Anyone who thinks that everyone is his/her audience is facing a big learning curve. Smart business owners know that the more they can target their audience the more successful their marketing will be. It used to be that we were all targeting the vast baby boomer market, but that’s rapidly being replaced by the need to reach millennials—those 18-34 in 2015.
Millennials: a huge demographic with money to spend
Millennials are now the nation’s largest living generation. Research suggests that millennials have an estimated $200B spending power, but reaching this audience requires a different approach than what we used for the baby boomer market. Millennials are far more digitally connected than any other group, and they expect a more personal relationship with businesses they support.
- 91% of millennials are regular Internet users; they’re connected 24/7.
- Because millennials are so tied to their connected devices, some have begun to refer to the demographic as Generation FOMO (Fear Of Missing Out).
- They use a combination of smartphones, tablets and laptops to access the web for everything—information, shopping, entertainment, news and social media.
- Millennials don’t want to be told, they want to be spoken with, making a personal connection. They want to know about the people with whom they’re going to be working.
- Think immediate information delivery. Millennials were raised on social media, so they’ve been trained and have come to expect short answers with even shorter waiting times.
- They’re skeptical. Millennials google everything to check for accuracy.
- They don’t do anything without validation, asking their friends, relying on market research and testimonials before purchasing
A big misconception about millennials is that they are young and immature
While the demographic still skews young, they are growing up and many now have children. Another misconception is that millennials disregard traditional media formats like TV and magazines.
- Magazines are reemerging among millennials as the preferred “screen” for beauty categories; the group views magazine reading as a luxury or reward.
- It’s an oversimplification to suggest that millennials don’t watch TV. They are powerfully drawn to the TV for big events, sports, premieres and finales.
- Millennials are motivated by a desire to participate in social conversation (FOMO).
Reaching the millennials market: cause marketing
Tie your brand to a cause. Millennials love social issues and are likely to select brands and products that support them. Think TOMS Shoes, for instance, which millennials love—buy a pair of the fun, comfy TOMS and they give a free pair of shoes to a needy child.
If you want to get the attention of millennials, you need to have a good online presence that interacts with the public. Most important? Creating a voice that millennials can trust.
Is your online presence compatible with millennials?
Maybe it’s time to update your website and integrate your messaging across your online channels. Talk to us at Top of Mind Marketing. We’re writers and internet marketing experts.