For many modern-day marketers, the millennial generation is seen as somewhat mysterious, leaving many organizations unsure of how to effectively target them in marketing and advertising. Because millennials grew up during a unique time of rapid technological and cultural change, they don’t respond to traditional marketing techniques in the same way as other generations.
This is especially clear when you consider the amount of research done to understand millennial consumers compared to baby boomers. A simple Google search shows over a million more results for marketing to ‘millennial consumers’ than ‘baby boomer consumers’.
However, Chief Marketing Officers (CMOs) still struggle to market to millennials effectively because this generation looks for fundamentally different things from brands compared to their parents. In the UK, for instance, there were approximately 14.4 million millennials in 2021, making them the largest generational group.
It’s no surprise then that businesses failing to target millennial consumers would suffer. This is why organizations and CMOs should actively seek millennials for their workforce: no one understands millennials and their expectations better than millennials themselves.
Here are a few ways millennial marketers are influencing marketing:
1. They Embrace Digital
Growing up in the digital age, millennials naturally think in a digital-first way when it comes to marketing. According to a report, millennial marketers spend more than half (58%) of their overall marketing budget on digital media, compared to baby boomers who only spend 14%. Older CMOs often see digital marketing as an add-on to traditional media, like print ads and brochures. However, studies show that digital marketing generates 50% more customer interactions than traditional methods because it is more targeted and personalized. Research by Gitnux found that digital marketing generates an average 9.9% increase in lead-to-close rates, compared to 1.7% for traditional marketing.
2. They Understand the Mobile-Focused Market
Millennials have witnessed the evolution of technology from dial-up internet to smartphones, adapting their habits to each advancement. Smartphones, now essential in daily life, have been embraced by millennials for their convenience. A 2023 study by SlickText found that 42% of millennials have not gone more than 5 hours without checking social media, with younger millennials checking their phones around 150 times a day. With 62% of millennials using their phones more often when searching the internet, businesses must develop mobile-friendly content and websites to attract and retain consumers.
3. They Value Purpose-Driven Brands
The business world is changing, and brands must now reflect social awareness to attract millennial consumers. Growing up with social media and increased transparency, millennials seek authenticity in the products they consume. According to 5WPR’s 2020 Consumer Culture Report, 62% of millennials favor products that align with their social and political beliefs, and 65% have boycotted brands that don’t. Millennial marketers understand the importance of cause marketing and creating authentic brands with a purpose, which helps attract and retain significant market share.
4. They Are Confident with Video
Unlike previous generations who associate video advertising with expensive TV ads, millennials are comfortable using video platforms like YouTube and Vimeo. Creating online video ads is more cost-effective and quicker than TV ads. A survey found that 76% of millennials actively follow brands on YouTube, and 60% prefer watching company videos over reading newsletters. With shorter attention spans, millennials engage more with short-video content, making platforms like TikTok and Instagram Reels popular marketing strategies. These platforms help create brand personality and consumer connection.
5. They Prioritize E-Commerce Presence
Millennial marketers enter the workforce with extensive digital skills, from video editing to social media management. This proficiency saves on training costs and allows them to perform multiple marketing tasks. With 80% of millennials doing most of their shopping online and 56% using mobile devices, they understand the importance of e-commerce and mobile-friendly sites. They also recognize the need for personalized and customized e-commerce platforms, which include features like product recommendations and easy payment options, making the shopping experience convenient and engaging.
With millennials gradually taking over the workforce and having grown up with constant technological advancements, their influence is reshaping the marketing industry. Their digital skills, understanding of changing market attitudes, and expectations are driving significant changes in marketing practices.