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Marketing To The Millennial Generation Is Unlike Any Other!
Has your business started thinking about how it’s going to market to a younger generation? How do you create a brand that’s relatable to Millennials? The Millennial Generation or Generation Y includes all people ranging from ages 18 to 34. There are now 72 million individuals that make up Generation Y. This generation is different from all others. They’ve grown up with technology and the ability to get things faster and easier than any other generation.
There are many different ways a company can bond with Millennials. Though Millennials buy things just like previous generations, the way they buy these things is extremely different. Remember, Millennials grew up with the ability to record television shows and skip commercials, they’ve grown up with iTunes and CD’s and they are unaffected by traditional marketing campaigns. Millennials like the “wow” factor!
What does this mean for marketers? Well, Millennials have become the largest generation with the greatest combined purchasing power in history. As mentioned in an article by the Huffington Post, “65% (of Millennials) say that losing their phone or computer would have a greater impact than losing their car. 63% stay updated on brands through social networks. 84% say “word of mouth” is the primary influencer for their purchasing decisions. Finally, 41% say that they have made a purchase using their smartphones”.
So, the two best ways to market to Millennials are; targeting them through markets that they feel comfortable with like social media, blogs and by using smartphones. The second way to target Generation Y is to use “word of mouth” advertising or testimonials and online forums. This generation trusts what their piers have to say far more than what you say about your own brand.
If you haven’t already, now is the time to learn social media. Facebook, Twitter, Instagram and even Pinterest are different ways you have the power to interact with this unique generation. Even if your products aren’t directly sold to individuals 18-34 years of age, this generation is growing in age and will soon control most of the workplace, so keep them in mind and never, ever rule out Generation Y.
How does your business target Millennials? Do you have company social media websites, blogs or even a YouTube channel? Share your feedback and the creative ways you target Generation Y on our Facebook, Google+ and Twitter pages using #SLIBlog.