28 May, 2015

The market generations keep moving on

Melbourne Herald Sun, Thursday May 28, 2015

So you're having problems connecting your product to your market. Everything you try doesn't quite seem to make the link, what's wrong with you?

Well the problem I'm afraid, is not you. It's the market. Or the diffuse nature of it.

Remember all the stuff I talk about generation this and generation that? And how you have to alter your message, and the medium, accordingly? Well if you think it's complicated - yes it is. It's not just a matter of one approach for the kids and one for the adults; one for the men, one for the women; one for the affluent, one for the battlers.
Nowadays all these categories are fractured too, and it's all the fault of our modern world. It's moving too quickly and every time you think you have a fix, blink and you'll be wrong.

Once you could control things. By the TV station or newspaper you chose to broadcast in. Then along came the internet which carved up what used to be predictable "linear" time: any night of the week you knew which programs were coming and whether they would appeal to your market. Well that simplicity has long gone.

Google and Facebook have carved up a great quantity of this time too. Generation Xs are not so easily caught by TV, but you can find them on the social media. But wait a minute - "the Millennials" have arrived, those born a couple of years before and after 2000 and they have already moved on. You'll find them on Instagram, Snapchat or now Periscope. And they are totally different to their older siblings. (Not to mention their parents - they're not even visible over the horizon.)

They dress more exotically, eat more adventurously, shop by their phones as much as the shops, treat life as a moving feast. Just wait till they grow some more and start having real spending power, then you will see movement.

The smart marketers are already starting to accommodate their exotic tastes. Brands like H & M and Zara turn over their stock fast. If you don't grab it this week, probably next week it won't be there. But nor will the customer. They are used to instant action and if they don't get it, they will just turn away and call up your competitor on the mobile that lives in their hand.
Don't ask me why but they've taken to spice. Have you noticed Pizza Hut, these days promoting "El Scorcho" and "Blazing Pepperoni"? Nandos have built their empire on chillies. Now the spices of Szechuan, the tom yum of Thailand, the jalapenos of Mexico have created a passion for flame throwers. Even McDonalds have a jalapeno burger now.

Our Millennials have a new set of heroes. Some months ago I wrote about "vloggers". Well these stars of YouTube and Blogger are the touchstone of this generation. Their influence is very strong but if you can link through them, the effect is exponential. Through their constant social interaction, there is no such thing as telling just one person. If they like it, the news is broadcast to their wide circle of friends. But of course, it can also work the other way round - bad news also travels fast.

Sorry to make life harder for you, but if you want to be successful you'll have to keep up with your fast-moving, ever-changing customers.