Marketing to Millennials
Marketers have a new obsession: “Millennials” and how to reach them.
The Millennial Generation is generally defined as U.S. consumers between the ages of 18 and 34. But before you reach them you have to understand them. The Boston Consulting Group prepared an excellent report outlining what marketers need to do to effectively communicate with Millennials. Here are some of the highlights:
Millennials engage with brands far more extensively than older generations, and they expect their values to be reflected in the brands they purchase. Social media and mobile devices amplify and accelerate the impact of Millennials’ brand choices and feedback.
Millennials want and expect a mutual relationship with companies and their brands. Instead of a process that is led and pushed by companies, companies must master the concept of “reciprocal marketing,” which requires building an ongoing relationship through individual and online community communications, social media, and advocacy programs.
To engage with Millennials where they are, a brand must be present across the full range of media. They must know which media, channels and devices work best at conveying promotions, messaging, and brand personality to Millennial targets, and they should use each to its unique advantages.
To reach Millennial consumers, companies must make sure that their marketing communications are optimistic and positive in tone. They should also visually portray the generation as broadly diverse and inclusive. Companies targeting Millennials in certain sectors should not ignore the marketing value of testimonials from celebrities and partnerships with Millennials’ favorite or aspirational brands.
The Boston Consulting Group’s research found that, “Millennials perceive themselves as particularly in tune with what they consider to be authentic and real. Millennials tell us that the most common mistakes of non-Millennial creative agencies and executives are marketing campaigns that come across as fake, overly forced, condescending, or off key. Therefore, marketing language, brand personalities, company-supported causes, and endorsements need to be credible. They should be based on what the brand has stood for historically, and how the product and experience deliver on that promise.”
© Prepared by LoBo & Petrocine Marketing Communications, a Melville, Long Island advertising agency serving a wide range of clients in education, finance, healthcare, natural nutrition, hospitality, the automotive industry and more.