By Lindsey Wright*

With the flexibility of online coursework, it’s no wonder why so many students are choosing web-based education programs. Having the freedom to complete work on their own time allows students the opportunity to tend to their daily schedules of work and parenting. Thanks to online education, more individuals are able to get the education they need without compromising their financial or familial roles.

Moreover, there are no restrictions as to what university is chosen. This provides students with opportunity to communicate with others on a global level, allowing them to be exposed to different ideas and viewpoints. With these positive elements that go hand-in-hand with Web-based education programs, so it’s not surprising that enrollment levels are skyrocketing. This recent trend may sound promising, but will it create an atmosphere where the traditional college setting is less valued?

Better Opportunities Lead to More Productive Workers

Not only are educational courses evolving, but also are the methods in which education is obtained. Attending an online school used to be equal to the traditional classroom settings at brick-and-mortar schools, except students were given the opportunity to complete work at their own pace. However, now Web-based programs expand on the standard, teacher-centered classroom setting and welcome peer-based interactions online, as well as the exchange of information with others across the world.

Plymouth University is one of many schools that advocates for online learning. The university reports that the concrete skills acquired are not only useful in an online educational setting, but also in the professional world. For example, online courses prepare students to communicate with others through digital interaction, a necessary skill when dealing with both coworkers and clients.

Self-discipline is also a staple of online learning and relevant in modern-day work environments, as those who work from home or have Web-based jobs will know how to handle the demands of managing workloads. Due to the fact these same skills are not as well achieved from traditional classroom settings, workers fear there will be a gap between standard and online learning obtained by their employees.

Generation Gap between Workers

Fortunately, the majority of today’s classrooms are taking a virtual approach in addition to teacher-centered discussions. Students have the opportunity to interact with one another online, complete projects over the Internet and submit material using online interfaces. With these features in place, students obtaining an education today will be granted the same opportunities no matter what type of school they attend.

However, for those that have acquired their degrees in past years when Web-based programs were not yet offered, a generation gap will almost certainly manifest in professional contexts. Julie Chisholm, a lecturer at California State University, published an article on Academe Online that expressed both the pleasure and danger of online teaching and learning. Chisholm found that the viewpoints the instructors had toward online learning were based on their own career paths and where they were on the age-career spectrum.

In general, instructors who were younger and had recently completed online classes themselves were more in favor of online learning. These professors were also more likely to know how to use online programs and found many positive features in utilizing them. On the other hand, professors who were older and hadn’t completed online coursework were less in favor of online education. They lacked the skills required to operate online programs and didn’t have much personal incentive toward learning how to use these systems.

Is Online Learning Better?

A study conducted by East Carolina University looked at the difference between online education and traditional education to determine which was better. Although the study did not conclude that online learning was the better choice, students in the online programs did have improved grades and test scores. Thus while it isn’t clear whether one learning style is superior over the other, it does seem apparent that our changing educational system will impact how employees are regarded in the workplace.

Potential Problems in the Workplace

It’s expected that a generation gap will exist in the professional workplace between online and traditional education. The most common problems that employers will face are a division in the competency of their workers to be able to navigate the Internet and adjust to Web programs and protocol.

Furthermore, the confidence, speed and efficiency that students with online degrees will have under their belts, will make them much more competitive in the workplace. It is likely that these professionals will be able to develop new and innovative alternatives to managing and organizing company information. This knowledge could cause not only generation gaps within the workplace, but also increased negative competition, devalued feelings and an inequality across workers.

Most of the discussion has been in favor of an online education, but what about those that hold traditional degrees and their perspective on an online education? It’s possible that some employers will consider online degrees to be less credible than those from a standard, four-year university. Placing greater importance on this educational learning style will cause further rifts between coworkers.

For instance, workers who attended traditional schools may feel that they hold “real” degrees and went through the rigorous process of applying, being accepted and attending structured classes, making their education and experience more authentic. As such, employers must recognize the advantages to both traditional and online courses, giving each the respect they deserve. With this approach, coworkers will learn to value each other’s diverse backgrounds and be more inclined to look at the experience as a whole instead of how the education was obtained.

Bridging the Gap between Online and Traditional Education

With the potential problems that employers and employees face in the work setting, it’s crucial that online learning is not only understood and respected, but also anticipated. In his article “21^st Century Schools: Bridging the Gap Between Traditional and Digital Learning Resources,” Frank B. Withrow point out that the first step toward closing the gap is to ensure that all educational programs allow for modern-day technology. This gives all students the same opportunities, no matter what type of school they chose to attend. It also ensures that all students will be qualified for the same position and acquire equal knowledge and experience.

Yet the bigger dilemma lies in the generation gap that already exists with age, and now educational learning style. Since those who have already achieved their degree from a traditional classroom setting cannot go back in time, employers should provide workers with the option to refresh their skills by taking courses online. Giving all employees the same opportunities will close the gap between these two radically different learning styles, while making all workers feel competent, valued and worthy of promotion.

The addition of the Internet in contemporary society has forced people to not only rethink, but also change the world in which they live. Educational systems have modified their operations to fit the online, global world that exists today. However, for these advancements to be effective, the business world needs to follow suit. By offering workers the same opportunities regardless of their educational backgrounds, employers will be closing the gap between education systems, allowing all of their employees to reap the same benefits.

*Lindsey Wright is fascinated with the potential of emerging educational technologies, particularly the online school, to transform the landscape of learning. She writes about web-based learning, electronic and mobile learning, and the possible future of education.

