understanding of their unique characteristics. Some marketers miss the basics. Millennials, like any generation, are defined as a group of consumers that fall into a certain age bracket. But, in some cases marketing to Millennials requires you to look beyond age. For this reason, you need to develop a deep understanding of this market so that you don’t misunderstand its complex nature.
In this chapter, you start thinking about Millennials as prototypes for the next generation of consumers. They’re not simply soon-to-be-wealthy 20-somethings that are difficult to reach. They represent a seismic shift in the world of marketing.
Understanding the Marketer’s Perception of Millennials
If you ask the average marketer to define the term Millennial, he or she would almost certainly start by stating that Millennials are consumers born between the years 1980 and 2000. While, demographically this is a fact, the reality is that the term Millennial embodies so much more. That said, marketers still hold certain prevailing notions when it comes to defining this important group.
The date ranges vary from one demographer to the next, but for the sake of simplicity, the generally accepted starting point for the Millennial generation is 1980. While the latter point of the date range varies considerably, it’s safe to say that an accepted cutoff point would be 2000. Some demographers are interested in only designating those who reach the end of high school age by 2000 as Millennials. Others define the generation as reaching consumer maturity in the mid-2010s. Whichever range you choose to use, Millennials are the largest, most influential group of consumers in the world (see Chapter 1).
To gain some insight about Millennials, the Pew Research Center asked Millennials to describe themselves, as shown in Figure 2-1. As you can see in Figure 2-1, Millennials have a very particular perception of themselves that sometimes conflicts with other people’s perceptions. Forty-nine percent of respondents indicate that they feel Millennials are wasteful, while 40 percent believe that Millennials are environmentally conscious. You may also find it a little hard to imagine someone being both cynical and idealistic, yet 39 percent of the Millennials who answered this survey felt that the general demographic is idealistic, while 31 percent believe that the generation is cynical. Clearly, you need to understand your particular niche audience so that you target the right characteristics.
FIGURE 2-1: Terms Millennials use to describe themselves.
Millennials do have a few personality traits on which the majority of marketers agree. The following sections outline the assumptions that marketers most often make when it comes to Millennial consumers. Some of these are correct, and some are misguided, as we discuss later in the chapter. A better understanding of them will help you develop content and advertising strategies that appeal to the true nature of Millennials.
Tech savvy
Millennials have been born into the digital age. They have grown up not knowing a world without extensive connectivity. Smartphones are standard equipment, and nearly the entire Millennial population of the United States has access to the web.
Millennials have been instrumental in the expansion of such services as social networking and helped simplify web and application development tools. If marketers can assign one characteristic to Millennials and be right, it’s that Millennials are the most technologically advanced demographic in the world.
Mobile
In addition to being the most populous generation in the United States, Millennials are also the most mobile. The number of connected mobile devices associated with Millennials almost exactly matches the size of the generation.
The way Millennials use mobile devices (see Chapter 10) and their dependence on them tells a much more important story. Millennials don’t separate from their mobile devices. In fact, most Millennials admit to never allowing their smartphone to leave their side.
Self-absorbed
You may or may not have heard of Millennials referred to as the Selfie Generation. High definition, front-facing mobile phone cameras and mobile applications such as Snapchat (www.snapchat.com) have normalized the self-portraits known as selfies. Marketers associate this behavior with self-absorption.
In 2013, Time published an article by Joel Stein called “The Me Me Me Generation.”. Stein wrote that while Millennials may be self-assured, determined, and, in some cases, even selfish, there is much more to them than that.
Lazy
Marketers have watched the rise of the on-demand economy (see Chapter 14) and assumed that its success has come from the inherent laziness of the Millennial generation. The rationalization for that assumption is that Millennials would rather use a mobile application to order what they need than go out and run errands.
Antisocial
Millennials love using social media and sharing their thoughts with the world from behind a screen. Traditional marketers see Millennials walking down the street with their heads buried in a phone and assume that they’re antisocial.
Educated
Marketers know better than to try to dupe Millennials with dated, cunning advertising tactics. That is because they recognize that Millennials are smarter than that.
Entitled
Millennials are viewed as a group that demands a lot from previous generations without offering much in return. This perception is rooted largely in the availability of content, resources, information, and necessities available free online. Since the launch of social networking sites and share-based resources (see Chapter 12), marketers assume that Millennials feel they deserve a lot because they have gotten so much free online.
Informed
When it comes to making buying decisions, Millennials have access to a plethora of information that previous generations did not have. The buying process used to rely largely on the word of the brand via traditional advertising channels. Now Millennials talk to one another and receive honest reviews about a product, service, or brand before making a purchasing decision. Trust in brands, executives, and even government has significantly decreased in recent years, which has coincided with a rise in the trust consumers put in experts and peers. This increased reliance on others means that marketers need to recognize the importance of relationships and the brand experience.
Lacking in loyalty
At one time, the name of a brand would guarantee a certain amount of loyalty. Now, marketers see Millennials chasing something that can be difficult to pinpoint. Whatever it is, marketers assume that brand loyalty has gone out the window. They believe that Millennials prioritize
