Known as the â€œme generation,â€ millennials have been inaccurately labelled as lazy, reckless, temperamental, and disloyal. Let us debunk some myths that plague the millennials and for all the names and the tags they get, thereâ€™s no denying the power they wield. With their numbers swelling up, they are undeniably the most influential generation to date and have the most purchasing power as compared to any other generation. Therefore, we are not surprised with the number of ads, marketing campaigns and content the millennials are incessantly bombarded with.
What do these millennials do and why and how are they so good at it? Letâ€™s find out!
Millennials read blogs, read and watch reviews before they buy
With information available in plenitude, people have more ways to research and educate themselves on the products theyâ€™re interested in before they shell out the money. The percentage of millennials making these purchases are sky rocketing and they donâ€™t just do it at a click. They spend time researching before they make the purchase and this is also one of the reasons why you see them hooked on to their phones most of the times. A very big percentage of millennials use their phones to research prices and to read reviews. They are NOT impulsive buyers. Most prefer reading blog posts before they buy vs. the ones who rely on the traditional forms of advertising like TV and magazines. They like to research and they want to make sure theyâ€™re getting the best price for an item, and thatâ€™s why they leverage a lot of these channels to find the information.
Millennials rely on their network for recommendations
Word of mouth is a powerful source of marketing and a staggering percentage of millennials buy based on word of mouth and recommendations from friends and the growing influencer culture which has taken the social media by storm. While scrolling their Facebook news feed, or their Instagram, users are bombarded with ads and promotional content. While most people scroll right past, let alone click on the content, what gets millennials pause is the sight of interesting content from their network of friends. For instance, if someone sees a friend using a new phone or trying out a new restaurant, theyâ€™re more likely to stop scrolling to find out more about it.
Millennials are concerned about health issues
There was a time when fitness, health and good physique was only restricted to super models and athletes but not anymore. Eating good and looking even better is the new normal and more and more millennials are conscious of what and how much they eat. Theyâ€™re very keen to know the latest food trends and they like to research the benefits of natural, organic foods and the impact of production and its delivery on the environment before they make a purchase. Theyâ€™re increasingly leaning towards recycled stuff and the companies are also responding to this change by offering healthier solutions.
Before youâ€™ll realize, millennials will rule the roost. There are millions of them around the world and so are the products. Know your specific target audience, get to know their needs and expectations and once you have these insights, you can tailor your ads and content. If the world is their oyster, then you be the pearl in it.