Millennials are the first generation to be educated at a time when knowledge is both plentiful and accessible.

Educators are struggling to make the shift from a model that was intent on helping students acquire knowledge through a prescribed path (a path that had been tried and tested over centuries), to one where it’s not necessary to know the answers, only how to find them. Indeed, the key skills today are knowing how to discern credible sources from those that are less trustworthy.

The benefits of information democratization are undeniable. One only has to look at the DIY’ing of “elite” professional services (legal, health care, finance, academic etc.), to understand that free flowing information is a terrific thing.

At The London School of Business Finance, you can now get an MBA via Facebook. Over 30,000 students have already registered and 500,000 are expected to. Courses in accounting, corporate finance, ethics, marketing, and strategic planning are free, students only pay when they take a test. The total cost of the online MBA degree? About $23,000, an incredible value when measured against $80,000 or more for a traditional MBA degree.

In looking at the world in terms of knowing what one doesn’t have to know, something is also lost. We seem to be losing an appreciation for complexity and nuance.

Everything is Not a Data Point

Douglas Rushkoff observes in his book Program or Be Programmed, that “not everything is a data point.“ Rushkoff warns that “net research is more about engaging with data in order to dismiss it and move on – like a magazine one flips through not to read but to make sure there’s nothing has has to be read. Reading becomes a process of elimination rather than deep engagement. Life becomes about knowing how not to know what one doesn’t have to know.”

A Generation of Information Hunter Gatherers

We are becoming adept at scanning, looking for the nugget rather than context. But are we losing an appreciation for the deep understanding that comes from immersion in one discipline? Rushkoff believes this ‘surfer’ experience that substitutes impressions with real knowledge is especially true of Millennials:

“Young people, in particular, are developing the ability to get the gist of an entire area of study with just a moment of interaction with it. With a channel surfer’s skill, they are able to experience a book, movie, or even a scientific process almost intuitively. For them, hearing a few lines of T.S. Eliot, seeing one geometric proof, or looking at a picture of an African mask leave them with a real, albeit oversimplified, impression of the world from which it comes. This works especially well for areas of art and study that are ‘fractal’ or holographic in nature, where one tiny piece reflects the essence of the whole.”

As a professor, I have experienced this subtle shift over the past five years in the form of pressure to distill my classes to the essence of what is important. The photo above is of my brand building library. As I sit down to plan a syllabus or class, I look at this bookshelf and despair – how can I possibly encapsulate this body of knowledge into finite, digestible, byte-sized pieces? It’s overwhelming. Somehow I doubt the professors of 50 years ago felt the same way. But then they didn’t have competition from a Facebook app.

Textbooks are becoming shorter and more condensed, in response to students’ impatience with long pages of text. Irrationally, I have come to judge my own competency as a teacher by how efficiently I can convey the concepts and complexity of the marketing and brand strategy without making unreasonable demands upon students. Increasingly, I see my job as the explorer coming back from a distant land to convey as much of what I know as is humanly possible to the untravelled audience in just 28 sessions.

Critical Thinking at Risk

A new book, Academically Adrift, is about to be released that reports the results of a study of 2,322 college students at a range of institutions from 2005-2009. Researchers discovered nearly half of the students didn’t learn “the critical thinking, complex reasoning and written communication skills that are widely assumed to be at the core of a college education” during their first two years of college.

“Many of the students graduated without knowing how to sift fact from opinion, make a clear written argument or objectively review conflicting reports of a situation or event, according to New York University sociologist Richard Arum, lead author of the study. The students, for example, couldn’t determine the cause of an increase in neighborhood crime or how best to respond without being swayed by emotional testimony and political spin.”

Aside from the dismal overall finding, the specific findings of who did and didn’t learn are also telling:

“…The study also showed that students who studied alone made more significant gains in learning than those who studied in groups.”

“Students who majored in the traditional liberal arts — including the social sciences, humanities, natural sciences and mathematics — showed significantly greater gains over time than other students in critical thinking, complex reasoning and writing skills.

“Students majoring in business, education, social work and communications showed the least gains in learning.”

“Greater gains in liberal arts subjects are at least partly the result of faculty requiring higher levels of reading and writing, as well as students spending more time studying, the study’s authors found. Students who took courses heavy on both reading (more than 40 pages a week) and writing (more than 20 pages in a semester) showed higher rates of learning.”

These results should be a wake up call to those of us in higher ed. College is not about byte-sized learning, it is about mastery and mastery requires more attention than what is required by hunting and gathering facts, or even learning how to hunt and gather facts.

The world is complex and getting more so. We can’t settle for simplicity.

*Carol Phillips is the president and founder of the brand strategy consulting firm “Brand Amplitude.” She is also a Professor at the prestigious University of Notre Dame. Carol began her career as a market researcher and strategic planner at Leo Burnett. Later, as an Account Director, she led agency teams at four different agencies – Y&R, Leo Burnett, Mullen and JWT – for a variety of clients including Sprint, Nextel, Ameritech, Heinz, 7UP, and Philip Morris. She blogs at www.millennialmarketing.com.

By Carol Phillips*

Ask a teen how they are doing and they will nearly always answer ‘busy‘. For most teens, this is a true statement.  High school teens and college students alike are chronically tired and complain of stress.

How much of this round the clock activity and pressure is avoidable is different debate, one which has strong arguments on both sides of the fence.

