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Marketing to Millennials: The Power of Generation Y

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Millennials (aka Generation Y and Echo Boomers) are defined as those who fall between the ages of 18 and 34. To understand their characteristics more deeply, Curalate Content Strategist, Stephanie Wharton, walked us through 12 subsets of millennial consumers, as determined by digital ad and analytics firm Exponential Interactive. You can read the full blog post on the presentation here: http://curalate.tumblr.com/post/110739818110/marketing-to-millennial-character-types

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Marketing to Millennials: The Power of Generation Y

  1. 1. MARKETING TO MILLENNIALS THE POWER OF GENERATION Y
  2. 2. WHAT’S WITH ALL THE MILLENNIAL TALK? • By the end of 2015, they will have overtaken Baby Boomers as the largest living generation in the U.S. Pew Research Center, 2015
  3. 3. WHAT’S WITH ALL THE MILLENNIAL TALK? • By the end of 2015, they will have overtaken Baby Boomers as the largest living generation in the U.S. Pew Research Center, 2015 • And by 2017, millennials will be outspending them. Berglass + Associates, Women’s Wear Daily, 2013
  4. 4. WHAT’S WITH ALL THE MILLENNIAL TALK? • By the end of 2015, they will have overtaken Baby Boomers as the largest living generation in the U.S. Pew Research Center, 2015 • And by 2017, millennials will be outspending them. Berglass + Associates, Women’s Wear Daily, 2013 • To start gaining their loyalty, it’s crucial that marketers understand their diversity and how they see the world around them.
  5. 5. WHO ARE THEY? HOW ARE THEY LIVING? 43% of millennials are non-white. Pew Research Center, 2014
  6. 6. WHO ARE THEY? HOW ARE THEY LIVING? 17.7% of men and 11.7% of women aged 25 to 34 currently live with their parents. Census Bureau, 2015
  7. 7. WHO ARE THEY? HOW ARE THEY LIVING? Millennial women are 33% more likely to earn a Bachelor’s degree. Pew Research Center, 2013
  8. 8. WHO ARE THEY? HOW ARE THEY LIVING? Average annual household income is $72,800 for grads and $34,700 for non-grads. Wells Fargo, 2014
  9. 9. WHO ARE THEY? HOW ARE THEY LIVING? 64% of women who were 26 to 31 in 2011 had given birth to a child outside of marriage. Johns Hopkins, 2014
  10. 10. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  11. 11. THE BOSS BABE Your typical female go-getter. She’s assertive. She’s focused. She definitely leans in. And her purchase power is on fire.
  12. 12. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  13. 13. THE BROGRAMMER “Hard-partying male tech pros.” Yep, that just about sums this one up. He’s career- oriented, loves sports, and has spent years honing his killer flip cup technique.
  14. 14. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  15. 15. THE UNDEREMPLOYED The overeducated grad who floats from job to job without the faintest idea of how to get promoted or secure better pay. “Home” is a shoebox in an up-and-coming urban area – but have you seen how gentrified it’s become? The tragically self-unaware Hannah Horvath, of HBO’s Girls, seems to suit this character swimmingly.
  16. 16. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  17. 17. THE SHUTOUT Unemployed, in debt, and dependent on mom and dad’s dime. Typically male, this millennial subset lives at home – and likes it. Now, if they could only figure out what to do with that degree in sociology (it seemed like a good idea at the time, anyway).
  18. 18. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  19. 19. THE NOSTALGIC The quintessential blue-collar hipster who relishes in what was. If you’re still struggling to picture this character, just turn on an episode of Portlandia. I recommend the “Is It Local?” skit, personally.
  20. 20. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  21. 21. MILLENNIAL MARTHA So. Freaking. Perfect. Millennial Marthas are the Martha Stewart’s of today: content creators whose creativity has landed them among social’s elite. Their influence can be found on channels like YouTube, Pinterest, Tumblr and Instagram in the form of tutorials and DIY.
