s of 80million people), now represent the largest and most influential group of purchasers today. Many grew up with an Internet connection and PC; today they carry smart phones and can access their social network within seconds. Companies trying to grab the attention of this demographic are realizing that engagement begins with their love of technology equipping mobile and online channels with next generation support technology is the surest path to interacting positively with Gen Y.
According to Generational Change blog, “This year there will be more 60th birthdays than ever before. The point is that over the next 16 years this huge generation will all sail past 60 and ease out of the workforce creating a significant labour and management challenge. Now is the time to begin the succession planning in businesses of all sizes.” States Malcolm Anderson.
How Cool Brands Stay Hot book has developed a CRUSH model of how to connect with Gen Y.
Coolness: What does it mean to be a cool brand for this generation? How do you achieve a cool status and why should you bother?
Realness: Brand authenticity is a key aspect that discerns long-term wining brands from fads. With Generation Y, authenticity is attained in another way than the traditional approach of claiming origin, heritage or history.
Uniqueness: A clear positioning based on a sustainable brand DNA will increase impact among youngsters. This generation is craving for anchor brands in a fragmented world. But how do you assert uniqueness when most innovations are copied within a couple of months’ time?
Self-identification with the brand: Gen Y’ers will only feel emotionally connected with your brand when it feels like a friend to them. This implies that your brand should reflect their diverse lifestyles. A better understanding of their identity construction will make your brand fit in with youths’ lives while embracing diversity.
Happiness: Popular youth brands know how to leverage from positive emotions and avoid arousing negative ones.