Understanding them is half the battle
Who are millennials? Some older generations deem millennials as the “younger people who need to get off their phones and talk to people face to face!” Some refer to them as the “selfie generation” (but come on, everyone takes selfies these days. I see you, Mom!) What people don’t realize is these digital guru, texting crazed, instagramming fanatics make up one-forth of the total U.S. population with an annual buying power of $200 billion. And they aren’t all 23! Millennials were born between 1977 and 2000 making them anywhere from 16-39. We like to think we know everything about them, but the truth is, millennials can be misunderstood.
Here are the top three facts about this generation we feel can best help you understand and market to Generation Y.
- Millennials are sharers.
Sometimes, over-sharers. But in this case, you want them to be. If they like you, they’ll talk about you on their personal social media pages. (Same if they don’t like you…so be careful!) People say word of mouth marketing is the most powerful form of advertising. Well, with the help of the internet, social media and millennials, word of mouth just got a lot easier (and trackable!)
In an article found on Millennial Marketing, statistics show that “Millennials are also more likely than other generations to share branded content if they relate to it or it somehow affects their life.” If you can use these tactics to make someone loyal to your brand, they will do the advertising for you. Starbucks doesn’t call up people and ask them to Instagram an artsy photo holding their favorite drink— they just do it. Add a hashtag and a few emojis and this millennial has just become your personal marketer.
- Millennials have FOMO
Fear Of Missing Out. They want to be involved and personally invested in your brand, so you need to give them the tools to be! Keep them informed and involved in your company and don’t just throw advertisements in their face. Traditional advertising such as magazine ads, direct mail and radio will build awareness within the millennial demographic, but that won’t get them impressed. Engagement is key with this generation. According to an article on HubSpot, Generation Y is 247% more likely to be influenced by blogs or social networking sites because the message is someone just like them. Use these influencers to give your brand a boost and original content to make them feel privy to the ins and outs of your product.
- Millennials Have the Attention Span of a Puppy
This is not such a bad thing. They are so interested in so many things, you only have a split second to grab their attention, and keep it. What will get you there? Exciting, different, relatable content.
Leah Swartz, a writer for Millennial Marketing, sums it up nicely by sharing the thought behind a millennial mind:
“Content marketing is about creating new opportunities to discover a brand on my terms and on my time, not about being force-fed a brand message when I am not seeking it out.”
Content for millennials is all about agility. They want to read it and share it immediately so it better be ready when they’re ready. As an advertiser, just remember to be BAD.
Be quick on your feet. Be able to respond when the conversation starts happening.
Anticipate what they’re going to want. Use analytics to see what content they really care about and then create more of that.
Don’t hesitate to change your course of action. If your data is telling you that the wind changed and your target is showing interest in something else, switch up your strategy. You can literally make strategic changes in hours instead of months or years.
So don’t be afraid. Really get into the mind of a millennial next time you are creating an advertising strategy geared towards this generation. And if you are looking for ways to build your marketing strategy, look no further than Revel’s own group of millennials.