An interesting series of essays among experts recently posited that some of the pressure, especially that due to homework and extracurricular activity, is unnecessary  (“Stress and the High School Student”, New York Times, 12.15.10).

Others, say stress from overscheduling is a s myth, and that the activities are confined to upper middle class ‘hurried children’ who benefit greatly from having so much structured time (“For Some Busy Kids It’s All Good“, Washington Post, 9.28.08)

Regardless of the reasons why or outcomes, stress is a reality of teen life, and an important point of context for those wishing to understand or communicate with Millennials.

Stress is an everyday reality, not just associated with periods of final exams or papers.  I had an opportunity to interact with several teens over the Christmas break. They all described their lives as filled with sports, homework, extracurricular activities, SAT prep, church group, theatre and more. They report staying up until 1 AM on a regular basis, and having little time for watching television.

A Generation of Sleep Deprived Walking Zombies?

In his book, Hurt: Inside the World of Today’s Teenagers, Chap Clark describes the teens he met during his research as “observably tired, some to the point of near exhaustion“. (p 137)

“Instead of being a general laziness or a semi-bored listlessness (both of which have long been associated with this age), the tired I observed was like what I feel after stayig up most of the night due to a deloayed flight. Many students experience this zombie-like feeling on a daily basis. When I asked why they were so tired eh answers ranged from homework to work to a late practice….The busyness, fragmentation and stress level adolescents experience are relatively new, and they are increasing.”

Clark’s observations are supported by data from the National Sleep Foundation. “Teens tend to have irregular sleep patterns across the week — they typically stay up late and sleep in late on the weekends, which can affect their biological clocks and hurt the quality of their sleep. ” One study found only 15% of teens reported sleeping 8 1/2 hours on school nights. As a result “many teens suffer from treatable sleep disorders, such as narcolepsy, insomnia, restless legs syndrome or sleep apnea.”

Why the Worried Look?

An NSF poll tied lack of sleep to worry, not just overscheduling.  Most adolescents were likely to say they worried about things too much (58%) and/or felt stressed out/anxious (56%). Many of the adolescents surveyed also reported feeling hopeless about the future, or feeling unhappy, sad or depressed.

Chap Clark describes three areas of stress that take their toll on most students: “the pressure to succeed, the pressure to maintain stability at home while remaining loyal and connected to the peer group and the general pressure associated with relationships.” Of these, the pressure to succeed appears to be the most relentless..

“The pressure to succeed, whether in the classroom, on the athletic field, or in an endeavor that creates a sense of worth and accomplishment, represents an delusive, never quite good enough sense that students wear like a cloud. When students do something well, they believe it is only a step in the direction of adequate performance. I encountered few students who allowed themselves to do their best in a given arean and then let the chips fall where they may.”

An Uncertain Future

The performance stress high school students experience seems to accelerate in college.  Last month, we completed a series of in-depth interviews among college age students to learn more about how they think about the relationship of post-secondary education to their ultimate career goals. What we heard surprised us. They are sure that the relationship between a traditional college education and a ‘better life’ is no longer as strong as it was in the past. This makes the high cost of college, both in time and money, feel like an uncertain investment and is a great source of anxiety, both for them and their parents. Many parents are even pulling back their support, leading to further stress.

Stress Takes A Toll

For marketers, understanding the rising anxiety level of Millennials can provide a needed context for major and minor purchase decisions alike. Time savers, efficiency tools and programs that reduce life’s uncertainties will meet a ready audience. They especially need help developing a clear vision of what their adult lives will be like and how to achieve it. This ultimately may be the key to winning the hearts and minds of a stressed out generation of sleep-deprived young adults.

*Carol Phillips is the president and founder of the brand strategy consulting firm “Brand Amplitude.” She is also a Professor at the prestigious University of Notre Dame. Carol began her career as a market researcher and strategic planner at Leo Burnett. Later, as an Account Director, she led agency teams at four different agencies – Y&R, Leo Burnett, Mullen and JWT – for a variety of clients including Sprint, Nextel, Ameritech, Heinz, 7UP, and Philip Morris. She blogs at www.millennialmarketing.com.

By Carol Phillips*

“Oh man, I’d make a career out of the Muppets if I could. That’s my real dream job…” — Jason Potteiger, comment on The Next Great Generation Blog

When the Founding Fathers wrote “life, liberty and the pursuit of happiness” I think they must have had Millennials in mind. For the framers, ‘happiness’ meant the freedom to pursue prosperity and wealth as each individual saw fit.  Millennials are turning the pursuit of happiness into their life goal. Their biggest fear is having to sell out or trade off their passions for an ordinary job, an ordinary life.

Millennials seek to be extraordinary, or to use their word for it, “awesome”, in every area of their lives, but especially their careers.

Of course, every generation strives to be great. What makes this generation different is the intensity of their commitment. Chip Walker describes their aspirations this way an article last year:

“In a world of almost infinite lifestyle choices, Gen-Y activism is about young people knowing their own inner priorities and making a vow to live by them — even in the face of adversity.” — Chip Walker, Head of Planning, Strawberry Frog

When the New York Times wrote about unemployed Millennial, Scott Nicholson, turning down a $40,000 a year job in insurance because it didn’t meet his idea of a fulfilling job, Gen Y’ers understood. They saw nothing wrong with having high standards and admired Nicholson’s willingness to wait for the right opportunity.

Nicholson’s choice, and those of many others, suggest Millennials are looking for more out of work than just a job. They are looking for a place they can grow, and where their work will have meaning. Little surprise that the Great Place to Work Institute Survey identified Google, EBay, Starbucks, Container Store, ScottTrade, UMPQUA Bank, and CarMax as among the top 25 companies that people under 25 give exceptionally high marks. (For more on what makes these companies “Millennial Magnets”, read Neil Howe’s article, “Models for Managing Millennials“).

MindValley is a publishing company with a Millennial heart.

The company describes its mission as “to bring together marketing and technology to help spread enlightened ideas. We work with authors, thinkers, teachers and leaders who have pioneered new ways of doing traditional things: parenting, entrepreneurship, spiritual growth, self-development and more.” Here’s how the web site describes their attitude toward work:

“J-O-B is a dirty word. Work—we believe—needs to be fun, educational and something that makes you so excited that you jump out of bed each morning. Screw the traditional 9-5 job. Instead, get paid to play, create, learn and grow. It’s like being a child again. But with a salary.” MindValley Career page

Employees come from 22 countries and show an impressive diversity of backgrounds. MindValley has an award winning culture and who wouldn’t love their policy of flying all employees and their families to a paradise setting each year? Last year it was Bali, this year Costa Rica. I was especially impressed by MindValley’s recruiting video, titled “Is Happiness the New Productivity?“. These are REALLY happy employees! (This video is worth watching if you want to see what happy Gen Y employees look and sound like.)

Alex Cattoni is one of MindValley’s 35 employees. On the TNGG blog, she describes herself as “Personal development junkie. Marketing diva. Thrill-seeker.” A 2007 business school grad, she was headed to law school when “… like a cold hard slap in the face, I woke up one morning completely and utterly terrified. I had finally listened to that voice in my head telling me law school was not for me. I then had to ask myself probably the scariest question of all “What do I REALLY want in life?””

For Cattoni the answer was a hard shift that brought her to a dream job that involves a lot of travel, managing four businesses and launching a fifth. When asked what is most inspiring about her job, she said it was the company’s drive to think big:

“I would have to say it’s been witnessing my team achieve some incredibly outrageous and scary goals. We like to think BIG. In fact, this is the top value on our “Code of Awesomeness.” In the past 1 year alone, we have grown an outrageous amount – all because we dare to dream big. I love being part of a team that believes we can achieve anything and pulls together to make it so.” – Alex Cattoni, MindValley employee

Not all companies are as Millennial-friendly as MindValley. Increasingly, Millennials are sensing that they will have a better chance of pursuing their passions by entrepreneuring or intrapreneuring their way to jobs they love.

An October 2010 Junior Achievement survey of high school students asked why they admired entrepreneurs like Steve Jobs and Oprah Winfrey. The top answer was their ability to make a difference in people’s lives (31%). Their reasons for wanting to be an entrepreneur, however, focused on independence – working for yourself and controlling your destiny.

If you are a Millennial looking for entrepreneurial inspiration, check out Shatterbox.com. The site features dozens of video stories of “innovative young people who love what they do.”  The common thread in each of these videos is a profound desire to do something that reflects their individual passions. Here’s just a sample:

“So I decided to start my own company to deal with it… and it just became my passion.”– Emily Doubilet, Oberlin graduate, founder Sustainable Party

“It was extremely exciting because it was so interactive. That was something I really fell in love with. I got really excited about bringing a craft that seemed so dusty to new life.”   — Nora Abousteit, Harvard graduate,  founder of social network sewing site, Burdastyle.com

In the last year, I have had the pleasure of working with many young people who have a vision for a new company. They include Matt Cheuvront (Proof Branding), Mark Sawyier (Off Campus Media), Sam Davidson (Cool People Care), and Jon Levin (ClearPoint Communications).

Mark Sawyier started Off Campus Media and its sister company, Moving Off Campus,  in the noble tradition of the ‘dorm room start up’ while studying at Washington University. Today, OCM has 5 full-time employees, an admirable client list, a network of campus ambassadors on 18 college campuses and is looking for office space in New York City. The company does great work helping local and national businesses connect with college students. Starting this month, my firm, Brand Amplitude, is partnering with OCM on a project for one of our clients.

Are they happy? I would venture the Founding Founders would approve.

More research on Gen Y and Job Expectations

Meet the Millennials: Our Most Educated Generation Faces a Most Challenging Time Seattle Times article profiles 11 Millennials who are looking for work as well as provides statistics on Millennial (un)employment

Seeing Eye to Eye… or Not? Research by Citrix on how Gen Y Views work meetings.

Millennials Have Their Own Take on Ethics in the Workplace Research by ERC Shows Millennials Share Interest in Fairness and Respect With Older Co-Workers; Concerns on Privacy and Calling in Sick? Not So Much.

*Carol Phillips is the president and founder of the brand strategy consulting firm “Brand Amplitude.” She is also a Professor at the prestigious University of Notre Dame. Carol began her career as a market researcher and strategic planner at Leo Burnett. Later, as an Account Director, she led agency teams at four different agencies – Y&R, Leo Burnett, Mullen and JWT – for a variety of clients including Sprint, Nextel, Ameritech, Heinz, 7UP, and Philip Morris. She blogs at www.millennialmarketing.com.

“Millennials Won’t Change Work; Work Will Change Millennials” is the title of a recent article of Andrew McAfee in Harvard Business Review. This started a lively discussion and I want to share our command to this issue.

