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Challenge of the Millennium:
     Motivating Gen-Y
      Strategies for managers and marketers

                       Clara Miller
   The Central Exchange • Professional Development Series
                       July 15, 2009

                                      © 2009 Morningstar Communications
“Children now love luxury; they
have bad manners, contempt for
authority; they allow disrespect for
elders...they contradict their parents
and tyrannize their teachers...”

              - Plato, by Socrates
Today, We Will...
• Discuss attributes of Millennials
• Examine best practices for
  working with Millennials

• Examine best practices for
  marketing to Millennials
The Millennials


  1977 - 2002
Millennials Matter

• Spending power - $200 billion+
• “Echo-Boomers” - 86 million
• Facebook Election
Researching
Midwestern Millennials
• Online study distributed via Facebook,
  Twitter, Email

• 407 completes, 251 from Midwest
  •   Spanned income ranges
  •   Mix of urban and suburban
  •   College degrees
Gen-Next
the next great generation
  iPod generation
              Gen-Why
  Echo Boomers
        Gen-Whine
      Gen-Y           Connecteds
                 millennials
           personalization generation
               Trophy Generation
              Gen-Me
overly assertive
        coddled         entitled
   digital    optimistic narcissistic
       restless      connected
    future-oriented inclusive
    energetic      diverse ambitious
 innovative             dreamers confident
                   self-centered
       influential     tech-savvy
          opportunity-driven
       multi-tasking
             trendsetters
The Mindset List
                                                 Class of 2003

              • Most of them were born in 1981.
              • They owned and operated a Trapper-Keeper.
              • They know what “psych” means.
              • They can, right now, hum the theme to Inspector Gadget.
              • They remember when Saturday Night Live was funny.
              • ET, Gremlins and The Hulk provided their lunch box themes.
Beloit University, Mindset List, Class of 2003
Shaping Events
• Technology: Internet, cell phones
• Entertainment: Reality TV, boy bands
• Violence: 9/11, Columbine, Wars in the Middle East
• Politics: Clinton scandal, 2000 election uncertainty
• Lifestyle: Rise of suburbs, recycling
Midwest Millennial:
        Home View
• Believe kids and careers are both possible
• 60% consider themselves religious
• 75% participate in philanthropic activities
• Live independently, but don’t own homes
• 17% are blogging
Midwest Millennial:
         Work View
• They aren’t entrepreneurs -- yet
• Almost half make $50,000+ (household)
• Philanthropy also is important at work
• 64% rely on parents for advice
• Satisfied with their jobs and number of hours worked
Motivating
Millennials
 at Work
What attributes, benefits and perks
are important to you?

•   Must Have
•   Like to Have
•   Will Give Up for Right Job
•   Not a Priority
Universal motivators

1. Compensation

2. Health insurance

3. Recognition for a job well done
Enable Impact on
   Company Outcomes

• 23% must-have, 63% like to have
• Eager to accomplish ambitious goals

Manager Tip: Identify challenges they can
             help address.
Outline Clear Paths
     to Advancement

• 60% say it’s a must-have
• Opportunity valued over job security


Manager Tip: Develop and use roadmaps.
Allow Access
        to Leadership

• 32% must-have, 59% like to have
• Professional development goes both ways


     Manager Tip: Foster mentoring.
Evolve Your Culture

• Flexible work hours: 25% must-have,
  60% like to have

• Casual dress code, personal space and
  upbeat culture also valued


  Manager Tip: Consider embracing this.
Infuse Authenticity
     in Communications

  • “BS” meters are sensitive
  • Peer opinions are key


Manager Tip: Be clear, consistent, customized.
Common Social
        Media Outlets

•   Facebook   • Twitter
•   MySpace    • Flickr
•   LinkedIn   • Blogging
•   YouTube
Motivating and Marketing to Millennials @ The Central Exchange
Keep Social Media Social

• Most consider it a personal space
• Mixed on appropriateness of employer
  researching them


      Manager Tip: Use LinkedIn.
Motivating Millennials
          At Work
•   Universal motivators
•   Enable impact on company outcomes
•   Outline clear paths to advancement
•   Allow access to leadership
•   Modify your culture
•   Infuse authenticity in communications
•   Keep social media social
Marketing to
Millennials
Purchase Drivers
           • Cheap cost with good quality
           • Peer recommendations
           • Fast service/convenience
           • An “experience”
           • A little bit on the quirky side
Fast Company, 2008
Information Sources
• EACH OTHER
• Social Networks
• Texting
• Instant Message
• Magazines
Tolerance for Marketing
• Direct Mail        Most Tolerant

