Tag Archives: millennials

The Millennial Mindset

On this episode of Ditch The Box we welcome Jeff Fromm, President of FutureCast and author of Millennials with Kids.

jeff-fromm

 

Jeff , the “Millennial Marketing Guy”, has over 25 years of marketing experience under his belt. Currently President of FutureCast, a marketing consultancy that specializes in millennial trends, Jeff also finds time to be a contributing writer at Forbes.com. Jeff has experience that ranges from Build-A-Bear to Whole Foods, and beyond.

During the podcast, Jeff offers outstanding insight into the “Millennial Mindset” and the financial impact of millennial influence across all generations. He also discloses why companies may be unwilling or slow to make changes that could benefit them greatly in the long run.

The Millennials Mindset is not just some fad, here today gone tomorrow. It’s a real force to be reckoned with. So how do we get these millennials to take action? According to Jeff, 55% of financial impact/performance is related to pricing strategy and on shelf position kinds of factors. The remaining 45% is marketing related factors, six in particular:

1. Social circles
2. Emotional connection to brand
3. Innovation
4. Trust
5. Purpose
6. Access

Jeff says that most successful brands dominate one of these six areas and meet the threshold level in the others.

Consumers use content to help make buying decisions. The goal is to have different content to meet the buyer at each stages of the buyers journey. You want content that meets a consumer before purchase, during purchase, and after purchase. However, Jeff stresses that content needs to focus more on consumer interests. “BRANDS THAT UNDERSTAND THE BASIC PRINCIPLE OF FISHING AWAY FROM THE BOAT ARE GOING TO BE THE BIG WINNERS. Brands that are focused on putting their brand name all over content just how they put their brand name on their packaging and on their ad are probably going to miss.”
(Jeff Fromm).

jeff-fromm

The New Consumer: MILLENNIALS

MILLENNIALS
http://www.insperity.com/blog/millennials-in-charge-how-theyre-changing-the-workplace/

Joining us for the third time on Ditch The Box is Debbie Wildrick of MetaBrand. There’s a reason we keep having Debbie on the show…. she continually offers outstanding insight on an ever-changing industry. On this episode Debbie focuses on the new consumer: MILLENNIALS.

In Debbie’s findings, there has been a shift in the thinking and buying habit of the younger baby boomers. This shift has been one of preventative eating, retaining youth, and investing in health. Millennials have taken to this healthy mindset and it has seriously influenced consumer buying habits and demand. Another trend Debbie sees in the Millennial era is buying products based on EXPERIENCE. Now more than ever we are seeing packaging that attempts to create some sort of interactive experience with the consumer. After all, 80% of decisions get made right at the shelf. What’s the differentiation factor? Packaging. People look at the packaging of a product first, because it is the visual and verbal representation that delivers the message of the brand.

So what’s the takeaway? Debbie gives this advice: Natural and organic products need to step up and become more sophisticated and conventional products need to figure out how to merchandise to to the new consumer.