As an integrated marketing agency, we know that our industry is continually evolving and developing with the times and it’s our job to remain at the forefront of this change and innovation. With this in mind, in this blog, we investigate the buzzword in marketing at the moment– Millennials.
Firstly, who are Millennials? The term denotes a person who reached young adulthood around the turn of the 21st century; they were the last generation of people born in the 20th century. These people grew up in a world which was filled with electronic devices, increasingly online and connected by social networks. For these reasons, they are very different to their predecessors.
In 2015, Pew Research reported that the Millennial generation had officially surpassed Generation X as the largest group represented in the U.S. workforce. According to Hubspot, Millennials have an annual buying power of $200 billion (in the US alone!) So, it’s no wonder that marketers wish to exploit this powerful and highly lucrative market. Thus, Millennials have received the most marketing attention in recent years.
With fresh outlooks, concerns and expectations, Millennials pose a new challenge for marketers. To effectively communicate to this generation, current marketing methods are being adapted.
Traditional Ads Are So Last Year:
Research has shown that Millennials are unimpressed with traditional outbound marketing methods, such as magazine ads and direct mail. This is largely because they don’t trust them. Growing up in such a fast-paced and interconnected world, Millennials are in constant contact with each other on levels that no traditional advertising campaign can match. They are tech-savvy and thus, use every tool at their disposal, such as research and reviews, before making a buying decision.
It’s essential that businesses find ways to connect with Millennials on their level, to gain their trust. Social media is one such way – using these platforms you can interact with global audiences, answer questions in real-time and develop a loyal following.
Organic & Honest Content is a Must:
In marketing, content remains as important as ever. Millennials appreciate content dedicated to improving customer’s lives; they will see right through commercial, generic and untargeted content.
So, businesses are starting to focus less on pushing selling and more on creating honest and transparent content experiences for consumers. Using subtler marketing techniques, companies are hiding their commercial imperative and instead focusing on telling real stories with real people to lure consumers.
Millennials Just Wanna Have Fun:
With expectations higher than ever, marketers are having to work harder to wow Millennials. Millennials appear to crave the experience of shopping more than the purchase itself, so brands must develop fun, creative and meaningful content that is worth sharing.
Companies such as Coca-Cola and Cadbury, have responded by launching fully-immersive ads that create unique experiences with compelling visuals, resonating messaging and engaging interaction for consumers.
Also, virtual reality (VR) technology as a marketing technique is becoming increasingly popular. VR not only allows companies to connect with customers on a more intimate level, but it also allows viewers to be totally immersed in an imagined world. Thus, it resonates with the Millennial generation. (For more on VR, read our blog)
The nature of media, digital and advertising is constantly changing. However, it is important to remember that while marketing methods need to evolve with the customer, we shouldn’t abandon the practices of past generations. The key is to strike a balance, combining old and new strategies to ensure that your marketing resonates with a large and diverse audience. Devising a combined marketing strategy is something that Zool can help you with!
Zool is a multi-channel marketing agency, specialising in SEO and content marketing. To learn more about our services, please get in touch on 01625 238770 or email us at firstname.lastname@example.org.