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?
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.
]]>If you live in a major metro market, then you know what it’s like to walk down the street and see 90% of the people with their heads down buried in their phone. I was one of those people, until I found myself standing in the middle of the street in Manhattan writing a text and nearly getting hit by a taxi. From that point on, I made sure that I was always looking up. But I am definitely in the minority. And this post is not about the safety, or lack thereof, when it comes to texting. It’s about how marketers can capitalize on this Head Down Revolution.
According to Statista, the U.S. mobile phone penetration has reached 81%, representing 223 million consumers. And those consumers spend an average of 4.7 hours per day glued to their smartphones. More importantly, is the role that texting now plays in our everyday lives, especially when it comes to marketing. For an eye-opening example, texts have a 99% open rate compared to 20% for email*. Pretty amazing, huh? Now I imagine that smartphones are currently in the midst of fine tuning their hardware to introduce features that can block such correspondence. But who knows when that will come?
So until that day, marketers have a humongous opportunity to take advantage and focus their outbound efforts on the behaviors of the smartphone user. A behavior that is now second nature, and while receiving a text from a brand may seem like a nuisance at first, it is certainly less of one than an email. Also, if you’re sending info or content that isn’t selling, but more serving them something of value, then you’re more likely to be able to maintain that dialogue.
And isn’t a dialogue what we want? It opens the door, and leads to traffic. And when you have enough traffic, ultimately it will lead to transactions. It’s this approach to marketing, partnered with the aforementioned tactics, that can build the awareness and engagement you’re looking for.
Now how about a little “social experiment”: The next time you’re walking down the street, take note of how many people’s’ heads are down. It truly is a sight to see. Just think, those eyes could be engaged in your brands message. And if the message is “timed” to when your customer is in the market for a new product, it becomes relevant and timely — a very powerful combination.
*Credits: Jack Loechner — Editor of The Center for Media Research; SinglePoint; Statista
]]>But how much technology can you fit into a 0.8-millimeter-thick credit card?
Well, a lot. Not only can Plastc store credit cards, it can also show loyalty and gift cards. How does it work? It is simple. It works with an app that enables you to quickly swap out cards, add new ones, and track your spending. Plastc itself stores up 20 cards but the app can hold an unlimited number. On Plastc, you can switch up card details through the e-ink touchscreen panel. And it is quite secured with PIN, photo ID, proximity alerts, and ‘Return Me’ mode and If stolen or lost, you can remotely wipe your data. The card is rechargeable and last 30 days once fully charged but it locks in your default credit card if uncharged so you can still use it until you charge up again. So, if you are looking for a simple and elegant way to store your many credit & debit cards, loyalty and gift cards, access cards and more in a single, minimalist card, and say goodbye to your bulky wallet, Plastc could be the way to go. The card would be available in summer 2015. You can get more info on their website.
What Sparks our Fire: a credit card that gets a lot smarter.
Are you ready for the future of payments with Plastc? What are your thoughts on digital wallets
]]>What Sparks Our Fire: customizable jewelry that syncs with you
Would you consider bringing stylish technology to your wrist everywhere with Elemoon?
]]>What Sparks Our Fire: an ingenious app that makes our life easy by enabling us to quickly and easily translate languages.
Are you ready to never get lost in translation with CamDictionary? Let us know your thoughts on this app.
]]>1. Shoe Shine Boy
Shoe Shine Boy is perfect to make shoes and bags shine like never before. This small gadget set has all the goodies one needs for a thorough gleam on calfskin pieces to extend their life. All you need to do is insert two AA batteries into your device, attach the microfiber pad, apply shoe polish to the pad and turn on polisher. Shoe Shine Boy works at 420 rotations per minute and can be used on a wide range of leather products including car seats, shoes and leather bags. If new, the batteries can last up to 70 uses. Think it might be the perfect gift for someone you know? Don’t hesitate to purchase it here.
What Sparks Our Fire: A gadget that can keep our leather goods looking good with minimum fuss.
