it's Josip not joseph

Tag Archive: consumer

Introducing: User Marketing

Written on November 8, 2010 by Josip Petrusa

There’s no denying we’re in a time of great disruption. Our ways of life are changing. Newfound trends are emerging. All while many of us are trying to grasp what’s happening. And it’s something of which in large part is directly the effect of advanced technologies.

What’s great about this is that there is significant room for innovation. Everything we’ve ever known as traditional is becoming adapted, transformed and somehow altered to suit the times. Equally, new and non-traditional mediums are materializing at unprecedented rates. Amidst the real world we’ve always known, and the online world we’ve created over the last two decades, comes the rapidly growing and expanding social and mobile worlds.

From my own personal perspective, classifying things as such supplements the argument. To me, everything is in essence part of one real world. The perceived distinctions and differences will all undoubtedly become a part of real life as time wears on. Rather than simply being factors of the internet, Facebook, BlackBerry’s and the such.

The truly fascinating aspect here is the elements being forged as a result of our growing interconnectivity. Social media and mobile technology are amongst the greatest catalysts towards innovation that we’ve ever seen. However, disappointingly, there is an extreme hesitation to what could be possible and adopted.

I understand that the dynamics of business would like to have greater value returned than that exerted. The beloved ROI. So, yes, social media and mobile technology are difficult to measure on a return-on-investment basis. But in that same breathe, many are pursuing social media and mobile marketing methodologies. It’s at this point when I can’t help but wonder what is possible and what hasn’t been done or tried compared to what we all observe.

In any case, we are beginning to see and we will increasingly see the raise of something new, exciting and impacting. Enter, User Marketing. This is my take on innovation.

In an environment where the interaction and relationship between the people, the consumer, the individual has never been closer to the brand, the product and the company than ever before, the User will become the proponent to your either marketing scheme.

Not to be mistaken for a user of the product itself, User Marketing will come to represent the very users of social media and mobile technology. And I’m not referring to paid tweeters, bloggers, influencers and anything of that nature. Rather, and most importantly, the premise behind User Marketing will in fact be the average consumer, the individual, the everyday user of social media and mobile technology will be the main ingredients within this mix.

Groupon’s threshold couponing, location based service’s like shopkick and foursquare and Facebook strategies that entice “likes” in return for an offer are all examples of the path we are taking to User Marketing. But, what I’m waiting for and wanting to see is something beyond that.

The reality is that we still spend excessive amounts of time shopping at in-store retail locations. The reality is also the fact that in-store retail has yet too be optimized for the User, as shopkick and foursquare themselves are still taking on a company-centric approached as opposed to an user-centric one.

Not only are the proponents behind User Marketing user-centric, it’s really all about the user. It’s not about spending time within a location, or checking into that location, or having you do some kind of loyalty variation. It’s about the user receiving immediate and tangible offers. And in-return for receiving that offer, the User must be willing to spread the word to other users, by venture of using social and mobile means.

With all that being said, there are three underlying dynamics to User Marketing. It involves the socialization and technological expansion of the in-store retail space, the message element and the user element.

In-store socialization and technological expansion: The in-store retail space is a socially and technologically untouched area, in relative terms. Not only is there plenty of room for growth in this segment, it seems to be an inevitable occurrence. Live social capabilities that both allow you to update and watch updates is an avenue more than worth exploring. It’s all about the dialogue amongst the consumers. Along with this, there is a series of other social and technological possibilities that could be put into play.
The message element: With the unprecedented growth of smart phones and tablets, communication has become an increasingly imperative and diverse tool for everyone. As a result of these transpirings, we all have the capability to reach an growing audience of colleagues, friends, family and anyone else. User Marketing will dictate that communication channels will be measured differently. The offer value for a text or BBM message will be weighed differently compared to a tweet or a Facebook share tagged to the brand. Not to mention the many variations that exist within this.
The user element: Unfortunately, as users we all don’t carry the same network. But like anything else, size does not equate to value. User Marketing is not looking for the significant influencers to sell for them. Rather, it looks for the average consumer to connect with their average network. There are more than a few variables to these equations however they will not discriminate in a manner where users are out of reach for the offer. The idea here is to provide a tangible offering that is valued accordingly for everybody.

