Every generation thinks that they’re different from their parents and grandparents, but millennials may be the first generation that is truly different from all of those who came before. Their approach to life, learning and relationships has evolved from experiences that are new to humans on this planet. The ultimate impact of this is yet unknown.
Marketing to Millennials
Many of the older marketing strategies, such as newspaper and television ads and phone campaigns, will still work to some extent, but will be much less effective. Over 60% of millennials live in wireless-only homes. They read about news events, but many will first learn about something from social media and then follow up with a digital hard-news source.
Transposing older marketing strategies to a digital platform is a first step, but understanding the basic differences is necessary. They are tech-savvy as no generation before them and socially conscious as no generation has been since the 1960s, but with their own unique twist.
What it Means to be a Millennial
Millennials are probably the most-studied generation ever. Advertising statisticians have become somewhat like anthropologists studying a long-lost tribe in the jungle, with the distinction that the members of the tribe are 20% of the population.
- Digital devices are always close at hand; 87% will use two or three different devices daily.
- Tradition and location are less important.
- They are not lazy, but use technology to increase efficiency, achieving the necessary outcome on their own terms.
- Face-to-face contact is valued but restricted to when it’s necessary.
- When every millennial has a university, an encyclopedia, planet-wide yellow pages and instant access in their pocket, learning is constant.
- Reviews of a product, whether from family, friends or online strangers, matter more than what the company says.
- Marketing a brand on the social networks is the best way to gain a loyal customer.
- Almost 50% of millennials are more likely to purchase if this will support a cause, even if the product costs a little more.
- Staying current with the latest technology is crucial; millennials are 2.5 times more likely to know about and use emerging technology and platforms.
Bottom line? Partner with causes, make effective use of videos, know how to market on social media and think out of the box. Adapt to new technologies and reach them where they are.