Companies are making a lot
of efforts to understand who their key and happy customers are today.
However
the “plus” is when they also anticipate the future consumption trends,
and VISA seems
to be one of these visionary companies.
As mentioned in the
article, “Gen Ys are everywhere” and “…as they advance in their careers and
lives, so will their importance to all brands, in all verticals.”
The article further points
out the importance of Gen Y psychographics:
“By 2030, their numbers will exceed
all other consumer groups combined.”
This makes of Gen Y - a
first-choice consumers’ category - today and tomorrow.
Why? because companies
know that first movers, who can better decrypt that category, will have the best
chances to get a competitive advantage in the long-run.
However the challenge remains
high!
This generation is different
from their parents or grand-parents more especially in their motivations and decisions
to BUY.
As matter of fact, a company may need assistance of social media “Y-nsiders” to properly
understand that complexity.
As mentioned in the
article, the overall question is about
“…turning wants into needs by educating Gen Y buyers on the necessity of such purchases…”,
“… convincing them of your
offering’s specific and unique attributes…”, and
“…making it relevant to
their lives…”
Gen Ys, are you ready to BUY?
Read more: Y it’s different:
Understanding gen Y Consumers, Ways Brands Can reach them, and how Visa Can
help, by Jonathan Salem Baskin – see http://usa.visa.com/download/merchants/marketing-to-gen-y-how-visa-can-help.pdf
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