Right now, millennials are on pace to surpass the Baby Boomers in income by 2018. This means that marketers, if they haven’t already been paying attention, need to direct their attention to this massive market of individuals. And individuals they are.
Millennials value individualism more than previous generations. Successful marketers have learned how to leverage this principle to increase generation of leads from this massive, wealthy group.
Keep the following tips in mind when targeting your marketing campaigns to Generation Y:
1. Stay relevant
You might believe your product or service is fantastic and is exactly what your target audience needs, but if you can’t show millennials the value of your brand by relating to them, they might ignore you. Millennials are looking for more than specifications and technical standards; they want to hear how what you’re offering fits into their lives. For example, a car commercial can focus more on what fun adventures the owner can experience with their vehicle, rather than focusing on the reliability of the engine or the amount of awards it’s won.
2. Market to social groups, not life stages
Millennials drift far from the other generations when it comes to how you target their needs. Previous generations tend to appreciate an understanding of needs at different stages in their lives, but millennials lead a less linear lifestyle and marketers need to respond appropriately if they want to be successful. Millennials follow more alternative lifestyles and find a deep attachment to their identities more than they do to their age group or stage in life.
3. All hail the power of mobile
Virtually every Generation Y-er stays connected to the world around them with a mobile device. Mobile is so heavily used, that search engine giant, Google, doesn’t rank your website as high if it isn’t mobile friendly. Even if you aren’t necessarily running a website, you may still be affected because this concept applies to ads as well.
Millennials, and members of other generations, including the uprising Generation Z, are relying heavily on mobile devices for solutions to their problems and for staying connected with friends, family, and the latest trends. Marketing on these devices is a smart way to stay relevant and noticed.
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