Millennials are the new face of America. So when it comes to connecting your brand to this generation the following is true: Pay attention or be left behind. We've chosen this FRESH topic to shed some light on this important group, and to help you get a flavor of what's happening and why it matters to you.
Millennials are classified as those born after 1980--the first generation to come of age in the 2000s. Let's get some facts straight. Here are 10 facts from the White House on Millennials:
- Largest and most diverse generation
- Shaped by being birthed into technology
- Value family, community and creativity in their work
- Invest in human capital more than previous generations
- Reliant on loans for education
- Study more, work less while in college
- Employment negatively effected by recession
- Women are better educated
- Getting married later than other generations
- Less likely to be homeowners than previous generations
THE MILLENNIAL ECOSYSTEM
Millennials aren't just customers. They're the new generation of marketers, too. This double impact has a global impact and is sending marketing strategies on an entirely new trajectory. Big brands are not only taking notice, they're also taking action.
For example Visa is tirelessly exploring its relationship with millennial audiences by engaging startups who can help them tap into this audience. Through a relationship with our partner, KITE, Visa offered a $50,000 bounty to the perfect startup who could help influence and improve their relationship with millennials.
As professional marketers, Millennials are using the tools they themselves use in daily life to connect with customers, resulting in the explosion of storytelling content, video, imagery, user generated content with an immense emphasis on social media. Born into video and social, they're defining the status quo for marketing.
As consumers, Millennials are engaging in more two-way conversations with brands than ever before. They expect to be heard, and to participate in the shaping and direction of brands and the world itself. Instead of being marketed to, they expect engagement, to see themselves in products, and to have discussions around brands. This is social.
WHAT WE'VE LEARNED
Our work with Sephora has provided us with hands-on insights around many particulars related to this audience. Sephora continues to do an excellent job of engaging audiences through common social channels like Facebook, Twitter and Instagram. But more importantly, Sephora has done a beautiful job of creating customized content that helps Millennials feel heard and has created two-way conversations through experiences like Beauty Insider and Beauty Board.
Marketing with and to Millennials isn't just a casual stroll through the park. Technology is evolving and new innovations are changing the way we market, sell, connect, and communicate daily. For brands, what's true is that we all need to stay connected to what new trends are and to have our finger on the pulse of every morning. If you're trying to do anything with your brand, consideration of this generation must be a key element to your strategy.
We'd love to share our insights with you. Keep things FRESH.