Reaching Generation Y: A Challenge for Marketers

09/08/2008

Reaching generation Y presents a challenge for marketers. This group is peripherally defined as those born between 1980 and 1984, which would make them today’s tweens, teens and early 20-somethings.

The reasons marketers want so desperately to reach this group is threefold:

Buying Power: The buying power of this group is estimated to be some $170 million annually.

Influencers: This group is influential in that they have a direct impact on how their friends, family and acquaintances shop.

Brand Loyalists: The final reason marketers want to reach this group is that they are at the perfect age to become brand loyalists. Once they become your customer, they are likely to be for years to come – even influencing their children.

One of the frustrating reasons it’s so hard to reach Generation Y is because they are accustomed to be marketed to. And, with the advent of so much more media than previous generations, they have become experts at filtering out what they don’t want to be bothered with.

Couple this with the fact that – due to the age range -- they are not a monolithic group, and what you have is a marketing nightmare. But, all is not lost. Marketers can reach Generation Y. Following are a few tips to keep in mind to do so.

Support Their Causes: Generation Y’ers are known to throw their support behind a cause that they feel strongly about. Marketers can reach them by throwing their weight behind the cause too. But, the support must be genuine. It can’t be done in a way that is seen as trying to capitalize on their passion.

Niche It: As previously mentioned, Generation Y’ers are not a monolithic group. They may be in the same age group, but their hopes, dreams and aspirations differ. Hence, they must be compartmentalized and marketed to differently.

The Greater Good: Focusing on the greater good is important to this group. They like to feel as if they’re part of a larger whole. So, fostering a sense of community goes a long way with them.

The bottom line in marketing to Generation Y is to remember that although they do like to feel as if they are a part of something bigger, they are extremely individualistic. Hence, they must be marketed to as such.

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