Marketing to Gen Y

<h1>Marketing to Gen Y</h1>Author: <a title="Sparxoo" href="http://www.articlesbase.com/authors/sparxoo/122834.htm">Sparxoo</a> To understand the market influence of Gen Y, let’s begin with some simple math: 150+50=200. Put a dollar sign in front of the 200 and billion behind it and you have the total buying muscle that is Gen Y. Gen Y spends nearly $150 billion out-of-pocket with nearly $50 billion in buying influence, tallying the buying power of teens and young professionals to $200 billion. These teens and young professionals (many not having left the nest) influence 81% of their families’ apparel purchases and 52% of their car choices, according to online marketing expert, Kelly Mooney. Generation Y can be difficult to market to, because they are acutely aware of the fact that they are constantly bombarded with thousands of messages every day. Whether it is in print, on their phones, tv, web or outdoor, Gen Y has emerged as a generation that has learned to ignore. And what are they buying? Think impact. Of teens 12-17, 91% are investing in products that invest in social causes and 89% would abandon brands for those creating positive social, economic and eco impact, according to Cone/Roper. Remember (RED)? (PRODUCT) Red was cause-related-marketing at its most shining, sparkling, computing, t-shirt wearing best. Apple Inc., American Express, Starbucks, Converse, Gap, Hallmark, Dell… and the company all star list goes on. Apply some of the basic trends of Gen Y to your medium and voilla you’ve gotten a glimpse of a possible future. Impact is just one of the many strategies we’re going to discuss. When we consider the state of the media, we shouldn’t just jump on the bandwagon and say “told ya so” or “too bad so sad” to newspapers or tv. Despite conventional thought, every media has a future. Just as tv didn’t kill the radio star, or the Hulu squash prime time, there is a future for all media. Though it might be difficult to envision a tween picking up a newspaper, what if that newspaper were the Daily Kos? Think out-side-of-the-box. Don’t let innovation be trapped above the fold. Consider the future of media as Gen Y updating tradition. So how can your organization capture the attention of GenY? How can you build a brand that will have Gen Y coming back for more? To read more about <a href="http://sparxoo.com/2009/03/27/marketing-to-gen-y/">marketing to Gen Y</a>, visit <a href="http://sparxoo.com">Sparxoo.com</a>.About the Author: Sparxoo is a business blog that inspires breakthrough by tomorrow’s leaders. We are a strategy consulting firm with a pulse on marketing, branding, and development. See our talented team of experts and our parent company dCap Advisors.Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/culture-articles/marketing-to-gen-y-1023671.html" title="Marketing to Gen Y">Marketing to Gen Y</a>

To understand the market influence of Gen Y, let’s begin with some simple math: 150+50=200. Put a dollar sign in front of the 200 and billion behind it and you have the total buying muscle that is Gen Y.

Gen Y spends nearly $150 billion out-of-pocket with nearly $50 billion in buying influence, tallying the buying power of teens and young professionals to $200 billion. These teens and young professionals (many not having left the nest) influence 81% of their families’ apparel purchases and 52% of their car choices, according to online marketing expert, Kelly Mooney.

Generation Y can be difficult to market to, because they are acutely aware of the fact that they are constantly bombarded with thousands of messages every day. Whether it is in print, on their phones, tv, web or outdoor, Gen Y has emerged as a generation that has learned to ignore.

And what are they buying? Think impact. Of teens 12-17, 91% are investing in products that invest in social causes and 89% would abandon brands for those creating positive social, economic and eco impact, according to Cone/Roper. Remember (RED)? (PRODUCT) Red was cause-related-marketing at its most shining, sparkling, computing, t-shirt wearing best. Apple Inc., American Express, Starbucks, Converse, Gap, Hallmark, Dell… and the company all star list goes on. Apply some of the basic trends of Gen Y to your medium and voilla you’ve gotten a glimpse of a possible future.

Impact is just one of the many strategies we’re going to discuss. When we consider the state of the media, we shouldn’t just jump on the bandwagon and say “told ya so” or “too bad so sad” to newspapers or tv. Despite conventional thought, every media has a future. Just as tv didn’t kill the radio star, or the Hulu squash prime time, there is a future for all media. Though it might be difficult to envision a tween picking up a newspaper, what if that newspaper were the Daily Kos? Think out-side-of-the-box. Don’t let innovation be trapped above the fold. Consider the future of media as Gen Y updating tradition.

So how can your organization capture the attention of GenY? How can you build a brand that will have Gen Y coming back for more?

To read more about marketing to Gen Y, visit Sparxoo.com.

Sparxoo is a business blog that inspires breakthrough by tomorrow’s leaders. We are a strategy consulting firm with a pulse on marketing, branding, and development. See our talented team of experts and our parent company dCap Advisors.

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