GenYers won’t take bullshit. They search for products which satisfy their needs the best way possible, so being relevant is key. But being relevant goes beyond the product. It’s about the combination of product, company and experience creation.
This is the first step in our 5 step plan for marketers to improve your marketing to the demanding Gen Y customers (based on interviews with 21 global marketing executives, such as Converse, Heineken, Abercrombie & Fitch, BBC, Reckitt & Benckiser and many more).
If your product isn’t doing what it promises, you may as well close the books. Youngsters can find information anywhere and are asking feedback from peers all the time. It is all about price/quality: are you offering something valuable? Are you only selling products or facilitating and endorsing Gen Y’s life?
The first way to be cool and stay hot is to have a nice and differing product. These days you cannot build a brand just by marketing, you need a great product and adapt all the marketing to the core strengths of the product, not the other way around. Renzo Rosso, Founder Diesel
Being true to who you are is key. It’s about wearing the company value glasses in everything you do. Storytelling, authenticity and uniqueness add more than you would expect: they reflect Gen Y’s core values and sustain your corporate identity.
Corporate CSR became more important because Gen Y is also smarter and will spend and invest their money carefully, in a way that it actually reflects their value system and they will challenge companies to use their money in a conscious and social way. Hubert Grealish, Global Head of Marketing Communications Diageo
Stories stay stories, and the product should give your consumers what they’re expecting, nothing more and nothing less. Creating an actual experience around it, online and offline, is something intangible that elevates your product and brand experience.
We used to focus on creating the best product benefits. Today that’s not enough anymore, it’s all about creating the best product EXPERIENCE. But creating a relevant experience is always related to understanding the world of your consumers and trying to be as close to them as possible. Mariken Kimmels, Marketing Director Heinz Continental
To stay relevant for Millennials, marketers should endorse INCLUSIVE brands with EXCLUSIVE experiences and surprising products that are both worth sharing with friends.