A favorite witticism holds that “age and treachery will always triumph over youth and ability.” It’s funny, but is it true?
Perhaps not, as history shows. Alexander the Great was tutored by the famed philosopher Aristotle, named king of Macedon at the age of 20, and conquered the known world by the age of 30.
Fast-forward to 2011 where there’s a whole new generation of young, social, plugged-in digital savants. And they’re wielding tremendous power in certain circles.
According to a recent study conducted by MTV and InSites Consulting, millennials (a.k.a Generation Y, the children of baby boomers) have a profound influence on their parents’ purchasing habits. And their reasons for brand preference are not always the same as those of their elders.
Gen-Y’ers most prefer brands that remain up-to-date while maintaining an authentic style. They want brands that are unique with a “clean reputation” and with whom they can identify.
To the generation now coming of age, it is these attributes that help a brand create and maintain a loyal fan base, not the brands perceived “coolness.” What millennials don’t care too much about is a brand’s glamorous image or its trendiness.
One in four of these young people say they influence what products and services their parents buy, while 33% say they affect where their parents shop.
At least half of those surveyed said they highly influence their parents’ choices in the technologies they adopt. That means they convince their parents to get smartphones or tablets, use mobile apps or start a Facebook profile.
Clearly it pays to appeal to these young influencers.
So, from a digital marketing standpoint, how do you make sure you’re hitting millenials’ hot buttons?
A great first step is to incorporate mobile in your marketing – either with mobile app development or by creating a mobile site. There’s hardly a Gen Y’er that isn’t tethered to a Smartphone or mobile notepad.
Use social media and a feedback mechanism in your mobile app or site to give customers a way to enter into conversation with you, and up your “authenticity” score in the process, as well as improve your reputation and the likelihood that your customers will identify with you.
Consider the unique qualities of your brand and find ways to magnify them in your mobile application. A liquor brand might use the shake function, for example, as a way to help users find the nearest bar that serves that brand. But that might not work as well – or feel authentic — for fine china.
Most importantly, note that one out of four Millennials say they deserve more attention from brands—not only because they spend money themselves but because they have a strong influence on their parents’ spending.
Oh, and add Mark Zuckerberg to the list of highly influential youth, along with Alexander the Great. Zuckerberg started Facebook from his Harvard dorm when he was 20, Facebook recently sparked a revolution in the Middle East.
The most important take-away from the study: ignore youth at your peril.