Last 10 years our PhD and complementary research was focused on the impact of new generations on the organizational culture in Dutch companies. Desk research – studies of generation literature of the last two centuries – taught us that we create generations for one survival reason only: to stimulate the evolution of social systems, such as companies.

Research in approximately one hundred Dutch companies found that the Pragmatic Generation (1970-1985) lost working energy and enthusiasm when they were ‘forced’, by the older generations, to cope with ways of working which they instinctively considered to be old-fashioned. The focus of this specific generation is on speeding up learning processes while working, and restyling other conducts such as decision-making.

However, during the last decennium the Pragmatics adapted almost entirely to old-fashioned and ‘slow’ processes. Against their will. But …. also against the will of the older generations. The reason for this phenomenon is still indeterminate. We are on our way to unravel this mystery.

Will the Dutch Generation Y (1985-2000), also called Generation Einstein or Screenagers, adapt to ongoing organizational habits, which they consider to be out-of-date, swift and smarmy as well? This is still a big uncertainty. Anyhow, we don’t think they will. There are three reasons for this belief. First: not one new generation in history has ever received so much attention as this one. Therefore the older generations know relatively much about them. Second: we experienced, while working with some groups belonging to this generation, that they are open towards other generations even though they have a strong tendency to stay authentic in everything that they do. Third: in many companies there is a growing awareness and need to innovate, especially through social innovation. They are curious for ‘generation stuff’ and are willing to explore its possibilities.

But … innovating organizational processes and culture can only happen when the older generations open up for this movement and actively support these youngsters.

If Andrew McFee meets companies where the impact of Generation Y is minimal, we advise him to ring the alarm. We advise him to ring it very loudly, since these companies are getting exceptionally outdated. Doesn’t this seem to be obtuse and even suicidal in these times of crisis?!

*Aart Bontekoning is an organizational psychologist: he supports the process during strategic, policy and organizational (cultural) development. He is the supervisor of workshops on management methodology and is also an investigator of organizational culture. At about 2000 he started promotion research on generation influences and development of organizations. Marieke Grondstra is a Junior Advisor at Berckeley Square, also studying about generations with Bontekoning.

By Blake Sunshine*

The hardest part about growing up is figuring out what you want. For a lot of Gen-Y’s this means deciding what to do after graduation. But even years after graduation, the journey of knowing what you want never seems to end. Figuring out what you want is hard, but it becomes so much easier if you allow yourself to be honest about your journey.

When the Lakers won the final game of the NBA championship, Ron Artest thanked his doctor and his psychiatrist. “Thank you so much,” Artest said, “There’s so much commotion going in the playoffs. She helped me relax.”

The whole world knows how difficult Artest’s journey has been. He has battled with alcoholism and with anger issues and I’m sure there was a time where he wondered if basketball was really giving him what he wanted from life. But Artest carried on and was beyond honest with the world that night, letting everyone know about his time in therapy and how his life has changed since the “Malice at the Palace.”

“I think the public is learning more about this because athletes like Ron Artest are brave enough to come forward and say this person really helped me and I want to thank him,” said Dr. Nicole Miller.

Well I want to thank Ron Artest, because he has helped me on my journey too and taught me a few things along the way:

1. Know that you have nothing to be ashamed of – Artest has never been ashamed of his past and you could see it in his game that night.
2. Know that things can always change- It’s never too late to change the path you are on. Making honest changes to who you are can be difficult, but the effort is always worth it.
3. Prove you know yourself best- You always have and always will know yourself and your journey better than anyone else.

Ron Artest has been honest about his journey from the beginning, and now he has an NBA championship.

How can you be more honest in your journey?  What will you become a champion of?

Read the original post at: Generation Y Journey.

*Blake Sunshine is just a regular girl living in Austin, Texas, blogging and working in social media for National Instruments. A year ago Blake graduated from the University of Texas in Austin with a degree in public relations and is now chief-blogger for The Perennial Millennial -  a blog about things that are interesting and make Blake happy: Social media, blogging, public relations, millennials, queso, innovation and football. She blogs at http://www.blakesunshine.com

By Carol Phillips*

At over 80 million strong, Millennials are a consumer market force today and will be even more important in the future. According to Alloy Media, the college market alone is made up of a record 16 million young adults with collective economic power of over $300 billion, $69 billion of which is discretionary. Yet economic clout is only the most rudimentary reason marketers should be paying attention to this cohort.  Young adults today have greater influence on consumer behavior than their enormous spending power even suggests.

The main reason Millennials matter to marketers is that they indicate future trends to a greater degree than young adults in the past. Here are a few reasons why:

• Technology proficiency has empowered Millennials to weild a disproportionate influence on the culture and on the buying decisions of other generations.
• Millennials are the first to put new technologies to use to make the most of their media time.
• Gen Y’ers are less impulsive shoppers. They place a priority on experiences rather than possessions, and are more likely to make every purchase a considered one.
• Gen Y’ers also display a distinct generational “personality” when it comes to responding to marketing programs and messages. Consequently, push marketing is on its way out, the new marketing is all about engagement, and much of the shift is due to Millennials.
• Finally, Gen Y cares more about the company behind the products they buy and the places they work. Corporate branding and brand architecture are more important than they have been in the past.

Here are a few of the Millennials trends I have been seeing lately.  I wonder how many will move mainstream?

1. TV is escaping the home. Many Millennials are talking about cancelling their cable subscription in favor of seeing shows via their Internet connection or on their mobile devices.

