talking to strangers:millennials trust people over brands
DESCRIPTION
Millennials expert Jason Dorsey shows you how this socially-dependent generation will change the way you do business.TRANSCRIPT
Talking to Strangers: Millennials Trust People over Brands
Confidential and Proprietary. © 2012 Bazaarvoice, Inc.
Introductions
Jason Dorsey CEO of The Center for Generational Kinetics
Erin Nelson CMO of Bazaarvoice
Confidential and Proprietary. © 2012 Bazaarvoice, Inc.
Meet the Millennials
• 1.6 billion worldwide1
• Ages 17-34 currently
• 2017: more spending power than any other generation2
• Early social adopters
1. US Census Bureau 2. Kit, Yarrow and O’Donnel, Jayne. Gen BuY: How Tweens, teens, and Twenty-Somethings Are Revolutionizing Retail
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User-generated influence
Confidential and Proprietary. © 2012 Bazaarvoice, Inc.
What they won’t buy without others’ opinions
Confidential and Proprietary. © 2012 Bazaarvoice, Inc.
Action: Share user-generated content everywhere they shop
• Encourage conversations
• Spread UGC to all Millennial shopper touch points
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Millennials talk to and trust strangers
Millennials are 3x as likely to turn to social to get opinions on products to buy
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Action: Feature friends and strangers
Display content from strangers, friends
– People they know, social connections (social graph)
– Strangers like them, experts (interest graph)
Make it easy to filter, sort, and search
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Questioning brand motives (but continuing to share)
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Action: Prove that you care
1. Respond to input
2. Answer questions
3. Facilitate conversations between consumers
4. Act on feedback (and let them know)
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Top 3 takeaways from The Center’s Analysis
1. Add user-generated content to your homepage, and anywhere products/services are featured—or risk losing their business
2. Don’t delay responses
3. Don’t be afraid to ask
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Conclusion: Start the conversation with Millennials now
• Connect with Millennials where they live—and connect them with each other
• Use their words to drive purchases and loyalty
• Let them know you care what they think—respond and act on feedback
Confidential and Proprietary. © 2012 Bazaarvoice, Inc.
More info & methodology
• Full report: PeopleOverBrands.com
• Methodology:
– Bazaarvoice survey conducted by Kelton Research between 8/25/11 and 9/05/11
– 1,013 Americans 18+