEK TURST AND HIGH QUALITY.
REFERENCE TEMPOES CULTURE29
DONT
30Making a difference really mattersEmbrace a millennial mentalityGive them a reason to believeMindful mentorshipOver deliver on expectations
RECOMMENDATIONs retailers can implementManaging Millennials
DONT
DO
Learn the millennial language
HOW DO YOU MANAGE MILLENNIALS IN THE WORKPLACE? HERE ARE SOME RECOMMNEDATIONS.
INCLUDE SO WHAT? REFERENCES ON EACH
Three videos of Russ:Dont Language Video 1:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511567YouTube Link: https://youtu.be/64Cd80LtMok
Dont Language Video 2:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511586YouTubelink: https://youtu.be/YtmA5ohjYes
Do Language:Mp4 attached in .zip fileVimeo (Password: TEMPOE): https://vimeo.com/166511552YouTubelink: https://youtu.be/RKHRmNfg6iw
30
DONT
31Making a difference really mattersEmbrace a millennial mentalityGive them a reason to believeMindful mentorshipOver deliver on expectations
DONT
DO
Learn the millennial language
RECOMMENDATIONs retailers can implementManaging Millennials
HOW DO YOU MANAGE MILLENNIALS IN THE WORKPLACE? HERE ARE SOME RECOMMNEDATIONS.
INCLUDE SO WHAT? REFERENCES ON EACH
Three videos of Russ:Dont Language Video 1:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511567YouTube Link: https://youtu.be/64Cd80LtMok
Dont Language Video 2:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511586YouTubelink: https://youtu.be/YtmA5ohjYes
Do Language:Mp4 attached in .zip fileVimeo (Password: TEMPOE): https://vimeo.com/166511552YouTubelink: https://youtu.be/RKHRmNfg6iw
31
DONT
32Making a difference really mattersEmbrace a millennial mentalityGive them a reason to believeMindful mentorshipOver deliver on expectations
RECOMMENDATIONs retailers can implementManaging Millennials
DONT
DO
Learn the millennial language
HOW DO YOU MANAGE MILLENNIALS IN THE WORKPLACE? HERE ARE SOME RECOMMNEDATIONS.
INCLUDE SO WHAT? REFERENCES ON EACH
Three videos of Russ:Dont Language Video 1:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511567YouTube Link: https://youtu.be/64Cd80LtMok
Dont Language Video 2:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511586YouTubelink: https://youtu.be/YtmA5ohjYes
Do Language:Mp4 attached in .zip fileVimeo (Password: TEMPOE): https://vimeo.com/166511552YouTubelink: https://youtu.be/RKHRmNfg6iw
32
DONT
33Making a difference really mattersEmbrace a millennial mentalityGive them a reason to believeMindful mentorshipOver deliver on expectations
DONT
DO
Learn the millennial language
RECOMMENDATIONs retailers can implementManaging Millennials
HOW DO YOU MANAGE MILLENNIALS IN THE WORKPLACE? HERE ARE SOME RECOMMNEDATIONS.
INCLUDE SO WHAT? REFERENCES ON EACH
Three videos of Russ:Dont Language Video 1:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511567YouTube Link: https://youtu.be/64Cd80LtMok
Dont Language Video 2:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511586YouTubelink: https://youtu.be/YtmA5ohjYes
Do Language:Mp4 attached in .zip fileVimeo (Password: TEMPOE): https://vimeo.com/166511552YouTubelink: https://youtu.be/RKHRmNfg6iw
33
DONT
34Making a difference really mattersEmbrace a millennial mentalityGive them a reason to believeMindful mentorshipOver deliver on expectations
RECOMMENDATIONs retailers can implementManaging Millennials
DONT
DO
Learn the millennial language
HOW DO YOU MANAGE MILLENNIALS IN THE WORKPLACE? HERE ARE SOME RECOMMNEDATIONS.
INCLUDE SO WHAT? REFERENCES ON EACH
Three videos of Russ:Dont Language Video 1:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511567YouTube Link: https://youtu.be/64Cd80LtMok
Dont Language Video 2:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511586YouTubelink: https://youtu.be/YtmA5ohjYes
Do Language:Mp4 attached in .zip fileVimeo (Password: TEMPOE): https://vimeo.com/166511552YouTubelink: https://youtu.be/RKHRmNfg6iw
34
DONT
35Making a difference really mattersEmbrace a millennial mentalityGive them a reason to believeMindful mentorshipOver deliver on expectations
RECOMMENDATIONs retailers can implementManaging Millennials
DONT
DO
Learn the millennial language
HOW DO YOU MANAGE MILLENNIALS IN THE WORKPLACE? HERE ARE SOME RECOMMNEDATIONS.
INCLUDE SO WHAT? REFERENCES ON EACH
Three videos of Russ:Dont Language Video 1:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511567YouTube Link: https://youtu.be/64Cd80LtMok
Dont Language Video 2:Mp4 attached in .zip file.Vimeo (Password: TEMPOE): https://vimeo.com/166511586YouTubelink: https://youtu.be/YtmA5ohjYes
Do Language:Mp4 attached in .zip fileVimeo (Password: TEMPOE): https://vimeo.com/166511552YouTubelink: https://youtu.be/RKHRmNfg6iw
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36BE SURE TO REDEFINE EXPECTATIONS ABOUT TENURE LENGTHCompetitive compensationOngoing feedbackGamification motivatorsFoster learningMobile acceptanceNurture culturePerformance metrics
Helpful hints that retailers can implementRetaining Millennials
ATTRACTING MILLENNIALS IS ONE THING; RETAINING THEM IS ANOTHER. YOU NEED TO REDEFINE YOUR EXPECTATIONS ABOUT WHAT IS SHORT AND LONG TERM TENURES FOR THIS GENERATION, BUT THERE ARE SUGGESTIONS TO KEEP THME LONGER.
INCLUDE SO WHAT? REFERENCES ON EACH
WILL INCLUDE VIDEO CLIP HERE36
37Embracing millennial-friendly ideologies, and have a transparent organizationEstablished an appealing workplace culture Inspire employees to make a differenceEngagement and support strategies in place to attract and retainAre you, AS A RETAILER, millennial-ready?Millennial Employee Effectiveness
ARE YOU, AS A RETAIL EMPLOYER, MILLENNIAL-READY? YOU MUST BEGIN ASKING THE CRITICAL QUESTIONS IN ORDER TO BECOME EFFECTIVE WITH MILLENNIAL Employees.37
CLOSING
39Retailers must rise to meet greater expectationsBust the myths to see the truthsDont market the same way to the entire generation Millennials as Customers Have you thought aboUT...? Trust + high quality are drivers of employer choice Critical to demonstrate transparency & foster cultureMaking a difference matters, ensure meaningful work Engagement & support programs are critical for retaining Millennials AS EMPLOYEES
THE TAKEAWAY LEARNINGS . . .39
THANK YOU!NOW, ANY QUESTIONS?