Millennials are defined as the generation that was born between 1982 and 2000. The group as a whole grew with technology being a part of their lives and as the youngest members of group are just coming of age they are starting to embrace their spending power. Millennials shop differently than previous generations and they have taken the blame for killing off a variety of industries. That being said if you’re marketing to millennials you need to know what makes them tick and how they buy.
They Understand Technology
While the older members of the millennial generation are the last to grow up without a smart phone in their hand, by and large they are pretty tech savvy. The younger generation of millennials, those born closer to 2000 did grow up with computers in the home and classroom and with the internet and social media being an integral part of their lives. They do live with their phones in their hand and they communicate differently than previous generations. Here is a look at how technology has affected millennials and their careers.
Millennials and Digital Advertising
Do millennials pay attention to digital advertising? The answer to that is complicated. Growing up with digital media means they have been looking at digital ads their entire lives giving them a degree of ad fatigue. They are less likely to pay attention to click bait headlines or banner advertising, yet they are more inclined to shop online. That means your advertising needs to be creative to get their attention but without hype and straight to the point.
Millennials live at home longer, they aren’t buying homes nor are getting married or having children until they are much older. This generation is faced with heavy college debt and bleak economic conditions and it has made them very cautious with their money. They are also more aware of social issues than previous generations and they worry about things like climate change and social justice.
They are less likely to eat at McDonalds and more likely to buy a hybrid car than an SUV. They will watch hours of YouTube but not own a television. If you want to market to this generation you need to first make sure that your product will capture their interest. Then you need to reach millennials where they hang out. Traditional TV commercials won’t work but clever digital advertising like video ads or ads on social media platforms do.