Millennials are coming to that age now, where they are going to make up a large portion of the market. They are graduating college, taking over the workforce, and are coming out to face the world. Make sure your brand is fresh on their mind as they make their rise. Millennials are a unique generation whose like has never been seen in any previous generations, and thus require a specialized marketing approach. This guide aims to provide insight on marketing strategies and tactics to catch the interest of this emerging market leader.
Real quick, here are some facts:
1. In early 2015, the Millennial population surpassed the Baby Boomer Generation. They are projected to make up 46% of the workforce by 2020.
2. Millennials account for an expected spending power of $2.45 trillion annual by the end of 2015. Projected to rise to $3.39 trillion annual by the end of 2018.
3. There are 344 million Millennials in North America, 529 million Millennials in Europe, and 4 billion Millennials in Asia.
The Three E's.
This is a market that is worthy of more than a quick glance. Brands need to follow the three E's when approaching Millennials. The three E's are emphasize, empower, and exemplify. The brands need to emphasize a stong social media, empower itself with referrals, and exemplify authenticity. These tactics have been established through extensive research on Millennial social habits and their migration to social media.
Of course we are going to share what we have gathered:
How to get the job done right:
When companies begin to market towards Millennials they tend to make the mistake of asking "What can we create to show them?" rather than question is "What do they have for us to share?" Essentially that is what social media is, a large sharing platform to tell stories.
Well in the case of Millennials, the story must be authentic for them to find it favorable. Much like the feed they recieve from their friends, they want to see content that they would be proud to share to their peers. This is where user generated content (UGC) comes into play. There are no greater authentic stories than real-world stories. Fortunately this phenomenal content is posted daily through social media sites such as Instagram, Facebook, and Twitter. However companies can not just swipe this content from user's accounts, the content must first be licensed and vetted. That's where Twenty20 is here to help. With an in house team to license and vet photos, finding authentic photos is not a problem. So be sure to take advantage of this in order to push out authentic content to catch the initial attention of the rising Millennial market.
Check out some authentic photos below: