Millennials with Kids: Marketing to This Powerful and Surprisingly Different Generation of Parents by Jeff Fromm


925820027dcfe1a-261x361.jpg Author Jeff Fromm
Isbn 9780814436585
File size 3MB
Year 2015
Pages 240
Language English
File format PDF
Category family and friendship



 

Thank you for downloading this AMACOM eBook. Sign up for our newsletter, AMACOM BookAlert, and receive special offers, access to free chapter downloads, and info on the latest new releases from AMACOM, the book publishing division of American Management Association International. American Management Association. To sign up, visit our website: www.amacombooks.org eBook.file. The copyright information for this title may be found at the end of this eBook American Management Association • www.amanet.org Advance Praise for Millennials with Kids “A great read! Providing a fresh look at the American family, this book is c­ hock-­full of strategy, but written in a way that makes you feel like you are grabbing a coffee with the authors. Millennials with Kids is both informative and entertaining and tells the story of a changing market influenced by the most powerful generation to date.” —­Julia Kanouse, Vice President of Marketing, National Restaurant Association “Could not put this book down! Millennials with Kids offers a new look into a generation that approaches parenting in a completely different way. You will finish this book knowing how to effectively engage and inspire these young parents.” —­Patty Fair, Brand and Consumer Insights Expert, Whole Foods “Embracing new marketing strategies like the Brand Atom will be imperative for businesses wanting to succeed in the digital era. Jeff and Marissa have developed new schemas that will not only help us to better understand the millennial parent cohort but will also guide the future of marketing. Great read for those invested in making an impact in our market today.” —­Jenny Rooney, Editor of CMO Network, Forbes “Millennials with Kids should be required reading for marketers and executives looking to understand this young, influential segment. It busts many myths and provides rich frameworks and case studies that show what is and isn’t effective with this demographic.” —­Sucharita ­Mulpuru-­Kodali, Retail Analyst, Forrester Research American Management Association • www.amanet.org “There were numerous times throughout the book where I thought, ‘Wow, this could be me. I eat there; I buy that; I shop like that; t­ hat’s important to me’ and the list goes on. As both a millennial mom and an Executive Chef at Applebee’s, this book is a ­must-­read for brands looking to connect with other ‘mompreneurs’ like myself.” —­Jessica James, Executive Chef, Applebee’s, and writer for RealFamilyKitchen.com “As we are reimagining ways the National Turkey Federation can connect with modern consumers, Millennials with Kids could not be more timely. This book has helped guide our vision and strategy for connecting with millennial families of the future.” —­Joel Brandenberger, President, National Turkey Federation “Fromm and Vidler dish up much more than interesting food-­for-­ thought in Millennials with Kids. If you or your firm have an appetite to capitalize on the many opportunities represented by the massive millennial market, their book serves up a veritable feast of rich and actionable insights.” —­Bradley (Woody) Bendle, Consumer Experience & Insights Expert, Payless ShoeSource Worldwide “In Millennials with Kids, Jeff and Marissa have created a narrative, peppered with real strategy and tangible takeaways, that explains the shifting paradigm of parenthood in the digital age. It is a must-­ read for marketers trying to reach this influential and e­ ver-­evolving ­generation.” —­Stephanie Sladkus, Publisher, People StyleWatch at Time Inc. “The ideas and strategies in Millennials with Kids enabled us to improve our retail and marketing strategies to ensure more of our premium treats made it to the pet parents who love our brand.” —­Scott Ragan, President, Three Dog Bakery American Management Association • www.amanet.org “Book is long on actionable insights . . . ­easy-­to-­follow case studies and a few marketing models that break the ­old-­school rules.” —­Jim Elms, Chief Executive Officer, Initiative “Millennials with Kids is a great resource to better understand an important subset of an increasingly influential driver of consumer spending. Brand marketers, executives, and investors who read this book will gather key insights into who millennial parents are, what motivates them, and how influential they can be to achieving business results.” —­Steph Wissink, Senior Research Analyst, Piper Jaffray “The transition from ‘con’sumer to ‘pro’sumer is profound and represents the confluence of all the big shifts we see in connectivity, technology, and cultural consciousness. Millennials with Kids captures