2. Nostalgia is Cool. Maybe it started with Toy Story 3 but Millennials are reconnecting with their childhoods.

3. Facebook Fatigue. Facebook fatigue has begun, or perhaps there are just better options now for connecting with friends. Long live text! (Until something better comes along).

4. Byte Sized: Posts are shorter. Texts are shorter. No one reads to the end.

5. Who Needs a Car? Many are forgoing a car in favor of less expensive and more environmentally conscious transportation.

6. Let’s Be Spontaneous! Last minute travel. Last minute dining. Who needs to plan? Text me!

What are you seeing? What trends are hot? What else is about to jump the shark?

*Carol Phillips is the president and founder of the brand strategy consulting firm “Brand Amplitude.” She is also a Professor at the prestigious University of Notre Dame. Carol began her career as a market researcher and strategic planner at Leo Burnett. Later, as an Account Director, she led agency teams at four different agencies – Y&R, Leo Burnett, Mullen and JWT – for a variety of clients including Sprint, Nextel, Ameritech, Heinz, 7UP, and Philip Morris. She blogs at www.millennialmarketing.com.

By Carol Phillips*

Financial services are waking up to the potential of Gen Y consumers. Millennials may not have a lot of money now, but they are determined to pay down their debt and conserve resources for the future.  Coming of age in an era of massive financial uncertainty, they may even come to be known as “Gen Frugal”.

That’s good news for community banks and credit unions which are all about helping moderate income people responsibly manage their own money.

Last week I was interviewed by Myriam DiGiovanni of the Credit Union Times.  She wrote an article titled “Forget the Cool Factor, Focus on Millennials’ Needs” based on our talk. Here the full article (bold face mine):

Looking to engage meaningfully with younger consumers? Then stop assuming and start connecting through a common interest rather than trying to sell credit unions. “I think the main difference in marketing to Millennials and other generations is that they have great filters–they only see what they want to see. If you want to engage them, the message can’t be about brand but rather something they care about,” said Carol Phillips, president of consulting firm, Brand Amplitude, LLC. “It’s not about being hip but providing services they find useful now, like finding a job, figuring out how to finance their education or new business. They are starting out their lives at a difficult time and credit unions should credibly speak to that.”

She added that credit unions shouldn’t fall for the stereotypical myths surrounding this group such as they are all tech savvy–they are in fact tech dependent. Another myth is that they have money–many don’t and those that do are in saving mode or paying down debt said Phillips.

Forget about making the luxury appeal. When pricier purchases are made they tend to rationalize it based on whether it’s a good investment. According to Philips, for example, moving in with their parents is not viewed as an admission of defeat. Rather they see it as a strategy for saving.

Don’t look to the exclusive use of social media as a guaranteed in either. While they are very social, Millennials have close bonds with their parents, often consulting them regarding financial matters or major life decisions. Phillips said it’s yet another challenge because typically you’d market to the buying group, which in this case would include their trusted board of advisors consisting of parents, family members and friends. The key is for credit union to reach out and be a part of their world, and Phillips said initiating a conversation is a good start. Given the age span of the group is from 16 to 30 years old, she also advised credit unions to segment by interests. From there, credit unions can figure out how to connect in interesting ways whether around careers, music, causes or even sponsoring events that matter to them rather than talking about the latest checking product.

“Meaningful connecting requires recognizing that they are not the same as their parents. They do not respond to marketing, and that is the definition of different,” said Phillips. “Take time to understand who they are as people and introduce your services in context of what is relevant to them. Social media is about a humanization of the brand but is still just a tool [and] not a strategy. So be interesting, have a conversation.”

She added their values are no different than previous generations-they care about family, leading a good life, finding a fulfilling job and they want to give back.

One bank that seems to be getting it right with young adults is UMPQUA, a fast growing regional community bank in California, Oregon and Washington.

Their web site looks more like an ecommerce site than a traditional bank and they call their branches ‘stores’.  The language is plain English and yet stylish. The checking account featured on the home page is called HIP( for High Interest Paperless Checking) and offers 2% APR on  deposits and returns ATM fees. Nothing tricky about that!  News is broken out locally and is called ‘murmurs’. There are quick links to ‘deals and steals’, ‘reorder checks and supplies’ and ‘attend a neighborhood event’.  The navigation is straightforward as well and feels like you could do everything you need to do from opening an account to managing it to taking a loan, right from the web. There are spam alerts and interesting discussions. The site is very sticky and feels quite local, despite being spread across three states.

The short, awareness-oriented TV spots featured on the home page are cheerful, and perky, and not very ‘bank-like’ — “Bank on the Bright Side“, “Optimists Unite“, “Pursue Hopefulness“,  ”You deposit your check in the Northwest economy, like a gentle rain in a garden of courage“, “Optimists are just realists ahead of their time“.  The graphics and the voice over work together to create a hopeful feeling. I feel better just listening to them!

The part of the website I like best is under the tab heading ‘UMPQUA Life”. The sub categories speak directly to Millennial lives – Support, Belong, Discover, Inspire. The sub-subcategories  further emphasize local charitable and volunteer opportunities, neighborhood events and community responsibility. There are links to social media like Twitter, but they are discreet. The site itself  already feels like a social media site.  Even the history page is fun, with just the right information about the banks’ origins with emphasis on what it is doing in the community with music, eco-friendly programs and being included in Fortune’s Best companies to work for.

