Generational Marketing Part 2: Reaching Millennials
In part 2 of our 4 part series on generational marketing, the pros at our digital strategy company take a closer look at Millennial consumers. According to Statista, Millennials were the largest generational segment in the United States as of 2019, with over 72 million Americans falling into this group.
“Millennial” is a descriptor that encompasses all individuals born between the years 1981 and 1996. They are not only the largest generation, but they are also known for being tech-savvy. As such, they are a prime target for digital marketing efforts.
How Millennials Think
Unlike Gen Z folk, who were born into the post-digital revolution world, Millennials had the opportunity to witness technology grow by leaps and bounds during their adolescent and teenage years.
This unique experience led many Millennial consumers to be more tech-savvy than their Gen X and Baby Boomer counterparts. However, they are not as heavily reliant on digital devices as Gen Z.
In addition, Millennials tend to be less prone to splurging on big-ticket items. This hesitancy can likely be attributed to the major rise in housing, education, and healthcare costs that occurred during their early adult years.
Millennials tend to be very health conscious as well. This trend has fueled the growth of the massive health and fitness industry, which includes home gym manufacturers, supplement companies, and food prep businesses.
Millennial Consumption Trends and Preferences
Millennials tend to be much more focused on experiences rather than possessions. Specifically, Millennials tend to spend much of their income on things such as:
- Socialization opportunities (bars, restaurants)
- Takeout food
- Health foods and supplements
- Services (gym memberships, streaming subscriptions)
Millennials spend far less of their income on more traditional forms of entertainment, such as subscribing to cable or visiting movie theaters.
Much like Gen Z folk, Millennials gravitate towards online shopping. According to recent research, 53% of Millennials consider online shopping as their preferred way to purchase goods or services. Millennials are also more likely to perform their shopping via smartphones when compared to Baby Boomers or Gen X.
Best Practices for Millennial Marketing
When creating your digital marketing strategy, we recommend following these proven best practices if you want to connect with Millennials:
Provide a Dynamic Experience
Millennials expect a dynamic website experience when visiting your company’s page. In order to provide a dynamic browsing experience, you must ensure that your website functions optimally on both desktops and mobile devices. You should also pack it full of captivating content that is eye-catching and attention-grabbing.
Leverage a Multi-Platform Approach
Most millennials consume marketing content across various devices and channels, which is why you need a multi-faceted advertising approach. This approach means utilizing paid search, SEO strategies, and more. By diversifying your marketing strategy, you can expand your reach and connect with Millennials across multiple touchpoints.
Be Active on Social Media
Millennials are second only to Gen Z folk in social media usage. In light of this fact, any effective Millennial marketing strategy must incorporate social media-based advertising.
However, this does not mean that you have to be active on every social media platform. Instead, focus on a few platforms that are most popular among your target demographic.
Bridge the Marketing Divide with Insights ABM
While the information above can help you better understand the mind of millennial consumers, that is only the first step to creating an effective digital marketing strategy.
Growing your online presence and expanding your reach requires a cohesive, multi-faceted approach that leverages social media channels, paid search, SEO tactics, and other proven strategies. Fortunately, you do not have to tackle this monumental challenge alone.
Insights ABM, Dallas’ top digital strategy company, offers a comprehensive suite of services designed to help your business achieve its true potential. If you would like to discuss your goals and find out how Insights ABM can help you achieve them, schedule your free consultation.