With all the hullaballoo surrounding Generation Studies in relation to real estate in recent Gen Y articles here, on Agent Genius (…and beyond …), I thought this would be an excellent time to share a version of an article I wrote on ActiveRain sometime in late 2006. I know it is not a Gen Y article, but I DO have a point in sharing it…
I am sharing this because I am a firm believer that the generation you are a part of plays a part in WHO you are, as a consumer. Granted, it is only a PART, but I believe it is important nonetheless.
Without further ado, here is a snapshot of MY STORY … My Story as a Gen X
“Generation X” is comprised of all people born between (about) 1963 and 1978. Today, these people are in their early 30’s to early 40’s.
I am offering a peek into my world- what I care about, what I like, what I appreciate and what irritates me. So, here it is … No Frills. No Gloss. No Candy-Coated. No Fine Print.
First, let’s talk about how I grew up. You’ll never know where a person is going, if you don’t know where they came from, right?
I, like many in my generation, grew up in a dual income family that was changed dramatically by divorce. I went to daycare, and learned to be independent. Independence was also learned by watching the strength of my Mom – raise a family, work full time and manage a household, all by herself. I helped raise my little brother, while my “single Mom” worked full time. Seeing my Mom (and all my friend’s Mom’s) as an active part of the work force, I never questioned gender equality. In fact, I threw a fit, and started crying when I learned that in royal England, if a girl is born first, her little brother still becomes King. (Grrr…)
I did very well in school, and continued to do well in college. I have seen drugs, alcohol and abuse destroy families, first hand and from a young age. I have also seen neglect- neglect of family and family values in pursuit of status symbols and material possessions. (I wore my “Die Yuppie Scum” shirt proudly on my first day of my Senior year in high school … yeah, I was “that” kid.) I accompanied my Mom on all shopping trips and eventually did family grocery shopping on my own. I almost always had a TV, and watched the first airing of MTV with great fascination (as Friday Night Videos were my only source of music television, previously). I was excited that cable offered an alternative to “boring” shows like 30-something, Moonlighting and Cheers. I grew up in a rather peaceful era- with no wars (to fight for or run from) to unite my generation. My trust resides with the friends I choose… and myself. (Photo from Chicago-scene.com)
What about now? What kind of consumer did all these experiences make me (and most others in my generation)?
According to a generation article on allbusiness.com, “During the 1970’s and 1980’s over one million children were affected annually” by divorce. Experiencing divorce as a child- well, it’s tough. I am not here to judge reasons for or against divorce, just explain the “tip of the iceberg” of ramifications. (Heck! I begged my mom to get a divorce…) Some kids grow up and choose to be non-committal for as long as possible, thus avoiding a divorce. Some, like me, are bound and determined to make a marriage work, no matter what, to avoid a divorce.
Consumer terms: A major commitment (like buying a house) may take a longer decision making period, as we don’t want ANY regrets. But once we decide what we want, we go after it whole heartedly.
I bit Bobby on the back when I was 3 and had to sit on the little black chair in the corner until my Mom came to pick me up from daycare. I remember that, specifically. He was bothering me. The teacher was busy. I had to make my own decision on how to react to this boy. So, I bit him. Although I have stopped biting people, I haven’t stopped making my own decisions.
Consumer terms: Don’t tell me what I need to know. Don’t tell me what I need to be doing, or not doing. I may be more pragmatic than those before me, but I am smart. I know value, and I pride myself in my ability to find value on my own. Show me what you offer and let me make my own decisions.
I like to call myself an “Equalist” …? What is that? Well, I’m glad you asked. I spent a large chunk of my childhood in Brooklyn, NY. I really do not have a concept of racism or “genderism”. (Did you know that we are the most ethnically diverse generation than any that came before us?) There are too many blurred lines in my life to be an “-ist” about anything but equality. Chauvinism, racism or prejudice-of-any-type are very sensitive issues to me- as I see them as barbaric and a waste of time.
