The biggest factor that differentiates this group from those that went before it, is that these people were born techies. They came into adulthood with cell phones in hand, laptops in their backpacks and an almost innate disdain for print mediums. They are 72 million strong and they have 200 billion dollars to spend. This is an audience you want to please and eMarketer’s presentation has some tips in that regard.
You should take the time to flip through the whole deck, because there’s a lot of great info here, but I’ll hit a couple of the highlights for those short on time.
The presentation has a quote from Carol Phillips of MillennialMarketing.com that really puts the whole group into perspective.
“They want to believe that they have uniquely discovered the things they like.”
This is key when marketing to this group and I have a teenager at home to prove it. If it’s accepted, popular and everyone is doing it, he has no interest in it. To reach him and his friends, it has to be offbeat, underground and accompanied by a rebel yell.
Social media is a big part of the lives of 82% of all millennials and they see social sites as entertainment. 38% of their internet time is spent on Facebook and though they don’t watch TV as much as other groups, things that happen on TV are a large part of what they talk about online. Magazines and newspapers are of little interest but if you can put it on a cell phone, they’re there.
The good news bad news about marketing to the millennials is that once they grab hold of a trend, the rise in that trend is meteoric. The downslide is just as fast, though, once they’ve found a new idol to worship.
The second biggest hurtle, 84% of millennials don’t notice ads on social sites. So what’s a marketer to do? Video is one of the best ways in. A humorous ad goes viral and you’re in like Lady Gaga at a Glee party. Mobile is another effective tool. Try creating an iPhone app that combines your product with a game that entertains.
Above all, be honest. These guys have x-ray vision and they’ll see right through that phony attempt to be their friend. Ask their opinion and really listen to what they have to say. The millennial is indeed an illusive creature, but once you get hold of one, you’ll find the reward was worth the effort.
Click here to see the full webinar: Tips for Reaching & Engaging the Elusive Millennial