Last week, Facebook reached the 1 billion users mark. That means about 14 percent of the entire world population has a Facebook account. In the United States, more than 50 percent of Americans have a Facebook account.
In a recent blog post, Pan Dyer analyzes a report by McCann WorldGroup called “The Truth About Youth.” The report looks at how 16 to 30-year-olds interact with brands compared to previous generations.
The study (see below) revealed that the millennials are the first truly global generation, and that they are motivated by three things that exist in every in every society and drive behaviors:
- The need for community (to connect with others and form relationships)
- The need for justice (to achieve personal or social justice and do what’s right through activism)
- The need for authenticity (to see things as they are)
Dyer lists the key findings from the study as:
- The social economy has replaced the experience economy
- Technology is indispensable
- Truth is currency
- Social justice is an important driver
From a marketing standpoint, Dyer lists the following as takeaways from the study:
- Brands should align their marketing efforts with what’s important to this generation.
- Advertising should be genuine, truthful, sociable, mature, and humble in its efforts to create connections.
- The biggest mistake marketers make is overestimating their own importance. Young consumers say they quickly tire of brands that fill up their social graphs with what they consider meaningless information.