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Advertising Agencies Target Generation Y
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By
Michele Fernandez-Cruz
11 March 2004
(U-WIRE) LEXINGTON, Ky. – They total more than 70 million people, are known to be consumer shop-aholics and are a prime target for advertisers. In the next decade they will represent 41 percent of the U.S. population, according to an article on Salon.com.
They were born in the 1980s, known as the Echo Boomers, the Millennium Generation and more formidably, Generation Y.
Generation Y is already three times the size of its parent generation, the baby boomers, according to Business Week Online.
Quickly surpassing its parent generation, Generation Y has grown up in a "media-saturated, brand-conscious world," and is keeping advertisers on their toes.
"This is not about teenage marketing. It’s about the coming of age of a generation," said J. Walker Smith, a generation marketing specialist, in Business Week Online.
With kids "tapping away at computers in nursery school," according to Business Weekly, advertisers have to find new innovative ways to bring messages to Generation Y.
The Internet is one popular source. With concentration on fashion, entertainment and toys, companies have to think like Generation Y in order to win their attention.
"Today, advertising is evolving into event sponsorship," said Phil Osbourne, CEO of Preston-Osbourne Advertising in Lexington. "It has become more of a lifestyle issue, especially since Generation Y doesn’t spend a lot of time reading newspapers or magazines. Instead, Generation Y enjoys additions such as DVD, cable and Internet."
Osborne said engaging, dynamic advertising that jumps out from all the clutter is most likely to catch Generation Y’s attention.
Does this hold true for Generation Y’s older "brothers and sisters," Generation X?
Rick Roth, an assistant professor at the University of Kentucky’s School of Journalism and Telecommunications, says yes.
"These folks are bright," Roth said. "They were raised on the media and they understand that the purpose of advertising is to try to sell something. If they think you are trying to trick them, you lose."
Generation Y is usually characterized as outrageous and they pay attention to things that are on or over the edge, said Dennis Altman, an assistant professor in the School of Journalism and Telecommunications.
Still, Roth said Generations X and Y are a tempting target for advertisers and have been repeatedly analyzed, defined and insulted by failed marketing attempts.
Traditional ads are not attracting either generation — X or Y.
"There are two types of ads, one that shows conceit and conveys how wonderful it is, and the other shows concern, stating what it can do for the consumer," Roth said. "Generations X and Y have sensitive bull—- detectors and are likely to walk away from something that is phony."
The two generations are also not interested in traditional mass media, said Beth Barnes, director of the School of Journalism and Telecommunications.
This could account for recent drops in television ratings.
Nielsen NetRatings, the global Internet audience measurement and analysis group, reported a decline in ratings for prime-time programs. According to Advertising Age, Nielsen reported an average of 9 percent fewer male viewers, ages 18-24, causing a frenzy among media buyers and sellers who were surprised at the drop.
Though some media buyers have put the blame on faulty measurements, there are several media agencies that claim men "left town" a while ago, according to Advertising Age.
NBC, on the other hand, was shown to have the most expensive prime-time programs, topping the charts with the three highest prices. Advertising Age reported that "Friends" is No. 1 with 30-second spots selling around $473,500. "Will and Grace" is in second, selling for $414,500 and "ER" ranked third, selling for $404, 814.
Thursday nights have grabbed the top seven spots for the most costly shows, and are the strongest night for viewers 18-49, according to Advertising Age.
With advertising agencies and marketing firms looking for new ways to market newer generations, both Generations X and Y are not homogenous, instead offering a wide array of attitudes and interests, and whose attention will only be won by multiple media outlets.
Copyright ©2003 Kentucky Kernel via U-Wire
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