Millennials Are Changing the Way We Market
In his post, The Most Important Thing in the World for Marketers to Understand, Jim explained that we’re handing off the torch of power from one massive generation (The Baby Boomers) to another (The Generation Known as Gen Y or Millennials). He wrote:
This isn’t merely numbers. It’s about what kind of assumptions and norms will dominate a culture. My point is simple: We are now already in a Gen Y world. Boomers still (for just a couple more years) outnumber the Gen Y, but morally and in terms of cultural strength, the battle’s over. The default position of our culture on any issue is the default position on that issue for Gen Y. Since the ’60s, it’s the been the Boomers in charge. …
Boomers shouldn’t feel bad about this. It’s how it’s supposed to be: sunrise, sunset. You had a good run and made a big (sometimes actually even positive) impact on the world.
But you’re not in charge anymore. Not really. Marketers, including live entertainment marketers, need to come to understand that.
ClickZ reporter Yuyu Chen reports on a recent survey that found 84 Percent of Millennials Don’t Trust Traditional Advertising. “Social media has changed the way brands engage with their consumers,” she writes, and “consumers today want a different relationship from what they are getting right now from many brands.” Read her full article to learn more about people-powered marketing and social influencers.