By now, smart businesses realize the Millennial generation
isn’t just a bunch of hipsters with smart phones taking selfies but rather a generation
of consumers 86 million strong— that’s 7% more than baby boomers—and they’re
ready to spend money.
In fact, businesses that don’t start tailoring their
marketing to Millennials soon are missing out on a major consumer opportunity from
a generation with an expected
$2.45 trillion annual spending power by 2015; and that figure will surpass
boomers’ spending by 2018. The bottom line: Businesses must connect with millennial
consumers now because these young adults are the major consumer group of the
present and future.
It’s easy for companies to get lost in a world where the
term “social media marketing” is used loosely and the major strategy behind
marketing to Millennials is the idea of making something “go viral.” If you
want to win big with Gen Y, then you need to change your marketing ideas all
together. Here is what you need to keep in mind when targeting a Millennial,
from the perspective of a Millennial:
