Understanding the New Generations

Catch the Wave!Central Texas

August 2010

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America is Growing

U.S. Population

1900

1950

2010

2050

76 million

151 million

310 million

420 million

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We are living longer

The year is . . .

– 1900

– 1950

– 2010

– 2050

Life expectancy

– 48 / 51 years

– 66 / 71 years

– 75 / 81 years

– 81 / 87 years

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America is aging rapidly

The year is...

– 1900

– 1950

– 2010

– 2050

Seniors 65+

– 4 percent

– 7 percent

– 13 percent

– 21 percent

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Youth represent a smaller proportion . . .

The year is...

– 1900– 1950– 1965– 2010– 2050

Children <20 yrs

– 44 percent– 34 percent– 39 percent– 27 percent– 26 percent

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America’s Generations

Awakening Generation 1701–1723

First Great Awakening 1727–1746

Liberty Generation Republican Generation Compromise Generation

1724–1741 1742–1766 1767–1791

Second Great Awakening 1790–1844

Transcendentalist Generation Transcendental Generation Abolitionist Generation Gilded Generation Progressive Generation

1789–1819 1792–1821 1819–1842 1822–1842 1843–1859

Third Great Awakening 1886–1908

Missionary Generation Lost Generation Interbellum Generation

1860–1882 1883–1900 1900–1910

G.I. Generation Greatest Generation Jazz Age

1900–1924 1911–1924 1929–1956

Silent Generation Baby Boomers Beat Generation Generation Jones

1925–1945 1946–1964 1948–1962 1954–1965

Consciousness Revolution 1964–1984

Baby Busters Generation X MTV Generation

1958–1968 1961–1981 1975–1985

Boomerang Generation Generation Y Internet Generation New Silent Generation

1981–1986 1977–2003 1986–1999 2001–

Wait for it…

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Perils of NOT Staying Current…

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Generation X

32-44 years, born 1965 thru 1977

$190B purchasing power, $1.2T incomeThink: focused on real issues, digital revolution, visual, skeptical, highly individual, insecure, pragmatic, highly-motivated, need fun, fast-evolving, forward-thinking, new music

46 million, 17% of America

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What’s with the name?

Generation X by Robert Capa

Billy Idol of Generation X (1976 – 1981)

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Gen-X: Traits

• Require real balance between work and life / family / personal time

• Deeply independent (save 16% of earnings)

• First “Information Age” generation

• Seek workplaces that feel like communities

• Well-adjusted, socially responsible

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• Computers aren’t technology• The Internet beats TV• Reality is no longer real• Doing trumps knowing• Learning is X-box, not logic• Multitasking is a way of life• Staying connected is essential• Zero tolerance for delays• Consumer and creator are

blurring

Attributes of an Information Age Mindset

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Gen-X: Values

• 89% believe in God; 70% attend church

• 90% say helping others > helping self

• Would pay family debts if won lottery

• 73% have volunteered (school, charities, church)

• Say America’s education system is nation’s top priority

• Will require two incomes and long hours to achieve dream of marriage, family, lifestyle

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Generational Work Priorities

Balance work/personal lifeTry new thingsSucceed at your jobGet more training / educFind work that pays betterEstablish career pathFind more work opportunityFind more fulfilling work

8887838075807366

7981754452283941

8985866666635858

8794798786938383

Source: Randstad North America

Gen Y Gen X Boom Matures

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Gen-X: Employer Strategies

• Common sense – what are their wants and needs?

• Empowerment –education, tools, authority

• Open-door policy –elevates team spirit

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Gen-X: Strategies

• Use humor, self-awareness, diversity in message• Easy-to-read, hi-impact messaging• Provide individualized attention• Clear, informative communications• Sophisticated ‘Net presence• Integrate communications across media

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Gen-X: Strategies

• It’s all about personal style: empower with “badge value” items…use subtlety

• Believability: hip brands can push envelope; staid brands cannot

• Avoid stereotyping – go for one-on-one relationships• Recognize differences across key subsets: gender,

race, education, income, geography

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Millennials

10-32 years, born 1978-2000

76 million, 26.5% of America

$200T spending power,$61/day burn rate

Think: highly individual, ethnic, diverse, mature, responsible, self-sufficient, gender equality, curious, pragmatic, communications junkies

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Millennials, aka…

• Echo Boomers• Generation Y• Net Generation / iGeneration• Wired Generation• Bling generation• e-Generation (stands for "electronic generation") • Trophy Generation (overprotective kids and parents)• Generation me• IM generation

