Generation YAYA: Millennials are changing marketing

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

The YAYA generation is those who are now 15–25 years old, those who were born in the 1980–1990s. A little more, and they will become a key consumer mass. Now is the time to study the peculiarities of their purchasing behavior in order to know how to sell their goods and services to millennials.

Marketers will confirm: if you want to sell something, study the target audience. It is necessary to investigate how members of a particular social group think, how they are guided in their actions, to study their purchasing behavior. These are just the first steps towards new opportunities for interaction. Generation YAYA (millennials, generation Y, igreki, echo boomers) is no exception.

For millennials, people aged 15-25, thousands of products and brands are created, because their purchasing power is increasing every day. They have a big impact on consumer demand. Therefore, in order to develop a strategy of interaction, you need to get to know the LNL better.

Every generation influences society. Human actions generate social, cultural and economic consequences that change the world around them, as well as previous and subsequent childbirth. In addition, the actions of representatives of a particular generation determine the perception of "good - bad". Therefore, businesses should try to figure out how to captivate millennials.

Basic statistics

To reach out to millennials and integrate a brand into their lives, you need to understand the basics. There are approximately 79 million gamers in the United States, or 25% of the population. These young people are 3 million more than baby boomers (their parents).

The baby boomer generation is a big force that has a significant impact on purchasing power, politics, the pension system. There are many "fathers", it is easy for them to influence society, to attract the attention of large corporations and small companies seeking to make money on quantity. But "children" (millennials) with their numbers do not lag behind, and sometimes have an even greater impact. Especially when you consider the specifics of their relationship to money, education, new ideas.

Generation Y has already experienced two economic crises: the first in the early 2000s, and the second in 2009, the so-called great recession, accompanied by a mortgage decline. Both of these events impacted the financial confidence of millennials and the safety of their jobs, which in turn influenced how they define individual success and spend money.

Ironically, despite these two crises and job cuts, the YAYA generation is richer than the baby boomers of the same age. Sometimes millennials live with other people (parents, romantic partners, or friends) in order to have a higher aggregate income. At the same time, the "igroki" are more educated than their predecessors. Among them, the highest percentage of university students / graduates in comparison with representatives of other generations.

This allows millennials to have higher incomes when they start working. From time to time they resemble generation GI (in America they say “the generation of the great depression”, and in our country - “the generation of winners; people born in 1900-1923), as they can be economical. Most millennials consider themselves prudent about their finances. They try to make informed purchases and avoid surplus.

Social behavior

As the 2009 crisis recedes, millennials will have more purchasing power (because of their education) and more influence (because of their numbers).

Financial decline has shaped the behavior of "gamers" in relation to spending money, but certain ideals have given rise to the socio-cultural events that took place during this period. Children of the 1980s and 1990s are aware of their impact on society. They are well informed about the state of the environment, tolerance and acceptance of others, and they are well aware that even one person can make a difference (one warrior in the field).

The YAYA Generation are people who know what recycling is and understand how sorting waste reduces waste. They are aware of the onset of global warming and the world's dependence on fossil fuels. No previous generation has been more conscientious about the process of consumption.

Millennials have seen the influence of women (including their mothers) on the structure of the workforce. The myth that a woman is limited to choosing between a career and a family has dissipated. They can be good wives and mothers and still go up the career ladder. Generation Y saw women gain weight in society. This happened due to the idea of universal equality, regardless of gender and age.

The Gamers have learned the lessons of the past about discrimination and have become inclined towards greater racial integration in everyday life. For previous generations, this was new, they only learned to accept people with a different skin color or eye shape. For millennials, this is the norm on which cohabitation laws are based. The consequences of these beliefs are the acceptance of gay rights, the spread of interracial dating and marriage.

Generation YAYA and technology

More than any generation, millennials rely on each other to make their decisions. They have “technology at their fingertips” (smartphones, tablets, etc.), as well as a number of communication platforms (Facebook, Instagram, Twitter, and so on).

Social media allows gamers to share and influence their thoughts with a wide range of people. Likes, reposts and comments are their tools of power. With these tools, they express their views and judge certain things.

Whether it's an opinion about a product, an event, or an assessment of a political figure, millennials know that their voice has power. These are their weapons.

To say that electronics is an important factor in the communication of representatives of the YLA is to say nothing. If we summarize the numerous articles on the use of various gadgets by millennials, we can conclude: they consider technology not just as devices and programs for communication, for them it is a way to improve their lives, something that helps them make the right choice, as well as contribute to the development of society. …

Don't be surprised at the level of social media and gadgets used by millennials. It is higher than that of all previous generations. Simply because in the age of "gamers" there are many times more devices and platforms for communication themselves.

Tablets, smartphones and laptops give them freedom: they can connect to the network whenever they want. At the same time, millennials are extremely multitasking in their use of communications. Echo Boomers can watch the series, while chatting with friends and buying things that they saw on their favorite hero. It is valuable for them to enjoy something alone, but at the same time be able to share the experience with friends.

Immediate pleasures are another big topic for millennials. The world has become more accessible, so the YAYA generation wants to have, if not everything at once, then at least everything that it wants, and when it wants. This philosophy is not limited to the digital world.

They still buy in brick-and-mortar stores, but online shopping is gaining in importance. At the same time, the line between online and offline shopping is blurring. Speed is key. Generation YAYA strives to find the right product quickly and buy it easily, in two clicks. Because of this, brands with user-friendly websites and engaging customers with relevant content are more likely to influence Gen Y purchasing decisions.

