Tuesday, January 27, 2009

My Generation = iGeneration

It’s odd to me that I can be classified into a group known as Generation Y. My parents are both Baby Boomers, a group I have grown up hearing all about—they’re a part of history. It’s just surreal to hear that I am also becoming part of history by being part of a generation that differs completely from any previous one.
The main difference in generations can be attributed to one thing: technology. My generation is obsessed with anything technology-related. Technology includes actual products, such as computers and cell phones. More importantly, technology includes the Internet, which allows me to stay connected to friends and family 24 hours a day, 7 days a week. That makes my lifestyle extremely different than people from other generations. I own an iPhone, meaning I can access my Gmail account, AIM, Facebook, text messages, and anything on the Internet at any time and anywhere, thanks to Apple and AT&T.
Even though all of the technological products and applications in the world are entertaining and enjoyable to “play” with, I think the introduction of technology to Generation Y has molded my peers and I into people very different from the past. Technology has led my generation to be more independent, individualistic, open-minded, and unpredictable, characteristics I feel I definitely exhibit. These are characteristics that marketers can focus on to push their products toward us, if they plan and time their marketing efforts correctly.
Companies are slowly beginning to realize this. Unfortunately for some, they may have not been prepared for the frenzy that goes along with catering to Generation Y. The “MySpace Generation” podcast discusses how Friendster was one of the first social networking websites to go live. Soon after, MySpace was introduced with its blogging abilities and profile customizations. Some of MySpace’s success can be attributed to the fact that Friendster was unable to keep up with the changing desires of my generation. Since then, MySpace has become the most popular social networking website in the world with over 40 million users. By listening to its users, the company has been able to adapt its services to fit the needs of Generation Y.
That being said, when it comes to my generation, I think marketers should follow us to where we spend most of our time: online. In that aspect, Friendster was headed in the right direction; however, any company that decides to launch its brand on the Internet must be able to follow through with its goal to satisfy consumers, which Friendster did not.
My favorite brands today are those that have some of the most solid websites that make product browsing and shopping online incredibly easy. These brands also advertise on Facebook or personally email me irresistible coupons. These marketing tactics are very different from the traditional TV ads that my parents grew up watching.
Marketing to Generation Y online doesn’t need to be done only through social networking sites or email. Viral marketing campaigns have also become quite popular because they create a buzz among Generation Y members. One example of a successful viral marketing campaign was the trailer for the horror movie Cloverfield on YouTube. The trailer was intriguing and left me wanting more. The “Generation Y” article discusses how members of my generation are likely to share their satisfaction of products by word of mouth, which is why I shared the movie trailer with my friends.
Marketers have a variety of ways that they can successfully reach my generation. However, they need to be careful not to take advantage of the fact that Generation Y is fueled by technology. The advent of technology has really catapulted my generation into an era of connectivity, especially in regard to how open we are with providing our personal information to millions of people online. Some observers may say we’ve become too open in that regard and that my generation is irresponsible for doing so. I completely disagree. I know we are taking risks by being so easily accessible; however, we are also very practical and realistic as a group. That means we know where and when to draw the line when it comes to interacting with people and companies. Similarly, marketers must be sure not to cross any lines either. Bombarding me with too many coupons could be detrimental to the relationship I have with your brand.
As I mentioned earlier, my generation is a lot more unpredictable and fickle than any previous generation. We know what we want, and if one company can’t give it to us, we will find another company that will. Obviously, marketers have their work cut out for them. One of the biggest challenges marketers will continue to face with my generation is the ability to adapt to our constantly changing desires when it comes to products.

Sunday, January 25, 2009

Welcome!

This blog is designed to share my insights on various marketing ideas. Please check back for updates and enjoy!