Monday, December 29, 2008

#16 WHO ARE OUR CUSTOMERS AND EMPLOYEES? * (revised 6/10) generation Y "the milleniums"



Generation Y......... The “Milleniums”


They are here...They are now


They are already buying houses and landscaping their yards.


Do you treat them with respect as the future of your company?


Or do you watch them as aliens all the way out the door


Better pay attention and get a whole new attitude


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This material was gathered and compressed from many sources from many authors, publications and presentations. If you find your words in these profiles, please contact me and I will be happy to attribute your name to the comments.





They were born 1977-1994

17 to 33 years in 2010


Ask this generation who their heroes are, the majority say their parents."


Brands seeking to appeal to this generation in the name of rebellion will increasingly fall flat.


They will retain close parental bonds even after leaving home


They are likely to consult with their parents on major decisions


The "helicopter parents", parents who “hover” over the Millennium kids are increasingly found on campus


Millennials show greater interest in family, religion, and community


They have little common ground with the "slacker" archetype of youth


They are group-oriented


They more interested in the "watch me become we" alternative.

They embrace group-oriented concepts such as "leave no one behind"


This group uses rapid-fire communication via the Internet


They are less hung up on race, gender, or ethnicity than their parents,


Gen Y reflects some values held by Traditionalists. Like that “Greatest Generation,”

strong sense of morality,

be patriotic,

be willing to fight for freedom,

be sociable,

value home and family.


Gen Y is the most technically literate, educated, and ethnically diverse generation in history


They want to perform meaningful work that betters the world,


They want to work with committed co-workers with shared values


Making a lot of money tends to be less important to Gen Y than contributing to society, parenting well, and enjoying a full and balanced life


They are continually wired, plugged in, and connected to digitally streaming information, entertainment, and contacts


They are inclined to be positive, polite, curious, energetic, and respectful to parents and grandparents


Gen Y tends to favor an inclusive style of management, dislike slowness, and desire immediate feedback about performance


This group is likely to perform best when its abilities are identified and matched with challenging work that pushes it fully. Speed, customization, and interactivity


They are more likely to “rock the boat” than any prior generation


Generation Y tends to echo the values of the baby boomers.


This generation is more racially diverse:

One in three is not Caucasian.

One in four lives in a single-parent household.

Three in four have working mothers.


While boomers are still mastering Microsoft Windows 98, their kids are tapping away at computers in nursery school.

''Think of them as this quiet little group about to change everything,''


''It doesn't matter to me that Michael Jordan has endorsed Nikes,''

Missteps such as Nike's disastrous attempt to sponsor Olympic snowboarders two years ago and allegations of inhumane overseas labor practices added to Gen Y's scorn.


Gen Yers respond to humor, irony, and the (apparently) unvarnished truth.


''Image is nothing. Obey your thirst.''

Arizona Jeans brand has a new campaign showing teens mocking ads that attempt to speak their language.

The tagline? ''Just show me the jeans.''

The Internet's power to reach young consumers has not been lost on marketers. These days, a well-designed Web site is crucial for any company hoping to reach under-18 consumers.


Other companies are keeping in touch by E-mail.

''If a company can't communicate via E-mail,'' he says, ''the attitude is 'What's wrong with you?'''

"This is a generation that must be reckoned with. They are going to overtake the country."

One in nine high school students has a credit card co-signed by a parent


Most expect to have careers and are already thinking about home ownership

'

'For this generation, the computer is like a hot rod,''


Make your products cool for the kids as well as their parents


Exploit contests and promotions


Become "hip


Gen Y relies on peer recommendations

"But they are far more socially conscious than any generation since World War II. They believe in giving, participation in nonprofits, and in donations of time and resources."

91% of today's teens value companies and products that support good causes.

89% of teens would be likely to switch brands to one associated with a good cause.

Companies that support causes will win teen loyalty and dollars,

Deliver consistent, excellent service to this group

Understand the teen/Gen Y group. Do homework and don't make assumptions that they're all one homogeneous group. Acknowledge the differences.

Don't talk down to them. "The most common characteristic is that they know a lot of stuff. The awareness level is very high," Burnett says.

When you meet a Generation Y'er in your store and they ask you about your product be sure you know what you are talking about.


The Generation Xers and Generation Ys are starting to come up with new and inventive ideas.


They're very creative; they are free thinkers and they need people who are creative and think in the same manner.


They buy because they trust you," Alessandra said. "If they don't trust you and they don't have a relationship with you, they're not going to stay with you.


Young customers are looking for customer service


You may have a great price but you won't be able to retain your clients unless you have world class, follow up service.


Ease of doing business attracts young consumers


A lot of retailers will think that 44-year-old women are making most purchasing decisions," Mooney said, "but it's really the 16-year-olds."


They're word-of-mouth sway doesn't come at a party or family gathering but from a wide swath of members of their greater online network.


The power of their network -- and how much influence they can have so quickly -- is just enormous,"


I may not always do what she wants, but I respect her opinion."


This is Generation i, as in influencers. "That generation is the most informative and the most influential generation we have ever seen,"










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