We’ve all heard the rising term that refers to our young adults as millennials, but what does this really mean for affiliates, marketers, business, and advertisers. In this article, we’ll talk about this and how to gear marketing efforts to target millennial audiences.
What is a Millennial?
Millennials are described as the generation born between 1981 and 1996 or 20-34 year-olds who have grown up with the advances of technology. This generation currently makes up almost 40% of the work force and is expected to increase its population to almost 80 billion by 2036. (PewResearch Center)
Only 1 in 3 millennials head their own household and 30% return to live with their parents after moving out. They are the most educated generation and value family input more than any other generation. They are not religious in the sense of institution, but most do believe in God and heaven.
Buying Behaviors of Millennials.
Because of their education and family ties, the millennial generation has a strong influence on the how they spend their own money and how their parents spend part of their money. Millennials are very intelligent and spend a lot of time online. They know the difference in an authentic brand and a blatant advertisement. They respond to personalized experiences and buy into brands that improve their lifestyles.
How do we Reach Millennials?
One thing that really sets this generation apart from others is the amount of technology they use. They are involved in the online world and they want to see their favorite brands there too. It puts their needs within their reach. This is extremely important for marketers to understand. We need to reach millennials online.
The American Press Institute did a study on millennials and their social media use. They estimate the younger millennials use up to 4 channels of social media and the older millennials use up to 3 channels. These channels include Facebook, Instagram, Twitter, SnapChat, Pinterest, Google Plus, YouTube and many more!
This is a heavy resource for engaging with millennials. We should be on social media and we should be pursuing our millennial audience and building relationships with them through these platforms.
Due to the behaviors and beliefs of many millennials, customized messaging is paramount to gaining their attention. They are self-aware and want to be heard. They want to be a part of the process. We’re not saying restructure your entire business around millennials’ ideas. We’re simply saying listen and understand. Apply what you can that can improve your business, but otherwise, it’s about simply being in tune with them. And this is actually true for all your audiences.
Not only does social media allow you to interact with your millennial audience, it can give you invaluable data on who these millennials are, so you can customize your message to suit their individuality. Use their language. Target them with specific interest. Customize direct mailouts and more.
This generation is making their mark on our business world. They are a large majority and can benefit businesses. Don’t discount them or their influence, but be open to who they are and what your business can do for them. They are different from other generations, but they also provide useful information in the way of technology, education, and lifestyle values. Let them be heard and you can reap the rewards.
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