As marketers, we get into the habit of profiling our target audience. We like to delve into what makes our current and potential buyers tick. What do they enjoy? What are their goals and challenges? How can we relate to their needs and deliver solutions to their problems? Relating to our audience has always been a cornerstone of planning successful marketing strategies.
Technological advancements over the last several decades have produced a unique generation. For the first time ever, individuals born in the early 1980’s to the mid 1990’s have grown up with technology at their fingertips for their entire lifetimes. Deemed, the millennial generation, this group of consumers has become a dynamic member of today’s economy.
An article published in December of 2017 by Forbes revealed that millennials stand to inherit a whopping $30 trillion from their baby boomer parents, which may be the greatest intergenerational transfer of wealth on record.
Outlined below are several statistics cited by Forbes about the millennial generation that lend useful insight into how marketers might be able to communicate with them best:
- More than 85% of U.S. millennials own a smartphone, which they touch 45 times a day.
- Millennials are 56% more likely to discover content on social networks than via search engines or email.
- Well over half of millennials are active on all four major social platforms: Facebook, Twitter, Instagram and LinkedIn.
- Two-thirds of U.S. millennials follow companies and brands on social media, and 79% of millennials researched a charity before donating to hurricane relief efforts this year, more than any other generation.
Often deemed as ‘the selfie generation’, millennials also value charitable giving. The Case Foundation’s Millennial Impact Report outlined that 84% of millennials made a charitable donation in 2015. In addition, 70% of them indicated that they volunteer their time!
The more you can learn about your target audience, the better you can cater to their needs both through your product and service offerings and through your marketing communications.
As you prepare for new product launches, introduce upgrades to existing offerings, and consider possible methods of marketing to your specific audience, take time to think about their habits, needs, and desires.
Maybe you’re planning your organization’s marketing strategy for the next quarter. Or, perhaps you are considering leveraging a social media strategy. Need a little extra help? Contact the team at Sire today to put your best foot forward! We’re always here to help!