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Talking to the young and restless
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11:32 AM //
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Here’s a little number crunching exercise for you. According to industry estimates, every third person in any city in India is aged between 18 and 21. India is set to be the world’s youngest country in the year 2020, with 64% of its population being within the working age group. In seven years, the median individual in India will be 29 years old, making India the youngest country in the world.
Considering these statistics — and using resources that are easily accessible to youth — can you calculate the possible traction and the number of possibilities for brands to reach out to this new mass majority?
Brands are increasingly realizing that youth are the driving force of the country’s economy, more so if they keep up with their spending patterns and constant thirst for better, improved products and experiences.
But how can brands better connect with a young audience that’s spoilt for choice, and has everything available at their fingertips? “If we can embed ourselves in their ecosystem, there are more chances of reaching out to them,” suggests Aditya Swamy, EVP and Business Head of MTV. “Earlier, it was a bull’s eye formula — aim and target. Now, it’s like a machine gun, where you’ve got to fire all around the target board, to ensure that they get the point.”
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Key challenges for youth-centric brands
Firing around the target board may sound like the ideal foolproof plan. However, there are certain key challenges that brands need to surpass, before even beginning to design their core marketing strategy. Rameet Arora, Senior Director Marketing, Corporate Communication, Menu Management at McDonald’s India, HRPL, lists these as follows:
Does your brand offer good price as well as convenience? “Youth tend to expect a lot and at arm’s length, especially in terms of convenience and affordability.”
Are you preaching or being direct? “They don’t wait to listen to what you have to say, as they have access to so much information. They are also actually choosing to whom they should listen to, which changes the paradigm a lot.”
Are you as ‘globally aware’ as they are? “They are global citizens which makes them one step ahead of you always in their levels of awareness, knowledge, and interaction with the categories in which your brand exists. In a way, such consumers create opportunities too.”
To conquer all three, experts suggest these strategies for brands who want to be in the youth’s circle of attention.Continue reading →
To conquer all three, experts suggest these strategies for brands who want to be in the youth’s circle of attention. - See more at: http://www.impactonnet.com/Talking-to-the-young-and-restless#sthash.wUKKFmls.dpuf
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