What’s great here is that User Marketing adds greater value to many elements that already exist with in the in-store retail space. What’s also great is that the current in-store retail space doesn’t represent the times. Not only would User Marketing change the way you market and advertise for better business, it’s absolutely a fantastic proposition for all the shoppers out there. Who wouldn’t like a pair of shoes for half price just because they sent a tweet or text. How about some dollars off some cool gadgets for a Facebook update. With prices hardly coming down, hard times remaining, social media expanding and mobile technology increasing, User Marketing could be that great innovation in these growing disruptive times.

(Photo credit)

Embrace the Gen-Y Stereotypes

Written on October 8, 2010 by Josip Petrusa

3 Comments

We’ve all heard the Gen-Y stereotypes. The typical argument suggests that many of these characteristics are negatively impacting these young individuals. And everywhere you turn, everyone seems to be yelling from the roof-tops that we’re too connected, too privileged, too entitled, we share too much, we’re too technologically savvy, we’re too young for anything.

Youthfulness often does imply ambition, optimism and a know-it-all attitude. However, with Gen-Y, like everything else, we’ve taken it to another level. As a result, we’re too impatient, we do too much multi-tasking, we’re too youthful and we’re told we’ll fail with these mindsets. And this sentiment is becoming widely common amongst the media and even professionals.

What I find truly fascinating here is that we are roaring-forward regardless of the situations we face. I think it’s safe to say most of us were promised the world as we were growing up. And even in these troublesome times we’re still looking to fulfill those promises. But then the arguments of being naivety come into play. The popular agenda seems to be a put-down agenda.

But I can’t help but wonder the absolutely positive and powerful elements these stereotypes carry with them. It’s not often that stereotypes actually have a significant plus-side to them. Rather than shy-away from these supposed weaknesses, embrace Gen-Y for who they are. Embrace the stereotypes for the strengths and opportunities they present.

So with out further hesitation, here are the characteristics you should be embracing.

Connecting: The emergence of social media, social networking and the advances in mobile technologies has made the world a seemingly smaller place. Not only have these elements become common place to Gen-Y, they’re imperative to our daily routine.

There has never been a time in history where this much individual-to-individual communication has taken place. That means if you’re not talking to us, we most likely won’t know you’re there. That also means we are very focused on our conversations. We get answers and responses quickly. We influence and are influenced faster than ever. 15% of 12-17 year olds and 18% of 18-24 year olds send over 6000 text messages a month. So are you a part of that relationship? Are you in their conversation?

Sharing: For anyone that has been truly paying attention to the sharing habits of Gen-Y you would have realized by now that it’s about being “status update worthy.” And as I so eloquently put it as when I introduced the idea, we, Gen-Y, are looking for something to share.

From those who barely use anything to share a thought, a moment and an experience to those who are as savvy as they come, the fact of the matter is we are sharing. I have a great friend who refuses to be part of the social media world but yet, even without him being part of Facebook, he is still inherently effected by all those around him who use Facebook. No matter which way you approach it, we all share. And we all share more than compared to pre-social media and pre-mobile times. The question is what are you giving us to share? Will we say it’s good or it’s bad?

Multi-tasking: Chances are members of Gen-Y are doing more at once than is truly conceivable by everyone else. And this has resulted in notions of being elusive, over-ambitious, and even the famed notion of entitlement. The reality is, we do many things at the same time and we do them well. The problem is everyone else believes in doing one thing at a time.

We simply don’t shop, work or walk. We compare, confirm, analyse, search, research, connect, share, respond, text, tweet, Facebook update, examine the mobile website, get answers from everywhere possible for the best situation possible. And it’s not a matter of having to, it’s simply because we just want to.

With that all being said, I can already picture the arguments of over-zealousness coming. Just face the facts. If it was up to me, I would have 3 computer screens in front of me instead of doing everything the hard way on a single laptop. I’ve never headed into a purchasing decision without knowing everything else first. If I don’t know, I’m, texting, BBMing and looking at everything I can find on the web. And when I walk, I don’t bump into things. But I do glance at a my BlackBerry and send off of messages if I can.

There is so much unused power in truly understanding who Gen-Y really are. No, we won’t become robotic drones. And our souls aren’t controlled by Facebook. Are their implications to these actions? Of course there are. Though, when aren’t there implications to a particular action. The power, effectiveness and significance of connecting, sharing and multi-tasking can’t be denied. It’s almost as if we all put Gen-Y down because we can’t embrace their great qualities and abilities in being, well, great. Imagine the productivity, free-marketing and advertising, heightened abilities and everything else they provide simply by being themselves. There is no room for negativity here. Embrace the stereotypes. Embrace Gen-Y.