  22. 22. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  23. 23. CULINARY EXPLORER This hometown foodie is on a mission to find the best artisanal meal in town. Kale infused kale? Count them in. One thing to note is that, while they revel in both local and exotic cuisine, they value authentic experiences above all. To them, food isn’t just food; it’s an experience.
  24. 24. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  25. 25. THE MILLENNIAL MOM Socially active moms with a focus on healthy living. “Having it all” is a concern they can’t seem to shake, but not to the point that they would sacrifice their own or their family’s well-being. Their purchase power is like none other.
  26. 26. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  27. 27. THE QUARTER-LIFE CRISIS Simply put, this group is paralyzed by the thought of who they are and where they’re going. Common fears range from “who do I want to be” to “when will I get married.”
  28. 28. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  29. 29. THE COLLECTOR While these “digital listeners” soak up social content like a sponge, they are unlikely to go out of their way to create conversations of their own. They are typically introverts who live vicariously through others’ experiences.
  30. 30. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  31. 31. THE WORLD TRAVELER Adventurous yet frugal, this travel enthusiast is willing to wander the world with little more than a backpack and a dream. And Google Maps. They’d never leave home without Google Maps.
  32. 32. THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT THE NOSTALGIC THE COLLECTOR CULINARY EXPLORER THE MILLENNIAL MOM THE QUARTER-LIFE CRISIS MILLENNIAL MARTHA THE WORLD TRAVELER THE EXUBERANT Source: Exponential Marketing Services, Adweek, 2014
  33. 33. THE EXUBERANT Social savvy content creators, this group of millennials is constantly seeking to show off just how awesome they are. Adweek’s portrayal of Tom Haverford (the overzealous Parks and Recreation character played by Aziz Ansari) is spot on.
  34. 34. WHAT’S THE COMMON THREAD?
  35. 35. DIGITAL BEHAVIORS • Approximately 85% own smartphones. Nielsen, 2014 • … and check them an average of 43 times per day. SDL, 2014 • 56% will not accept a job offer if the firm bans social media. Cisco, 2012 as reported by Badgeville
  36. 36. HOW THEY BUY • Experiences > Things—largely driven by FOMO. • Driving the sharing/renting economy as evidenced by the success of Spotify, Airbnb, ZipCar, Citi Bike. • Increasingly embracing and becoming loyal to private-label store brands (think Target’s Up & Up and Archer Farms). Jeff Fromm for Forbes, 2014
  37. 37. THE EMERGENCE OF THE VISUAL CONSUMER
  38. 38. CONDITIONED TO LOOK FOR AUTHENTICITY “Instagram-style” images receive CTRs as high as 8%, compared with 2.35% for “regular photos.” (Drawn from more than 100M impressions, 15 advertisers. Laundry Service.)
  39. 39. RELATIONSHIPS WITH BRANDS Top reason they follow brands on … TO SUPPORT THE BRAND TO GET A COUPON OR DISCOUNT TO SHARE MY INTERESTS/LIFESTYLE WITH OTHERS TO KEEP UP WITH NEW NEW PRODUCT OFFERINGS • 50% of younger millennials (18-24) feel that brands say something about who they are, their values, and where they fit in. • 51% of older millennials (25-34) take positive action on behalf of brands they like. UMass Dartmouth Center for Marketing Research, 2014 Social Media Link, 2014 Boston Consulting Group, 2013
  40. 40. INCREDIBLY INFLUENTIAL Millennial men share more of their purchases on social media, but women generate more referral traffic. ShopSocially, 2014 68% are at least somewhat likely to make a purchase based on a friend’s social media post, more than any other age group.
  41. 41. EMBRACE DIVERSITY
  42. 42. INSPIRE THEM
  43. 43. MAKE THEM LAUGH
  44. 44. DON’T SPLIT THE GENDERS
  45. 45. DON’T SINGLE OUT THE SINGLES
  46. 46. LEARN MORE Read more about Millennials and Curalate here

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