Studies indicate that 66% of consumers, regardless of age, will purchase from a brand they feel is sustainable and trustworthy. The numbers are even higher once the Millennial cohort is isolated; at 73%. When companies and brands tailor their advertising with trustworthy information for their target customer, conversion rates are boosted 30%.

Demographics Are Everything
Baby Boomers, the generation born between 1946 and 1960, were once considered the largest generation to ever live. This generation, for decades, has been the foremost influence driving business’s marketing efforts and product lines. But, all that’s about to change.

In the next few decades, the largest transfer of wealth, over 30 trillion dollars, will take place—from Boomers to the Millennial generation and their little brothers and sisters; Generation Z. Demographics are everything, and the aging of the Boomers and the rise of Millennials and Gen Z is going to severely change the marketing and business landscape.

Millennials and their younger counterparts look at companies, brands, and businesses through an entirely different lens than Baby Boomers, and brands are starting to feel the pinch of their critical gaze.

The Millennial generation is far more risk-averse than their Boomer elders. Millennials are more likely to value experiences over things, and will spend their money accordingly. They are not investing in real estate, and are far less likely to buy a car new and on loan, or even own a car at all. Furthermore, this generation is more skeptical of brands than their predecessors.

Trust Is Visceral
While trust has always been an important metric and component driving customer buying decisions, with Millennials, trust is now a key component, not a peripheral, nebulous concept. For them, trust is visceral, and necessary. Despite their young age, this generation and the one behind it are jaded toward the business and advertising worlds.

It’s hardly surprising. While Boomers came of age during the post-war boom, when housing prices, relative to income, were still affordable across socio-economic status, for Millennials this is not the case. Furthermore, this generation witnessed and experienced the massive fallout of the housing crisis of 2008. Since then, this generation’s trust in institutions and brands and businesses was severely crippled and eroded. To earn Millennials coveted trust in the business world, brands are required to operate in a trustworthy, and sustainable fashion. And, brands who are perceived as civically responsible will be more likely to obtain those depreciating Millennial dollars in the coming years.

So, how can a brand appear trustworthy to younger consumers?

• History: By sharing the company history or brand’s personal story, offering social proof
• Accountability, i.e.: ‘money-back guarantees’ or offering free trials
• Affiliations: Proving authority through affiliation with other trustworthy brands in the sphere
• Relatability: Approaching from a sympathetic angle by understanding the customer’s pain points. Telling stories in an informal, casual tone
• Subtlety: Offer value first without requiring anything in return

Businesses will have to compete in this new generational ethos. Boomers will not be the largest holders of disposable income soon, and in order to stay competitive in the new market, brands that build trust with their customers will reign supreme.

Marketing companies have been competing for the minds of millennials fiercely over the last few years – and for good reason.

Millennials represent about a quarter of the entire US population, and have over $200 billion in annual buying power. Though they have less discretionary income than Baby Boomers and older generations, they have a lot of influence – and are hard to reach with traditional marketing methods.

But are millennials still the hottest consumers out there? Or should we be focusing our efforts on a new generation of consumers? Here’s the scoop.

Millennials Are Still The Most Important Consumer Generation – For Now

Millennials are defined as individuals who were between 18-34 in 2015 by the Pew Research Center. They are just now entering the prime of their lives as consumers.

As millennials age, their income continues to grow as a generation. Most millennials are now out of college and working in professional careers, and millennials are the most educated generation to date.

This means that the buying power of millennials is only going to grow in future years, as they begin to start families and earn more discretionary income.

However, millennials will not stay at the top of the heap forever. As time goes on, Generation Z continues to grow – and a new generation of consumer is born.

Gen Z – The Largest Consumer Generation In History

Generation Z is defined as the “post-millennial” generation. While most definitions vary, it’s agreed that most Gen Z individuals were born around the year 2000 or later. This generation already makes up 25% of the population, and is forecasted to continue to grow.

As Gen Z becomes older, and younger people begin to enter the consumer market, they are likely to become the most highly sought-after consumer generation, just as millennials were before them.

Focus On Millennials In Marketing Efforts – But Don’t Forget About Gen Z!

How should brands market their products? Luckily, millennials and Gen Z both share a few common attributes. Consumers from both generations are tech-savvy and have quite a bit of influence on the market – and both Gen Z and millennial consumers do not respond well to traditional advertising methods.

While millennials should be the focus on most marketing efforts, Gen Z should not be overlooked. Brands should be using social media platforms like Snapchat, Instagram and Twitter to reach a younger audience, and should always be on the lookout for hot trends that could appeal to Gen Z consumers.

Conclusion

As time goes on, millennials will become less important as a consumer audience, and the importance of Gen Z will grow. So focus on millennials for now, but don’t forget about the younger generation.

BUT… when it comes down to the heart of what you want the agency to deliver for you creatively, it’s best to keep it short and sweet. The immersion is the key area where we intend to learn anything and everything about your brand, business, category and consumer. This is where the data-dump should take place.

