Why You Should Know About the Buying Traits of Generation Y

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Just got done reading a cool article in Success magazine about Generation Y Characteristics that I thought you should know about in regards to structuring your marketing.

Generation Y Definition

Generation Y, also known as the millennial generation, is defined as people born in the late 70’s to early 80’s and 90’s. They are classified as being savvy in technology and there are some very surprising other facts about generation Y that you should know.

Generation Y Characteristics

This is from an article by Jason Dorsey in Success magazine. I encourage you to prepare your mind for your marketing to generation Y based on these Generation Y Characteristics.

– Generation Y annual spending now exceeds $200 billion

– By 2017, buying traits of generation Y will exceed the baby boomers

– Gen Y DOES have the highest unemployment since World War 2 but more have college degrees than past generations and are expected to earn more over their lifetime (a catch with this might be inflation, what good is it to make more if inflation has gas at $20 a gallon…food for thought)

THE Most Impacting Traits of Generation Y

There are two very important traits of Generation Y you should grasp right now.

1. They have the least brand loyalty of any generation ever. What does this mean? It means that it evens the playing field. Big advertising budgets won’t matter if you don’t provide value to them, so, in a nutshell, get to solving their problems and providing them with value and YOU can capitalize regardless of your branding budget.

2. They are more connected globally than any other generation, ever. This means when you follow the advice of number one, more people will find out about you than in previous generations. And, of course, vice versa, if you only put crap in the marketplace, people will find out sooner than in the past.

This is good news. YOU can beat those past unbeatable companies when it comes to customer acquisition by providing value, having blockbuster products and kicking ass in the customer service realm.

Help with Marketing to Generation Y

1. Define the exact person (yes, on an individual basis) of who you want as a perfect customer and then define what they read, like, watch, hang out. You can learn more on this by reading my post on Target Marketing.

2. Create content (products, articles, videos, audios, etc) that solve problems or answer questions that generation Y has.

3. Be aware of your presence on social media and continue to build interaction amongst the different platforms. You won’t see an immediate return on your investment but this is already playing an important role in all online sales as well as search engine results.

Hope this article helps you in your marketing and thanks to Jason Dorsey for writing an awesome article!

To Your Abundance!

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