the importance of these shifts and offers both substantial guidance and encouraging examples to help us confidently navigate a transforming society.” —­Nancy Giordano, Applied Futurist and Founder, Play Big Inc. and Cultural Acupuncture “Millennials with Kids is a true testament to how quickly the market changes. The Millennials we thought we knew are now parents and are viewing brands through an entirely different lens. Jeff and Marissa do a wonderful job staying ahead of trends and providing the most actionable tips and tricks to keep up with this constantly changing generation.” —­Neeli Bendapudi, Dean, University of Kansas School of Business American Management Association • www.amanet.org “A complete decoding of this enigmatic generation would take volumes, but the ­Turing-­esque cryptography orchestrated by Fromm in his second work provides great insight into the real messages being delivered behind the behaviors of Millennial parents.” —­Chris Carlisle, Vice President & General Manager, Jarden Home Brands “Millennials with Kids gives me tools and actionable examples to drive engagement in a digital, social and mobile world ­that’s constantly changing. And most importantly gives me insight into one of the most influential demographics in our society today.” —Dave Finnegan, CIO/VP Tech and Interactive, The Orvis Company “Grounded in research, Millennials with Kids investigates the changing mindsets of young adults as they take on more responsibilities and start families for the first time. Jeff and Marissa explore what it truly means to be a millennial parent, and help bring light to a generation that we once considered to be an enigma.” —Olga ­Osminkina-­Jones, Vice President Marketing Danone Waters of America American Management Association • www.amanet.org millennials with kids marketing to this powerful and surprisingly different generation of parents JEFF FROMM AND MARISSA VIDLER AMERICAN MANAGEMENT ASSOCIATION New York • Atlanta • Brussels • Chicago • Mexico City • San Francisco Shanghai • Tokyo • Toronto • Washington, D.C. American Management Association • www.amanet.org CONTENTS Foreword  ix Acknowledgments  xiii Introduction  1 CHAPTER 1 Who Are They Now?   7 Getting Older and Wiser   10 American Pragmatism ­Remix—­Millennial Style   16 The Five Orbits of Millennial Parents   22 So You Want to Market to Millennial Parents?   38 Chapter 1: Key Takeaways   44 CHAPTER 2 Welcome to the Ization Nation   47 Personalization  56 Democratization  67 Casualization  75 Chapter 2: Key Takeaways   85 CHAPTER 3 Fifty Shades of Your Brand   87 Creating Brand Passion   88 Consumers Are the Competition   92 American Management Association • www.amanet.org viii  CONTENTS Storyliving  99 Useful Is the New Cool   106 Chapter 3: Key Takeaways   117 CHAPTER 4 The Power of Energy  119 The Path to Purchase   119 Center Your Energy   126 If You Build the Content, They Will Come   137 The Content Excellence Landscape   146 Chapter 4: Key Takeaways   155 CHAPTER 5 The Middle of the Road Could Be the End  157 Price Is King, Convenience Is Queen   158 Monkey in the Middle   163 Convenience Isn’t Always Convenient   174 Loyal to Loyalty Programs   181 Chapter 5: Key Takeaways   190 CHAPTER 6 Spotlight on Millennial Dads  193 Dad’s New Role   194 Dads Are Snowflakes, Too   196 Help Dad Be Great   198 Tag, You’re It   200 Afterword  201 Notes  203 Glossary  211 Index  217 About the Authors   225 Free sample chapter from Marketing to Millennials by Jeff Fromm and Christie Garton   227 American Management Association • www.amanet.org FOREWORD As the CEO of Beazer Homes, I have had my eye on the Millennial generation for several years. You simply can’t be in a ­consumer-­facing business without acknowledging that we face an unprecedented test: Understand, interact with, and ultimately meet the needs of these Millennials, or run the risk of being passed by the most important demographic wave of the century. It is not an exaggeration to say that these enigmatic and yet powerful young adults hold most consumer markets in the palms of their hands. Their behaviors and preferences will impact the future of today’s most successful brands even as they embrace new and disruptive brands. After reading Marketing to ­Millennials—­coauthored by Jeff —­I felt as if I had a reasonable grasp on the Millennial generation. I had a better sense of what they were looking for, how they were looking, and what they expected to happen when they found “it.” This led to actionable and measurable strategies we put to work in our company. Then those pesky Millennials had to go and grow up and start their own families and change the rules . . . again. We were told in Marketing to Millennials that ­18-­ to ­34-­year-­olds were the enigma generation. Now they are rapidly becoming the American Management Association • www.amanet.org x  FOREWORD socially