Whereas the actual initiative we are working on should be able to be interpreted in one-page or less. References to examples that you’d consider benchmarks are always a plus.

If you do this and hear crickets, then the agency just doesn’t get it and maybe the long-form is necessary. However, more times than not, the agency will appreciate the synthesis of your objectives, and be able to move ahead much more efficiently with the task at hand.

So the next time you’re getting ready to pull the trigger on that brief, try and remember this tip. It will save you time on both ends.

Thanks for reading, and let us know if this was helpful, or if you need help crafting that brief.

As consumers, we are programmed to intuitively select the products and brands we need based on what looks familiar (e.g., the easiest decision to make). And as marketers, “the goal is to make consumers repeat their purchases by matching the value proposition to their needs.” Consumers don’t want to spend the mental energy when shopping (online or in-store for that matter), so why make them?

The solution for brands lies within understanding the habits of their consumers, and evolving or improving upon them based on what their brains are programmed to be looking for. And unless consumers are absolutely screaming for a change, and the return is solid for your business, then making a dramatic change is no bueno.

Brands like Coke, Tropicana, GAP, and many more have undergone redesigns in some capacity over the years. Consumers didn’t demand it. They weren’t educated on the change, nor provided a real rationale. The result was backlash, and even a decline in sales, which pushed the brands to quickly go back to the original. A lot of time and money lost. However, sometimes it pays off (only if the demand is there), but often times it doesn’t.

There are more examples and insights we could share, but we simply don’t have the time, nor blog post space to do so. That said, we want to leave you with this very simple message: If it ain’t broke, don’t fix it. And if you decide to fix it, make sure you do it in a way that doesn’t disrupt the habits of your consumers.

Skoda, a Czech Republic based auto manufacturer, was recently looking for an intriguing way to reach out to young buyers and increase sales of their compact car. This sounds like every other auto manufacturers’ mission, so how do they did Skoda break through the clutter? They turned their car into a hostel of course!

The Skoda Hostel campaign, was launched earlier this summer in Russia, at the peak of the festival season, when thousands of young Russians would be traveling to Moscow. Travelers were looking for cheap places to stay, and hostels were the go to. The Skoda Hostel was fully equipped with the basic essentials such as fresh linens, privacy curtains and a private portable bathroom for a one night stay for two guests.

The Skoda Hostel was unlike anything guests had experienced. Patrons were not charged for their stay, and were even encouraged to drive the car around the city. In lieu of payment, guests were asked to tweet, post and share their experience on social media.

What sparked our fire: World’s smallest social media driven, mobile hotel.

Would this campaign have been successful in the US?

Enjoy!

-Canopy Team

In general, most auto manufactures tend to focus on protecting drivers against road conditions, other drivers and extreme weather. Hyundai has taken its focus to another level by teaming up with a digital marketing agency and the creators of The Walking Dead, to design a zombie survival machine. The result is a fully operational Elantra Coupe that can survive any zombie attack. In addition to the concept car, a mobile app called the Walking Dead Chop Shop, has been created allowing fans to design their own survival cars. This idea was inspired by Hyundai’s product integration in The Walking Dead last year.

What sparked our fire: Hyundai’s transition to an indestructible brand.

What post-apocalytpic logic will influence your survival machine?

Enjoy!

-Canopy Team

Doughnuts are about as American as French fries and apple pie, but you’ve never seen them quite like this. Voodoo Doughnuts, Voodoo Doughnut, based in Portland, Oregon, is baking outrageous and over-the-top doughnuts ranging from bacon glazed and bubblegum to NyQuil-laced and voodoo doll shaped.

-Canopy Team

There are shocking new developments in neurological creative stimulation. Dr. Sharon Thompson-Schill, director of the Center for Cognitive Neuroscience at the University of Pennsylvania, has concluded that sending very low doses of electric current into our brain’s prefrontal cortex can actually increase our creativity.  As an example, Dr Thompson-Schill shows people tennis balls and asks their first thought. Those participants not hooked up to electrodes typically answer, playing tennis, but those hooked up to electrodes might be more creative, proposing to cut the tennis balls in half and put them on the ends of chairs to make the chairs slide easier. The boost in creativity lasted the length of time someone was hooked up to the electrodes, and did not last more than an hour after.

What sparked our fire: Physical stimulation used to fire creative neurons.

Does this discovery shock you?

Enjoy!

-Canopy Team

IBM and Ogilvy France have created a series of functional outdoor ads. The ad space provides a ramp, a bench and an overhang to protect from the elements.

What sparks our fire: Ads that serve you a physical experience.

What examples of multipurpose advertising do you foresee?

Enjoy!

-Canopy Team

Performing arts visionary, Aly Rose, designed and choreographed an inspirational display of human movement and dance high above New York’s Central Park. ONE, will be a 3D moving sculpture 150 feet above Central Park. The “moving” sculpture will require the careful coordination of 300 performers, architects, designers, engineers and production crew to get the project off the ground.

What sparks our fire: The combination of technology, design, arts and human spirit.

How have the performing arts inspired you?

Enjoy!

-Canopy Team