As one of the fastest growing demographics in consumer spending, Millennials are actually expected to surpass spending of all other demographic groups by 2018. Therefore, your business requires a strategy for how to effectively market to this group of already marketing-savvy individuals. Coined the “me” generation, this element of “me, myself and I” is what you have to consider when creating your strategy.
As one of the fastest growing demographics in consumer spending, Millennials are actually expected to surpass spending of all other demographic groups by 2018.
This generation isn’t looking for a story, they want to create the story with you. Involve them by asking questions, creating surveys and making polls over social media. They want to know that their voices are accepted and appreciated. Millennials enjoy providing feedback and many feel it’s even their responsibility to do so.
Millennials enjoy the finer things in life, but they expect it to come at the lowest price possible. Many of them graduated into a recession, leaving them stingy with their money. They expect brands to indulge and court them with deals and rewards programs, but they also expect these to be highly personalized to their likes.
With a generation that has seen it all, it’s difficult to engage them with something “new.” This involves innovation. Developing marketing campaigns that have the element of surprise will get the Millennial generation’s attention. Innovation can take place in the form of the message, the platform or even your business’s product.
By: ParadigmNext http://paradigmnext.com
ParadigmNEXT, Inc. is a digital agency headquartered in Chicagoland. We provide branding, identity, integrated marketing, social media strategy, art direction, web-design & development, startup incubation, commercial video production, product development, and commercial storefront development services to a wide array of clients ranging from bootstrapped startups to successful longstanding companies.