pragmatic generation, ­crowdsourcing everything from baby food to babysitters as they seek out businesses to help them streamline their increasingly busy lives. Millennials with Kids is an entertaining and widely informative look into the mindset of our economy’s newest parents. As explained in the book, these young parents are looking at businesses and brands through a more practical lens. Instead of asking “How can you solve my problems?,” these Millennial parents are looking for the tools to address problems themselves. This is a highly independent generation, and they simply do not rely on their predecessors the same way Baby Boomers did when they started families. While the saying “It takes a village to raise a child” is still true today, we must recognize that the village has grown by the 500 friends the average Millennial now has on Facebook. And ­that’s before taking into account the other social and ­crowdsourced resources today’s parents are relying on. As digital natives, these Millennial moms and dads are researching and connecting with brands across dozens of different platforms, primarily from their mobile devices. If you don’t understand why they do the things that they do, then you won’t be positioned to participate in their activities. While all of that is a bit daunting to me as a business leader (and also a humbling revelation about my own parenting efforts), Jeff and Marissa have boiled down the most important things to know about Millennial parents into digestible and actionable insights. In our market today, it is “keep up or keep out,” and this book provides you with the tools not just to keep up but also to get ahead. I have known Jeff for more than 30 years. He has always been at the forefront of predicting consumer trends that most marketers don’t discover until it is too late. He and Marissa have put together American Management Association • www.amanet.org FOREWORD  xi a Millennial parents’ guidebook that explains not just what they are doing but also why they are doing it and how you should adjust to increase engagement and, ultimately, your success. You will not want to put this book down, but when you do I guarantee it will be filled with notes and ­dog-­eared ­pages—­either in writing or on your ­e-­book platform. Allan Merrill CEO, Beazer Homes American Management Association • www.amanet.org This page intentionally left blank ACKNOWLEDGMENTS Creating this book was a big endeavor, and we had amazing collaboration. Marissa Vidler, my coauthor, brought years of marketing research experience, writing talent, marketing wisdom, and a passion that never faded. To all my business partners, thank you for your support and guidance. Leah Swartz interviewed numerous sources and wrote and rewrote entire sections of the book before, during, and after her graduation from the University of K ­ ansas—­what a champ. Greg Vodicka worked to improve new business models, while Chris Dickey helped turn Big Data into useful and actionable marketing strategies. David Gutting was actively involved in the original qualitative and quantitative research we conducted and made significant contributions to the early development of our thesis, structure, and ideas. David Weaver and Joe Cox made insightful suggestions as we deconstructed traditional marketing strategies and reimagined models that will guide the marketing industry in the future. Jordan McCormack and Brendan Shaughnessy were involved throughout the entire process and were ready to help with copy review and offer their support whenever needed. Finally, Jeff King gave us his total confidence and emotional intelligence. Thank you all! To my friends at Consumer Orbit, Staci Kassen and Jay Huck- American Management Association • www.amanet.org xiv  ACKNOWLEDGMENTS abay, who burned the midnight oil to help build b ­ ehavior-­based orbits that were deduced from analyzing 11 million U.S. Millennial households that already have children. Ryan Barker and BERA Brand Management also played a crucial role in our reimagination of Millennial Brand Love and the brand value equation. In addition, Woody Bendle and Rebecca Zogbi performed a comprehensive and insightful review of our final work that significantly improved the product. We appreciate the support of the AMACOM team, including Ellen Kadin, Irene Majuk, and Rosemary Carlough. For all these contributions, Marissa and I are grateful. In addition, I want to recognize and thank Rhonda, Laura, Abby, and Scott as well as my parents, Bill and Bernie, and my brothers, Andy and Dan, for their ongoing love and support. Marissa would like to thank her husband, Andrew, for his love and unwavering support, not to mention his patience for the countless weekends and evenings lost to writing. She’d also like to thank her parents, Cindy and Michael, sister Megan, and all of her friends, whose support keeps her going