Why Market to GenY?
The last of the estimated 80 million young adults categorized as Generation Y has reached adolescence and companies are being dealt an opportunity like never before.
At twice the size of Gen X, Generation Y — whose age is estimated at between 16 and 30 — is the biggest thing to hit the American retail market since the country’s 72 million Baby Boomers started shopping.
The difference between Gen Y and its predecessors? Its members are the most media savvy, educated and plugged-in generation ever and, as a result, they set the trends in a way no other generation ever has. Between Facebook, MySpace, iPhones and Yelp, these consumers not only know what they like but they have the know-how to influence their friends’ choices as well.
Car manufacturers take notice: this segment of the population — also referred to by demographers as Gen Y’ers, Millennials or Echo Boomers - is expected to buy one out of every four new U.S. vehicles purchased by 2010. One out of four. Chew on that for a while.
In the midst of doom and gloom stories within the U.S. automotive industry, one manufacturer has announced the launch of Express Lane — The First Time Car Buyer’s Guide, an online destination geared towards helping educate the first time car buyer on car shopping. The innovative carmaker sees this as the time to communicate directly with the Gen Y crowd - a group that grew up with a mouse in their hand - while simultaneously promoting their brands as the best first car choice for the newest demographic group.
“While working with the manufacturer and its agency, we recognized the emergence of the Gen Y consumer and saw the need to provide a unique car shopping experience that fits that consumer’s lifestyle,” said Eve Maidenberg, VP Marketing at Jumpstart Automotive Media. “We know they aren’t watching TV as much as other generations have, and they spend much more time on the Web, focusing on content that is personalized and customized to them. We think they’ll love this car shopping community and love sharing it too.”
Those in Gen Y are plugged in, and grew up using the Internet, mobile phones, video games, and MP3 players. This is the first truly tech-savvy generation, a group comprised of millions of multitaskers who are able to watch TV, surf the Web, listen to music, and talk or text on their phones, all at the same time. Technology is the foundation of Gen Y’s relationships, both personal and professional, and the starting point for research and fact-findings for many of life’s larger decisions.
“Express Lane offers first time car buyers a resource that truly fits with their tech-savvy habits and offers tools they can identify with,” said Maidenberg. The site, Maidenberg explained, is a unique mix of content aggregated from Jumpstart’s publishers and GenY-relevant technology providers such as Twitter and Facebook. “Jumpstart sits in a unique position to not only collect the best and most relevant automotive content together for the Gen Y audience from all of our publisher partners, but then to utilize our Creative Labs group in-house to make it all come together in a useful, rich experience.”
Co-branded media is driving qualified users from all 11 of Jumpstart’s publishers to Express Lane, where they are encouraged to personalize and utilize the content. Express Lane also serves as new Gen Y-oriented content for all 11 publishers. Content module topics range from car buying tips and advice, to user generated forums, expert FAQ, photo galleries and featured manufacturer specific content. Modules can be added or deleted, expanded and moved around within the site.
“We aimed to make this program extremely customizable and viral, and will be rolling out additional content development including social media applications, widgets, videos and podcasts,” Maidenberg said.
Since Gen Y chooses to spend much of its time online or otherwise plugged in, its car buying experience is no different. Gen Y turns to the Internet for information concerning important purchases and the initial results indicate that they are finding Express Lane interesting and returning often.
“We are providing a dynamic experience to the Gen Y audience in a safe, high-quality environment, says Steve Wilhite, president of Jumpstart Automotive Media. “We know Gen Y appreciates creative, original and organic marketing, and the initial results seem to suggest we are providing that. Gen Yers are very brand loyal, but they expect the same in return.” Rather than slapping a 300x250 on a social networking page, building tools that are relevant to the daily social lives of Gen Y prove to be a much better investment.
The Internet has become the centerpiece of not only Gen Y’s media engagement, but for how they communicate with each other and their world. Express Lane proves that thinking like a publisher by delivering content valuable to the audience and adding value to experiences is where manufacturers will win. Learning to appreciate your audience and approach them on their turf, the way Express Lane has done for Gen Y, the newest generation of car buyers, will prove to be the new age of digital marketing.
Gen Y understands the world of technology. So ping them, Tweet them, or text them and they will come.
Comments Form
You must be a registered member to post comments on this article.
If you have an account, click here to log in.
If you don't have an account, click here to register. Registration is free.
Reader Comments