As one of the most used generational buzzwords, the term “millennial” has a negative connotation for some. The outspoken often stomp out the positive, but marketers still see the potential earth-shattering power of the millennial opinion.
Some reports say marketers are spending 500 percent more on digital and social advertisements targeted at millennials than all other demographics combined. The age group is estimated to have $1.3 trillion in annual buying power, which is a lot of opportunity for your brand.
There is a new article or report published every day discussing how best to market to millennials. Some say content is king while others say they want experiences. The list goes on, but as a millennial myself, I don’t think there is one straight answer. I love a witty Instagram or tweet, but I also enjoy in-store experiences and music festivals.
It will be important for marketers and communicators to segment millennials into smaller cohorts based on behavior and values. We are definitely NOT all the same. A more defined and industry-accepted breakdown of the millennial demographic needs to be made for brands to successfully target and convince millennials to choose their brand.
Tell us on our Facebook page how you are targeting millennials in your marketing. What’s worked and what hasn’t?