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• PCs and Internet• Email• Bars• Bungee jumping• Cable TV• Fall of communism• Cynicism• Distrust authority• Julia Roberts• Tom Cruise• Gap• The Simpsons• Talk shows• Madonna

• Web-enabled cellphones• Text messaging• Raves• Skateboarding• TiVo• Rise of terrorism• Idealistic• Team players• Sarah Michelle Gellar• Ashton Kutcher• Abercrombie & Fitch• South Park• Reality TV• Avril Lavigne

Generation X The Millennials

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Core Values and Personality Traits

• Perpetually connected• Multi-taskers extraordinaire• Filter for immediacy and control• Told all their lives they are special• Confident, optimistic, sociable• Socially involved, sense of civic duty

– Will repair the civic decay, social detritus

– Stop degradation of environment• Self expressive & assimilative• Conventional/moral, like the silent

generation• Achievers, under pressure

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It’s all about the connectivity

• 85% have cell phones, 30 min mobile/day

• 67% text message • 6-10x/day• 35-40 txts by high schoolers daily

• Never known world without digital access 24/7

• 50% use SM sites, download music• Most spend 10-12 hrs/wk min

online• 29% have/44% read blogs• 69% (of students) have FB page• Online as connective social function

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Millennial Language Online

Term: Pasta Rocket

Definition: Italian sports car or motorcycle

Usage:“My new 999 is a sweet pasta rocket.”

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Millennials: Education

• Parental influence• Millies respect, highly regard parents• Control own lives with parental help• Irony: strive for independence even

as realizing dependence on them• Kids welcome parental ‘hovering’

• Expecting it all• High-dollar jobs, time for interests• Not used to being let down, hearing

‘no’• Education is path to dreams• Crave approval; avoid criticism

• Far from fickle• They convey excitement…or dismay• Demand accountability from schools

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Millennial Language Online

Term: Schnasty

Definition: When something is so nasty you don’t know how else to describe it.

Usage:“Oh, man. That garbage disposal smells schnasty.”

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Millennials: Employer Strategies

• Think creatively about reward strategies

• Consider global working opportunities

• Clear statement on corporate responsibility

• Use technology to engage – think avatars, mobile

• Keep it fresh…really fresh

• Oh, and 4% want to wear business clothing

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Millennials: Empowerment

• Rebels with boundaries• Respectful of authority• Extreme sports – master

(w/protection)• Making wise choices• Reasons for choices (TV dinners,

underage intimacy, urban tunes)• Female leadership

• Higher percentage of college students• Lead positive attitudes in learning

• The cool factor• Big success d/n rely on top dog appeal

(H Potter, Am Idol, boy bands, Britney)• “Want to be different, just like

everyone else”• Diversity is the new norm

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Millennial Language Online

Term: Phail

Definition: Internet speak to describe someone’s extraordinary lack of ability

Usage:“Did you hear about the guy who got demoted for looking at porn at work on more than 100,000 occasions? That’s pure phail, dude.”

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• Understand what is important to them

• Edgy, yet pragmatic advertising• Build brand loyalty via

emotional bond• Prove your honesty – be

believable• Seek shared core values• Blended marketing avenues let

them ‘discover’ - use 5 senses• Respect their choices,

empower (online & offline)

Millennials: Marketing Strategies

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Millennials: Marketing Strategies

• Capitalize on preference for group settings with individual performance opportunities

• Leverage the web and your marketing $ via viral campaigns• Think psychographic rather than demographic• Respond to cause consciousness, appeal to their green streak• Use street marketing and guerrilla tactics• Incorporate strong visual stimuli and interactive activities

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What do we know now?

• Personal empowerment• Align values• Create new spaces, new

paradigms• Authenticity over bs• Look to ALL media venues• Don’t tell me; show me…• Or, better, let me do it myself• The world never stops its

movement – will you?

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Wanna Keep Up?

• YouthNoise.com• TrendWatching.com• Buzzwhack.com• TrendCentral.com• eMarketer.com• DailyCandy.com• Springwise.com• Cool-reads.co.uk• Street Trends (from

Sputnik in NYC)

• Watch the movies• Restaurant menus• Concert gear/style• Detail, TeenPeople.com, US• Trendspotting • Coolhunting• Teach a high school course or

class• Google search terms for

millies, teens, youth

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Life Philosophy: Keep the Shiny Side Up!

Contact me at ssaurage@SaurageResearch.com or on Facebook or LinkedInRead my blog: www.RealitySpikes.com

http://twitter.com/RealitySpikes