Millennials: The Greenest Generation?

Generate Insight conducted a nationwide survey with 400 millennials between the ages of 13 and 29, in hopes to discover the truth behind this generations eco-enthusiasm.  What the findings show however, are that millennials are not truly the generation leading the green movement that all the articles say they are. The findings show that even though this generation is the most environmentally educated, they don’t take advantage of their knowledge and put it into action.  The results show that the millennials have an interest in being green, but they lack the knowledge of how.

Some additional findings include:

  • 79% of millennials get most of their information from the web
  • 76% of millennials emphasized the importance of brands being ecologically conscioius
  • 64% of millennials said they would be willing to pay more for a product if they knew the brand was involved with an environmental cause

Some of the brands that are most recognized by the survey participants as being environmentally friendly are GreenWorks (by Clorox), Seventh Generation, Toyota, Whole Foods, Kashi, Pepsi, Honda, Method and Coke.

For the full article about the millennials, go to:

Google Has Done It Again

Well, Google Labs has come through with another extremely innovative product once again.  From the labs that gave us Google Talk, Google News and Google Earth, comes Similar ImagesSimilar Images allows users to search for images using other images instead of descriptive words.  This product will take the work out of trying to figure out the best way to describe the image you are looking for.

This feature still makes the user do some work.  Users will have to use words to describe what type of image they are looking for, but once they find the image that is in the same realm of what they want there will be a link below it with similar images.

TinEye is a search engine with similar capabilities.  But with TinEye, the user uploads an image and then the program matches it to other images that are on the web, including those that have been highly distorted or edited.

A prime example of how Similar Images works, is when a user types in “Paris” photos of Paris the country, images of the Eiffel tower and even snapshots of the socialite Paris Hilton come up.  When users find the “Paris” they are looking for there will be a Similar Images link underneath the image you would like that will refine the results to give you the images you want.

Check out the new Google Labs technology at:

Teens Sticking to Budgets

Teens are usually a demographic that can be counted on to continue spending even in rough economic times.  But this downturn is different, teens are becoming quite tight-fisted, according to research from Piper Jaffray.

Teens generally have around $5,000 spending cash a year.  The research shows that they are spending about 14% less this spring than during the same period in 2008.  This new found teen savings model is really going to have an effect on the $125 billion teen spending industry.

Several factors are listed in this article as reasons for teens tightening their wallets, including a high unemployment picture for 16 to 19 year olds.

According to Piper Jaffray, teens have cut spending on apparel, beauty, food, movies, concerts and sporting events.  What they haven’t gone without is music, DVDs, video games and video game consoles.  Jaffray believes that Apple, Xbox, Electronic Arts, Nike and Starbucks don’t have to start worrying about the teens leaving them just yet.

For the full article about the new way teens are spending, go to:

Coke Trying to Urge Industry Change

Coca Cola is trying to start an industry wide movement that enforces a “value based” compensation model.  This model clearly states that agencies would not get any monies if the product did not perform.  This is of course is a disadvantage to the agencies because they would not be allowed to project profits before their work is delivered, as they have done in years past.

Coke’s director of worldwide media and communication operations believes that this model forces agencies to earn their profitability.  The value-based compensation model has been a hot topic in the industry for the past decade but few marketers have actually gone through with it.  Coke on the other hand shifted from the flat fee based on hours worked model in five markets last year with plans for rolling it out in 35 more this year.  They want all of the company’s global ad and media agency relationships to adhere to this model by 2011.  With 3 billion in global advertising spend, Coca Cola may have the upper hand in this decision.

The agency is used to defining the value of the assignment by hours needed to finish the creative process but this new model will allow Coke to determine the value of the assignments based on the work’s strategic importance, the talent involved and whether or not other agencies could product the same work.

This model could definitely be a huge blow to agencies, especially those who put together brilliant campaigns that the public doesn’t necessarily respond to.

What are your thoughts, from an agency standpoint? From the client standpoint?

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