Are You Ready for Gen Y

Tomorrow’s decision makers (5-10 years from now) will do everything they can on-line and I would argue that today’s decision makers are leaning more and more towards doing things on-line. I used to go to Nordstrom’s every couple of months, walk through the store and inevitably buy a pair of shoes. Recently I noticed that their selection of brands has diminished as has the size selection of the remaining brands so I have been going direct to the manufacturers site to buy shoes. Buying shoes on-line instead of walking into a store was a result of a circumstance as opposed to me trying to be more efficient. My point here is to think outside the box. I need to forget about how I think things should be (I still think Blockbuster is a good idea) and start thinking how the next generation of customers thinks and then adjust my insurance marketing strategy accordingly.

Let me just say I have never been one to jump on generational behavior as a marketing plan. However, Generation Y is the most distinct generation to come along since the baby boomers arrived 60 years ago. These kids are changing all the rules. For them privacy is not as high a priority as open-and-transparent. They don’t want to be hammered with the slogans and image of traditional advertising and marketing. They want real life examples and if its funny and ironic that’s a big bonus.

So how do you market to this group? You talk to them and you let them talk back to you. You embrace new technology and learn to communicate with blogs and social media. These people don’t run home to watch a show on television, they access the show when they are ready and then they watch it on the device of their choice. Blockbuster, local travel agents, Barnes and Noble, and many others have disappeared from the landscape because they didn’t change. We’re doing everything we can to match our insurance marketing techniques to our client’s habits. What are you doing? Do you think this is an important issue?