Marketing to any generation can be a difficult occupation but marketing to the millennial generation can be almost impossible.
The USA is home to 87.5 million Millennials (ages 18 to 29). The younger demographic values authenticity and their peers’ opinions. Consider that 84 percent of millennials say that user generated content influences what they buy. Plus, 82 percent are comfortable enough with brands to interact directly with them.
Though they may get a bad rap for being unmotivated and a little too dependent on their parents, there’s no denying the buying power of a generation that boasts 87.5 million Americans.
In the infographic below, the University of Southern California’s Online Master of Science in Applied Psychology program took a closer look at the psychology marketers must leverage in order to successfully market to this growing demographic in America.
Secrets to Effective Millennial Marketing
While mobile devices are the best channels for reaching Millennials, you should have a multi-platform marketing strategy since many Millennials own multiple devices. For instance, 55% watch video content on multiple devices. Customization should also be part of your marketing strategy because 85% of Millennials are likely to purchase personalized goods/services. Another factor to consider is authenticity since Millennials tend to dislike deceptive advertising. Publishing informational blogs can also help you reach Millennials given one in three Millennials use blogs for research purposes before making purchases.
American Millennials are a key consumer demographic for online marketers, thanks to their tech savviness and ability to consume web-based content. In addition, they are more likely to spend money purchasing goods and services compared to Gen X and baby boomers. Finally, they are more likely to use smartphones and tablets to make online purchases.