(Photo credit)

Are You Looking for Gen-Y? Or Are You Waiting to Be Found?

Written on October 6, 2010 by Josip Petrusa

0 Comments

It’s becoming more obvious and apparent that traditional marketing and advertising efforts are not yielding the same traditional results. And this is something I’m been preaching for a while. We, Gen-Y, are different. It’s just that plain and simple. No matter which angle you approach it at, or what perspective you choose to believe, you would be a fool not too know that this generation is different.

For some reason, there is much dissent and debate to how strong these differences really are. And if anything at all, is Gen-Y that much different from everyone else. Truly, you would have to be blind not to understand the hurdles Gen-Y has created, both actively and passively.

The reality of the situation is that in a whole new world old tricks don’t necessarily always apply. With many aspects of the internet such as social media and video streaming, to the rapid emergence of the mobile sector and even the changing state of television, simply keeping on the same marketing and advertising path will lead you to over-expenditure of budgets compared to earlier years.

The issue at hand here is whether you are actively looking for your Gen-Y customers and consumers or whether you are simply waiting for them to come to you. Not only is this distinction imperative to understand, playing hide and seek with this generation can be extremely costly. We look where we choose to look. Not where you tell or want us to look.

We’re no longer subject to simply watching TV and waiting for the commercial to be over. If I’m not watching TV, I’m on my laptop. And if I’m not on my laptop, I’m on my BlackBerry. And if I’m on my laptop and BlackBerry, I’m not watching what’s on the TV. The most fascinating point in all of this is the only advertisement I remember is the cute one my girlfriend posted on my Facebook wall.

It’s fascinating because like most members of Gen-Y, I’m always connected with the platforms of TV, the internet and mobile. In any situation, we’re most likely on one of the three. And when it comes right down to it, I can hardly recall a time when a friend wasn’t more influential than an ad. If you want my opinion, you should hire Gen-Y to reach Gen-Y.

Nothing stands out more on Facebook, Twitter and LinkedIn, well in any circumstance, than a personal touch. Amidst all the clutter and noise, you have no choice but to eventually become personal in your relationships. Whether you like it or not, you’ll have to make that effort. It’s never good to assume anything, but just like everyone assumes the internet provides the answers to everything, everyone also assumes that everyone else is “social”. And this is slowly catching on with in the world of apps. “How come they don’t have an app?!”

So if you’re waiting to be found by Gen-Y, there’s a really good chance you’ll slip through the cracks. It’s not about presence. It’s about engagement. With everything we have technologically available, we actually know about everything before it comes out. And we’ve already made our decision before you’ve even began advertising to us. And we’ve made our decisions known to everyone around us. It’s an interesting cycle and endless cycle.

I’m not the doom and gloom type nor am I suggesting Gen-Y is unreachable. In fact, this is probably greatest moment in time when you can actually reach who ever you like. And it’s not an issue of great content. Great content has always existed. You just have to jump into a Gen-Y frame-of-mind. You have to be interesting, different and use what we use. You have to come looking for us.

(Photo credit)

Support a Cause and the Millennials Will Support You

Written on September 22, 2010 by Josip Petrusa

0 Comments

Corporate support towards a cause is nothing new. This age-old agenda of giving something back, tax-breaks and corporate mission-statements has become every day run of the mill stuff. The company branded charities, cash register donation change boxes and neighbourhood events, have changed the world for individuals in need, and rightfully so. There is an overwhelming amount of social and environmental issues that require support. Though companies, brands, products and retailers play a supporting role to a degree, one can only help but wonder if this is true heart felt support or simply business.

Now, I’m not suggesting that support towards causes don’t exist. They clearly do, in almost every direction you look. Nor am I suggesting current efforts are meaningless, as enough will never really be enough. But I can’t help but sense that everyone has reached a certain toleration point with no one willing to go beyond the current threshold. Especially at a time when more social and environmental issues seemingly exist while revenues and profits continue to grow.

A recent cause marketing study completed by Cone, aptly title the 2010 Cone Cause Evolution Study, decisively suggests Millennials are amongst the most cause conscious consumers. And how could they not be. In a world where every social and environmental point of the spectrum is falling apart, Millennials can only hope that their collaborative, optimistic and team-orientated nature along with their parental promises of a better livelihood will fulfill their dreams and get everything back on track.

It’s really no wonder why 94% of Millennials aged 18-24 find cause marketing acceptable, with 53% buying a product that has benefited a cause over the last year. Equally, a company’s support towards social or environmental issues has influenced where 87% of Millennials will work and where 79% of them will invest. Numbers of which are all noticeably higher than the average (94% vs 88%, 53 vs 41, 87 vs 69 and 79 vs 59).

Even in the wake of the recession, there is a strong growing trend and general societal sentiment towards the support of causes:

83% of consumers want more of the products, services and retailers they use to benefit causes. 81% said companies should financially support causes at the same level or higher during an economic downturn.

This really isn’t an issue of whether it should be done or not. This is strictly an issue of how much you’re willing to undertake. And how it fits into the essence of your business plan. I’m not telling you to break the bank here and go all out. I’m fine with business and notions around it. But it would be great for you to do something positive. To do something above and beyond your current minimalist support.

So what does this imply? I’ve always been a believer of civilian support but it would be absolutely amazing to see a company take on a cause without spinning it off to their customer. Equally, I would love to see “environmentally friendly” actually result in environmentally friendly. Not merely just “friendlier”. With “green” implying the same positive progress. Sadly, these products are priced higher than their regular product counterparts. Most of which do not make a worthwhile difference. When you’re an unemployed or under-paid or a living at home Millennial, the green branding is hardly noticeable.

You have to make a significant contribution – and no carbon credit tricks here. Cause marketing would not only be an effective medium but it would provide something beyond the current support available. I really don’t expect this massive shift towards a hippie-esque society nor am I asking for it. But support towards a social or environmental cause through a marketing effort could realistically benefit the company, customer and cause. Though, cause marketing must go beyond a company-centric mode of thought.

Not only does cause marketing deliver a series of inherently beneficial aspects, it can most certainly provide a level of differentiation. With Millennials holding great value in causes and being highly cause conscious, cause marketing can be an absolute home run. Like I said earlier, enough will never be enough. And no one realistically has those extreme expectations. But the current company-centric minimalism doesn’t cut it. Actually support a cause, in every essence and meaning of the word. And you’ll be shocked to the support Millennials will give you. You make a difference and you make a sale. How could you go wrong?

(Photo credit)

7 Quick Ways To Think Like A Millennial

Written on September 10, 2010 by Josip Petrusa

16 Comments

It’s always fascinating to watch companies, products and brands trying to target Millennials. Yes, we YouTube, Facebook, text, share and connect, but just because we do it shouldn’t suggest that if you do it we’ll necessarily tag along. Just like you shouldn’t assume that if we “like” a Facebook page, it gives you permission to go beyond that and clutter our news feeds. If we wanted all that clutter, we would’ve asked for it.

With all that being said, many miss the target when going after Millennials. Simply, it’s because they’re not talking, thinking or acting like Millennials. Here are 7 quick ways to get you thinking like a Millennial. I’ll admit, they’re a little broad. But be creative. Be open-minded.

If it’s slower than a text message, it’s too slow.
We’re highly optimistic, seemingly regardless of the situation. Don’t deceive us, but do give us something to be optimistic about.
We sleep with our smart phones. We eat with our smart phones. We go to the washroom with our smart phones. Well, you get the point.
There’s some great and cool technology out there. Use it.
Chances are we’re doing more than one thing at a time. So why do you market and advertise to us like we’re only do one thing at a time.
Any situation we’re in could possibly warrant us to tell someone else about it. Give us something good to talk about. And don’t worry, we’ll make sure to tell everyone about the bad.
Don’t interrupt our daily processes. It would be the equivalent of us interrupting you while you’re speaking. It’s, well, rude. But hold on a sec, I have to send this message…

Targeting the Millennial market is by no means an easy one. Will every suggestion we give ever really be taken into consideration and put forward? I doubt it. But if you’re smart about it, there are a series of clever and non-traditional ways that can be used, aside from the over-emphasis on social media marketing along with other obvious and quickly drawn conclusions. Effort is definitely being wasted in many area’s and missed in others. Though these 7 points don’t necessarily represent all that there is to know about Millennials, but they most certainly give you something to work with. Just remember, think like a Millennial. It’s easy, isn’t it?

