Your future target market!
There has been a lot of talk recently about Millennials, but who are they? And why is it important you understand them?
Millennials (also known as the Millennial Generation or Generation Y) are a group of people born between the 1980’s and early 1990’s. They are the most powerful, largest & most talked about generation to date, even surpassing the Baby Boomers!
Millennials were born within a growing fast paced technological time meaning computers, mobile phones, social media and the internet are part of their everyday life. They communicate online, make decisions via forums, share every part of their life, rely heavily on opinions of their peers & interact daily via the internet.
Traditional behavior and consumption patterns are a thing of the past. When we think about Millennials, most people talk about “when they grow up,” but what they fail to realise is that it has already happened for a lot of them—just not in the way that “growing up” looked like in the past.
No longer are companies spending their marketing budgets on business cards, flyers and adverts in the paper, they are utilising the internet and marketing digitally. Millennials are buying, they’re just buying differently – and, more importantly, they aren't going to change any time soon.
By 2015, 75 percent of the world’s employees will be the Millennial Generation, can you afford to misunderstand them?
Make sure you keep an eye out for our next piece on ‘How to market effectively to the Millennials’