millenial-target-market

Millennials are considered to be the most tech-savvy generation of today. Sure, Generation Z are next in line, but you would be hard-pressed to find a millennial caught dead without their gadgets.

Reflecting this, brands and companies have altered strategies in a way to better appeal to this generation of influencers — and for good reason.

While older generations use mainstream media to berate or criticise millennials as being ‘full of themselves’ or ‘lazy,’ the young have made their mark dominating online media.

Millennials make up a huge part of the world’s population and can be a very vocal bunch. Pew Research Center describes the millennial generation as individuals born roughly between 1981 and 1997. In 2016, this group accounted for 27 percent of the global population, or about 2 billion people.

Social media users aged between 19 and 35 can be found ranting, updating or documenting the minutiae of their lives online on a daily basis. This creates massive potential for word-of-mouth influence for any product or services.

About 58 percent of global millennials live in Asia and they are the most mobile-dependent generation. For many, a connection to the internet is their lifeline.

In the Philippines alone, 3.2 hours a day are spent on mobile internet, while they spend 5.2 hours on the tablet and desktop everyday.

The power this generation holds

A 2016 study from consultancy firm ATKearney found millennials are “fast becoming the world’s most important generational cohort for consumer spending growth, sourcing of employees and overall economic prospects.”

Targeting the generation has become a key focus for many businesses, with the revamping of technology and omnichannel strategies to keep up the pace.

Teo Correia, Senior Managing Director at consultancy firm Accenture, said in an article for Computer Weekly: “it is very important for brands to understand this generation, because their values and behavior patterns represent the majority of consumers.”

Every industry in every country has been affected by the millennial consumer revolution, Correia added.

To hit a homerun when marketing to millennials, it is essential to create engaging content. With an elusive attention span, planning a strong strategy is key to getting results.

While addressing a panel at Content Marketing Singapore, Lenovo’s Rod Strother said millennials are a key audience and content is the glue that bonds them with a brand. As overwhelming as this seems, how can one pique their interest?

Using content to target millennials

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A study from research firm Brookings found 84 percent of millennials don’t trust traditional advertising.

Millennials are often bombarded with content, so what is the best way to advertise to them? Experts at Brookings suggest: “use content marketing the way it was supposed to be used — to inform, entertain, or otherwise provide value to your readership, with conversions as a secondary consideration.”

Many young people are put off by forced or inauthentic marketing, so engagement is a great way to make potential consumers take notice.

The most crucial factor brands should consider when targeting millennials is the use of social media. It’s important to study and research which platforms are the most popular in every country.

Mobile social media is dominant in Southeast Asia especially in Indonesia, Malaysia, the Philippines, Thailand and Vietnam — the five are considered ‘mobile first’ nations when it comes to internet and social media access.

Facebook remains the most popular social media channel. A report from analytics firm comScore says: “with constantly refreshing social content and home screen accessibility for most users, the app is made for habitual usage.”

Regionally, 77 percent of millennials in Singapore use Facebook, 85 percent in Malaysia and a whopping 90 percent are on the platform in Thailand. There are around 47 million active Facebook accounts in the Philippines.

Forbes explains that this generation is one of the most engaged and involved segments of society on social media. Since many prefer interacting on these channels over other outlets, social media should be “a main priority for the production, distribution and syndication of your content.”

Inc. shares this tip: if you want to reach people in the millennial age group, consider making Facebook your best friend from a marketing perspective.

Other popular social media platforms include Instagram, Snapchat and Twitter. Jakarta has been hailed as the Twitter capital, so if your brand is planning to make a splash in the bustling city — you know where to start focusing.

Leverage social media as much as possible, but Kris Hull, Digital Lead of TNS Americas, warns marketers they shouldn’t be reading too much into the numbers. “Brands need to be wary of making sweeping assumptions about the digital habits of different age groups,” he said.

He adds that: “while millennials are clearly an important demographic, Generation X (aged 31-45) and the baby boomers (aged 46-65) generally have higher disposable incomes, established buying patterns and are spending increasingly more time online. Brands are often too focused on the need to market to their most advanced digital consumer, when actually a tiered strategy, reflecting where the spending power actually sits, may be more appropriate.”

Marketing to a younger, influential demographic can be tricky, but with the right strategy your brand just might gain among the most loyal consumers.

Need help strategizing your content? Our team at Content Collision can do just that. Drop us a line if you’re interested.

 

Image credits: Workplace Insights