Consumer terms: I am more apt to support a business or business person who shares my point of view.
Did you know that Generation X is the most educated generation in the history of the United States, according to Karen Ritchie in her book, Marketing to Generation X? But we don’t value education for education-sake, we see it as an avenue to get a good job, or enter a better career. There has been a dramatic drop in entry-level positions since the X’ers have entered the work force, and more education is the only way to overcome that. We know this. Consumer terms: We are educated and like to make educated decisions. We like facts – clear, precise, to-the-point, no-frills facts. We see frilly froo-froo beat-around-the-bush marketing tactics as an insult to our intelligence.
I have seen family values mocked and destroyed for decades. I cringe at the thought of over-indulgence, and value my family and friends immensely. Things do not impress me.
Consumer terms: If you drive up to my house in a shiny new Beamer and wear your Armani suit with gold cuff links and sport a Caribbean tan, in hopes to list my house with your weak marketing plan, I will probably turn you down in favor of the fact-driven results-oriented marketing plan offered by the guy in the older model Toyota, sporting a pressed polo and khakis. Sorry, glitz and glamour don’t blind me.
Shopping! I have done my share of shopping. I have seen my share of commercials. I have had my share of advertising blaring in my face and ears. Actually, it has been around me my whole life. Maybe that is why I do not watch television much at all, anymore. I have seen it all. I like to watch and look at what I choose to. I mastered the almighty remote at a very young age. I want to be in control of what people are trying to sell me. And I can change the channel (or click the mouse) the minute I decide it is not worth my time. I am not brand-loyal. Not at all. Give me the same quality with a better price, and I will switch in a second and remain loyal to my decision. Give me crap? I will switch right back.
Consumer terms: This one’s a doozy …
- I will pick apart all advertising that anyone sends my way. I don’t mind advertising and marketing efforts. I just don’t like charades. Why do you think my generation loves the “making of” and “behind the scenes” stuff so much? We are sick of what’s being offered- it’s all the same. Call me cynical, but I would rather know WHY it is being offered, made, etc. Give me the “meat” of what you are offering- no flowers, no sleek marketing ploys, no fine print (I will read it…). Give me what I want and I will respect that more than fancy-pantsy Hello Kitty lip gloss flavored postcards and web pages.
- Give me what I want in small digestible segments. Remember … I have the attention span of … oh, look! A butterfly! My attention follows the ol’ 9/3 rule: 9 minutes of cartoons – 3 minutes of commercials/ downtime. If you cannot “grab” me right away, I will “click” -find a new cartoon to watch. Maybe it is my lack of patience? Or is it my ability to get through the “decision making” parts of my life as quickly as possible to enjoy the quality of life (which I value way over status) with my friends and family? Could very well be both. But it is what it is.
- We are not brand loyal, but we appreciate value. Good news for smaller brokerages and bad news for discount brokers. The “Re/Max” (sorry guys!) sign is not very persuasive to us. We will choose and agent based on the agent, not the company. We are more likely to browse agent sites online, than call the local office and ask to be connected with “an agent” –it goes back to our pride in our decision making abilities. We also understand the value of good service and discount brokers are not about good service- we understand this. We are not willing to settle for crap. We may brag to all our friends that we just bought a whole outfit for under $20 at Kohl’s, but we will also be the first to tear up a broker agreement if we feel that the value is not there. Show me the value, and I’m all yours. This is where we run into the problem of my generation asking for “rebates” and “discount” listings. Unless we know- without a doubt, that you are worth what you charge or what you get, we will assume that we did/will do more than you did/will do, and will want a reward for our efforts. So, if an agent IS worth their commission, they need to tell us why. If they don’t, someone else will, and we will give them our business, and “click” – we’ll watch a different cartoon.
