A few weeks ago I worked with a client to explore how their business and current product offering could be modified and enhanced to better attract and engage Gen Y customers. \u00a0For this organization, they recognize that if they don\u2019t engage a younger customer group their business will be at risk of not surviving.\u00a0 It is a serious business challenge for them and requires a new mindset to evaluate what they currently do and how it can be enhanced to tap into what Gen Ys value. It\u2019s important to understand this cohort if you want to engage them and build them as loyal customers.<\/p>\n
Generation Y makes up close to 30% of the population in both Canada and the US. Gen Ys represent a $200USD Billion dollar market in North America and influence over half of all economic spending.\u00a0 As a cohort, this generation is influencing brands by requiring not only functional and emotional benefits but also participative benefits (Hanover Research<\/a>).\u00a0 What this means is that they expect to be engaged with the brands they purchase and be rewarded for their participation \/ interaction with that brand.\u00a0 Loyalty programs are one example of receiving a benefit for being a repeat customer.<\/p>\n Gen Ys expect brands to engage them just as much as their employers do.\u00a0 As a cohort, they have a strong desire for:<\/p>\n What this means for your organization\u2019s products and\/or services is that they need to provide younger customers with the ability to communicate with you, provide suggestions, be rewarded for purchasing your product and understand how you demonstrate corporate social responsibility.<\/p>\n Younger customers are asking your brand to:<\/p>\n There are several examples of how brands have responded to the expectations of Gen Ys by adjusting their products to tap into what motivates this cohort.\u00a0 For example,<\/p>\n There are a number of ways to engage Gen Ys and attract them to your brand, including:<\/p>\n Attracting Gen Ys to Your Brand A few weeks ago I worked with a client to explore how their business and current product offering could be modified and enhanced to better attract and engage Gen Y customers. \u00a0For this organization, … Continue reading What Gen Ys Value<\/h3>\n
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How Brands are Responding<\/h3>\n
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Engaging Gen Y<\/h3>\n
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