For decades, the marketing world has been told how critical the baby boom generation is to the overall buying power of the US economy. While this generation still has some say, Millennials are quickly becoming the new majority on the block. Born between 1981 and 1992, this demographic accounts for nearly 80 million Americans – almost one-fourth of the entire population. Many within this group are now out of college and working fulltime. As a result, they are now the generation with the largest buying power. Since what appeals to millennials is quite different from what motivates Baby Boomers, this shift has made marketers rethink how and where they reach their audience.
Here are some tips for marketing to Millennials.
– Authenticity is essential. Millennials are wary of anyone who claims to be an expert. They trust those that speak their language such as people they already know or those that share their similar interests and background. Content-based on knowledge and helpful information create the authenticity this subset craves for.
– Outbound marketing is a waste. For millennials, discovering new brands and products is done through browsing online and sharing social media content with friends. The days of companies successfully promoting their brand with pop-up ads and radio advertising are long gone.
– Interactive relationships are appealing. Not only do today’s youth want to find brands that speak to them, they also want a say in how those products are created. Finding interactive ways for customer input is key to creating a more loyal, responsive consumer base.
– Millennials value experiences over products. This generation sees the endless possibilities in any endeavor they undertake. Make sure to market not only to why they need your product but also how it can help them live the life they have always wanted.
At Grand Marketing Solutions, our team helps businesses market effectively to every generation from Baby Boomers to Millennials. With expertise in both online and offline advertising, we offer solutions which appeal to a wide variety of people from varying backgrounds and age groups.