Gen Y masters marketing

Generation Y (or Gen-SMS) business owners are catching on to innovative marketing techniques to build their businesses and counteract tough economic conditions.

These entrepreneurs, and particularly those whose products and services target the late teens to early 30s demographic, are a “force to be reckoned with’’, says Gen-Y marketing expert Adam Penberthy.

Research conducted by Mr Penberthy’s Fresh Marketing team found Gen-Y entrepreneurs were more willing than their older counterparts to adopt emerging or new marketing concepts.

And older generations should take note of these emerging trends when trying to engage a Gen-Y demographic. “Gen-Y are constantly referred to as a ‘connected generation’, which is completely understandable when the majority of these people have grown up only knowing a world fuelled by technology and inter-connectivity,’’ he said.

He said the most recent phenomena included advertising on social networking sites such as Myspace and Facebook, online viral campaigns, interactive websites, innovative experience marketing opportunities and the use of mobile marketing technology.

One of 150,000 Australian Gen-Y business owners, BoLinda Pyziakos, of Bodacious Spray Tanning & Beauty, has been using such techniques since she opened mid-year.

“We’re trying all avenues to see what works for us,’’ Ms Pyziakos said. “When we first opened we hired a PR and marketing company. We’ve done some targeted paid advertising. We have a Facebook business page-that’s very helpful. The percentage of Gen-Ys on there is phenomenal.’’

Facebook uses key words within users’ profiles to target advertising to those with specific interests, but Ms Pyziakos has hit on an even better method: she keeps a folder on site for people to list their details and join the Facebook “group’’ when next online and they are offered specials and entry to a monthly draw.

“We’ve had more response out of our own ideas than Facebook advertising,’’ she said.