Millennials are currently the largest demographic in the United States with a population of 75.4 million. Those born between 1980 and 2000 hold a large percentage of purchasing power businesses cannot ignore. Millennial marketing describes a set of technology-friendly tactics used to target millennial consumers.
The values and interests of millennials often vary widely from their generational predecessors, leaving brands with the challenge of shifting marketing techniques to meet their needs. As a demographic, millennials are heavy mobile technology-users who communicate largely via social media, and tend to eschew traditional forms of commitment in favor of freedom and spontaneity.
Businesses trying to reach millennials must use technology. Active Facebook, Twitter, Snapchat, and Instagram accounts, and optimized, mobile-friendly websites and apps play a central role in millennial marketing. In addition to these channels, millennials search out and appreciate value-driven content. They don’t want sales pitches. Instead, they seek out influencers on YouTube and reviews on Amazon. These consumers aren’t afraid of giving brands the ability to send targeted location-based offers or telling the world if they like or dislike a brand experience.
Experiences, cause-driven marketing, and brand engagement deliver better results than traditional marketing activities. Access to relevant information, simple purchasing processes, and straightforward customer service builds brand trust and loyalty.
As marketers adjust to new consumer demands, many marketing strategies are evolving. The presence of technology and need for transparency and authenticity in the marketplace pressure businesses to perform at a different level every day.
Change is the hallmark of millennial marketing. Remaining in one channel or using one message for too long can render a marketing strategy inert. Millennials crave inventiveness, relatability, and convenience. Marketing campaigns targeted at millennials change often, express different viewpoints, and strive to create personalized connections above all else. Businesses that understand their millennial markets can tweak any marketing strategy to meet this large demographics’ needs.
If you are struggling with your millennial marketing efforts, consider reaching out to IMA thought leader Jeff Fromm. Jeff is a Forbes contributor, president of Futurecast and author of Marketing to Millennials and Millennials with Kids.