Do You even Have a Marketing Strategy for the Millenial Generation?

Don’t Underestimate the Influence of the Millenial Generation
The Millennials, a generation consisting of individuals born between 1977 and 2000, are currently aging into their peak earning and spending years, it is important for businesses to learn how to market to this powerful demographic, Who also have purchasing influence with their parents.

Millennials have a in-depth knowledge of social, local, and mobile technologies, they only know about phones being pluged into a wall from watching old TV shows or movies, the whole idea just seems so last century to them. They are considered to be experts in social media and new technology despite a lack of “formal training”.
To understand how to market to Millennials, businesses must understand that they value.
Millennials value the thoughts and opinions of their peers. Having that endorsement from a friend ranks high in importance when asking for advice on a new product and/or service. Millennials are able to reach out to their peers and have a discussion instantly ( since over 60% of them have smart phones now ) text or social media.
Millennials have more friends on social networking sites than other generations. They tend to rely more on blogs and social media sites for news and information. Because Millennials are so actively involved in social media, they expect brands to have appropriate levels of interaction and presence.  Millennials are also more inclined to voice their opinions online, whether it be to rave about that new restaurant or product or complain, and with all those friends increases the chances of going viral.
With new technology, Millennials are much more likely to be early adopters. This generation grew up in a world of rapidly developing technology. Millennials are less concerned with the old adage of “If it isn’t broke, don’t fix it.” Instead, Millennials welcome the latest version of the IPhone even if their current version is functioning just fine. Similarly, Millennials have a social conscience and the desire to affect the world around them. More often than not, when a brand makes an authentic and transparent effort to support a cause that aligns with their values, Millennials will support the brand.
It is apparent if you want to gain the market share of the influential Millennial generation a website presence is not enough. You need to be blogging, and not only have a presence on social media networks but be interacting on social media as part of your Marketing Strategy, if you want to earn their business.

Author: Rick Chapin

Having spent most of my adult life engaged in sales and marketing as well as a decade of preparing income tax returns for small businesses, individuals and real estate investors. Running your own business is not easy, you must utilize all the tools available to aid in your business development, I believe your personal development is equally important. I have for many years had knowledge and interest in small and medium sized businesses as it relates to allowable deductions, tax deferred exchanges and other tax treatments, I have also, for many years invested in books, tapes/cds for inspiration and motivation, so it seemed a natural fit for me to become involved in aiding in people in business development as well as their personal development.

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