Thursday, March 19, 2009

NO SOLICITORS.

Gen Y is coined as the hard-to-reach marketing group. In fact, marketers have even joined the name calling of Gen Y when they describe us as "the untouchables." It's true. We are harder to pin-point, but once you've got us - we're pretty loyal.

Millenials are considered the biggest group of spenders since the baby boomers. I've heard numbers of our spending habits thrown out anywhere from $150 billion to $200 billion in just a year! That's some serious cash flow. Which is why marketers are so interested in targeting us.

Instead of employing the usual techniques, companies are catching on to what gets us interested. They have started putting their messages in places where Gen Y is most likely to be. Of course the internet comes up, since Gen Y is always on their favorite social network or catching their friends latest video on YouTube. Marketers are also popping up at places like snowboard tournaments. According to a USA Today article Mountain Dew has figured out a way to reach Gen Y effectively. They call it the "Pavlovian connection". Mountain Dew hands out samples of the drink at these 'extreme' events. "There's a Pavlovian connection between the brand and the exhilarating experience," says Dave Burwick, a top executive at Pepsi.

They've got it! Gen Y wants an experience. We want to feel like we are getting more than just a drink. Recently I have seen Monster energy drinks out on the street being given away after concerts and at festivals. Gen Y LOVES this because it's free. If we like what we are tasting it's possible we will actually go buy the product next time we have to stay up until 3 am to write a blog post.

Other than giving us things for free, marketers have discovered that concentrating on smaller groups is working well. If you work to satisfy a group of teens, they are more likely to talk to their friends and rave about their experience with the product or company. Personally, I am a huge fan of personal referrals and generally tend to purchase things I know have worked for my friends.

Apple won Gen Y over when it created the 99 cent song. Instantaneously you could have the music you want without having to purchase an entire cd. I thought this was awesome, so I invested a little more money in Apple, buying an ipod. But that wasn't all. The computer I sit here typing on is, guess what - a Mac! I was so satisfied with my experience at Apple that I continued to buy their products. They drew me in with iTunes, but kept me. I am also a prime example of peer referrals. I recommend the products to anyone who asks.

Apple has it figured out, you draw them in with something they want and keep them with other great products and service. Many companies out there could learn a lesson from Apple. It doesn't matter how hard you try to reach us "untouchables," if you can't keep us your efforts are lost.

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