Talking to Strangers: Millennials Trust People over Brands
Introductions
Jason Dorsey CEO of The Center for Generational Kinetics
Erin Nelson CMO of Bazaarvoice
Confidential and Proprietary. Š 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. Š 2012 Bazaarvoice, Inc.
What they won’t buy without others’ opinions
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Action: Share user-generated content everywhere they shop • Encourage conversations • Spread UGC to all Millennial shopper touch points
Confidential and Proprietary. © 2012 Bazaarvoice, Inc.
Millennials talk to and trust strangers
Millennials are 3x as likely to turn to social to get opinions on products to buy Confidential and Proprietary. Š 2012 Bazaarvoice, Inc.
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)
Confidential and Proprietary. Š 2012 Bazaarvoice, Inc.
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+
Confidential and Proprietary. © 2012 Bazaarvoice, Inc.