New Demographics for the Social Digital Age
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Caroline Baxter discusses the irrelevance of traditional demographics for marketing in the context of generations X, Y, and Z, emphasizing the need for evolving strategies that reflect current consumer behaviors. She highlights the importance of targeting communities based on shared interests rather than stereotypes, utilizing data and analytics from social media and online interactions. The presentation illustrates how changing communication methods and values among younger generations necessitate a deeper understanding of consumer preferences in advertising.
New Demographics for the Social Digital Age
- 1. NEW DEMOGRAPHICS FOR THE SOCIAL DIGITAL AGE CAROLINE BAXTER
- 2. Who Am I? Business Startup Coach Started in Motor Trade Business Management & Consultancy Digital/Online Business Product Launches 2010/11 Social Media Marketing Artist Manager (US) Sage Business Expert
- 3. Tonight I want to speak about; How „Traditional Demographics‟ for campaigns are no longer relevant. How our peculiar assumptions of generation X must NOT be applied to target generation „Y‟ and „Z‟ Where we can look for demographics of the future. What metrics we can integrate into campaigns today, to better target the behaviour of purchasers of the future.
- 4. Who are Gen X Y Z?
- 5. What Assumptions Do We Make? GENERATION X GENERATION Y GENERATION Z •Individualistic •Selective about who •Avid multi-taskers •Technical they listen to •Demand interactivity •Flexible •Not as interested in (touch screens and •Work/life balance TV connectivity to many •Creative •Need to stumble onto things) •Low key your message; •Expect things NOW •Innovative •Traditional marketing •“This isn‟t connected •Flexible less effective to the Internet, huh?” •Low cost, good •Thrill Seekers •Independent and quality, value seekers •Social, collaborative adaptable •Less loyal to Brands •Not brand loyal •Loyal to Brands
- 6. Generation X ,Y, Z 69% Of Gen X & Y Parents are „Friends‟ with their children on social media platforms They share their likes & interests They are shaping and influencing their childrens tastes Generation Y & Z consider email passé Some international universities have stopped distributing email addresses We are moving into the age of touch This not only dictates how we advertise, but where, when & to who The thought process behind campaigns just got a whole lot longer....
- 7. So Are Traditional Categories Relavent? I I Me & Me Too! My Pets Coldplay Me Too! Is This Age, Income, Ethnicity Based? Are We Relevant?
- 8. Changing Face Of Announcement...
- 9. Pinterest Casts Out Gen X Stats Pinterest hasn’t even chosen its business model. How will it make money? Their data and analytics on females could be worth billions
- 10. Social Media + Clickstream We can now Monitor clickstream by interests Companies are gathering this data – results need to be made readily available Communities are being built around shared tastes & interests Brands and companies need to be targeting „Communities‟ not stereo types Delivering only what is relevant to the end user Targeting consumers when & where they browse
- 11. All About Choice Do we really study online communites? Consumers look for entertainment and play Social media give users a choice – they can turn on/off In the age of free media, should we not be targeting our ads towards the new demographics that platforms provide? Search results in Google provide „Personal Web‟ results Spotify - What music do we like? Touch – What tablet do we use? Messaging – what channels to we communicate on?
- 12. Interest Based Influence 50% of the world is under 30 1 in 5 couples met online 3 in 5 gay couples met online WHAT DO YOU THINK AFFECTS THEIR CHOICE IN A PARTNER???
- 14. Seek Collective Interests For Ads
- 15. One Last Statistic I recently saw a 2013 Prediction Based On Current Figures... Social Gamers Will purchase $6 billion in virtual goods Moviegoers Will purchase only $2.5 billion in real goods Are Traditional Demographics Still Targeted?
- 16. THANK YOU NEW DEMOGRAPHICS FOR THE SOCIAL DIGITAL AGE CAROLINE BAXTER