(Photo credit)

It’s Not Just About Privacy, Millennials Want Trust

Written on September 2, 2010 by Josip Petrusa

0 Comments

Historically, information has been used to keep records of citizens, patrons, customers, employees and more. As the times evolved, this information was used to maximize opportunity, improve experiences and simply, use the information to gain any advantage possible. But as everything else evolved, methods of gathering information followed suit.

Collecting information seems like a harmless act. We’ve decided to give it to them, so they have the absolute ability and authority to use it. It’s been in the small print since the earliest days of the internet amongst other technological innovations over the last two decades. And we’ve accepted most of it without question. Even disregarding George Orwell’s concerns from 70 years earlier.

Knowingly and unknowingly, we’ve given up privacy over the years simply by surfing the web. What’s fascinating with this is the growth of social networking sites and our understanding that we’re giving up privacy for the sake of it’s use. 85% of Millennials understand that by participating in social media, they’re giving up part of their privacy. Further, 81% said their social profiles are but only a snapshot of who they really are.

Seems like a perfect trade off, doesn’t it? Alright, so we’ve all signed the “deal with the devil”, since we want to use it but we’re not saying everything about ourselves. And many Millennials have accepted this. Even with mass privacy concerns in the social media environment, users have hardly been deterred from it as a result of privacy concerns. And Facebook would be the perfect example of this. How many Millennials, how many of you have stopped using it because of its extreme privacy issues? Not many. Nothing notable to talk about out of it’s 500 million plus users.

Of course we understand, especially with social media, what we put up will be viewed by others, even by those on the back-end. It’s often been said that our lack-of-concern has made many Millennials unwary of the impact our incredible online use can have for each Millennial’s personal image. Trust me, we understand this. Some of us even want to be found.

Millennials are very willing to accept the “terms of use” in everything we sign up for. From the apps on our smart phones to the many sites we frequent, we understand our actions are monitored. Sadly, we accept it for the sake of use. But at the same time, we hope, we trust that the information that is taken from us about us will be used accordingly.

For many of us, the ideas of privacy and trust running synonymously together. However, mistakenly, we often assume one in the same for both ideas. Merriam-Webster defines them as the following:

Privacy (noun): the quality or state of being apart from company or observation. Freedom from unauthorized intrusion.

Trust (noun) – assured reliance on the character, ability, strength, or truth of someone or something. One in which confidence is placed.

There clearly is two defining distinctions. And though the notions of privacy and trust do run hand it hand, Millennials belief in trading a little privacy does not coincide with them trusting the same environments.

Of those aged 18-29 years olds, 79% “never” trust social networking sites or only trust them “some of the time”. And even though Millennials are highest amongst all users who alter their privacy settings to be more private, there’s an unmistakeable want for a sense of trust of their privacy. We want control of what we put online. And we don’t want our permissions to be dragged in to other unknown areas. But then again it’s easier for everyone to be “tricked” into participating in something unknowingly, since many users, customers, people never “opt-out” of anything. Imagine how useless things would be if you had to “opt-in”. No one would.

A distorted understanding of users-based permissions, of which are in the small print, will cause a negative-trend amongst all users. 70% of all consumers who “liked” a Facebook fan page feel they didn’t give that company permission to market to them. Getting permission from Millennials is imperative. The worst thing you can do is spam a Millennial. It’s not only useless, but it gives us something to hold against you. And trust, we’ll remember. And tweet about it. And start a Facebook page about it. It’s not good for company PR. Since 44% of us have used social media to both rant and rave about brands, companies and products. How about giving us something to “rave” about instead.

What’s interesting about all this, it’s having profound effects on Millennials in the offline world. Millennials trust offline marketing pitches 3 to 1 more than those online. Makes you wonder why there is such an emphasis in online and social media marketing if we don’t trust you. Even though we’re willing to give up some of our privacy, we’re not willing to give up our trust.

The result of this has created Facebook spin-offs like CollegeOnly, where only those in actual colleges are allowed to be users on the site. Investors are not even granted user access. Talk about privacy, trust and a Millennial orientated social networking site.