It should be noted that UMPQUA’s products are not all that special.  But, they are presented in a relevant and very accessible way that speaks directly to the Millennial mindset.

I suspect UMPQUA has been successful in attracting a higher than usual percentage of young adults and people who want banking to be less stuffy and more a seamless part of their lives. Other banks and credit unions could learn from their example.

*Carol Phillips is the president and founder of the brand strategy consulting firm “Brand Amplitude.” She is also a Professor at the prestigious University of Notre Dame. Carol began her career as a market researcher and strategic planner at Leo Burnett. Later, as an Account Director, she led agency teams at four different agencies – Y&R, Leo Burnett, Mullen and JWT – for a variety of clients including Sprint, Nextel, Ameritech, Heinz, 7UP, and Philip Morris. She blogs at www.millennialmarketing.com.

By Carol Phillips*

The Internet is a modern day three ring circus: there’s something cool going on everywhere you look. According to Comscore, 45% of all page transitions are ‘link following’. Every web page offers multiple enticements to move on. To create interest, you must say something worth staying with, in other words ‘relevant’.

Keeping Gen Y’s attention in an environment defined by distraction requires being ‘interesting’.

Gen Y blogger, Meg Roberts, wrote an article titled “How I would market to myself’ in which she offers this advice:

“Focus on adding value rather than overloading on content. The best way to ensure we’re listening to your messages is to make them relevant to us.  Learn why we’re in a given community, whether it’s Facebook or Twitter or an iPhone app, and speak to us without severely interrupting what we’re doing .”

Note the words “without severely interrupting”. When creating messages for Millennials, it’s important to ask whether or not the message meet the test of whether it’s worth interrupting.

If a friend wouldn’t interrupt than a marketer shouldn’t either.

For Millennials, interruptions are the height of rudeness. There is a hierarchy of communications. A phone call is highly interruptive – and it’s little wonder that Millennials make very few phone calls. Phone calls are reserved for very important conversations, like telling your parents you need money or will be traveling to Puerto Rico rather than home for spring break. For less moments communications, which is to say most communications, they rely on texts.  A teen sends hundreds of texts a day. Texts are less intrusive than phone calls and yet still has urgency. Email is even less intrusive than texts. Email is used when a message is not time sensitive or does not require an immediate response.

Is it Relevant, Cool or Exciting?

Another test for relevance is whether a communication is ‘status update worthy’. As Gen y marketer and community member, Josip Petrusa, puts it this way:

“One thing we love to do is tell the world when something cool, great or exciting is happening to us. In a sense, we love to brag for attention. You’ll always hear about the vacation we’re going on, the sports event we’re going to, the movie we’re seeing, the concert we were at and I could go on and on. Make it something that will give me a reason to tell everyone else about it. A funny and ridiculous video-clip, a great experience or something that even seems exclusive, would all be status update worthy.” You have to reinvent cool, great and exciting.”

What’s In It for Me?

There is a myth that Millennials don’t like advertising. Actually this isn’t true. They like ads that are entertaining or funny, especially for brands they already love. They love the iPad, Axe and current Kindle ads.  These are ads that give back something in return for attention.

The Associated Press (AP), a group with a vested interest in Millennials’ interest in news and ads, released a study in March that looked at ‘news ad fatigue’.  The study took an in-depth, ethnographic approach that focused especially on people 18-34. The research concluded that consumers are “tired, even annoyed, by the current experience of advertising,” and that, as a result, “they don’t trust very much of it“.

Younger consumers, ages 18-34, want to be in the know, and two thirds think it’s important to be among the first to hear news compared with just 10 % of older people. Millennial consumption of news is actually increasing. According to  McKinsey the average person consumes 72 minutes of news a day, compared with just 60 minutes in 2006 and the increase was driven almost entirely by people under the age of 35.

Young adults have adopted ways of getting their news that are much different from those of past generations. Younger consumers are not only less reliant on the newspaper to get their news; they also consume news across a multitude of platforms and sources, all day, constantly. They also think of each other as their main news source.

Here’s a description of how “Mark”, a 28-year old manager of an online travel agency consumes media.

“Mark’s news cycle was continuous and he spent up to six hours a day searching for and receiving information. Mark was on the Internet most of the day and used that time to keep up to date on news coverage and sports-related information. Mark liked his news to be “punchy” and pointfocused. He read the headlines followed up online to “find out what’s happening” with stories that he wanted to track. Mark’s news consumption was related to other activities that he was engaged in and although he was actively consuming the news, it was almost always in tandem with other activities such as driving or working…

You may be surprised to learn,  that brands do not do all that well in social media among Millennials. Only 12% have ‘friended ‘ a brand on Facebook. Only four brands on Facebook have more than five million ‘liking’ – only 16 have more than 1.5 million.  22% of Millennial use Twitter, a small number to begin with, but of those, only 29% follow companies.  Friending a brand is a high hurdle. In terms of Facebook fans, the numbers are even lower. Just 2 brands have more than 5 million fans on Facebook, Starbucks and Coca-cola.

So what do they find relevant?

It will probably come as no surprise that the main reason to join a fan group on Twitter or Facebook is to get news or discounts. Here according to a Pace University study are the top reasons to fan a brand on Facebook:

• Getting news or product updates (67%)
• Having access to promotions (64%)
• Viewing or downloading music or videos (41%)
• Submitting opinions (36%)
• Connecting with other consumers (33%)

Meg Roberts concurs. Her blog post, “How I would Market to Myself”, goes on to offer this advice about  ’free stuff’ and interacting with her favorite brands.

