December 5, 2012
There’s a new generation of consumers moving their way up the ranks but this group is highly tech-savvy and advertising-smart. What do you need to know about Generation i?
Generation i – the nickname for the generation after Y (if you can’t keep it all straight, it goes Baby Boomers, Generation X, Generation Y, and then Generation I) – are the children of late baby boomers and early Generation Xers. Typically you’re looking at folks who were born between 1992/93 and 2003 as being the i-Generation.
The “i” in Generation i however shouldn’t be taken to mean that they’re solely focused on themselves. The “i” really stands for their understanding and interaction with tech devices. These are the kids to whom smartphones and tablets have just always been a part of their lives. Essentially, this is who their parents turn to when they have trouble downloading an app because to these kids it’s second nature. That’s important to you as a business and as a marketer because if you want to capture some of this market you need to talk to them where they can be found and right now that’s electronically. In fact, research shows that this generation more than any other prefers to communicate via writing, not verbally or face-to-face, and loves to interact with one another online.
Who Holds The Purse Strings
The other interesting aspect of Generation i from a business standpoint is that this generation has been given greater spending power at a younger age than any other. Whereas previous generations might have been given a small allowance at this age, this generation has access to cash and credit cards and their parents expect them to make smart purchasing decisions. Whereas before many marketers talking to this generation might really target the parents who dictated their kids’ spending habits, experts are finding that that dynamic is rapidly changing.
Understand Brands But Don’t Necessarily Develop Loyalties
Early research looking at this group of individuals tends to point out that this generation is ahead of the curve when it comes to understanding marketing and branding. This means that they know when you’re marketing to them and they don’t want to be talked down to! However, these are not necessarily customers you can earn for life without any hard work on your part. This Generation hasn’t yet shown a strong affinity for creating lasting relationships with brands if those brands don’t do the work to engage with them. For them it’s less about the status of the brand and more about relationships that brand has with them personally (albeit – relationships maintained mainly online!).
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