every day. Jeff Fromm American Management Association • www.amanet.org Introduction The year is 2035. Millennials, who have since rejected the term “Millennial” as too youthful, now call themselves the “Pragmatist” generation and are in the throes of middle age. Wisdom and practicality have replaced their once carefree and adventurous ways. Their status as the most t­ech-­savvy generation has long since been overtaken by their own offspring, who are now teenagers and young adults themselves. When Millennials were younger, they created their own unique language, digital shorthand, and developed social networks that connected them across countries and continents, giving a global perspective to what was once a small world. As they grew up and entered the work world, their influence shifted from being participative consumers to being inventive brand designers, marketers, and ambassadors. For many Millennials and their children, dependence on the manufacturing, food, and retail organizations that were a necessity for earlier generations is no more. Living off the grid and growing your own food are the norm, and DIY and ­on-­demand manufac- American Management Association • www.amanet.org 2   MILLENNIALS WITH KIDS turing are commonplace thanks to the ­3-­D printer in almost every home. This has made a ghost town of what was once a nation with a thriving capitalist economy. Many of the tombstones memorializing former businesses are etched with the same epitaph: “Destroyed by Millennials. If only there had been a book . . .” Only the organizations that invested in learning about Millennials, especially as they matured and started families of their own, survived and thrived. It is possible that this is an exaggeration, though we won’t know for sure for a few more decades. We do not have a crystal ball that can predict the future of organizations. (If we did, this book would cost a lot more.) What we can say with complete certainty is that the world is changing, largely led and influenced by the Millennial generation and its unprecedented impact on the tastes, attitudes, and culture of older generations. As members of this generation mature and impose their values, attitudes, and behaviors onto their own children, the organizations that don’t invest in understanding who these consumers are now and who they will be as they mature may want to begin shopping around for tombstones. If this fabricated story about the collapse of Western civilization ­doesn’t convince you of the sheer power of Millennials, maybe the facts will. With more than 78 million Americans born between 1977 and 1996, Millennials make up approximately o ­ ne-­quarter of the U.S. population, surpassing Baby Boomers (born 1946 to 1964) and eclipsing Generation X (1965 to 1976) three times over. The utter size of this generation is enough for most organizations to take notice, but, as they say, size isn’t everything. The buying power of Millennials is immense and diversified. Millennials already account for an annual $1.3 trillion in consumer spending in the United States,1 which will only continue to grow as American Management Association • www.amanet.org Introduction  3 DID YOU KNOW? THERE ARE 3 MILLENNIALS FOR EVERY GEN XER IN THE U.S. Intro-A they mature in their careers and become more affluent. But it’s not just the money they spend; it’s the influence they wield that impacts how other generations spend their money. Millennials are the largest population in our market ­today—­there are roughly three Millennials for every Generation Xer in the United States. If you ­haven’t already read Marketing to Millennials: Reach the Largest and Most Influential Generation of Consumers Ever, by Jeff Fromm and Christie Garton (AMACOM, 2013), we highly recommend it. ­Really, it’s a great read. Offering a deep dive into the Millennial ­Mindset™—­how Millennials live, think, and ­shop—­Marketing to Millennials unveils a number of important insights about this generation that you should know before reading this book, including that Millennials: • Are some of the earliest “digital natives” • Are interested in participating in your marketing • Are known as content creators and users • Crave ­adventures—­often “safer” adventures • Strive for a healthy lifestyle • Seek peer affirmation • Are hooked on social media in much the same way that older generations are hooked on e‑mail at work American Management Association • www.amanet.org 4   MILLENNIALS WITH KIDS • Are not a homogeneous cohort • Embrace authentic cause marketing and align to brands with a purpose • Are in many ways similar to older generations What about ­what’s next for Millennials, as they grow, mature, and start families? While these insights and strategies can be applied across the board to this generation, some important differences between Millennial parents and those who are not parents emerged