Markets and DisruptionThe Millennials and What Makes Them Different

CII Brand Summit, 2010Bangalore

Dave Evans, Consulting Director, 2020Social

T itt @ dTwitter: @evansdaveGoogle: “dave evans social media”

Who are the Millennials?Born 1982 – 1994, +/- 6

(For Marketers, 15 – 34 years of age)

India has Millennials, aka ‘Gen Y’

Source: http://www.un.org/esa/socdev/unyin/documents/ydiSergueyIvanov_Demographicindicators.pdf

0:28

What makes them different?(Aside from being young…)

Driven by Values

“Millennials can be defined both by their strongly held values and their strong intention to live by them. Generation Y is passionate about making a difference in the world. This is a common thread through

dozens of values studies conducted globally.”

Source: MillennialMarketing.com

Social Web Val es ConnectionSocial Web = Values Connection

Less of a Television Channel Bringing Friends and

A Sea of Shared KnowledgeColleagues Closer A Sea of Shared KnowledgeMisunderstandings Cause Many of the World's Woes Coming to Better Understandings We Leave for Those Who

Follow A Friendly Environment For Them to Adopt or CorrectWorking on Knowledge Together Our Reasoning and Assumptions

Made of Things We Have Seen or Figured Out Having Worked Them Out We Can Work Them Out in Cyberspace

Excerpted, Tim Berners-Lee, 1995 MIT Vannevar Bush Symposium

Shared Values power Communities

Online Communities– Passion– Cause– LifestyleLifestyle

Source: http://gauravonomics.com/

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Shared values connect PEOPLEOnline conversations around breast cancer

l t awareness relate on a personal level with this author, whose grandmother is a grandmother is a survivor

Source: http://perniciously.blogspot.com/2010/01/black-almost-always.html

Influenced by PeersInfluenced by Peers

Bringing Friends and Colleagues Closer A Sea of Shared Knowledge Less of a Television Channel Misunderstandings Cause Many of the World's

Woes Coming to Better Understandings We Leave for Those Who Follow A Friendly Environment For Them to Adopt or Correct

Working on Knowledge Together M d f ThiWorking on Knowledge Together Made of Things We Have Seen or Figured Out Our Reasoning and Assumptions Having Worked Them

Out

We Can Work Them Out in Cyberspace y p

0:35

Millennials are Peer Driven

Early Youth Middle Youth Late Youth

Millennial Gen X

y(13-21) (22-28) (29+)

Focus on Education and Career

Focus on Career and Relationships

Focus on Family and Career

Advancement

Influenced by Parents & Peer

Influenced by Peer Group and

Workmates,

Influenced by Spouse, Children, W k t P Parents & Peer

GroupWorkmates, somewhat by

Parents

Workmates, Peer Groups, SELF

Peer Influence Self, FamilySource: http://www.businessworld.in/index.php/Aliens.html

Peer Influence Self, Family

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With a Disproportionate Impact

Consumption and participation are indicators of the clear trend.

The Collective Intelligence…

…leads to Collaborative Design

http://www.20adoptioncouncil.com/http://www.socialmedia.org/

Out to Make a DifferenceOut to Make a Difference

Less of a Television Channel Bringing Friends and Colleagues Closer

Misunderstandings Cause Many of the World's WoesComing to Better Understandings A Sea of Shared Knowledge

We Leave for Those Who Follow A Friendly Environment For Them to Adopt or CorrectWorking on Knowledge Together Our Reasoning and Assumptions

Made of Things We Have Seen or Figured Out Having Worked Them Out

We Can Work Them Out in Cyberspace y p

Discontent with Status QuoThe author is unhappy about the

th l apathy people have towards the sacrifice made by Indian soldiersIndian soldiers

Source: http://indyeahforever.wordpress.com/2009/07/26/a-nation-forgets/

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Still Seeking SecurityHUL and P&G are considered “dream

i ” b companies” by +60% of graduating students due to the security of the the security of the FMCG sector.

Source: http://lt.nielsen.com/main/news/global_news_releases/fmcg_the_most_preferred

A Love Affair with Social MediaIt’s no longer just a CRUSH. Youth LOVE i LOVE using new media channels.

