Pepsi just launched a new marketing campaign based on results from a research project called the “Pepsi Optimism Project (POP).” POP concluded that despite the tough economy, 94% of Millennials are optimistic about the future.

The marketing campaign started with a facelift to the Pepsi logo that turns it into a more uplifting look, giving the consumer the sense that it’s a smile. Next they launched a series of advertisements with bright, flashy colors, a catchy song and the welcoming words “Yo,” “Hello,” “Aloha,” etc., giving the ad a sort-of Apple 2008 meets 90’s boy band “pop” feel.

At first thought, it seems a little strange that Pepsi would decide to play to Gen Y’s supposed optimism when we’re smack dab in the middle of the worst economy since the great depression. But in reality, it’s really smart. In the past few years, Gen Y has had its fair share of negative labels, but one thing you always hear is that we are eternally optimistic. We’re optimistic because until now, we’ve never faced a tough economy, we grew up with free-spending baby boomer parents, and if we couldn’t afford something, our credit cards always could (Yes, I’m generalizing here).

So even though we are facing some challenging times, deep down, we still believe that everything is going to turn out just fine. Pepsi figured this out with some in depth analysis. And for that, I say, “good job!”

But here’s the thing. The commercials won’t work.

The commercials won’t work because even though Pepsi did its research and concluded that Gen Y is optimistic by nature, they forgot to dig a little deeper. If they had, they would have found an optimistic group of 20-somethings that happens to be very realistic as well.

The realist in me does not want to see bright colors and sing along commercials proclaiming optimism for the future. The realist in me wants to see that Pepsi is doing something to help people out during these tough times. I want to see Pepsi cares about their consumers and that Pepsi is going to stand next to us optimistic Millennials and fight the good fight to get through the tough times.

Yes, Gen Y is optimistic, but we’re not naïve enough to think we can close our eyes and ignore what’s happening and expect some higher power to fix things. We want to do the fixing, and we want the brands we choose to associate with to help us out.

There are some companies who seem to “get it.” Hyundai’s new commercial talks about their newest program that will buy you car back if you lose your income in the next year. That’s pretty cool. Hyundai is essentially saying, “We recognize the crisis and we want to make money. But we have a heart.” The company is doing something to help, and they are sharing that information in their ads.

IBM’s new smarter planet ads all center on the people who are doing the actual work to make a difference in one way or another. They give the viewer a reason to believe that IBM is more than just a huge brand name, and that the people who work for them are optimistic about the future BECAUSE they are doing something to make it better, which validates the optimism.

So, Pepsi, if you’re strictly trying to appeal to the Gen Y tweens and teens who haven’t experienced life away from home, this campaign may have a chance. But if you want to reach the coveted twenty-something demographic, it’s probably time to rethink things. I would ask one simple question, “How is the Pepsi brand giving Gen Y a reason to be optimistic?” If you can answer that question, you’ve got your new ad. If you can’t, than it’s safe to assume that advertising is the least of your concerns.