By creating forums for communication where millennials have the opportunity to exchange opinions with each other, you can generate interest and increase sales. However, if the brand's proposal does not meet their needs, they will pass by without stopping and giving no chance of success.

Keeping Millennials Interesting

Continuous contact is essential to retain the attention of millennials and to create the sense that the brand is making their life better and has value to it. If we draw a parallel with the high level of education of the YLA generation, we can assume that the thirst for knowledge determines the choice of a particular product. Research shows that millennials don't like overly intrusive brands that try to sell them something. At the same time, companies that sell their products through the provision of new truthful information will have greater success and a higher chance of re-purchase.

When a firm offers content that enhances a product or service and resonates with other millennial interests, its brand credibility is greatly enhanced in the eyes of a Gen Y shopper. For example, this happens when the company raises issues that matter to an audience or suggests a way to use its product. giving the buyer an additional experience. For example, some food brands offer content that allows millennials to cook the perfect restaurant-like meal from their wares.

Brands that adopt this strategy position themselves as something valuable in terms of the desires of the gamers. This allows these companies to be more than just suppliers of products and services in the eyes of buyers, they are becoming the transmitters of the experience that millennials need.

Companies that provide depth and emotional engagement to their customers and explain why they, rather than competitors, are more relevant to Gen Y are more likely to be a part of their lives. This encourages millennials to share certain products with friends, thereby helping to promote them. Open, continuous and relevant communication is the key to marketing success with the YAYA generation.

Basic idea

The challenge for any company is to understand what is relevant for the YYYA generation, which absorbs us with its ideas and social dynamics. A Facebook page, Twitter page, and quality website content are critical. But there are some companies that don't get the success they deserve.

There are 79 million gamers in the United States. Each of them has their own tastes, desires and goals. Some believe that by buying only organic products, they will be closer to the standard of "healthy lifestyle". Others are looking for affordable solutions to help free up extra time during the day. Still others value both. Millennial parents are constantly looking for ways to improve and simplify their lives. This determines their parenting style.

Of course, all "games" are different, it is rather difficult to find common features, but there are some qualities of goods that are important for all representatives of the YAYA generation.

1. Value

Millennials value quality. But the price must be fair. The trick is to put the word "honest" into it. What is dear to one may be cheap to another. It all depends on the level of income and how important this or that thing is in a person's life.

Quite frankly, this is the opinion of most consumers, hence the concept of "affordable luxury". A pair of shoes may be too expensive for one person, but for another, its cost will be justified, since he values the quality of the boots. Conversely, people who do not see value in a pair of shoes may pay the same money for some fashionable gadget because it is more focused on their needs.

The idea is not new, but with regard to the YAYA generation, which is very scrupulous about spending money, you need to clearly understand that the products must be: a) high-quality, b) meet the needs of the consumer.

2. Relevance

“This is mine” is another feature of the “game”'s thinking. The flow of information is huge, and Millennials are constantly under pressure.

The global interaction created by the Internet creates a huge field of choice. New products and services are being invented so quickly that it's a lot of fun for millennials to search and find them. As soon as the "igrek" sees something new, he immediately shares his recommendations with friends and like-minded people.

An example is the parenting behavior of millennials. Previous generations have relied on the opinion of their fathers and mothers in raising and caring for children. Of course, they could talk to their comrades to get new ideas, but even so, the source of information was limited to the circle of acquaintances.

Millennials still consult with parents and friends, but the global influence of people from all over the world is growing. Access to global knowledge and personal experience helps them to have different points of view. They choose from the information they have to create their own parenting style that meets their needs and values.

Generation YAYA knows: they have a wide choice, and they ask the opinion of others in order to make it right. Brands don't need to be progressive or retrograde, they just need to show their relevance, to prove that they too can be effective in solving the problems of millennials.

3. Authenticity

Finally, the last thing that matters for marketing is the fact that the YAYA generation has far more choices than other generations. The number of media outlets on the market today is creating a tremendous digital noise. It is getting harder and harder to fight him.

In a world of information overload, numb citizens no longer read or think, they look and feel.

William Irwin Thompson social philosopher, cultural critic

Millennials do look and feel, but they still read and think. The combination of this allows them to make rational decisions. They always expect more and always compare what is offered to them.

To break through the digital noise and win the respect of millennials, marketing (the products and services it promotes) must have content and be authentic. If the product is insufficiently substantiated or too intrusive, chances are that the gamers will not accept it. It is necessary to understand their soul, respect their intellect and give them something from which they can draw inspiration. Only then will the brand have a chance of success.

Summary

The YAYA generation, like others, is influenced by the culture of the surrounding world. Yet technology and changing social dynamics have a huge impact on his beliefs and actions.

Narcissism, laziness and self-confidence are the features that distinguish the "gamers" from representatives of other generations. Millennials are willing to argue, they always expect more and crave better ideas for life. Ignoring the YAYA generation can lead to the collapse of your brand, because they are only aware of their purchasing power. Another decade will pass and millennials will be loyal to the brands they have built relationships with today.

In addition, studying the self will prepare you to work with those who will replace them. The new generation grows on iPads at breakneck speeds, outstripping all their ancestors in development. It is difficult even to imagine what values they will have.