It seems that even though we’ve given up levels of our privacy, any distrust in our relationship will cause Millennials to react. As issues of privacy have become a growing case, especially with the likes of Facebook – pun intended – Millennials will ultimately not trust the online world or even social media for that matter. So what does this mean to you? It means that you shouldn’t betray us. We’ve given you our privacy but we won’t as willingly hand you our trust. That’s something you will have to earn.

(Photo credit)

Understanding the Gen-Y Consumer and Shifting Retail Environment

Written on August 20, 2010 by Josip Petrusa

0 Comments

The recession and global economic events that have transpired over the last two years have had a significant impact on consumers and retailers alike. Undoubtedly, the situation has affected everyone differently. The circumstances all carry the same underlying characteristics, yet there are clear distinctions amongst different segments within the population.

Although I won’t be diving into each of these segments, I will be looking directly in the direction I always do. And that’s towards those young consumers of Generation Y. Whether you believe that they’re a product of the environment or that they’re a catalyst in creating it, the Gen-Y consumer is reshaping our notions of consumerism and the retail world.

Breaking Down the Gen-Y Consumer

There’s no denying the recession has had a few underlying effects to current consumer behaviours. Decreased spending would be the most obvious and immediate one to come up in any conversation. But there’s more behind the current Millennial behaviour.

One of the most imperative and often overlooked factors is the issue of unemployment. Even with great parents that “spoil” us, an unemployment rate of 19.5% for those under 30 is quite profound, considering it’s more than double the rate 9.5% of the entire US workforce. Directly and indirectly, it has caused Millennials to be a little more price conscious. One third of Gen-Y now shop at low-priced retailers, such as Walmart, compared to just under a quarter of all adults.

These price conscious Millennials have also become seasoned bargain hunters. Not because they’re cheap but rather, they’ve become highly accustomed to the pattern behaviour of the retailers. A pattern where Gen-Y simply waits to “[I’ll] get it on sale.” A pattern in which 54% of 18-24 year-olds are delaying making a purchase in anticipation of deals and price reductions. Something of which only one third of older adults are doing. Even with my crude math skills, I know that a difference of 21% is significant. But do retailers truly understand the disparity that’s occurring?

A Shifting Retail Environment

An increasingly competitive environment has pushed retailers to leverage the smallest of opportunities. Years of marking-down prices has created a “I’ll wait until it goes on sale” consumer mentality. A mentality that is heading into direct conflict with rising back-end costs that retailers are facing. There is every indication that as material, labour and transportation costs continue to soar, we will most certainly see a decrease in discounting and an actual price increase in products as early as next year.

As retailers face this eventuality, we’ll begin to see the creation of new acquisition, retention and loyalty strategies. E-commerce and m-commerce will grow extensively in the coming years. And they will be anything but typical approaches.

We’re seeing the creation of unique online sites that are providing limited time and quantity deals on products from companies that are socially-responsible while giving to non-profits. And it doesn’t stop there.

We’re in the midst of an app boom. This is the result of advanced mobile technologies, the growth of Gen-Y’s love affair with smart phones and the absolute want, especially from Gen-Y, for greater mobile ability. Enter Shopkick.

Shopkick is a location based mobile app that check’s in the user once they’ve entered a location. They then receive “kickbucks” for walking into the locaton, scanning items, etc, which can be traded in for different credits. I can only imagine the different types of apps that will most certainly come to being. However, will they truly be any different from similar programs we already have? And who will truly be satisfied by apps such as these, the consumer or the retailer?

Where Gen-Y Consumerism Is Heading

It seems that the whole retail environment is becoming less about retail and more about everything else. The Gen-Y consumer has grown to love patterns of price reductions and is increasingly leaning towards a price-conscious state of mind. For Gen-Y, there almost has to be something extra. It’s not simply about buying the product. It’s about the “extra” benefits we’ll get out of it.

Retailers, on the other hand, are playing their own acquisition tune. Inevitably, retailers will move away from slashing-prices as consumer confidence also inevitably increases. This transition will establish a significant m-commerce presence. And one that will have to make-up – or at least appear to make-up – for the decrease in wanting to “get it on sale” and the eventual increase of prices.