2. Lensbaby
Lensbaby is a mobile lens more fun than a barrel of filters. Thin enough that it won’t interfere with most cases or other lens attachments. With the lensbaby, you get an effect that’s very similar to the one you get when zooming a lens while shooting, with a depth-of-field blur. A gadget highly recommended for people looking to enliven their camera photography but still merit a #nofilter. So if you want to gift someone who is really into photography, we recommend getting your hands on this. Where to buy? Simply click here.
What Sparks Our Fire: A gadget that can make us have professional camera effect with just our mobile phone.
3. Fujifilm’s Intax Printer
Another gadget for photography lovers. With apps like Instagram and its many filters, quite often, one wish to have its pictures printed. With this Fujifilm’s Instax Printer, anyone can have their phone pictures printed like a Polaroid. Now, that’s cool, right. What is fun about this is that there is no need for a separate supply of ink so you don’t have to worry about running out of ink and don’t have to load cartridges. The gadget actually uses the same cartridges as Fujifilm Instax instant cameras. The camera simply uses LEDs lights along with a liquid crystal shutter to expose the film inside the printer. It is fun and you can watch the image develop over the next several minutes. Fancy this? Get it here.
What Sparks Our Fire: A portable photo printer, because in 2015 millennials will appreciate pictures in print more than the ones on their instagram feed (maybe).
4. Hoodie pillow
And yes this exists. Simple as the tittle, it’s a hood with a pillow. This hooded pillowcase can provide ultimate “ Cocoonification™”, helping you tuck away the stresses of your day. Useful for long flights trip or simply for curling up with a good book, dozing on the couch, watching TV. This is the perfect accessory to enhance your lounging experience. The HoodiePillow Hooded Pillowcase fits all standard bed pillows and measures. There is alsoi the C shape version. Sometimes, pictures speak louder than words. Get one here and why not for yourself as well.
What Sparks Our Fire: a gadget that every holiday season traveler wants, but is too embarassed to purchase for themselves.
5. Slimger
We all suffer from short life batteries whether we have an iPhone or an Android. For some reasons phone makers have not tackled the issue yet. So, in the meantime while they get it all together, we have this suggestion that could be the gift of the year. It is called Slimger: a charger so thin and small it can fit in your wallet. This is the result of a project on indiegogo that received more than six time its initial pledge of $10,000. Thank you to all backers, we can now all benefit from the magic. If you need to purchase a devise. Here is the link
What Sparks our Fire: a useful devise that is easy to carry around and a life/phone save
We hope you found this list useful. What did you pick? Let us know.
]]>In one way or another we are all becoming smart phone addicts. But if you think about it, we use our devices for the same functions most of the time. For instance, we listen to music, text the same people, check our social media feed, and the list goes on and on. So, if you are just like everyone, then you are constantly doing the same thing on your phone. And maybe you wish there was something that could make it easier, like a button you could press instead getting your phone out for every little thing. Well, you’re in luck. Flic will be your new gadget to cherish and to pet. Especially if you appreciate a little ‘real-world’ interaction.
As far as smart gadgets go, Flic is about as simple as it gets. It’s a stylish magnetic button that communicates wirelessly with a smartphone to carry out certain favorite actions, such as launching GPS navigation, controlling lights, snoozing a phone alarm, playing music, controlling the camera’s shutter and even allowing hands-free texting. The button can also be programmed to access the controls of a smart home, with different ‘clicks’ (long hold, double-click, single click) activating certain functions. And you can have as many buttons as you wish. Check out the video below to get an idea of how this tiny device works.
What Sparks Our Fire: A simple and stylish wireless button that can change the way we live every day.
Are you ready to create a button for anything? If so, hurry and check out Flic’s Indiegogo to snatch great deals before they fade away.
]]>What Sparks Our Fire: A perfect gadget for those who live an active lifestyle.
Would you consider EcoStone for your next summertime pool party?
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