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UNDERSTANDING THE MILLENNIAL
The Millennial BuyerCreating content that is relevant to Millennials is extremely important since because they make up almost a quarter of the US population. To successfully reach them, you need to understand what makes them so different from other generations. This ethnically and racially diverse group values community, cares about the environment, and engages with mobile apps more than the rest of the population. Having a great deal of purchase influencing power, so it is essential for brands to create content with Millennials in mind. Use the following Millennial buyer persona and strategies to help understand how to generate meaningful, memorable and relevant content to capture the attention of the Millennial buyer.
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The FactsThere are 77 million Millennials ages (18 and 36) in the United States;
this comprises 24% of the US population
• Aged 18-36 (Broken up into two groups, younger: (18-27) and older (27-36)
• Strong understanding of social and community
• The median income for younger Millennials is ( $25,000) while it’s almost double that ($48,000) for older Millennials
• Millennials account for one in every five same-sex couples
• Only 21% of Millennials are married
• Almost 1 in 4 (23% to be exact) have a bachelor’s degree or higher, making Millennials the most educated generation
• Millennials are the most ethnically and racially diverse generation, with 19% being Hispanic, 14% African-American and 5% Asian
• 36% of Millennial women have had children
• About two in three Millennials are US-born
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The Facts• An impressive 38% of Millennials are bilingual, up
from 22% in 2003.
• 71% of Millennials appreciate the influence of other cultures on the American way of life.
• 52% of Millennials consider being a good parent important.
• 63% of Millennials think they’re responsible for taking care of an elderly parent.
• 75% of Millennials have made a financial donation to a not-for-profit organization.
• 71% of Millennials have raised money for a not-for-profit organization.
• 57% of Millennials have volunteered for a not-for-profit organization.
• Over 60% of Millennials will pay more for a product from an environmentally friendly company.
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Top Millennial Markets Top 10 markets by concentration of Millennials
City Index
Austin, TX 120
Salt Lake City, UT 117
San Diego, CA 117
Los Angeles, CA 117
Denver, CO 109
Washington, DC 109
Houston, TX 108
Las Vegas, NV 108
San Francisco, CA 107
Dallas- Ft. Worth, TX 106
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Millennial Buyer PersonaActionable Marketing Insights
• They care about others and the environment. They want to do good. This customer is concerned with a company’s social point of view. Target this audience for donation efforts for ALSF - they want to help.
• Apps are the way – Millennials engage with mobile apps way more than the rest of the population. Offer them an experience, offer them exclusivity, etc.
• Price healthy alternatives to appeal to millennials. But remember that this demographic can be financially constrained.
• Realize that millennials consider family important. As a result, they’re likely to be involved purchase influencers where important family decisions are concerned.
• Music matters a LOT to millennials. They download and stream more music than other generations. – Roughly a quarter of millennials will try a brand or product that sponsors a
music event for an artist or group they like.– Sponsoring a concert increases purchase rate over 25% among millennial
fans.– Artist endorsement increases brand market share up to 2.4 points among
fans.
• If it’s not fun, not meaningful and not memorable, there really is no reason for millennials to visit.Image Source
Engagement Strategies
Engagement Strategies• Be transparent.
• Display your brand’s true personality. Have fun! Be approachable.
• Support a cause your audience can rally behind.
• Get social outside of Facebook and Twitter.
• Identify and communicate with “tight” social communities.
• Break through the content clutter with short and creative content.
The Takeaways
The Takeaways• Appreciate breadth over depth. when
it comes to content.
• They love to create and share utilizing their own skills and resources.
• Connect to stories. Let your business story be the hook.
• They are always looking for newer, more efficient ways to do things.
• Value access over ownership.
• Define brands as a story. Encourage them to engage with your story.
We set brands free.
About Sigma
Sigma is an independently owned, fully integrated agency that creates work that works. We develop uncommonly creative stories that people love and love to share. We bridge brands with people and connect companies with their customers to drive business forward.
We believe that everything we do can change the way the world works. Our work has the ability to change the course for a small business, it can change up categories, it can change the life of a consumer and, it can change the game for businesses.
Sigma sets brands free to connect to be more than the products they make and the services they sell. We set them free to connect with people in unexpected ways through innovative and fully integrated planning, media and creative programs. We create uncontained, unprocessed, unfettered, unmatched creative products and ideas that connect companies with their customers and drive bottom-line results. We transform brand products and services and weave them into stories that connect with a human truth.
Let us help set your brand free,
Shannon [email protected]
