THE PRESENT AND THE FUTURE BELONG TO THE YOUNG21 March 2018
Millennials have always been the hub of extremes and surprises. When you think you have found a pattern in their behaviour, it looks like they are constantly trying to convince your wrong by doing the exact opposite of your prophecy. Full of surprises and challenges? Yes. Inexhaustible source of talent? Yes. An evitable target market? Absolutely not.
Reaching any market, requires the insight into the importance and identity of the particular group. In 2018, millennials count for almost one third of the European population, which makes them the largest generation, exceeding the number of baby boomers with more than 10 million. Even so, a defined description of millennials still hasn’t been found. Nevertheless, we can all agree that the millennials are people who have consciously outlived the beginning of a new millennium, the financial crisis and the end of the world several times. To conclude, millennials are survivors.
However, generation Y did not come out unaffected. Their PTDD, or post traumatic decade disorder, shaped their values and beliefs about life. They do not seek to follow the path their parents have freed for them, but know how to use their voice to bend the world to their will. Therefore, targeting this powerful young group of people can and will be a challenge. Luckily, we have listed some tips to give your brand a fighting chance.
Now or neverYou will never be the first to adopt the bright idea of targeting millennials, however, the sooner you start implementing it, the better. The millennials are not getting any younger and important life decisions are lying in wait, such as building a house, having children, retirement, etc. They are daily exposed to new brands and companies, which is ‘the’ reason to start as soon as possible. A poster with bold and flashy colours will do for a short exposure, however when you are aiming for a long-term relationship with an inhabitant of generation Y, you will need to come up with a more innovative project. Catchy jingles, interactive social media campaigns or promotional products will do the trick. The latter allow companies to directly affect the lifestyle of their customers and therefore higher brand awareness and lengthen brand loyalty. As if that wasn’t enough, eight out of ten millennials give their promotional products away after usage. Consequently, the products can have multiple lives and influence a wide range of people. The more, the merrier, right?
It’s always the simple that produces the marvellousMillennials are all individually trying to change the world and do not want to spend much time on decisions they do not value as important. Therefore, ease of use, efficiency and clarity are highly appreciated. It doesn’t have to be complicated to be perfect!
Do not talk at them, talk with themThere isn’t a generation that is higher educated than Generation Y. 63% has a bachelor degree, which goes parallel with their income and consequently, their purchasing power as well. It’s the generation with a voice and they do not cope with being told what to do, not even in marketing. Campaigns that invite them to think and learn, have the highest chance of success. Continuously eager for knowledge and information is one of their biggest assets, but require a lot of persistency and creativity of marketers to come up with the perfect campaign. As for people, it’s not only the outside that has to be perfect.
Social, socialer, socialestSocial media can’t be left out when targeting millennial, since they spend ungodly hours on these platforms. Social media channels are not seen as online platforms by millennials, but an efficient way of communicating. Here, they can openly express their opinion on several topics. This creates again a high number of influences from all around the world. However, research shows that 88% of the millennials is more likely to become loyal to a company from which they have received a promotional product, as only 62% thinks they can engage with a company after exposure to their social media channel.
Make or breakThe children of 80s and 90s are herd animals. They deeply rely on each other and value the opinion of others immensely. The globalised world also gives them the opportunity of getting knowledge and ideas from all across the word and concludes in a broad wire of perspectives. This characteristic, next to their gossip culture, makes them the perfect marketing victim. Their distinct ideas and opinions spread like viruses and your brand will be made or broken before you know it. If you prefer the former, market research is a must. Reading this blog post is a good starting point. So, good job!
As we can conclude, Millennials are not the lazy, presumptuous creatures as everyone thinks they are. This generation is very opinionated and challenging, however, this generation carries the leader of the future and if you give them a chance, they will take your business will go straight to the top with them.
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