Connect with us

Business Marketing

Marketing to Millennials: demystifying a generation

Generation Y is enormous and their buying power is rapidly increasing, leaving marketers scrambling to reach them. The big secret is to treat them like Millennials instead of getting frustrated that they’re not Boomers.

Published

on

Reaching the Millennial generation

Generation Y, also known as Millennials, were born between 1980 and 1995, and already outnumber Baby Boomers and out power their parents in spending power, so marketers are salivating over how to reach this generation who values the opinions of strangers online equally to the opinions of their friends and family. How does a brand market to Millennials in this environment? The first step is understanding the most common traits of the generation.

The most obvious trait is that Millennials grew up with technology, so they are hard to impress by touting that you have a website, no, that is expected of your business. Many technologies are taken for granted, and in some cases, being shed over time, like television, which most Millennials do not watch, rather stream through the web. It is not uncommon for a Millennial to own multiple technological devices or to have paid a great deal of money on them, and the generation average $24.74 spent on coffee drinks, having grown up with a Starbucks on every corner, meanwhile their professional counterparts over the age of 45 spend an average of $14.15 per week.

The generation is known to be altruistic, generous, concerned with the environment and their impact on the world, but are also impatient and value a fast experience over a lengthy customer service endeavor. Born as technology multi-taskers, the generation is wired to be constantly in a hurry and struggles to pay 100 percent attention to any one task, and are conditioned to receive thousands, if not millions of brand messages every day, so cutting through the noise is increasingly difficult. Almost all Millennials are on Facebook, and the majority have “liked” brands they favor on the social network.

Some say that Millennials have a sense of entitlement, and although few studies support that thus far, it is easy to see how a generation where every child got a trophy for participating is struggling to find their comfort zone in the work force. For this and many other reasons, it is not uncommon for Millennials to become entrepreneurs as many do not feel that they fit into a corporate structure.

As a creative generation, marketers are having to find more creative ways to reach these buyers, many resorting to humor. Some are saying that Millennials require advertisements to be flashy and shiny, but the rise of the Apple products should show you that the generation can actually be quite minimalist.

Millennials are also a moving target for marketers, because the American Dream has shifted. Millennials are not ashamed to rent, are waiting until their 30s to get married and have children, and value creative perks at work over traditional vacation time structures.

There is no magic bullet for Millennials, the generation is still defining itself, but the most successful marketers tap into the wisdom of the generation rather than insulting them, and doesn’t try to force them to fit into their idea that all buyers are Boomers. Honesty, cleverness, and rapidness reign right now, but it is a moving target and in five years could look quite different.

Related reading

AGBeat has been writing about marketing to Millennials for years, and there has been a lot of exciting research published on the topic. Below is a selection of 12 useful articles for your consumption:

  1. 8 products Millennials will not buy in the future
  2. Millennials are more difficult to reach, but respond well to creative ads
  3. Technology has made Millennials impatient yet more complex thinkers
  4. How Millennials are conditioned to be entrepreneurs
  5. Why Millennials rely on friends’ and online strangers’ advice equally
  6. Millennials learning from their Boomer parents’ mistakes
  7. Portrait of the new Millennial businesswoman
  8. The ultimate guide to reaching Millennials
  9. Generation Starbucks
  10. Millennials are migrating into the city
  11. Millennials highly educated, highly underemployed: how they’ll absorb housing
  12. Millennials are well studied, but can still be persuaded

Business Marketing

How Nestle’s emotional branding converted a nation into coffee drinkers

(BUSINESS MARKETING) Nestle hired a psychoanalyst to convert a nation to coffee with long term, science backed strategies connected to why we like what we like.

Published

on

nestle japan coffee

When Nestle first attempted to market coffee in Japan in the 1970s, it did not go well. Though their products tested well with audiences and was priced affordably, sales never took off. Nestle was committed to break into the profitable Japanese market and embarked on research that would inform an innovative new strategy going forward.

Nestle hired French social psychologist, Dr. Clotaire Rapaille, who specialized in the emotional bonds people form with objects. Dr. Rapaille conducted various experiments with participant groups to better understand why people were not buying coffee in the Japanese market. In one such experiment, Dr. Rapaille played calming music while participants lay on the ground. He asked them to talk through early childhood memories. He then asked participants to share experiences and emotions they associated with various products from their childhoods.

Participants did so, except when it came to coffee. Most had no memories of coffee and therefore no emotional bond to it. Japan had long been a tea drinking society, very few sections of society included coffee drinkers. Sales reflected the lack of cultural familiarity with coffee; it was not part of Japanese life. This understanding from Dr. Rapaille’s research sparked a bold marketing move with a long-term strategy in mind.

Nestle created coffee-flavored chocolate and marketed them to children. Introducing the flavor of coffee to Japanese youth while at an early age would not only imprint the flavor profile on them, but they would associate the flavor with positive emotions. Nestle tested, manufactured, and sold their coffee-flavored chocolate in Japan. They were immediately popular with youth and eventually with their curious parents who wanted to give the flavor a try.

