Million Dollar Baby

“The youth is the hope of our future” – Jose Rizal

So your brand wants to reach millennials? Get in line. These days, it seems like everyone is clamoring to capture the attention and loyalty of Gen Y’ers, those who fall between the ages of 18 and 34.

It’s easy to see why:  If you’re paying any attention to the current market, odds are you already know that millennials are the largest generation in the world.

With $200 billion in annual buying power, millennials currently reign as the biggest influencers worldwide. They’re the million dollar baby. They’ve already squashed boomers and Gen X’ers in terms of population size, according to Pew Research Center. And with the likes of Taylor Swift and Mark Zuckerberg leading the way, their ability to shape the marketplace is only going to increase with time.

With ever-growing purchasing power, they are the next big market to advertise to. But along with it comes new challenges – Millennials are just notinto traditional advertising. Millennials didn’t grow up with the same advertising, the same exposure, the same big three TV networks. Indeed, it’s a completely different consumption of media driving a different consumption of products.

The good news is, advertising to millennials is easy once you understand millennials characteristics, especially when it comes to being a consumer. The voice of millennials is different than anything you’ve ever heard before. The younger generation seems to do just about everything differently. They take to the internet for communication, for purchases, and for interacting. They have different values, interests, and ideas. Because of this, companies are changing the way they advertise.

In order to reach those younger consumers, brands are recognizing they need to market differently. With the internet, smart phones, and ever-changing technology, sending flyers in the mail or running commercials between shows just isn’t going to cut it. Understanding the millennial characteristics, as a consumer, is the key to effectively advertise to them. While they tend to reject an interruptive and blatant approach, if you manage to get into their circle of comfort, millennials can even end up as brand advocates you don’t even have to put into payroll. This leaves one main question swirling in the minds of marketers: What’s the best way for brands to gain traction with the Gen Y?

The voice of millennials needs to be heard.  If you want to reach millennials, the best thing you can do is listen to their voice. While they may seem like a confusing generation that you have no hope of understanding, listening to them and what they have to say isn’t as difficult as it may seem. Marketing in the past was more about telling customers what they needed and why they needed it. It was disruptive and attention grabbing. Marketing and advertising meant shocking their audience just enough to push them to make a purchase, then hoping they were committed to the product or service when it came time to buy again. Millennials don’t operate that way. Instead of listening to what they’re told by major corporations, millennials question this form of advertisement. With so much information at their disposal, they don’t need to rely on what the marketers say – they’re free to do their own research and come to their own conclusions.

This means that brands need to understand what their audience wants instead of trying to tell them what they want. Surveys, reviews, and online responses are all great ways for companies to learn more about what their millennial audience wants. Also, millennials look up to individuals instead of brands.That means that they look up and trust “individuals” or “the underdogs” more than they trust brands. The internet has given individuals all over the world a chance to connect. Through the platforms they create, millennials in all countries are taking to the internet to discuss hobbies, passions, and interests. They’re connecting with like-minded individuals that they never would have met without the help of the internet.

This means that millennials have wider circles of trust than previous generations. Apart from relying on friends and family members, millennials have celebrities, bloggers, social media friends, and more that can help them make a purchase or select a product. For companies and brands, this means advertising can take the form of influencer marketing. By using an already established circle of trust, millennials will be more receptive to your company than they would be through traditional marketing. They go by the old school formula of Word of Mouth, but just electronically.

Millennials rely on technology for everything from shopping to socializing. Technology has always been a way to make our lives easier, but millennials were really the first generation to be raised with advancements like cell phones and the internet. As something that has always been in their lives, millennials look online for just about everything they need.

When a millennial wants to make a purchase, they’ll first jump online. While generations before them would run to their favorite store to see what is in stock, millennials will do their research on what products or services are available to them. The more convincing content they can find, the more likely they are to purchase that item. Most millennials are skeptics. If it sounds too good to be true, it probably isn’t, so traditional ads with overblown promises is out of the question. Born in the height of the online culture, millennials are savvy researchers who will utilize the internet to get neutral ideas and opinions with pros AND cons. With all the information available online, millennials are able to answer their own questions and form their own opinions.

This means that advertisers and marketers can’t push products or services in a millennial’s face and expect them to bite. This generation does not care to be ‘sold’. If a company wants a millennial to make a purchase from them, they need to establish trust and help the millennial down the path of making their own conclusion. Also, if brands want to advertise to millennials, they need to do so on the internet. Traditional forms of marketing, such as putting ads in the newspaper or sending flyers in the mail, are going unnoticed. Instead, inbound marketing tactics, such as blog posts, social media shares, and sponsored content is drawing in the younger crowd. They are the slaves of the digital world.

Emotion is a major factor in millennials’ decisions. With the influx of information the internet has given them, the millennial generation is more aware. They’re better able to understand things they may not have learned in a classroom and more likely to continue their education after leaving school. Because of this, millennials have become more invested in health, social issues, and the world. They realize that business does not need to be “strictly business” and that companies can do more for the world. Millennials want to make a difference, and they want the companies they work with to help too. This plays into the way a brand advertises because their marketing needs to pull on those emotions and desires. Corporate Social Responsibility is a major facet brands have to look into now. Companies that donate a portion of each purchase or who have made an effort to be more health conscious seem to do better with millennials than companies that stick to just business. In short, millennials are not interested in doing business with companies that only care about business.

Do not just be a faceless company. Change that perception by showing them your human side. Strive to be subversive, clever, ambitious or refreshingly honest. Stereotypes be damned — many millennials are actively involved in the social, economic and political issues of the day. If your brand can demonstrate that it’s tuned in to big issues and courageous enough to take a stance on them, millennials are more likely to respect or take interest in you. They’re receptive to brand storytelling over straightforward ads. Millennials exhibit early adoption tendencies and develop a loyalty to brands they can trust. Millennials don’t care if content is branded; they care about whether it speaks to them.

There is no doubt that millennials do things differently. To best accommodate them, brands need to do things differently as well. As millennials grow older, their ways are becoming standard. Their ideas, principles, and needs are becoming more and more commonplace, so brands need to adjust before they are pushed to the side and forgotten about. Millennials have a lot to offer the market, and it all starts with their valued attention. Engaging with millennials sustains these connections and transforms ads from an afterthought to an experience.