For as much as these principles are true to most of my generation, for the most part we are very individualistic. We hate to be lumped together- not only with other generations, but even among our own generation. Ironically, we hate the term “Generation X” as it implies that we don’t know what we are. Maybe “we” don’t know who “we” are, but “I” know who “I” am, and “she” knows who “she” is and “he” knows who “he” is and that is all that matters to us.
Consumer terms: Thin ice here. “Just because I drive a Jetta, doesn’t mean I know Yoga” (now there is a company that knows how to market to our generation…) Just because the last “younger” couple that an agent took out wanted a tri-level for it’s functionality, doesn’t mean that “we” do. I know what I want and there is no persuading me otherwise. (This is a sensitive issue here … Baby Boomers are the same age as our parents, and we don’t need people acting like parents to us, no matter how heart-felt it is…) Assuming anything about what we want, or trying to sell us something that we do not want, is more than a minor faux pas- we are easily offended and may very easily “click” – watch a different cartoon.
So there you have it.
How a Facebook boycott ended up benefitting Snapchat and Pinterest
(MARKETING) Businesses are pulling ad spends from Facebook following “Stop Hate for Profit” social media campaign, and Snapchat and Pinterest are profiting from it.
In June, the “Stop Hate for Profit” campaign demanded social media companies be held accountable for hate speech on their platforms and prioritize people over profit. As part of the campaign, advertisers were called to boycott Facebook in July. More than 1,000 businesses, nonprofits, and other consumers supported the movement.
But, did this movement actually do any damage to Facebook, and who, if any, benefited from their missing revenue profits?
According to The Information, “what was likely crumbs falling from the table for Facebook appears to have been a feast for its smaller rivals, Snap and Pinterest.” They reported that data from Mediaocean, an ad-tech firm, showed Snap reaped the biggest benefit of the 2 social media platforms during the ad pause. Snapchat’s app saw advertisers spending more than double from July through September compared to the same time last year. And, although not as drastic, Pinterest also saw an increase of 40% in ad sales.
As a result, Facebook said its year-over-year ad revenue growth was only up 10 percent during the first 3 weeks of July. But, the company expects its ad revenue to continue that growth rate in Q3. And, some people think that Facebook is benefitting from the boycott. Claudia Page, senior vice president, product and operations at Vivendi-owned video platform Dailymotion said, “All the boycott did was open the marketplace so SMBs could spend more heavily. It freed-up inventory.”
Even CNBC reported that Wedbush analysts said in a note that Facebook will see “minimal financial impact from the boycotts.” They said about $100 million of “near term revenue is at risk.” And for Facebook, this represents less than 1% of the growth in Q3. However, despite what analysts say, there is still a chance for both Snapchat and Pinterest to hold their ground.
Yesterday, Snap reported their surprising Q3 results. Compared to the prior year, Snap’s revenue increased to $679 million, up 52% from 2019. Its net loss decreased from $227 million to $200 million compared to last year. Daily active users increased 18% year-over-year to 249 million. Also, Snap’s stock price soared more than 22% in after-hours trading. Take that Facebook!
In a prepared statement, Chief Business Officer Jeremi Gorman said, “As brands and other organizations used this period of uncertainty as an opportunity to evaluate their advertising spend, we saw many brands look to align their marketing efforts with platforms who share their corporate values.” As in, hint, hint, Facebook’s summer boycott did positively affect their amazing Q3 results.
So, Snapchat and Pinterest have benefited from the #StopHateForProfit campaign. Snapchat’s results show promising optimism that maybe Pinterest might fare as well. But, of course, Facebook doesn’t think they will benefit much longer. Back in July, CEO Mark Zuckerberg told his employees, “[his] guess is that all these advertisers will be back on the platform soon enough.”
Facebook isn’t worried, but I guess we will see soon enough. Pinterest is set to report its Q3 results on October 28th and Facebook on the 29th.