The defining characteristic in all of this will be based on the result retailers take in establishing “that” relationship with Gen-Y consumers. When it all comes down to it, we will always consume. But where we consume from will rest on the shoulders of the retailers. As these retailers continually gather and asses greater amounts of consumer information, they should remember not to overlook the simple facts. It’s not about what we buy, it’s about the sale, the deal, the “extra” benefits we get from it. And the most amusing aspect in all this is the retailers only have themselves to blame.

(Photo credit)

How Will Gen-Y Change the World: A Gen-Y Mini-Series (Part 5 of 5)

Written on June 9, 2010 by Josip Petrusa

0 Comments

Here we are, Part 5 and the final piece to this Gen-Y Mini-Series. What a ride it’s been! And although at the end of Part 4 I wrote that Monday would be the original posting day, I decided that with so many articles still being read along with myself being busy and away from my beloved laptop I would post it today. Alas, here it is. Hopefully, you’ve all had the chance to read the rest of the series. But in any case, pull up your socks. Today we’re going through a series of trends that Gen-Y will ride into the future. Here is how Gen-Y will change the world…

It’s An App World After All

The social media craze, wave, take-over and whatever else you want to call it is pretty apparent. Or wait, is it social networking? Regardless, going “social” seems to be one of the major things trending as of now, on a global scale. With the greater means to connect and communicate, the power of “social” is not in the websites, where “social” began, but rather it’s in the apps. Not only is this an aspect of a world that is continually pursuing service-based industry over product-based industry, it’s an extension of ourselves through technology. As technologies become more “personal”, we will become increasingly app-based in an gradually dominating world of apps.

Quite frankly, the proof is everywhere. Smart phones, pads and tablets are all based on apps. Take a look at Apple. When’s the last time you heard something about their MacBooks. And when’s the last time you haven’t heard about the iPhone or iPad. Most of accessing Twitter is based on apps. As well as the emerging “social” power Foursquare. We are coming to a point where we’ll be “checking-in” to everything everyday. And Gen-Y will be at the forefront of this. As Millennials progressively become individuals in “groups” think, an app-based world is not only evident but it will also be commonplace and an everyday aspect of life Gen-Y will “most-use”.

The Introduction of Social TV

As apps continue to expand in use and functionality, they will ultimately introduce what I like to call Social TV. Social media has existed on TV, in a sense, to draw attention to specific social media web pages. However it hasn’t really existed in a “tweeted”, “liked” or “shared” live-web sense. Though not to take all the credit, there have been instances where social media has been used to decide something for TV by popular demand. But what I am talking about will be the introduction of live feeds directly on TV. It will only be a matter of years until you will see the number of tweets in the corner of the TV to show how many people are watching. Though live Twitter feeds and the similar things are already in the works to be combined with your TV screen as you watch TV, they’re merely the combination of existing technologies.

What I am purposing with Social TV is the ability to have everything we can currently do on the web, take it one-step further and integrate it into live broadcasts, reruns and anything else that will allow us to share everything we’re “watching…” and see actual number of “watching” appear in the corner of screens. Gen-Y will be the ultimate sharing generation as apps, social media and the social TV become life. What a new and interesting world this is becoming as we move beyond web 2.0.

The Consumer vs. The Student

Over the series and different from the first two points of this article, I introduced the ideas of “Consumer Horizontalization” along with the“(De)value of Education” and the “Era of the Masters Degree”. The fascinating issue behind these ideas is the profound effects that Millennials will have on consumerism and education. The fascinating issue itself is that Gen-Y will gravitate towards the Consumer and away from the Student. It seems like a pretty simple and mundane idea however the consequences are vast. And it all seems to be a result of education losing its value. As there are more people that are educated, education is not nearly valued the same as when there were less people that were educated, even though it is literally be the same education. As the world opens up to areas where education might not be necessary to succeed, the downfall is that at a time where the gender gap is closing education loses value. Fundamentally, education is not providing Gen-Y the promises of a “better-life” and the “dream-life”.

Don’t get me wrong, education is imperative and is an absolute-must in any society. But as Gen-Y faces more con’s rather than pro’s, we will see a raising number away from education. Though this number won’t necessarily be lower. In relative terms, the ratio will be down. For those who in a sense “risk” going for the ROI value of education, they will be coerced into more education to fulfill basic needs. The result of this will push Millennials and all of Gen-Y to be the Consumer, since hyperconsumerism will at least satisfy their needs of a “better-life” and the “dream-life”. Let me be clear, it is a mistake to assume that these are negative undertones. Rather this is merely a shift in life that will grow with this generation. Even though we are making less money and it feels like it’s nearly impossible to get a job, we will still spend to fulfill our promised life. When it comes down to “the Consumer vs. the Student”, the Gen-Y Consumer takes the round. At least it looks that way for now.

