What is Millennial Marketing?
Millennial Marketing targets the millennial generation and their common characteristics. Millennials, also known as Generation Y, were born in the the late 1980’s to the mid-1990’s. Like any generation, there’s a laundry list of characteristics used to describe them. A few that are helpful when marketing include general open-mindedness, value of material goods, fluency in all things digital, and a focus on image and status.
How Millennial Marketing works
1. It's everywhere
Millennials are the generation of constant information flow and taking the internet everywhere. Generally, Millennials make purchases, see advertisements and share content on mobile devices more than they do on a desktop. You have to be where they already are. Marketing to Millennials means social campaigns, web campaigns, and mobile friendly campaigns.
Millennials typically do not buy into hard selling. As a generation of sharing their lives online, they buy in to collaboration. Brands that use influencers like local bloggers and relevant celebrities understand how to build trust with Millennials -- it's about offering them a tribe of people they like, that they want to join and be like. This also goes for reviews. Offering Millennials testimonials or purchase reviews is a way to build and reinforce their trust.
It's give and take
Millennials have a huge amount of spending power, but they are also a group of deal-hunters. Constant flash sales, email
Why Millennial Marketing is important
Millennials can’t be ignored
Millennial marketing is a powerful tool because Millennials are powerful. Millennials have a buying power of $1.3 trillion, according to The Boston Consulting Group. It is a generation that is constantly buying, selling and sharing products and services they believe in. And where they are buying, they are also influencing. Think Yelp and Google Reviews. Even if Millennials only spends $10 on a meal somewhere, they are letting hundreds of people on the internet know what they think.
You can reach them everywhere
According to Making a Facebook account for your new restaurant costs you nothing. And yet, that is one of the major places Millennials are looking for their information and posting their reviews. Ignoring Millennials is synonymous with ignoring free opportunities to market directly to an audience. Facebook, Twitter, Instagram and Snapchat are your friend in millennial marketing.
They represent a trend
Millennials were the first generation to fully embrace the digital age. They won’t be the last. If you want to continue being relevant to generations that follow Millennials, like Gen Z, it’s good to start including tactics to reach Millennials where they are. That means going social, mobile and digital.