When you target a particular group of people for branding and marketing, it requires some specific set of skills. Primarily if it is based on targeting people of specific age groups, knowing about their habits, likes, dislikes, quirks, and traditions inside-out becomes crucial.
When you understand the basics of what branding means, you can step further to designate your marketing strategy to a specific set of people of a particular generation, millennials in this case.
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Who Are the Millennials, and Why Should a Brand Focus On Them?
The generation of people from 1981 to 1996 aged in the range of 26-41 years is called the millennials.
Many recent marketing-related researchers have shown the fact that there are various positives to focusing on millennials. According to statistics, 50% of the workforce in the United States alone are millennials,which will rise to 75% within the coming decade. It is somewhat the same in other countries. They have the most significant buying power compared to different other generations. Therefore, it is evident that companies can get a hold of a significantly large customer base which in turn helps them to attain accomplishment. Millennials are usually in their prime years of spending; hence, they always have a considerable impact on the economy and retail scenario.
Growing up in an age of digital development, this generation has the power to reshape the consumer landscape allowing brands to procure newer techniques to do marketing in particular and business in general.
Essentials to Know About Millennials Branding
The millennials are the largest workforce group in the contemporary world, with maximum buying power. And to appeal to them with their content, services, or products, brands need to understand their hallmarks and requirements in marketing and communications.
The Common Traits of Millennials
Millennials are probably the most diverse generation, and their interests, personalities, behaviours, and involvements depend primarily on their current life stage. For example, the attitude towards life of a millennial of age 26, who just got his first job, will be different from a millennial of age 40 who has worked in a firm for several years and has a family to look after.
They were bought up in an age where digital and technological developments were common; hence, they are believed to be more habitable with it than the older generations.
A familiar characteristic of millennials is that they are unique, which reflects in their shopping behaviours, having a clear say about every social, political, and environmental factor. Therefore, their staunch opinion reflects whether they will engage themselves with a particular brand or not. Hence, we can say that their acceptance or rejection of a brand is pretty apparent.
They certainly value brands that prioritise their values and beliefs. The brands need to put extra effort to attract millennials and be aligned with their principles and values.
The Marketing Approach to Millennials
Millennials are persistent with their values, and companies must cash in on this fact. They will judge what exactly they get if they choose a brand. And how will it make any difference to other brands available in the market? And this is where a company must showcase their services and products that prioritise this generation’s primary values.
For example, a recent report by Nielsen has shown that Millennials are more than ready to support a brand that assists green initiatives or initiatives to improve the environment. They would also love to help brands that have local or regional roots. Therefore, this generation loves to spend money on a company they connect with and see what sets the company apart from the others.
The Online Presence of the Millennials
Knowing how a generation spends their maximum time online to set up an excellent marketing strategy is remarkable. This generation has the highest social media use, accounting for up to 90.4%. On average, they spend almost 3 hours on different social media platforms daily, which is around 20 minutes more than the global average.
Therefore, marketing in social media has become an absolute necessity, mainly targeting millennials. Social platforms have also become a giant shopping window where people come to know about new brands and their offerings, research their products and then finally go for it. The leading social media platforms used by millennials are Facebook (83%), YouTube (77%), Instagram (63%), and Twitter (48%). Snapchat and TikTok follow with 30% and 16%, respectively. According to a study by Morning Consult, the most fruitful way of marketing a product can be done through a well-known influencer’s posts on different handles on social media. Influencers play a significant role nowadays in successful brand marketing to millennials and other younger generations.
How Influencer Marketing Has Provoked Millennial branding
Millennials find traditional marketing systems less trustworthy and have further acquainted that they find recommendations from their favourite influencers far more trustable than the recommendations from the existing brand.
The primary positive of influencer marketing is that you can be connected with your target audience with the help of the influencer’s followers, who have a jolly online relationship of trust. Collaborations with influencers can primarily affect the consumer’s thoughts on that brand. 58% of millennials have shown a positive view of brands that uses their favourite influencers for marketing.
The Importance of User-generated content and Entertainmerce on Millenial Branding
More than 84% of millennials have agreed that they become attracted to a company’s website if they provide user-generated content, influencing them to buy the product or opt for the services. And 57% of them report that they get to know about newer fashion trends on social media platforms, mainly when influencers market them.
Have you heard of Entertainmerce before? It is the juxtaposition of entertainment and e-commerce. A brand’s shopping experience and marketing approach, especially online, should be fun and exciting for the target audience. 29% of millennials confirmed that they become influenced to buy a product if the buying experience and selling approach are entertaining.
Conclusion
This generation generally values honest, unique, subjective, and valuable content. They are the fundamental force behind the modification of marketing and branding tactics of companies on the whole. We are confident that this particular will help you in the future with your millennial branding ventures.