Thoughts on a powerful market that’s coming of age.
Jason Ryan Dorsey knows a little bit about Generation ‘Y.’ He is one. And, he’s absolutely passionate about ways to market to them. Using a high-energy presentation, Jason outlined who Gen Y’ers are, and why they are that way.
According to Jason, there are 78.8 million people in the ‘Y’ generation in the U.S. (birth years 1977 through 1995). All think they are special and unique. They often feel entitled. They seek instant gratification and are outcome-oriented. And, although mostly thought of as tech-savvy, they are actually tech-dependent. In other words, they don’t know how it works; they just need technology and can use it.
Gen Y brings a different perspective to the market. According to Dorsey, “Overall, Gen Y is more educated than any previous generation, yet they have less work experience.” How they were parented played a large part. “Boomers tried to make it easier for their children, but in doing so, created a group of ‘Adult-olescents,’” says Jason. “Gen Y wants the freedom of an adult without the responsibility. To Gen Y, you’re an adult when you turn 30.”
Gen Y is also becoming a powerful market. By 2017, this generational group will outspend Boomers. In fact, they’ll have $214 Billion to spend.
How do you tap in to this market? According to Dorsey, use taglines like ‘As unique as you are.’ Visually connect with key life moments such as college graduation, getting married, having children, and taking on the family business. Don’t ask for referrals. Rather, see if you can be of help to their friends. And remember, birthdays – and birth weeks and birth months – are the most important times to remember.
Finally, communicating with Gen Y is simple: Text.
Our thanks to Sygenta for sponsoring this valuable look at Gen Y.