Millennials, also known as Generation Y, have entered to the real world. They’re defined, self-aware and despite coming of age in the wake of financial collapse, finally making money. Millennials are getting married, having children and building lives of their own. They’re pioneers in an array of lucrative technology fields. Yes, some still live at home with mom and dad, but others are becoming self-made millionaires. The fact of the matter is that the millennial generation is now a market some businesses need to consider targeting.
This might be more challenging than you think.
For millennials, growing up with the Internet meant having easy access to an endless supply of information. Not only did the Internet change conventional ways of gathering information, but it also changed means of communication. For Generation X, communication tools like texting and social media were things they had to pick up along their way. For millennials, these types of communication channels became embedded in their upbringing. This caused their interpersonal relationships to develop differently, molding a set of morals and values unique to their age group.
To reach millennials, industry leaders must understand how they think, where they spend their time, what they care about and which mediums persuade them best. It’s no revelation that millennials spend their time online. However, casting a wide net via digital means isn’t enough. If there’s one thing this generation is skilled in, it’s tuning things out. So just as important as your targeted online ads, will be the way they’re orchestrated, the execution of the content and the delivery method.
In regards to media placement, if you think TV fails to reach this demographic, think again. Millennials follow their own show schedules; binge watching entire seasons of shows in one night, unlike other demos that tune in to regularly scheduled programs. However, big TV events like premieres, finales, sports, and award shows are huge draws for them. Relatedly, these events cause social media usage to soar during air times. In the world of truly integrative campaigns, these are golden opportunities to reach them.
Marketers need to understand the way millennials link with not only one another, but with brands, influencers, media platforms and devices. Here’s where one problem resides. The millennial generation was raised in a much different environment than the generation that’s essentially in charge of advertising to them. Ad Age data shows that the average age of executive leaders in the creative and strategy departments in advertising is 39. With millennials often working right under their noses, the simple solution is to listen to the opinions of their younger counterparts—and take a chance on their ideas.
If one thing is certain, it’s that millennials listen to each other. They really, really care about their peers’ opinions. One thing we often associate with the millennial generation is their refusal to grow up. If that’s true, peer pressure should still be an effective method of persuasion.
So what’s the right strategy for your business to appeal to this emerging market? The variables are great but the opportunities are ripe. The moment has arrived; millennials are here. Is your business prepared?
Are you ready to take your piece of the millennial pie? If so, we can help. Appleton Creative is an award-winning, full-service advertising agency located in Orlando, Florida. Appleton works with local, national and international clients to provide marketing strategies through print, web, social media and video production – all in house. At Appleton, we want to learn about your business, empower your marketing team and be your creative resource. Your marketing goals are worth a conversation: contact us at 407-246-0092 or firstname.lastname@example.org.