Brands want to reach the millennial audience and strive to achieve it. The Millennial, or Generation Y, are the most important demographic of consumers who have had to deal with companies (and therefore the most seductive). Also they are one of the more difficult it is to understand because as consumers what they want is different from what they were looking for previous generations.
In the US alone the millennial spend a year 170,000 million dollars : they are figures that are still below the estimates of expenditure for the generation of baby boomers (born after World War II) but already outnumber Gen Xers, which it is the one before them.
Turning them into friends of the brand, make them look cool and worry about the issues that concern them are the three key points to seduce the millennial consumer, according to a study by advertising agency Moosylvania. These users want to make brands more and seek extra items that make them different from others. “Make me look cool, make me feel good and entertain me, ” says Norty Cohen, founder and CEO of Moosylvania, “mass communication has been supplanted by the marketing of friendship.
These consumers value, also, products of high quality (75% consider it important) question of a brand that they recommend (61%), that fits their personality (53%), which is a company with social responsibility (40%), which share similar interests with (39%) customer and say “important things” (31%).
Similarly, these customers attach great importance to the system and recommendations to know what others think about what they are – or will – buy. Some of the best known brands on the list of most loved by millennials are companies that have managed to optimize their systems to make them highly effective recommendations, such as the case of Amazon.
The findings of this study are very much in line with previous studies pointing. One of Iniciative highlighted, for example, that the millennialsexpect from the brands commitment and authenticity. And another Moonsylvania Havas and stressed the importance that these consumers give to product quality. And, simplifying, another showed that what they want is simply that companies make them happy.
While all this knowledge should not serve only way to guide campaigns with brands approaches these customers but support in its design. As recently explained one expert, brands fail to reach the heart of the millennials because they do not manage to go beyond the clichés. The specific study group exact market that will lead remains as important as knowing the general characteristics of the generation.
The favorite brands of millennials
Millennials already have favorite brands, the truth is that they very much in line with the most valuable brands by consumers in general … but with some surprises. In the ranking prepared by Moonsylvania of the most valuable brands by millennials, Google, for example, is not in the top ten. And not only that: Microsoft anticipates them.
The brand is Nike tops the ranking, followed by Apple and Samsung. The taste for healthy living and the impact of new technologies are two of the main characteristics of the group, which explains these positions header. Sony, Walmart, Target, Microsoft, Coca-Cola, Pepsi and Jordan are the companies that complete the top 10.