during the research for this book. Most significant of these differences is the shift ­toward pragmatism. Of course, it isn’t news that young adults who become parents tend to become more grounded as their priorities shift to keeping this little person alive. This story is as old as time. So why can’t marketers look to past generations and use those strategies to target Millennials as they move to the next life phase? The answer is simple: Millennials’ defining characteristics don’t just disappear when their children are born. They are not disconnecting from their smartphones, losing compassion for causes they once cared about, or shunning adventure. Like Millennials without kids, parents are strongly defined by the generational traits that have set the Millennial population apart from everyone else. However, they are finding new ways to use technology to streamline the trials and tribulations of parenthood, refocusing their support on more local causes, and finding adventure closer to home that is inclusive of their children. The differences that emerged from the research that supported Marketing to Millennials was enough to wet our whistles about Millennial parents and left us hungry for more. This led to a custom American Management Association • www.amanet.org Introduction  5 research effort incorporating a quantitative survey among Millennial parents and a Big Data application, which we’ve summarized in this book. (If you are interested in the ­long-­form report, just go to http://www.millennialmarketing.com/research.) This book is designed to be an easy and enjoyable read from which you’ll walk away with a better understanding of who Millennials are becoming as they mature and settle down and how to best reach them. Unlike so many business books before ours, we don’t want your only takeaway from this book to be how very smart (we think) we are, having bored you to tears with charts and graphs. Rather, we want you to take away key insights, strategies, and thought starters that show your colleagues just how smart you are for having read this book. Everyone wins. Each chapter highlights new marketing strategies that are effective when you are reaching out to Millennials as they step into this new life ­phase—­parenthood. While the primary focus of this book is Millennial parents, the majority of our findings and research shows that Millennial women today are still the primary decision makers for household purchases (very much like Generation X and Boomer households). We found that Millennial moms have a strong presence in the consumer economy today and are greatly influencing the way brands are connecting with young families. We feature a variety of case studies that highlight brands that are doing it right and brands that are doing it wrong when it comes to campaigns that engage Millennials and, by extension, Millennial parents. And don’t forget, Millennial parents are people, too, which is why all examples ­aren’t just about diapers and baby products (though there are some). There is loads of data (don’t worry, not the boring kind) that supports our findings and insights. At the end of each chapter, we pro- American Management Association • www.amanet.org

Author Jeff Fromm Isbn 9780814436585 File size 3MB Year 2015 Pages 240 Language English File format PDF Category Family and Friendship Book Description: FacebookTwitterGoogle+TumblrDiggMySpaceShare While everyone was bemoaning their alleged laziness and self-absorption, the Millennial generation quietly grew up. Pragmatic, diverse, and digitally native, this massive cohort of 80 million are now entering their prime consumer years, having children of their own, and shifting priorities as they move solidly into adulthood.   Millennials with Kids changes how we think about this new generation of parents and uncovers profound insights for marketers and brand strategists seeking to earn their loyalty. Building on the highly acclaimed Marketing to Millennials, this book captures data from a new large-scale generational study and reveals how to: Enlist Millennial parents as co-creators of brands and products • Promote purpose beyond the bottom line • Cultivate shareability • Democratize customer experience • Integrate technology • Develop content-driven campaigns that speak to Millennials • And more A gold mine of demographic profiles, interviews, and examples of brand successes and failures, this book helps marketers rethink the typical American household—and connect with these critical consumers in the complex participation economy.     Download (3MB) Parenting the Millennial Generation Raising Happy Children for Dummies Broken Links, Enduring Ties Praying Circles Around The Lives Of Your Children By Mark Batterson Not My Kid: What Parents Believe about the Sex Lives of Their Teenagers Load more posts

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