Marketing for businesses is all about communicating with your target audience. With millennials on the verge of overtaking baby-boomers as the largest generation, it is important for brands to rethink what is marketing in a digital age. In order to properly market to millennials, you must first understand who they are as a target audience. To answer the question “What is a millennial?” see below for our definition and an explanation of what makes this particular group so unique.
What Is A Millennial?
The first step to marketing to millennials is to identify who they are. What is a millennial? The millennial generation is most often defined as a group of young adults who were born between 1980-1995. This number can often roll over into the early 2000’s and sometimes even start as far back as 1975. In general however, millennials are the generation known for growing up with technology and being bad with team collaboration. Generational market hinges on the ability to categorize these types of groups, so if you are a marketing professional you should keep the definition of a millennial in mind.
Who Coined The Phrase?
The term millennials was first used by Neil Howe and William Strauss. These two men are historians. Together, they wrote the book “Generations,” a book that charts the history of America through biographies of cohorts. The term was coined back in 1991. Who could have known the importance this term, and this generation, would hold only a few short years later by defining social media marketing?
Why Are They So Important?
Many marketers may wonder why it is so important to market to this particular generation. Millennials are important for many reasons. Aside from being the largest generation, they also have $200 billion dollars in buying power, and that expense tracking number is growing. Additionally, this group is known for being full of influential trendsetters. Their sharing on social media provides you with free marketing. If you can properly market to a millennial, you will benefit in more than just sales.
What Makes Them Different?
Millennials are the technology generation, and that impacts their buying habits in multiple ways. Their constant connection through phones and tablets makes them informed buyers. They value reviews and honest opinions far more than traditional advertisements. Even more importantly, millennials hold the brands they support to a high social standard. This generation cares about social activism and giving back, and they will be much more likely to support brands that hold those same values.
How Can Marketers Reach Them?
Millennials are not as elusive as some marketers may believe. In fact, they are very well connected to brands and companies that they enjoy. Combined with customer management software, social media provides the perfect platform for reaching this generation specifically. Twitter, Tumblr and Instagram are particularly popular amongst this age group. YouTube is another excellent platform that opens up a world of promotional possibilities. Social media influencers often complete brand deals and advertisements online to help marketers reach those who do not care for traditional methods. If you want to reach this group, you will need to boot up your computer and establish an online presence.
The next time you ask yourself “what is a millennial” refer back to this post. By answering these four questions, marketing professionals can better understand this important consumer and entrepreneuring group. Reaching millennials through social media and understanding their values all starts with one simple question. Remember these definitions and tips the next time you are looking to market to that generation.
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