As we conclude this Gen-Y Mini-Series, I understand that we haven’t covered a variety of other Gen-Y issues. Though this may be the final part to this series, it is not the end. I thank you all for reading and the great responses I have received. If you haven’t read the first 4 parts, I suggest you do. Hopefully this gave you all a glimpse into how Gen-Y will change the world and provided you with some answers. If not, stay tuned. You might be getting those answers sooner than you think.

How Will Gen-Y Change the World: A Gen-Y Mini-Series (Part 1 of 5)

Written on May 31, 2010 by Josip Petrusa

10 Comments

Last night I went on a TED adventure. “TED is a small nonprofit devoted to Ideas Worth Spreading” (and you can read further about TED on their about page). After watching a few videos and clicking through the site, the most fascinating thought hit me. As a Millennial and member of Generation Y, the thought is a question that I think we must answer and have to answer.

How will Gen-Y change the world?

I must admit, it’s a pretty open and broad question. The answers are endless. And each discipline can quite realistically answer this question in a different way. But the reality is that there are huge implications with this generation. Everything about Gen-Y seems to be interesting, complicated, surprising and problematic. However to really see what Gen-Y is about, you have to break them down and get to the heart of Millennial issues.

Today is going to be the first of five articles in a mini-series for this week. I’m going to dub it “How Will Gen-Y Change the World: A Gen-Y Mini-Series” (I know, it’s a pretty obvious title). So strap yourself in. Clear your mind. And get ready for a wild and interesting ride. First on our agenda: the Gen-Y Consumer.

The Gen-Y Consumer

The Gen-Y consumer is drastically changing the commercial landscape. Although to the naked eye this is not apparent, their consumer habits are reshaping many characteristics. This is being fuelled by a series of Gen-Y ideals. We are very clear on what we want and when we want it. Gen-Y wants the dream lifestyle now. And this itself is pushing products and brands into a lifestyle brand culture. In simplest terms, we want everything to happen now. We want the Benz (google search “Generation Benz” and you’ll see Mercedes is going in the right direction), the 7 For All Mankind designer jeans, the Chanel handbags and so much more. Can we afford it? Definitely not. But has that stopped us from trying and wanting to live this lifestyle? Not at all.

Hyperconsumerism and Gen-Y

Increasingly, all members of society are becoming hyperconsumerists. We are buying absolutely everything. And what we buy often causes us to buy more just to satisfy the first thing we bought. It has come to a point where you can quite realistically have multiple items that do the same thing, and yet we purchase more.

It’s really nothing new to know that we buy more now than ever before. And this increases as years go buy. What’s mind-blowing is the combination being created between Gen-Y and hyperconsumerism. This relationship is the catalyst to something more profound. It’s what I would like to call “consumer horizontalization”.

Consumer Horizontalization

Products and brands have always been placed on a vertical scale. One ranked higher than the other based on aspects such as brand name, exclusivity and price amongst other characteristics. In lamest terms, you would have differentiation based on top-level, middle and low-level categories. With that, you would have social classes that would fit these categories. Gen-Y is dramatically turning this vertical scale into a horizontal one.

Consumer horizontalization is the effect that Gen-Y is having on hyperconsumerism and all products and brands involved. As Gen-Y seeks to fulfill their dream lifestyle and as brands take on a lifestyle brand culture, you will effectively see a horizontal scale beginning to emerge. Although products and brands can very well bring their existing characteristics with them, they will differentiated based a series of other characteristics such as quality, customer service and ability to be customized.

And for those of you who made it down to the bottom of this article, you might be asking for some proof. The proof effectively exists in the malls and stores we all frequent. As time goes by, we see products and brands, which are ranked differently on a vertical scale, right beside each other, which is the emergence of horizontalization. With that it can’t be ignored that a horizontal scale is emerging. Nor can it be denied that Gen-Y is leading consumer horizontalization. As smartphones become “smartphones” and cars become “cars”, what will you do to standout and get a Millennials attention?

So stay tuned this week as we explore how Gen-Y is changing the world…