03 Mar Personality Traits of Millennials: How to Market to this Generation
Millennials: The term is used way too often, but do we really know who they are and what they stand for? This age-group anomaly continues to become increasingly important because they are the focus for brands everywhere.Ranging in age from 18 to 34, this demographic is responsible for the majority of purchases of everything from groceries to automobiles and have started to settle down with careers, homes, and kids of their own. These changes bring greater spending power for this demographic, which Accenture estimates to be around $600 billion a year. Unlocking the secrets of what they want, how they want it and when they want it is extremely crucial to any brand because this crowd is the target audience for longterm success. Breaking down the personality traits of millennials are the best way to market to them and start building a solid relationship and life-long customer.
Personality Traits of a Millennial:
- Masters of the art of multi-tasking: They are the first generation to grow up digesting and assimilating mass quantities of information at a time. Therefore, it’s important to make sure your content captures millennial’s attention and then keeps it
- Tech-savvy: Does your company have a website? Great. An app? Even better. We are all surrounded by technology and millennials spend 5-10 hours a day consuming copious amount of online content. So creating a brand experience within this digital world with relevant content is the first step in captivating this generation.
- Browsers not Buyers: Millennials spend more time browsing the internet for products than actually purchasing them. This means that businesses need to nurture these browsers so that they will buy the products that they love to look at.
- Creative problem-solvers: With less linear techniques than previous generations, Millennials want to reach a decision fast and on their own terms.
- Advice-Seekers: Millennials unfortunately don’t trust a brand’s message. When deciding what to purchase, this demographic seeks opinions of friends, family members, or even strangers before making purchasing decisions. It’s important to rebuild trust with relevant content and user-generated content.
- “Famously Frank:” We borrowed this term from our friends at AdWeek, but loved how well it described the true Millennial. They are not afraid to go for what they want, and are very direct in their means of doing so. Seldom will they sit back and watch someone else take advantage of an opportunity they believe to be theirs; they are the true “go-getters.”
- Strive for transparency: This generation wants to know everything and with no arising surprises that could deter these planners from their paths.
- Price Picky: Goldman Sachs discovered that 57% of millennials compare prices in store. There is a plethora of information out in the world with reviews and price comparisons in the palm of their hands, therefore it is impossible to hide competitive pricing from them. However, 59% of millennials agreed that product quality made them brand loyal over price. So we’re saying even if you don’t have the most appealing price, your product still has a chance.
- Socially conscious: They believe they can change the world in a pseudo-optimist/ realist kind of way. Millennials are pragmatic in supporting causes, and will give their all to whatever that may be.
How to effectively market to the many personality traits of Millennials:
- Have more than one kind of media on your page (text, video, gifs, etc.) to make it most appealing to the multi-tasking millennial mind.
- Consider an interactive format where the audience engages with the material instead of just reading or watching.
- Viral marketing (making your material so interesting and different that it begs to be shared)
- Refreshingly honest copy
Unmasking the mind of Millennials is the first step to figuring out what makes this generation tick, which provides unlimited insight into their marketing needs. Once businesses discover this, they will have longterm customers with the most powerful generation we’ve seen thus far. Inbound marketing is the best way to capture millennial’s attention through blogs, podcasts, videos, and many other options. Our free checklist dives into how inbound marketing is being used to attract individuals and convert them into lasting customers. Download your free copy to start attracting the largest generation in US history to your business.