If by some miracle you managed to escape the articles, programs and general word-of-mouth chatter about the importance of the digital natives we call millennials—your time of ignorance has run out. There has been an exponential growth in not just hype, but meaningful content related to millennial marketing in the past few years and that’s for good reason. Millennials are directly impacting every aspect of marketing and sales.
This liberal, diverse and technology-focused group is now the largest share of the U.S. labor force, outnumbering Baby Boomers both as workers and in sheer numbers in 2015. The generation—besides having shorter attention spans—is better at multitasking and is not easily deceived in regards to advertising. Here are a few notable industries that this new generation is making a drastic impact on.
After growing up with smart phones, always having Internet access and being exposed to the largest and quickest introduction of technological changes than any other generation, millennials are interconnected (no pun intended) with technology. This has encouraged the new norm of intuitive use, attractive interfaces and cross-platform integration. The tech-savvy generation is nearly twice as likely to research products and read reviews on a mobile device while shopping than their counterparts forcing websites to transform to capitalize on these new behaviors.
In a 2016 consumer research study by Mintel, millennials were found to be emerging as the most important and most frequent travelers. These young travelers prioritize experiences, engage through connectivity and are simply willing to spend more on travel. Marketing consultancy FutureCast reports “that 75% of millennials have travel apps on their phones.” Millennials extensive imagination paired with a transparent pricing model that the internet has fostered, is allowing travelling to feel like less hassle and more personalized than ever before.
Fast casual chains are the name of the game now. Brands such as Chipotle, Fired Pie and Smashburger offer an alternative that has paired high-quality ingredients, fast service and a desirable environment. They have catalyzed drastic changes in the fast food industry. Food is seen as experiential and communal among millennials.
While millennials value different things when it comes to dining, they are not willing to sacrifice time or quality to incur those experiences. Sixty-eight percent of consumers are more likely to visit a restaurant that offers locally produced food items according to a study by the National Restaurant Association.
Millennials value experiences—and therefore, brands—that allow for such experiences. While big name labels used to be the desirable aesthetic, Gen Y places more value in the interactions with the brand than the perceived prestige of the brand. This trend is apparent in the shift towards less noticeable brand elements and trade dress, and an emphasis on quality materials with cross-functional elements.
3 Proven Ways to Engage
Seek out ways that you can provide a memorable moments with your audience. Whether that’s through interactions on social media or making an impression with your marketing message. Create a message that gives your brand a purpose that your audience can get behind.
While Snapchat and Apps are in at the moment but with this adaptable generation there is sure to be a new technology that they will be hooked on in the coming years. Ensure that you are prepared to change things up and be as fluid as this power-house generation.
Discover & Engage Influencers
Thirty-two percent of millennials strongly agree they rely on friends and family for advice on what to purchase. This mentality has paved the way of an entirely new way of marketing. Utilizing online influencers in your marketing plan is a surefire way to reach an audience being pulled in many different directions.
If none of the previous insights swayed your position on marketing to millennials than maybe the following fact will. According to Pew Research, millennials have better relationships with their parents than their parents did. Over 80% of teens name one of their parents as their best friend, rather than a peer. In applicable terms, this generation influences the decisions of their parents in an unparalleled way—it’s time to break out those advertising checkbooks and start marketing to Millennials.