Cooler temps mean restaurants have to get creative to survive
(BUSINESS MARKETING) In the midst of a pandemic and with winter approaching, restaurants are starting to find creative and sustainable ways to keep customers coming in… and warm.
Over the last decade we have seen a change in the approach to clientele experiences in the restaurant business. It’s no longer just about how good your food is, although that is still key. Now you have to give your customers an experience to remember. There are now restaurants that feed you in the dark, and others who require you to check all your clothes at the door. Each of these provides an experience to remember alongside food that ranges from good to exquisite, depending on your taste.
Now, however, the global pandemic has rearranged how we think about dining. We can no longer just shove people into a building and create a delectable meal. If you’ve relied mostly on people coming into your restaurant, you may struggle to survive now.
The new rules of keeping clients safe means setting things up outside is the easiest means of keeping large numbers of them from crowding inside. Because of this, weather has become a key influence in a company’s daily income. Tents that were a gimmick before, only needed by presumptuous millennials, are now a requirement to keep afloat. People are rushing to make their yards into lawns that bring some in some fancy feeling.
The ties to the sun in some areas are so strong that cloudy days have been shown to drop attendance as much as 14% for the day. This will become the more apparent the colder it gets. For me, I always mention hibernation weight in the winter, when all I want to do is curl up and eat at home. Down here in Texas we are already finding cooler weather, drops into the 70s even in August and September. We are all assuming a cold winter ahead. So, a bit of foresight is finding a means of keeping your guests warm for the winter ahead.
San Francisco restaurants have started with heat lamps during their cooler evenings. Fiberglass igloos have also been added to outdoor seating as a means of temperature control. A few places down in the Lonestar state keep roaring fires going for their outdoor activities. While others actually keep you running in between beverages by encouraging volleyball matches. This is the new future ahead of us, and being memorable is the way to go.
Healthcare during pandemic goes virtual, looks to stay that way
(BUSINESS NEWS) Employment-based health insurance has already been through the ringer with COVID-19, but company healthcare options are adapting for long term.
Changes in employment-based health insurance may end up costing employers more, but will provide crucial benefits to workers responding to the healthcare challenges presented by the COVID-19 pandemic.
According to a recent survey by the Business Group on Health, a member-driven advocacy organization that helps large employers navigate providing health insurance to their employees, businesses will increase access to telehealth, mental health resources, and on-site clinics in the upcoming year.
Besides the obvious impacts of the coronavirus itself, the effects of the COVID-19 pandemic have also rippled out to affect other aspects of public health and how we engage with medical care. With so many people staying home to reduce their in-person contacts, there has been a significant increase in the use of telehealth services such as virtual doctor’s visits. According to the survey from Business Group on Health, whose members include 74 Fortune 100 companies, more than half of large employers will offer more options for virtual healthcare in the upcoming year than in the past.
The pandemic, resulting economic fallout, and dramatic changes to our lives have inevitably exacerbated peoples’ anxieties and feelings of hopelessness. As we move into cold weather, with no end in sight to the need to socially distance, this promises to be a particularly dreary, lonely winter. Mental health support will be more necessary than ever. In 2019, 73% of large employers provided virtual mental health services. That number will increase to 91% next year, with 45% of large employers also expanding their mental health care provider networks, making it easier for employees to find the right the therapist or other mental health service provider, and making it easier to access those services from home, virtually.
In addition, there will be a 20% increase in employers offering virtual emotional well-being services. Altogether, 9 out of 10 of the employers surveyed will provide online mental health resources, which, besides virtual appointments, could also include apps, webinars, and educational videos.
There has also been a slight increase the availability of on-site clinics that provide coronavirus testing and other basic health services. This also included an expansion of resources for prenatal care, weight management, and chronic health problems such as diabetes and cardiovascular disease.
These improvement won’t come free of charge. While deductibles will remain about the same, premiums and out-of-pocket costs will increase about 5%. In most cases, employers will handle these costs, rather than passing them on to employees.
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