Marketing your product to different generations can be difficult. Marketing to millennials is even harder. While marketing to Baby Boomers is direct and by the book, committing resources to advertise to millennials and even the later generations is more rigorous and requires more review. Millennials make up a sizable amount of the spending and earning population. There are currently 72 million millennials living in the USA. It is the biggest age group that exists in the United States. It is also the highest tax-paying group by far.
There are a million challenges when it comes to marketing to millennials. Factors such as diversity, anti-consumerism, and post-modern sentiments envelop the package that is the millennial mindset. They are least likely to buy, hard to please, and highly suspect of products that do not suit their moral compass. Boomers and Gen X-ers are very by-the-book and very easy to please. They are generally more predisposed to the effects of marketing efforts. Millennials are highly suspicious of most advertising methods. Amidst the growing capitalism and consumerism, millennials are more conscious about their effects more than any other generation.
How can you successfully market your product to the highest-earning and highest-spending consumer group?
Knowing Your Demographic
It is imperative that you intensively research your demographic, especially when it comes to millennials. These people are considered the hardest working bunch amongst all the other generations. They mostly comprise the majority of the workforce. Most millennials are already in their 30s, contrary to the average boomers’ projection of them. To describe them more casually, they are already in the process of reviewing and revising their mortgage financing for their home, and not mere first-time buyers. They have developed a certain type of immunity and maturity against traditional marketing efforts after being exposed to them for their entire lives. Wary about contributing to the destruction of the planet, they are more conscious about companies that impose the greatest harm to the environment. Even traditional and well-loved brands from decades past are having a hard time connecting with millennials.
Because of the repeated exploitation of the labor force and the environment, the “Cancel Culture” does what it does best. Calls for boycotts of certain companies have been gaining traction through the years. Unethical schemes are being called out. Most of these originate from the millennial group. Millennials are known for being tolerant of most taboo topics for older generations. Notions and biases against minorities are already lessened if not gone. Keeping your nose clean, and your methods ethical plus tidy will keep your business away from trouble.
Knowing What Works
Due to the careful and suspect nature of the millennial, they are only known to respond to authentic and covert digital marketing strategies. Millennials value communication and authenticity above all else when it comes to choosing products. They dislike traditional advertising as it does not conform to how genuine the corporations communicate. Experts and influencers are relied upon by millennials as authorities when it comes to choosing products. They value genuine experience more than flat out advertising. Actual breathing persons are more relatable than faceless entities and corporations.
Brand engagement is almost always on the upward trend when products are advanced by experts, known personalities, and influencers as compared to when promoted through traditional marketing. Valuing incentives and utility, they engage more with products that can provide them with the most usage and benefit. Sprinkling your product with incentives left and right will boost its popularity with millennials. Personalized or customizable features in products will help increase the popularity of your products. A market full of millennials wants to feel special, involved, and engaged with the things they own. Increasing the accessibility to customizable features will provide the enough control and ownership over the product you are marketing.
Knowing What Avenues To Take
Once you figure out the dos and don’ts of millennial marketing, the only thing left for you to do is to find out which avenue to take to tap and access that demographic. Going digital and covert is the best way to go when marketing to the millennial. As one of the most diverse and open-minded demographic groups amongst the population, it is very difficult to pinpoint a specific method that will work for the entire age group. Being digital and covert will bring about the specific target market in mind. Rather than an automatic machine gun that will spray bullets all over hoping they hit something, millennial marketing requires surgical precision. Spraying and praying will not work.
Millennial marketing is truly a perplexing topic to conquer. Rather than adhering to traditional methods, millennials always choose to be different, subtle, and anti-structure. Be guided well when it comes to marketing and advertising to the demographic as they are a punishing group to deal with. Yet, once you hit them correctly, it can be very rewarding.