Why should you care about Millennials?
Millennials is the biggest generational group since the baby boomers. Their hefty size and buying power are making them attractive targets for many consumer industries. Estimates are that half of all spending is a result of purchases made by Millennials (Marketing Breakthroughs Inc., 2008). Millennials have been identified as a driving force behind online shopping and digital advertising. In the Houston area alone, millennials aged 25-34 make up the largest percentage of the adult population, according to the most recent data from the U.S. Census Bureau.
Understanding generation Y
In recent years, the influence of the millennial generation has grown to a great extent which has urged the marketers to develop innovative digital marketing techniques in order to reach this demographic category. Previous marketing methods that were successful with their parents are being rejected by this generation. Having grown up in a more technology-saturated, interconnected world than their parents, they respond to marketing strategies differently.
The Internet, social networking, and interactive technologies are empowering millennials to be more active in the creation and advancement of products and brands. To successfully reach millennials, marketers are realigning their techniques, and use the right approach to positively engage these vocal consumers. Internet-empowered consumers are ready to ‘jump on the bandwagon’ if the digital marketing strategy appeals to them, or completely reject a product if the message annoys them.
Get your message across
A research, conducted by Murray State University in 2012, found that coupons are, by far, the favorite mode of online advertising for millennials. There is also a substantial increase in the popularity of email marketing, which is the second most preferred form of online advertising.
Website graphics is another important feature that overwhelmingly catches the attention of millennials. According to the study, millennials prefer bright colors, but simple yet professional looking designs. Make sure to have interactive elements on the website so that millennials can interact with the company and take part in promoting your brand.
The importance of millennial reviews
Millennials became increasingly vocal in the marketplace through the use of social media and websites to spread their opinions about products and companies. According to the research by Murray State University, the strongest motivation for writing a review is an extreme dissatisfaction with the product or service, followed by extreme satisfaction with the product. It’s interesting to note that there has been a trend of declining enthusiasm for receiving coupons or rewards for writing reviews.