Much written about, and also the most recent Generation, Generation Y or also referred to as the Millennials;

Understand them, tweet it, when you see them, Instagram it, and as fast as possible! This group is the most tech savvy, they are on the internet all the time and have non stop access to information.

You are probably wondering why I am writing about this Generation, and why this Generation is of such importance for the travel industry. 

The Generation Y is the one with the least loyalty and therefor also the one that is hardest to catch as a client. They are constantly on the look out for something better, cheaper, faster and can access and read about all they want online, instantly, as they are always online.

This article is the fifth one in this range about Generations. The purpose of writing these is to get a clear view of how and what the Generations are trending, their buying behavior, how you can influence them, and get them to become your client. Naturally this is also the customer of the future.

Generation Y has been growing up in a very insecure society with layoffs, globalization, endless media and social communication. They are continuing to see and understand the immense growth of India, Russia, Brazil and China, and therewith the influence, takeovers, corporate mergers and influx of travel from these countries. They have experienced some mayor events like 9-11, the war in Iraq, and the crashes of Enron and Worldcom.

They are the Generation that can be least trusted according to the ethics resource center and make the least loyal and dedicated employees. This in line with Generation X, which is a lot about the social and mental freedom. The challenge is that opinion is spread freely and not always according to ethical standards. Talking bad about the company they work for, and tweet about the sour boss is a regular occurrence.

Some could say opinion is and should be in line with freedom and democracy, but clearly there are limits that make the social environment function, as other stakeholders are becoming the victim. Blogging and tweeting are two activities directly reflecting trends within this Generation.

In fact there are now many travel blogs and you can find anything you want on twitter, about a destination, a trip, a hotel or airline. Whether you find the sources trustworthy is up to the reader, but statistically one can wonder who to follow and what to trust. Within the hospitality business important roles are dedicated to social media and entertaining and supplying this Generation with feeds, information and updates on the business and beyond.

Learning and paring with experienced or known brands is highly important, not that it might necessarily increase loyalty but for sure you will get the attention, and get a chance to get the impulse or instant purchase of your service. The Generation Y is highly flexible and extremely good at breaking down issues and seeing opportunity and most certainly they are willing to test without knowing too much in advance.

Within the hospitality Generation Y are considered one to test, a Generation that is not well defined as they rule their own lives and therewith their expectations. The world is but a click away and they have virtual experience rather than first hand through their computer, or hand device.

Generation Y
Born 1980 - 2000
Characteristics:
Diverse, global, entrepreneurial
Key words: Independent, Objectives, tech savvy, Determined and self-confident

Online, always
The Generation Y or Millennial has never lived without a computer, they are connected, everywhere. This is one of the most important ways to voice their opinion, have themself heard. They are hero, they know what their goals are and will not rest until that as been reached. They use the phone or IPad as the biggest source of information and are dependent on other opinions. They make great team members as they are tolerant and diverse.

Innovation
The technology is key in this Generation, but also innovation. They like to be the ones who find out about new products or services, and communicate that to their friends or colleagues. They are also known as being streamlined and efficient. They are known to find new opportunities and solutions in old problems.

The Generation Y has focus on passing respect and gaining respect. They want to know and tell it how it is. They create their own path, and it is more difficult to define the marketing plans around them. However, they like things structured, and are great listeners, they want to be influenced and are open to new communication and messages.

Marketing
This Generation is independent, smart, well informed and know that they are marketed to. They understand media and messages. They actually like to be the center of the marketing effort, and feel that the product of service has been created just for them. They are highly educated and career minded. They take cash and income serious and consider every penny. Their spending pattern is ad hoc, but savings online and offline are one of the platforms of their economy.

The Generation Y is extremely well connected and can be a great source for any business. They use technology and social media to support them in their decision and creation of opinion.

Sophistication
Even when luxury is not affordable this Generation most certainly knows all about the services or products and has a goal to get it at some point in the future. Even more so, they already at early age want to be part of the club, learn and communicate about the fancy car or a good glass of red. The brand has to keep the promise, that is given through messages. This calls for correct and strong communication that leaves the to be a sophisticated one. Relevance is so important because they want to be understood, and will drop a brand like led if they are sending the wrong message.

Like the Generation X the Generation Y also wants to be in the driver seat and take control, but cares more about what can be communicated socially as part of any effort that has been made before or during the purchase of a product or service.

The toolkit
Shaping the future is the key for successful communication within the hospitality and sales and marketing efforts to the Generation Y. There is a need to be treated equally and yet individual understanding is of essence. This Generation loves to be in the limelight with great outside events that can be communicated with the use of social media.

Social mentors are of great help to any campaign; associations with great brands or people create great number of followers. Brands and products need to help them reach their ambitions, and make that visual, by letting them be a part of a larger team.

Decision-making is no longer an individual effort, it has become a group effort and nobody is afraid to share this.

They travel when they want, and will find the best value and price, yet clinging to names and brands. Respect is of great importance and being able to share the greatness is of extreme value. They don't like to be fooled, so hidden charges and decreased leg space are extremely dangerous for business.

They want to be educated, and are highly responsive to new efforts.

A great Generation to work with, and clearly a game changer for most traditional marketing efforts.

What's next
This was the last of 5 articles. It has been written by travelers with passion to understand what the market is doing and how we can best influence them to create positive and healthy business. Learning is beautiful and essential for our business to grow incrementally.

Resources:
Bruse Mayhew Consulting
Albright&O'Malley
Boston Consulting
Mckinsey Urbanization
Ethics Resource Centre – Research brief.
Dr Rick And Kathy Hicks – Boomers, Xers

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Jeroen Gulickx is originally from Holland, where he obtained two business degrees. Later in life he also certified as black belt in Six Sigma. He is Managing Director and founder of Mocinno International, a hospitality consulting company that started in 2005, focused on delivering incremental revenues for hotels, spa's and also hotel suppliers.

Jeroen is well traveled and has extensive experience in the luxury travel segment. The main capabilities vary from streamlining cost and operational models, strategy yielding, business development, and marketing to digital marketing. Mocinno International works with a network of highly experienced, energetic and yet innovative people, based in key locations.

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