Engaging with the “natives”
The last time marketers focused so obsessively on a particular generation was when the Baby Boomers became consumers.
It’s not that they were particularly unusual in their characteristics, but rather because there were a lot of them and this made them hugely valuable.
On the other hand, Millennials, or Generation Y, are very different. There are also a lot of them, particularly in developing economies where they often represent a population bulge, but it’s their personality attributes that fundamentally sets them apart from the generations who have come before them.
Because of digital. Born somewhere between the early ’80s and 2000, this generation has digital as their first language. They don’t know a world without it and their personalities echo this digital immersion.
They are impatient, but also optimistic. They are likely arrogant, but they are also incredibly values driven. They like cool stuff, but they don’t need to own the stuff and ultimately they are very jaded, even distrustful.
They tend to have a good moral compass.
This means marketing to them is hard, but incredibly worthwhile if you crack it. If you win their trust, you win their loyalty and the have the purchasing power to back it up.