A reentry into the coffee market by Nestle years later was met with a different response than the first attempt. The kids that grew up with coffee-flavored candies were now a part of the workforce and ready to become coffee drinkers. Today, Nestle imports nearly 500 million tons of coffee per year.

What began with a failed attempt at entering the coffee market resulted in a long-term strategy that proved that strong emotional bonds with customers can build strong sales.

Continue Reading

Business Marketing

How many hours of the work week are actually efficient?

(BUSINESS MARKETING) Working more for that paycheck, more hours each week, on the weekends, on holidays can actually hurt productivity. So don’t do that, stay efficient.

Published

on

work week rush

Social media is always flooded with promises to get in shape, eat healthier and…hustle?

In hustle culture, it seems as though there’s no such thing as too much work. Nights, weekends and holidays are really just more time to be pushing towards your dreams and hobbies are just side hustles waiting to be monetized. Plus, with freelancing on the rise, there really is nothing stopping someone from making the most out of their 24 hours.

Hustle culture will have you believe that a full-time job isn’t enough. Is that true?

Although it’s a bit outdated, Gallup’s 2014 report on full-time US workers gives us an alarming glimpse into the effects of the hustle. For starters, 50% of full-time workers reported working over 40 hours a week – in fact, the average weekly hours for salaried employees was up to 49 hours.

So, what’s the deal with 40 hours anyway? The 40 hour work-week actually started with labor rights activists in the 1800s pushing for an 8 hour workday. In 1817, Robert Owen, a Welsh activist, reasoned this workday provided: “eight hours labor, eight hours recreation, eight hours rest.”

If you do the math, that’s a whopping 66% of the day devoted to personal needs, rather than labor!

Of course, it’s only natural to be skeptical of logic from two centuries ago coloring the way we do business in the 21st century. For starters, there’s plenty of labor to be done outside of the labor you’re paid to do. Meal prep, house cleaning, child care…that’s all work that needs to be done. It’s also all work that some of your favorite influencers are paying to get done while they pursue the “hustle.” For the average human, that would all be additional work to fall in the ‘recreation’ category.

But I digress. Is 40 hours a week really enough in the modern age? After all, average hours in the United States have increased.

Well…probably not. In fact, when hours are reduced (France, for instance, limited maximum hours to 35 hours a week, instead of 40), workers are not only more likely to be healthier and happier, but more efficient and less likely to miss work!

So, instead of following through with the goal to work more this year, maybe consider slowing the hustle. It might actually be more effective in the long run!

Continue Reading

Business Marketing

Snapchat’s study reveals our growing reliance on video

(BUSINESS MARKETING) Snapchat released a report that shows some useful insights for future video content creation.

Published

on

Snapchat's video

Snapchat is taking a break from restoring people’s streaks to publish a report on mobile video access; according to Social Media Today, the report holds potentially vital information about how customers use their mobile devices to view content.

And–surprise, surprise–it turns out we’re using our phones to consume a lot more media than we did six years ago.

The obvious takeaways from this study are listed all over the place, and not even necessarily courtesy of Snapchat. People are using their phones substantially more often than they have in the past five years, and with everyone staying home, it’s reasonable to expect more engagement and more overall screen time.

However, there are a couple of insights that stand out from Snapchat’s study.

Firstly, the “Stories” feature that you see just about everywhere now is considered one of the most popular–and, thus, most lucrative–forms of video content. 82 percent of Snapchat users in the study said that they watched at least one Snapchat Story every day, with the majority of stories being under ten minutes.

This is a stark contrast to the 52 percent of those polled who said they watched a TV show each day and the 49 percent who said they consumed some “premium” style of short-form video (e.g., YouTube). You’ll notice that this flies in the face of some schools of thought regarding content creation on larger platforms like YouTube or Instagram.

Equally as important is Snapchat’s “personal” factor, which is the intimate, one-on-one-ish atmosphere cultivated by Snapchat features. Per Snapchat’s report, this is the prime component in helping an engaging video achieve the other two pillars of success: making it relatable and worthy of sharing.

Those three pillars–being personal, relatable, and share-worthy–are the components of any successful “short-form” video, Snapchat says.

Snapchat also reported that of the users polled, the majority claimed Snapchat made them feel more connected to their fellow users than comparable social media sites (e.g., Instagram or Facebook). Perhaps unsurprisingly, the next-closest social media platform vis-a-vis interpersonal connection was TikTok–something for which you can probably see the nexus to Snapchat.

We know phone use is increasing, and we know that distanced forms of social expression were popular even before a pandemic floored the world; however, this report demonstrates a paradigm shift in content creation that you’d have to be nuts not to check out for yourself.

Continue Reading
Advertisement

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!