The millennial demographic is increasingly becoming an important factor in making any business’ marketing decisions. But despite the fact that they are an important consideration, organizations still have very little insight or information on how to get them to react positively to their marketing efforts. Whether businesses are looking to target millennials on campus, off campus, or connect with them online, marketers must first understand their habits, preferences and feelings.
Here are some important trends impacting the market value of millennials:
Millennials are workaholics
An incorrect assumption about millennials is that they are lazy in comparison to previous generations. According to a survey conducted by market research company GfK, millennials have more of a professional mindset than others think. This age group was more prone to forfeit unused vacation days and sacrifice personal time to make sure their work responsibilities are completed. An increasing number of college students are getting part-time jobs during the semester, and not just during the summer. This concept is becoming increasingly relevant to advertisers, who shouldn’t craft their messages around laziness. Instead, market your product to demonstrate how it facilitates their daily lives.
They prefer sponsored content
Online marketing firm eZanga conducted a study to determine what type of advertisements millennials enjoy the most. Almost 48% of those surveyed had positive statements about sponsored content. Therefore, students are more likely to interact and will react positively to subtle messages that includes humor, or is useful to their lives.
They love doing good
Millennials’ desire to make the world a better place to live in affects the way they look at and interact with brands. A study conducted by PR firm Cone Communications discovered that 9 out of 10 millennials would switch brands to ones associated with a cause, and 62% are willing to be paid less to work for a responsible organization. The key in incorporating a cause into your business is to keep it authentic. Align your brand with a cause that is relevant or makes sense to what your business is about. If the dedication to your cause feels real, you will be able to attract students who are willing to become your largest and most loyal consumer to your product.
