'Net Features : gen y

Millennials (Can Be) a Brand’s Best Friend

Linc Wonham — Tue, 02 Nov 2010 02:30:00 GMT

Generation Y, aka “Buy”, packs a powerful punch when it comes to a brand’s online reputation. The most prolific users of social media do not take that responsibility lightly, and will just as soon share a recommendation for a product they believe in as they will publicly lambast one they consider unworthy.

Such loyalty, as much to the process of sharing opinions about brands as to any particular brands, was the most profound takeaway from a recent study conducted by Edelman Worldwide. Entitled Millennials, Their Actions Surrounding Brands, and the Dynamics of Reverberation, the exhaustive study makes one thing abundantly clear about its focus group: brands matter.

Some of the more specific findings include the following:

•    More than 80 percent of Millennials regularly discuss brands online
•    70 percent will share a favorite brand with friends and family
•    70 percent will keep coming back to a brand they like
•    58 percent are willing to share personal information with a trusted brand in exchange for coupons, etc.
•    54 percent will warn friends and family about a brand they don’t trust
•    41 percent will boycott a brand if disappointed
•    32 percent will rant on a social network if disappointed by a brand
•    29 percent will join a community of others who dislike a brand

Participatory Marketing and Gen Y

Pete Prestipino — Tue, 02 Jun 2009 14:54:00 GMT

The Participatory Marketing Network (PMN) released results of a new study showing that only 22 percent of Generation Y consumers are using Twitter. When asked about social network usage, however, 99 percent of this same group reports having an active profile on at least one social networking site.

“Twitter dominates the news, but clearly we’re only touching the surface of its potential as a marketing vehicle,” said Michael Della Penna, co-founder and executive chairman “This is a classic ‘glass half full’ scenario for Twitter, because it’s clear that Gen Y has an appetite for social networking, but still hasn’t fully embraced micro-blogging. There is a tremendous opportunity now for marketers to develop strategies to get this important group active on Twitter too.”

Key findings from the study include:

- Twitter has yet to catch on with Gen Y (Only 22 percent of this group say they use Twitter - 85% follow friends, 54% follow celebrities, 29% follow family, 29% follow companies)
- Online social networks are hot for Gen Y (99% have a profile on a social networking site, 89% have downloaded an application to their profile page)
- Mobile social networking is heating up for Gen Y (38% have an iPhone or iPod Touch)

Gen Y Has Serious Buying Power

Mike Phillips — Fri, 06 Jun 2008 18:54:00 GMT

According to a recent Harris Poll, 13-21 year-olds spent more than $120 billion in 2007. This demographic falls into the Generation Y category, typically those born between 1979-1999. This generation clearly has buying power - and they're very comfortable spending online.

According to Nielsen Online, half of consumers under age 24 made an online purchase between April 2007 and February 2008. It's a diverse group too. The US Census Bureau claims that out of the 70 million individuals who fall in the Gen Y category, just 60% are white. Compare that with 72% of baby boomers.