15 September 2011

Digital Branding to GEN next

The consumption of media has evolved over the past two decades with the onset of World Wide Web: people now preferred to read news online, download music from web has pushed CDs/DVDs market down and operate their financial transactions online. People communicate with friends and family over the Facebook, Skype or chatting instead of picking up the phone. Technological advancement will surely drive more changes in near future. Today’s teenager or younger, as they grow up to be paying consumers more tech-savvy and demanding more speedy and action oriented services. Their preferences will affect how information is consumed and paid for.

The research found 11 key trends in today’s teenager:
  • Print media and radio are in crisis
  • Internet is all pervasive and convergence is here
  • Teenagers are mobile centric
  • They do not use email much
  • Those in developed market are more cautious on spending
  • They do not want to pay and they hate advertisements
  • Gender stereotypes are reinforced in media consuming habits
  • The younger generation is time constrained
  • The world is indeed flat
  • They trust their parents the most
  • They care about the environment
Internet has had a major effect on media consumption, the consumption media has been evolving especially since the advent of the internet. Being a brand manager’s one should take this point into considerations while writing story board for upcoming brands.

Generation next will drive the second change. Today’s teenagers will be tomorrow’s paying consumers as they start earnings. Their habits, attitude, preferences will have a profound effect on how media is consumed and paid for. This generation without doubts are the major driving forces to change brand consumption and brand engagement. They are technologically more literate and are the forefront of the on-going digital revolutions. As gen next will change as they grow older (wiser) and start their work life, their present behaviors are strong indicators how things could evolve over the next 10 years. The world is becoming flatter and globalized, their remains strong socio-cultural and political difference between countries and genders (a risk of stereotyping?) that shape behaviors and attitude, which are reflected in the consumption of media, preferences for BRANDS.

It’s so difficult to say what might survive and what might not in this rat race. Trust is supremely subjective. Let see how brands react to trust factor, Digitally.