dave knox - ieg 2008 presentation on youth marketing

Download Dave Knox - IEG 2008 Presentation on Youth Marketing

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Presentation from Procter & Gamble Brand Manager Dave Knox (www.hardknoxlife.com) on how to win through Youth Marketing.

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  • Source - http://www.flickr.com/photos/tatianacardeal/36956189 / Youth is no longer a demographic its a mindset
  • A look at how youth are leading a rapid transformation of how consumers interact and engage with brands Dave Knox Brand Manager Procter & Gamble Youth is no longer a demographic its a mindset
  • Source (Quote) - http://brandnoise.typepad.com/brand_noise/2008/01/insight-found-i.html Source (Picture) - http://www.flickr.com/photos/localandbitter/1144303177/ Looking at Gen Y is not about demographics. Its about what this generation can tell you about the market as a whole and give you insight as to how the others will behave. Gen Y is only the tip of the spear. Brand Noise
  • GENERATION TRENDS Generation Trends
  • American Dream according to Teens Source (pic) - http://www.flickr.com/photos/lucidpieces/1407577862/ Source: 2007 Harris Poll, http://www.courier-journal.com/apps/pbcs.dll/article?AID=/20071102/FEATURES/711020314/1010/FEATURES
    • This is a generation of stress AND optimism:
    • Nearly half of Millenials say their stress level is very high or high. They feel the world is more complicated today.
    • However, they are optimistic for their future with 71 percent of youth believing they can personally achieve the American Dream
    • Half of American Youth define the American Dream as Simply being happy, no matter what I do.
    • This is a generation of Wannabe Entrepreneurs and 30 percent expect to own their own business one day.
    • Its a We-volution:
    • Youth are driving a shift from a me culture to a we culture where the opinions of the group drive consumer trends, preferences and behaviors.
    • Examples include Prosper.com in lending, Wikipedia & Yahoo Answers in knowledge and MyFootballClub in sports.
    • Our lives have become completely digital:
    • Youth name their computer as the #1 product they cannot live withoutahead of TV and cell phone.
    • People age 13-24 send over 50 text messages a week
    • This is a generation of multi-tasking, a generation of never missing a beat and always being connected with the world around them
    • Social consciousness is on the rise:
    • 69% of young people believe that corporations can make a bigger difference in the world than politicians can.
    • 53% of 14-34 year-old trendsetters bought a product that donated money to a cause.
  • MOTIVATING FACTORS Motivating Factors My Media Generation Source Yahoo Truly Madly Deeply Engaged Study
    • COMMUNITY
    • While todays youth want to stand out and express their individuality, they also strive to feel connected with each other (both locally and globally).
    • This community is created by shared experiences and constant communication (IM, texting, Facebook).
    • SELF-EXPRESSION
    • In the hands of Gen Y, brands get articulated in more ways than the brand itself could ever imagine. Gen Y doesnt wait for permission to morph a brand. They are constantly seeking ways to have their voices heard and put their stamp of self-expression on products.
    • Brands can become a badge for what they stand for.
    • PERSONALIZATION
    • Todays youth demand control. They are used to customizing and personalizing everything in their lives.
    • They demand products and services that suit their moods and want to live in an on-demand world that they can control.
    • Entertain them
    • Dont try to be something you are not
    • Put them in control
    • Re-calibrate your risk tolerance
    • Leverage the power of your network
    RULES OF YOUTH MARKETING
    • Entertain them:
    • One of the top traits that makes someone cool to youth is a sense of humor. Same thing applies to brands.
    • Dont take yourself or your brand too seriously.
    • You will be fighting for their attention in a world full of distractions. Make it worth their time.
  • Source (pic) - http://www.flickr.com/photos/lott/356097093/
    • Dont try to be something you are not:
    • Youth crave authenticityin fact, they demand it
    • Be a cultural anthropologist to learn their world.
    • With niche being the new mass, you have to invest time in their communities. You cannot just shove your way in line.
    • Remember, most of them think they can do better marketing than you anyways.
    • Put them in control:
    • Give them the tools to embrace your brand.
    • They are going to take your brand and shape in ways you never imagined. Let them!
    • Engage them. Enroll them. Befriend them.
    • Never make the mistake of forgetting them or talking down to them. Remember FedEx Furniture, iPods Dirty Secret, and the ComCast Sleeping Cableman.
  • Source (pic) - http://www.flickr.com/photos/8141591@N05/513073710/
    • Re-calibrate your risk tolerance:
    • Innovation requires placing bets. You need to start thinking like a Venture Capitalist when it comes to marketing. Realize that if you place 10 bets, maybe only two of them will be homeruns.
    • Getting in this mindset requires you to recognize that by the time you see a wave, it is probably already crashing. If you want to have any hope of catching the next wave, you either have to create it or see it early.
  • Source (pic) - http://www.flickr.com/photos/metatron1050/1400813198/sizes/o//
    • Leverage the power of your network:
    • Get out there and shake hands.
    • Never underestimate the power of someone saying You know, you should really meet
    • Pay it forward and help people out. You never know when that favor will be repaid.
    • The world is all about connections. Never forget it.
  • So which brands are doing youth marketing the right way? Source (pic) - http://www.flickr.com/photos/haani/2056702546/sizes/l/
    • P&G Beauty and Varsity Spirit:
    • Herbal Essences, Cover Girl and Secret formed a partnership with Varsity Spirit, the largest cheerleading organization in the country
    • The sponsorship has included a Beauty Lounge at competitions, sampling at summer camps and many other unique programs to connect with this audience.
    • Procter & Gamble FemCare & HERO:
    • Protecting You, Protecting Futures is a partnership with UNA-USA to help provide feminine protection and education to girls in Southern Africa.
    • The HERO Youth Ambassador Program sends 20 teenagers to Africa for the summer to help build schools.
    • Beinggirl.com:
    • P&G created a trusted destination for teen girls filled with great content, tools and partnerships.
    • Reaches over 2MM girls per month and girls spend 16 minutes a visit on the site, 3x longer than MTV.com.
    • The site is now in 27 countries worldwide.
    • STA Travel Widgets:
    • STA tapped into Self Expression allowing consumers to use custom widgets to share details about their next trip on their desktop, blog or Facebook page.
    • Mackenzie Blue and HarperCollins:
    • New tween property targeted at girls 8 12
    • Girl friendly and Mom approved
    • Created by Tina Wells, founder of Buzz Marketing Group
    • Nike Under the Radar Influencers:
    • Nike has recognized that niche has become the new mass as they reach youth through global influencers.
    • Nike CEO Mark Parker has tapped his global network of friends such as Mr. Carton and Os Gemeos to create under-the-radar campaigns.
    • Nike iD Studio:
    • Nike has leveraged the concepts of personalization and self-expression to take sneaker design to a whole new level with their Nike iD concept.
    • Nike iD enables consumers to design their own shoe online or visit a Nike iD Studio to work with a design consultant to make the perfect pair of shoes.
  • Any Questions? For a copy of this presentation, visit my blog at www.hardknoxlife.com or email me at [email_address] or [email_address]