Source: http://candidreflection.blogspot.com/2009/07/well-i-am-clearly-wasting-my-time.html

…and Cricket.Consumer created opinion on the

f f th performance of the national cricket team and the game in generalin general

Source: http://cricketvillage.blogspot.com/Source: http://obnoxiousmind.blogspot.com/2009/12/some-cricketing-thoughts.htmlSource: http://cricket24x7.blogspot.com/

Why Does This Matter?(Think “disruption”)

We Grew up with Sarnoff’s Law

Broadcast: One-to-Many.Value related directly to subscriber base.

Facilitates interruptions.

0:15

Millennials Grow Up with Reed’s Law

Credit: Darren Barefoot, Robert Scoble

A place to meet, connect, collaborate, and solve problems. Interruptions are significantly harder.

“If you couldn’t interrupt me, how would you reach me?”

Hooked to the ‘Net

Age 15-24 are the heaviest Internet users among all age segments.

Source: http://globalcc.wordpress.com/2009/07/05/indian-youth-the-future-of-the-internet/

‘Net Usage is currently Skewed

Rural Indians

Urban Indians

Global IndiansIndians

67% of Youth P l ti

Indians

31.5% of Youth P l ti

Indians

1.5% of Youth P l tiPopulation

Least influenced

Population

Moderately i fl d b

Population

Highly influencedLeast influenced by global trends

Hi h T diti l

influenced by global trends

Deeply rooted in

Highly influenced by global trends

Affluent and High Traditional Values

eeply rooted infamily values,

customs and ethos

Affluent andambitious but Indian at heart

Source: http://www.slideshare.net/kaustavsengupta/insightyoung0910-indian-youth-trend-report

Phones are ubiquitousAlmost 80% of youth in India have th i M bil their own Mobile phones. This approaches 90% in the metrosthe metros.Home PC. iPod/Digital Music Player and Digital Player and Digital Cameras are other popular gadgets among Millennials.among Millennials.

Source: http://www.tcs.com/SiteCollectionDocuments/TCS_News/TCS_PR_Generation_Web2.0_Survey_07_09.pdf

India is months away from its first 3G auctions.Data services are set to explode.

Th f th I t t i h dThe power of the Internet, in your hand.

The Indian Audience Post 3GSocial Networking Services drive mobile web usage worldwide

Mobile will be part of the platform for the Social Web, moving social media “beyond English and the young/tech-savvy.”

Proud to be TechnophilesIndian Millennials are increasingly

i th i h using their phones to get online and participate on social platforms: social platforms: Twitter, Orkut, Facebook, Flickr…

Source: http://pinkandpop.blogspot.com/2009/10/materialistic-lil-me.htmlSource: http://pinkandpop.blogspot.com/2010/02/testing.html

What does this mean for my business?

Interesting. Now how do put this into practice?

1:150:10

The Purchase Funnel

Awareness Consideration Purchase

SSocial Media

The Operations Connection

Operations Marketing

The challenges that CMOs are tasked with are often more operational than “marketing ”often more operational than marketing.

“Take the reins of the brand experience and ensure that all of the touch points in the company -- operations, retail, sales teams, the call center -- adhere to and promote the brand experience consistently.”

--Mary Beth Kemp, Forrester Research

Why?yBecause Millennials will talk about it.

Interesting. Now how do put this into practice?

1:150:06

They have High ExpectationsWith high aspirations come h i ht d heightened expectations of products and services with a well services with a well known Western benchmark already set in their minds.set in their minds.

Source: http://dragonswerehere.blogspot.com/2009/04/end-of-days.html

Sharing moments of triumph…Announcing one’s first taste of

i success in career –no matter how small it may seem

Source: http://mypurpleprose.blogspot.com/2010/01/day-i-never-want-to-forget.html

…and personal accomplishmentTelling the story of the first time she t k t took a car out on her own

Source: http://utopia18883.blogspot.com/2010/01/im-alive.html

Your Brand Is Part Of It

MillennialsMillennialsTransparencyp y

RelevanceBrevity (140 characters)Brevity (140 characters)

Participate (before the sale)--Peter Shankman@skydiver

DhanyawadThe Millennials and What Makes Them Different

CII Brand Summit, 2010Bangalore

Dave Evans, Consulting Director, 2020Social

T itt @ dTwitter: @evansdaveGoogle: “dave evans social media”