More than Simply "Doing Good" A Definition of 'Changemaker'
How ETSY is Helping Millennials Turn Fun into Profit
1. ETSY - Helping Millennials turn fun into profit.
RAW at Rufus 2015 - Strategy
Mario Charles Galea
Based on real world observations, tell a story
about how a company has improved someone’s
daily life.
2. Millennials Introduction
“They know the way things go
down and are no longer naïve
about the workings of the world
and the intentions of businesses
and other organisations.”
Peter Sheahan from “Generation Y:
Thriving and Surviving with
Generation Y at Work.”
3. You’re single…
You knew what LOL meant the first time
you used it…
One of your first music collections started
with Now That’s What I Call Music!…
You have a few hundred Facebook
friends...
Millennials are coming to brands with new
needs and new challenges.
If;
Then you’re probably a millennial adult.
4. A Generation of Worriers
Millennials strongly believe that
businesses need a readjustment in
terms of paying as much attention
to peopl e and purpose as it does
to products and profit.
According to "The 2015 Deloitte
Millennial Survey," 75% of the
Millennials believe businesses are
more obsessed with their own agendas
and not enough focused on helping to
improve society or their own
customers.
According to the same report,
Millennials believe that while most
businesses are successfully creating
wealth, they are less effective when it
comes to improving the wellbeing of
individuals or providing general social
benefits.
Yet, one can’t help but
acknowledge the tension that still
these days exist between living in
an economy that feels increasingly
competitive, together with a feeling
that Millennials have more
freedom and choice to live their
lives as they wish.
Beliefs T hey are on a journey
Millennials are an interesting
bunch. Throughout their life
journeys they have learnt to adjust.
Also, the way they use technology
informs how marketing should
evolve. Even better, they recognise
the power of innovation and
creativity in their own lives, but
also in the lives of brands.
5. Technology, Social Media and Millennials
Millennials got used to compete in order to succeed in most areas of their
lives. In order to succeed in a world with fewer jobs and greater
uncertainty, Millennials need to be more adaptable and creative.
Social media, has therefore transformed what was originally a way to stay in
touch with friends and family, in to a self-marketing instrument. For most 25-
29 year olds, social media is an outlet for personal feelings (e.g., sharing,
gaining approval or influence others). For 30-34 year olds it evolves into a
behaviour that is more about the collective good (e.g., connect with other
creatives etc.)
Millennials response to tough circumstances is to ‘invest’ in
themselves & learn. Traditionally, between the ages of 25-34,
people consolidated their careers and started a family. Now they
are delaying settling down, continual ‘up-skilling’, multiple jobs -
often simultaneously - and the aspiration to work for oneself.
Changing
role of
Social
Delay
life
events
Facing
tough
competition
6. Like similar brands that target Millennials, Etsy has a very clear brand
purpose:
‘our mission is to re-imagine commerce in ways that build a more
fulfilling and lasting world’.
ETSY
Brand
Purpose
7. An ETSY community
Millennials are confident &
educated enough to look for
alternatives. Start-ups and
own businesses are usually
seen as good measures of
success.
ET SY is the largest
marketplace for handmade
crafts in the world. The good
thing is that you can make a
living wage selling your
creative output over the
internet. With ETSY, one
could turn fun into profit.
Especially for women who
want to integrate a career
with being a mother. Hence
why ET SY , the online
marketplace, is mainly used
by women giving them the
power to voice their opinion
through blogging.
8. How is ETSY supporting a more creative life:
Empowering artists,
designers and
curators to start and
grow businesses on
their own terms.
Supporting a
people-powered
economy.
Inspiring ethical yet
profitable business
practices;
Etsy’s core aims are to provide the opportunity for creative people to support their creativity in a
global marketplace. Keeping in mind what was presented earlier, Millennials want to define their own
destinies. Most of them can be highly entrepreneurial and want to have the liberty to work in a way
that suits them best.
Therefore, Etsy acts as an exciting enabler for Millennials to turn hobbies into careers and possibly
live life in a more flexible way by:
Connecting buyers
around the world to
the communities
where Etsy shop
owners live, create
and work.