Firstly what is meant by the Millennial generation and who are they?
Well the term Millennials is usually used to describe individuals who became adults around the turn of the 21st century. Though it can vary across different sources, the earliest year considered for Millennials is 1976 and the latest 2004.
Many surveys and reports about groups of people tend to generalise and concentrate on specifics like demographics but in a recent article written by Alison O’Keefe Wright from Open Mind Strategy she pointed out that in the US, although there are 80 million Millennials that make up 25% of the population they are actually all individuals. Highlighting the importance of having a greater understanding of them will ensure your marketing communications have as much resonance as possible.
Here is a summary of her findings about Millennials that we should bear in mind when marketing to them.
THE THREE I’S:
- Individuality – any service, product or form of communication needs to reflect and confirm that they are individuals and protective of it.
- Influence – they were born in the digital age, which makes them social media savvy, having access to more communication platforms than any other generation. This makes them key influencers as they can share their opinions on brands and products instantly and easily.
- Information Hungry – they have information at their fingertips on every level – they want a choice on how much data and information they can access, from a snippet to an in-depth description.
THE FOUR P’S:
- Passion – most important to Millennials is expressing themselves through their passions, from food to music. They want to be with like-minded people and follow their recommendations, be part of a community or collective that will help them make choices, whether it’s the new TV show to watch or app to download. So brands need to be personable and engaging in the same way.
- Pro-social – this generation cares about brands having causes, and cares about making a difference. They are not all do-gooders but they’ll choose a brand that has a pro-social angle rather than one that doesn’t.
- Parent-friendly – they don’t have a problem using the brands their parents recommend they actually actively aspire to them.
- Picture people – this is the visual generation they love – Pinterest, Instagram and all things expressed visually.
This article summarises just the Millennials, but understanding your target audience is essential to any marketing strategy and fundamental to success.