The millennial generation has grown to be one of the largest populations in the United States, even outnumbering the baby boomer generation. And now, not only are they the largest group in America, but they are also the most financially influential group, representing more than $1.3 trillion in consumer spending power, according to the Hartman Group.
While millennials have some attributes in common with baby boomers, like a commitment to hard work and pursuing the American dream, many of them are more digitally engaged and want to have more of a personal and passionate connection to the financial and purchasing decisions they make. This is why it’s so important to understand the “millennial mindset” in order to effectively market to this important generation.
To assist you with your millennial marketing initiatives, we’ve outlined a few important things for you to consider before you get started.
Millennials respond best to personal, direct communications.
Generic, all-encompassing marketing communications may not resonate with this critical target audience. Millennials desire relevant, personalized communications that speak to what they’re passionate about, such as new concepts, social causes, fresh ideas, and solutions that make life more enjoyable or easier. Remember, millennials engage and support brands that they feel a personal and direct connection with. As such, fine-tuning your one-to-one message and considering the most relevant mediums is critical for generating and sustaining success.
Millennials love innovation and new technologies.
Because millennials are so tech-dependent, they are always hungry for new solutions and new ways of doing things. With this in mind, look for ways to incorporate emergent technology into your marketing tools, such as Augmented Reality (AR). AR delivers richer experiences and facilitates connectivity via displays, POP, or print ads by instantly connecting to video, animation, websites, games, virtual offers and much more.
Millennials are very digitally connected and media connected.
Millennials spend approximately 18 hours a day consuming digital media, with different types of media—some of which are consumed simultaneously—according to Entrepreneur Magazine. Most of the digital media they consume is from social media. Therefore, having a social media presence on Facebook, Twitter and LinkedIn is one of the best ways to reach millennials. However, your content must be engaging, relevant, and not one sided. Millennials want to feel like they can contribute, and be a part of the conversation as well.
We invite you to learn more about a wide array of innovative marketing solutions that can support your next millennial marketing campaign. Visit Communicorp.com or contact Sissy Doll at 706-329-3703 to learn more about these and other products & services.