• Email
• Facebook message
• Twitter message
• Text message
• Phone call         Least Tolerant
Know if Mail
           Makes Sense
• 73% use coupons from direct mail
• Pay bills via mail vs. internet



Marketer Tip: “Old school” can still be cool.
Give a Reason to Read

• Tolerance is tolerance
• Email needs to evolve



Marketer Tip: Coupons, contests, feedback
Enlist Facebook Fans
            • Reasons for joining fan pages:
                  •      Getting news or product updates
                  •      Having access to promotions
                  •      Viewing or downloading music or videos
                  •      Submitting opinions
                  •      Connecting with other consumers

                        Marketer Tip: Create a fan page.
The Participatory Marketing Network, 2009
Motivating and Marketing to Millennials @ The Central Exchange
Motivating and Marketing to Millennials @ The Central Exchange
Spare the Ads
            • 84% notice ads
            • 80% find ads irrelevant
            • 36% never click

                   Marketer Tip: Tread carefully with ads.
The Participatory Marketing Network, 2009
Bolster Customer
    Service with Twitter
• 25% are on Twitter
• Authentic, personalized
  communication

   Marketer Tip: Empower your staff.
Motivating and Marketing to Millennials @ The Central Exchange
Motivating and Marketing to Millennials @ The Central Exchange
Motivating and Marketing to Millennials @ The Central Exchange
B-to-B Marketing
 to Millennials
Help Millennials
         Recommend You

  • Researching you online
  • Make sure you’re there

Marketer Tip: Keep sites fresh, consider a blog.
Connect on LinkedIn

• Get your foot in the door.
• Position your expertise.
Motivating and Marketing to Millennials @ The Central Exchange
Connect on LinkedIn

• Get your foot in the door.
• Position your expertise.

 Marketer Tip: Build a LinkedIn strategy.
Marketing to Millennials
•   Practice integrated marketing communications
•   Know if mail makes sense
•   Give a reason to read
•   Enlist Facebook fans
•   Spare the ads
•   Bolster customer service on Twitter
•   Help Millennials recommend you
•   Connect on Linked In
Today We...
• Discussed a snapshot of Millennials
• Examined manager’s tips for
  working with Millennials

• Examined trends in marketing
  to Millennials
Thank You
Clara Miller
Morningstar Communications
Email: cmiller@morningstarcomm.com
LinkedIn: www.linkedin.com/in/ClaraMiller

Blog: www.morningstarcomm.com/
LuminaryBlog.aspx

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Motivating and Marketing to Millennials @ The Central Exchange

