The Two Most Important Population Cohorts: Millennials and Gen Z

They now account for just under 40 of US population and US brand sales In less than ten years they will account for well over 50 of the population and sales amp8230 and that will only increase over time Thus Boomers and Gen X need to effect the changes necessary which acknowledge the importance of the two younger cohorts or Boomers and Xers will become irrelevant and so will the rest of the world not just from a societal standpoint but from a business standpointKey questionsWhat39s the critical thing we need to know about Millennials and Gen ZWhy don39t they engage with brands the same way Boomers and Gen Xers engageKey answers1 They are much more into experiences they have than messages we send themMeasurable proof of that answer Interpublic Group39s highest profit margin comes from Momentum IPG39s Experiential Mktg Agency not from McCann IPG39s advertising division which is all about messaging not experiencesPrimary Momentum users are Millennials and Generation ZAll three Experiential Marketing Influencer Marketing and Purpose Branding create brands most profitable usersWhy Because these users are Brand Loyalists who don39t require reduced brand prices the way brand Occasionalists do who buy only when the price is reducedThis improves both shortterm cash flow and longterm brand financial valueGiven all the above what needs to be our industry39s next stepBasic foundational research on why and why not Millennials and GenZ engage with brands and society amp8230 and howamp160 they engageA more descriptive name for GenZ is SCREENAGERS because they are the first population cohort to grow up with nothing but screens in their line of visionClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNet

Click to Make Your 2025 Contribution to Support the MediaVillage Education Foundation

The Two Most Important Population Cohorts: Millennials and Gen Z

Author

Publish date

Channel

Michael Donahue

Jon Miller | Cofounder Marketo, Engagio | The Gumball Machine is Broken - Rethinking B2B Marketing - By Mike Linton

More Videos:

Click to Make Your 2025 Contribution to Support the MediaVillage Education Foundation

The Two Most Important Population Cohorts: Millennials and Gen Z

Enjoying This Commentary? There's More to Love

Michael Donahue

Jon Miller | Cofounder Marketo, Engagio | The Gumball Machine is Broken - Rethinking B2B Marketing - By Mike Linton

The payment was successful

Cookies