WHAT’S SO SPECIAL ABOUT MILLENNIALS?
Today, the millennial generation – those between 19 and 36 years old – compose 25% of the population and number three million more than the baby boomers. They are, of course, a heterogeneous group but have certain commonalities that make communicating with them a whole new ball game for many marketers.
“The selfie generation isn’t selfish.”
First, contrary to what many seem to think, millennials are not particularly materialistic or self-absorbed. On the contrary, in many ways, they are more aware of others and their moral obligation to them than other generations. According to an online article entitled, “Meet the Millennials: The Consumers to Change It All,” on www.thenextweb.com, millennials rated being a good parent (51%) as more important than having a successful marriage (30%) or owning their own home (20%). They also rated helping others (21%) above home ownership. Fifteen percent said that having a high-paying career was one of their most important priorities while another fifteen percent put leading a very religious life at the top of their priorities list.
Generation Y is all grownup.
Although they are sometimes portrayed as a generation of childish, self-indulgent, lazy loafers living in their parents’ basements, millennials have already grown up. Fifty percent have children of their own and another fifty percent are married (not necessarily the same group!) And consider this, according to Patrick Spenner in his Forbes’ article, “The Millennial Mind: The Do’s and Don’ts of Marketing to this Powerful Generation,” millennials will make up 50% of the workforce by 2015, growing to 75% by 2020.
Connecting electronically is the new normal.
For millennials, electronic communication isn’t just an addition to life. It’s a core element. i-phones, androids, and i-pads are how they connect to the world, stay informed, purchase goods and services, manage their finances and maintain personal relationships. The first generation raised from babyhood with the internet, millennials have a different definition of friends and acquaintances from their parents and grandparents. They may have a stronger bond with someone who is part of their digital social network than they do with the people next door – even though they’ve never met these contacts face to face. The numbers show that a full 75 percent of this generation belongs to social media networks with 55 percent visiting these sites at least once a day. In addition, this generation gives twice as much credence to information and recommendations from social media contacts as they do to information from a product website.
Social media is a marketing “must-have.”
Clearly, to market effectively to this generation and the children they are raising, marketers must understand what motivates them, inspires them and influences their buying decisions. They must also understand that connecting with this target market via social media isn’t just a “should do” activity to stay competitive, but an absolute essential element of any effective marketing strategy.
Call Crux Creative. We’ll help you make the most of your social media.
To find out more about how your business can use social media and more to connect to millennials, call Crux Creative today. We’ll provide some valuable insights to help you solicit their business and retain their loyalty. And, as always, the cookies to fuel our discussion are on us.