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Forget Generations X and Y: Here comes Generation V

Discussion in 'General Discussion Forum' started by ManlyBacker, Nov 15, 2007.

  1. ManlyBacker

    ManlyBacker Winging it Staff Member

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    Now you can't say you weren't warned. :cop:


    Heather Havenstein 15/11/2007 08:00:02

    Companies must overhaul their marketing plans to target the latest group, Gartner says.

    Much has been made of the stereotypical characteristics of the generations that followed the Baby Boomer era. The same can be said of the latest generation, but Gartner warns marketers to define them by their online actions rather than their birth dates. In a report released this week, Gartner said that traditional marketing methods won't work with this new group of consumers.

    The latest group, dubbed Generation Virtual, or V, is made up of people from multiple demographic age groups who make social connections online - through virtual worlds, in video games, as bloggers, in social networks or through posting and reading user-generated content at e-commerce sites like Amazon.com, said Adam Sarner, senior analyst at Gartner.

    The V generation is made up of people who are drawn to the Internet's "flat meritocracy" where people can gain status and acknowledgement through ways - like providing advice or recommendations or excelling at a video game - not generally available in the physical world. Basically, Generation V is made up of people who replace physical experience with an online experience, Sarner added.

    The online distinction is important, he noted, because companies looking to sell products and services to this generation of consumers can no longer rely on traditional demographic data like name, age and address to tailor marketing messages. Generation V is more likely to interact with marketers anonymously - through an online persona made up of all their online behaviors, Sarner said.

    "We have to start dealing with this idea of anonymous, multiple personas interacting with our businesses and how to do that," Sarner said. "[Businesses] are creating a world with processes to get them to purchase things. Virtual environments will be a way to orchestrate customer exploration, [but] underneath is the reality that they are providing goods and services."

    Over time, gathering details about the online personas of consumers will become far more important than the mining of demographic data, he added. By 2015, Gartner asserts, more money will be spent marketing and selling to multiple online personas than money spent marketing to off-line consumers.

    For companies to prepare to market to Generation V, Gartner recommends:

    * Organizing products and services around multiple online personas;

    * Selling to the persona not the person;

    * Creating virtual environments as a way to orchestrate customer exploration toward purchases;

    * Shifting investments from known customers to unknown ones; and

    * Developing and retaining new employee skills to attract, connect, contribute and gain insight from generation V and their virtual environments.
     
  2. Matabele

    Matabele Well-Known Member

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    Facebook's advertising pacakge is brilliant.
     
  3. Narcissus

    Narcissus Member

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    Ahh Facebook... the potential employer's dream, the potential employee's nightmare.

    Just one of many reasons I haven't joined Crackbook, despite the constant pestering by my friends :)
     
  4. Matabele

    Matabele Well-Known Member

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    Shouldn't that be the other way around?
     
  5. fLIP

    fLIP UFO Hunter

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    I hate this planet.

    As far as I'm concerned if they want my money so bad they can ****en havin have it. Just leave me alone with all this petty possesions bull****.

    My biggest question in life is why businesses need to make millions and billions of dollars profit? Sure I understand the reason why but when its all said and dusted a company isn't alive. It doesn't need to eat or sleep.

    Children starve while companies get more of something they'll never need to use.

    Ok, i've gone off topic.
     
  6. Narcissus

    Narcissus Member

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    Mata: I assume you're looking at it from the POV that the employer has to worry about the employee wasting all their time on the site, right? I'm talking more about the fact that it's becoming more and more common for potential employer's to look up the potential employee on the site... see what they say about themselves and see what their 'attitude towards life' is. That includes looking to see if the majority of their photos are about them being in various stages of drunkenness or nakedness, or to see if they seem to have 'fleeting' relationships and the like.

    As far as I understand it (I have 'used' it before, but not as myself) that side of things isn't that bad: you can always try and keep the 'real' you private. Unfortunately if you have friends who have no problems with uploading those photos and tagging them as you, then all your efforts go to nought.

    While I'm sure it's great for looking up old foes and so on, it's becoming a breeding ground of employers looking to see if what you say about yourself in the interview is the same as what you say about yourself to your friends. It's the new MySpace and will probably go the same way, too, now that they don't seem interested in joining the Google Open Social initiative...
     

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