At RPY we understand the Millennial consumer, not only because we have conducted extensive research into this generation but also because our RPY team is formed primarily of Millennials.
We appreciate that today’s Millennial generation expect so much more from brands. We live in an environment today where brand experiences need to be tailored more to each individuals needs and wants. With this increase in expectations for a more personalized brand experience, Brand’s need to carefully look at their current marketing and branding communications and adapt to this changing brand landscape.
RPY can provide insights that can help develop a tailored brand positioning and help increase engagement with this youth audience.
Red Peak launched Y-Value Analytics to help brands quantify their relationship with Millennials.
We first set out to understand what makes a brand successful with Millennials surveying 6,000 18-34 year olds to find out — what really drives purchase intent? What drives loyalty? Love? Which of the many myths and stereotypes about Millennials are true, if any?
To uncover these answers we put a wide variety of brand attributes and statements into testing. After testing, 30 statements emerged as the most highly correlated to purchase consideration and loyalty specifically for Millennials. These 30 statements also naturally clustered around 6 values; Altruism, User Centrism, Ingenuity, Participation, Personality and Design.
Armed with our 6 proven values, we created Y-Value Analytics. Our initial launch tested 75 brands in 8 categories.