“We’re just out of college.  Loan payments are becoming a harsh reality.  If you want us to try out your brand, give us some free samples or coupon codes.  Plus, if a company could build an entire online community based on the loyalty rewards system, I’d probably check it out to see what other users are saying about new products/sales/coupons/etc.”

“Don’t use social media as a billboard but as a telephone. Social media should be an interactive tool, and when your consumers speak, listen and respond. In my experience, the most successful Twitter accounts and Facebook fan pages are those that go beyond simple @replies and wall posts. Ask questions, get our feedback, and implement changes. Everyone likes to have their ego stroked, right? Brand consumers, especially Gen Y ones, are no different. What feels better than having a company listen to reasonable, quality recommendations we’ve made?”

*Carol Phillips is the president and founder of the brand strategy consulting firm “Brand Amplitude.” She is also a Professor at the prestigious University of Notre Dame. Carol began her career as a market researcher and strategic planner at Leo Burnett. Later, as an Account Director, she led agency teams at four different agencies – Y&R, Leo Burnett, Mullen and JWT – for a variety of clients including Sprint, Nextel, Ameritech, Heinz, 7UP, and Philip Morris. She blogs at www.millennialmarketing.com.

By Carol Phillips*

Nearly 20 years ago, William Strauss and Neil Howe wrote a book that theorized a 22 year generational cycle based on repeating generational archetypes called simply “Generations“. They called these cycles ‘turnings’. Children raised during a particular Turning share similar historical and cultural experiences, which results in their being like each other, and different from other generations. This was to my knowledge the first appearance of the word ‘Millennials’.

A chapter that begins on page 335 of 427 (paperback version not including Appendices and Sources), is titled “Millennial Generation”.

What makes this chapter on Millennials so fascinating twenty years after it was written is how uncannily it matches what we know to be true of how Gen Y is different from preceding generations.

Part of the reason for its accuracy is that the demographics of this generation were fairly predictable, even in 1991, and demographics are one of the forces that shapes generations. Strauss and Howe were able to accurately project the likely size (76 million) and make up (12% immigrant) based on fertility and immigration trends, even though only 33 million of them were alive when the book was published.

The authors were also tuned-in to the major shift in parenting and education as a cultural priority that was already underway by the early 90’s. This shift would prove to have a remarkable impact on Millennial self-perceptions, aspirations and values. Nearly twenty years ago they noted that “this new generation of children is being treated as precious” and “Boom parents and teachers have also been slowing down the childhood development clock — unlike the Silent, who sped it up.”

“First-wave Millennials are riding a powerful crest of protective concern, dating back to he early 1980s, over the American childhood environment. In1981, the year before the “Class of 2000″ was born, a volley of books assaulted adult mistreatment of children through the 13er (Gen X) birth years. Within the next couple of years, other authors began reconsidering the human consequences of divorce, latchkey households, and value neutral education.

In 1984, two kids as devils movies flopped at the box office, marketing the end of a dying genre and the start of a more positive film depiction of children.

From 1986 to 1988, polls reported a tripling in the popularity of ’staying home with family’….In general, Boomer parents are determined to set an unerringly wholesome environment for their Millennial tots.

Where Silent parents had brought 13erkids along to see $-rated movies made about them, Boomers take the Millennials to see G-rated movies made for them.””

“From 1976 through 1988 the proportion of students held back in elementary school jumped by one-third.”

One of the central tenets of the book is that the fourth generation in each cycle, the “Fourth Turning”, tends to be more civically minded and engaged. They look for signs that yesterday’s fourth graders might be more evolved as citizens and found it in Anna Quindlen’s observations that kids seemed to be “assimiliating society’s ’shalt nots’ about crime, drugs, polution and education with disquieting energy and unanimity.” (page 341) Twenty years later, we know from the research that today’s young adults are much more ‘upright’ than earlier generations in terms of their overall optimism, attitudes toward the environment and social action and behavior regarding drug and alcohol use, teen pregnancy, and crime.

What Howe and Strauss could not have known in 1991 was the remarkable impact that technology and the most severe economic recession in over 60 years would play in shaping this generation.

Beyond demographics, two of the forces that are shaping up to be the most influential are easy access to information of all kinds and a realization that America’s high flying lifestyle is most likely unsustainable. They have already resulted in a more empowered, yet sobered, generation that is exhibiting very different consumer and media behavior as they move into their prime earning years.

BrandAmplitude’s latest ebook (“ How Millennials Are Different“) is focused on spotlighting the ways that Millennials are different from generations that came before at the same age. The book, which zeroes in specifically on longitudinal data from Pew Research and other sources, shows Gen Y is different in many significant ways, only some of which were predictable in 1991.

Nevertheless, what Strauss and Howe foresaw about how Millennials would be different from preceding generations based simply on cultural and demographic trends, they got remarkably right.

*Carol Phillips is the president and founder of the brand strategy consulting firm “Brand Amplitude.” She is also a Professor at the prestigious University of Notre Dame. Carol began her career as a market researcher and strategic planner at Leo Burnett. Later, as an Account Director, she led agency teams at four different agencies – Y&R, Leo Burnett, Mullen and JWT – for a variety of clients including Sprint, Nextel, Ameritech, Heinz, 7UP, and Philip Morris. She blogs at www.millennialmarketing.com.