  • 1. Challenge of the Millennium: Motivating Gen-Y Strategies for managers and marketers Clara Miller The Central Exchange • Professional Development Series July 15, 2009 © 2009 Morningstar Communications
  • 2. “Children now love luxury; they have bad manners, contempt for authority; they allow disrespect for elders...they contradict their parents and tyrannize their teachers...” - Plato, by Socrates
  • 3. Today, We Will... • Discuss attributes of Millennials • Examine best practices for working with Millennials • Examine best practices for marketing to Millennials
  • 4. The Millennials 1977 - 2002
  • 5. Millennials Matter • Spending power - $200 billion+ • “Echo-Boomers” - 86 million • Facebook Election
  • 6. Researching Midwestern Millennials • Online study distributed via Facebook, Twitter, Email • 407 completes, 251 from Midwest • Spanned income ranges • Mix of urban and suburban • College degrees
  • 7. Gen-Next the next great generation iPod generation Gen-Why Echo Boomers Gen-Whine Gen-Y Connecteds millennials personalization generation Trophy Generation Gen-Me
  • 8. overly assertive coddled entitled digital optimistic narcissistic restless connected future-oriented inclusive energetic diverse ambitious innovative dreamers confident self-centered influential tech-savvy opportunity-driven multi-tasking trendsetters
  • 9. The Mindset List Class of 2003 • Most of them were born in 1981. • They owned and operated a Trapper-Keeper. • They know what “psych” means. • They can, right now, hum the theme to Inspector Gadget. • They remember when Saturday Night Live was funny. • ET, Gremlins and The Hulk provided their lunch box themes. Beloit University, Mindset List, Class of 2003
  • 10. Shaping Events • Technology: Internet, cell phones • Entertainment: Reality TV, boy bands • Violence: 9/11, Columbine, Wars in the Middle East • Politics: Clinton scandal, 2000 election uncertainty • Lifestyle: Rise of suburbs, recycling
  • 11. Midwest Millennial: Home View • Believe kids and careers are both possible • 60% consider themselves religious • 75% participate in philanthropic activities • Live independently, but don’t own homes • 17% are blogging
  • 12. Midwest Millennial: Work View • They aren’t entrepreneurs -- yet • Almost half make $50,000+ (household) • Philanthropy also is important at work • 64% rely on parents for advice • Satisfied with their jobs and number of hours worked
  • 14. What attributes, benefits and perks are important to you? • Must Have • Like to Have • Will Give Up for Right Job • Not a Priority
  • 15. Universal motivators 1. Compensation 2. Health insurance 3. Recognition for a job well done
  • 16. Enable Impact on Company Outcomes • 23% must-have, 63% like to have • Eager to accomplish ambitious goals Manager Tip: Identify challenges they can help address.
  • 17. Outline Clear Paths to Advancement • 60% say it’s a must-have • Opportunity valued over job security Manager Tip: Develop and use roadmaps.
  • 18. Allow Access to Leadership • 32% must-have, 59% like to have • Professional development goes both ways Manager Tip: Foster mentoring.
  • 19. Evolve Your Culture • Flexible work hours: 25% must-have, 60% like to have • Casual dress code, personal space and upbeat culture also valued Manager Tip: Consider embracing this.
  • 20. Infuse Authenticity in Communications • “BS” meters are sensitive • Peer opinions are key Manager Tip: Be clear, consistent, customized.
  • 21. Common Social Media Outlets • Facebook • Twitter • MySpace • Flickr • LinkedIn • Blogging • YouTube
  • 23. Keep Social Media Social • Most consider it a personal space • Mixed on appropriateness of employer researching them Manager Tip: Use LinkedIn.
  • 24. Motivating Millennials At Work • Universal motivators • Enable impact on company outcomes • Outline clear paths to advancement • Allow access to leadership • Modify your culture • Infuse authenticity in communications • Keep social media social
  • 26. Purchase Drivers • Cheap cost with good quality • Peer recommendations • Fast service/convenience • An “experience” • A little bit on the quirky side Fast Company, 2008
  • 27. Information Sources • EACH OTHER • Social Networks • Texting • Instant Message • Magazines
  • 28. Tolerance for Marketing • Direct Mail Most Tolerant • Email • Facebook message • Twitter message • Text message • Phone call Least Tolerant
  • 29. Know if Mail Makes Sense • 73% use coupons from direct mail • Pay bills via mail vs. internet Marketer Tip: “Old school” can still be cool.
  • 30. Give a Reason to Read • Tolerance is tolerance • Email needs to evolve Marketer Tip: Coupons, contests, feedback
  • 31. Enlist Facebook Fans • Reasons for joining fan pages: • Getting news or product updates • Having access to promotions • Viewing or downloading music or videos • Submitting opinions • Connecting with other consumers Marketer Tip: Create a fan page. The Participatory Marketing Network, 2009
  • 34. Spare the Ads • 84% notice ads • 80% find ads irrelevant • 36% never click Marketer Tip: Tread carefully with ads. The Participatory Marketing Network, 2009
  • 35. Bolster Customer Service with Twitter • 25% are on Twitter • Authentic, personalized communication Marketer Tip: Empower your staff.
  • 39. B-to-B Marketing to Millennials
  • 40. Help Millennials Recommend You • Researching you online • Make sure you’re there Marketer Tip: Keep sites fresh, consider a blog.
  • 41. Connect on LinkedIn • Get your foot in the door. • Position your expertise.
  • 43. Connect on LinkedIn • Get your foot in the door. • Position your expertise. Marketer Tip: Build a LinkedIn strategy.
  • 44. Marketing to Millennials • Practice integrated marketing communications • Know if mail makes sense • Give a reason to read • Enlist Facebook fans • Spare the ads • Bolster customer service on Twitter • Help Millennials recommend you • Connect on Linked In
  • 45. Today We... • Discussed a snapshot of Millennials • Examined manager’s tips for working with Millennials • Examined trends in marketing to Millennials
  • 46. Thank You Clara Miller Morningstar Communications Email: cmiller@morningstarcomm.com LinkedIn: www.linkedin.com/in/ClaraMiller Blog: www.morningstarcomm.com/ LuminaryBlog.aspx