Saturday 03 December 2016

Why Millennials Matter to Every Brand

Originally posted on ConsumerACTIONism.

Every brand, every company, needs to look to Millennials as a target audience. I don’t care if your client is an adult diaper company or Life Alert (I’ve fallen and I can’t get up), Millennials are driving the purchase of your brand. Here is why.

In 2011, the youngest of the Millennial generation turn 16 years old. The oldest, they’re now 31. The average age of the world population is 28. By 2015, almost half (47%) of the world population will be under the age of 25. While many still view Millennials as punky kids playing on their tablets between high school classes, the reality is that two-thirds of Millennials are now over the age of 21, and many have established careers, families and an incredible amount of influence.

While every generation has distinct differences, Millennials have lived with one factor that no other generation can claim – they were raised digital. This fact alone makes Millennials unlike anything the world has seen, and their use of technology has given them great power. Their digital prowess also makes them more likely to start trends, be engaged with pop culture, try new products and share them with friends and family.

Being digital also makes Millennials more inherently global. Technology knocks down borders and what Millennials are saying in Singapore now directly and quickly influences people in Mexico City, New York, and Rome. Multiculturalism is the norm and new trends and opinions spread quickly.

In our recent 8095 study of Millennials, we found that brand preference was the #1 personal identifier that Millennials were willing to share about themselves online. Millennials partner with brands to help shape their own personal brands. We also found that 76 percent of Millennials think they are highly depended on for their opinions. A bit pompous? Maybe, but they’re probably right. When Millennials have an opinion about something, they can share their thoughts in seconds with hundreds if not thousands of friends and family members via their social media profiles.

Our 8095 research also found that Millennials are taking action on behalf of brands, both online and offline, every week. And, those actions aren’t just for high profile lifestyle brands. They’re talking and sharing opinions about all types of brands, from house cleaners to cookware to clothing and food. One organic conversation thread on our 8095 Live focus group tracked passionate chatter about carpet cleaners.

All of the chatter from Millennials, all of the sharing and noise, it makes an impact on the generations before them. They are listening. They are influenced by what their children and grandchildren are saying because they can say it loudly, with confidence and knowledge that only their Smartphones could give them. Millennials will continue to dominate influence and pop culture. That is, until the next generation, Generation Z, quickly changes the world once again.


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