Gen Y Marketing is Not Just the Future
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Gen Y, Millennials or even Gen C (connected) are the same group called by different names.
They were born in the 1980s and ’90s—roughly those now between the ages of 18 and 34 (though experts disagree on the precise time frame). I was born in 1980 so depending on the exact dates I am the very oldest of this younger generation.
WHY US – WE ARE YOUR FUTURE
We are everyone’s future but we aren’t just the future. We are also the present. By next year (2014), millennials will account for 36% of the U.S. workforce and by 2025, they will account for 75% of the global workplace. [U.S. Bureau of Labor Statistics / The Business and Professional Women’s Foundation]. If you don’t know much about them you are missing out and will eventually be left behind. There are some staggering statistics about this generation.
MISUNDERSTOOD – This generation is very misunderstood. What comes off as aspirational and just plain narcissistic is really just a reflection of millennials’ desire to make a big impact on and improve the world. I am not denying my generation being narcissistic. I am only saying that it is misunderstood. Yes there are millions of selfie pic’s on social media. Yes we are a vain generation. Many times with those type of attributes we are considered selfish but we also have huge hearts and are very misunderstood. Many times because we are narcissistic we are thought of as the generation who only cares about ourselves. That is far from the truth. 84% of this generation says that helping to make a positive difference in the world is more important than professional recognition. [Bentley University’s Center For Women And Business]. It isn’t just about the money we want a cause. 81% of us have donated money, goods or services. [Walden University and Harris Interactive]. Look at the famous shoe brand called Toms. Buy a pair and one pair is donated to those in need. That very concept is what my generation is about.
ASPIRATIONAL – Last year, a record 81% of college freshmen said that being wealthy was very important to them—double the amount of students who said so in 1966, according to an annual nationwide survey by UCLA’s Higher Education Research Institute. A recent survey of millennials using freelance job board Odesk found that 62% planned to quit their regular job within two years. That’s not surprising considering that overall, millennials stay with a company only two years on average, compared with five years for Gen X and seven years for baby boomers, according to Millennial Branding. Jobs aren’t satisfying to my generation like they were to previous generations. We want the possibility of greatness. We are ok making less if we have the opportunity to potentially make more. We want to see what we are capable of and we don’t settle.
We Need The Direct Sales Industry
Just 6 in 10 Millennials have jobs, half are part-time [Harvard University]. Median net worth fell 37% between 2005 and 2010. [U.S. Census]. Average student carries $12,700 in credit-card and other kinds of debt. [The Daily Beast]. In the Direct Sales industry generally there is no discrimination to age, race or gender. Everything is based on performance giving us an opportunity to make what we feel we are worth. 48% of Millennials who say word-of-mouth influences their product purchases more than TV ads. Only 17% said a TV ad prompted them to buy. [Intrepid] We are the connected generation.
WHY DIRECT SALES IS A FIT FOR US The Younger Generation – 69% believe office attendance is unnecessary on a regular basis [Cisco]. Ummm perfect because direct sales typically gives you that flexibility. 35% of employed Millennials have started their own business on the side to supplement their income . [Iconoculture]. Isn’t direct sales a great way to leverage starting your own business? You are much more likely to be successful in direct sales than starting your own business. 90% say being an entrepreneur is a mindset instead of the role of a business owner [Millennial Branding / oDesk]. 46% of Gen Y wants to start a business in the next 5 years. [Employers Insurance]. 54% either want to start a business or already have started one. [Kauffman Foundation]. What does all this mean? We are entrepreneurial. We think big and VALUE TIME. In other words Direct Sales is more than appealing. Direct sales is a fit for us from an entrepreneurial, lifestyle and potential income standpoint. It also is the present and future for who to market to from a consumer standpoint. By 2015, their annual spending is expected to be $2.45 trillion and by 2018, they will eclipse boomers in spending power at $3.39 trillion. [Oracle]. Now is the time to shift your strategy and start to think about the younger generation.
In conclusion companies need to stop making a SMALL part of their company focus on us. They need to start investing in us because we are quickly taking over the workplace! We are the present and the future.