Millennials, also known as Generation Y, are consumers born between the early-1980s to early 2000s, have now become the influential consumers with the power to transform an ordinary brand into an international phenomena. According to Inc., millennials now account for “one quarter of the total population (or more than 75 million consumers) with a longer life expectancy and a collective spending power expected to reach $1 trillion by 2020.”
Allen Marketing Communications, Inc., a boutique NYC travel and lifestyle PR agency, counsels clients that millennials have the ability to help savvy marketers and business owners to capture their share of market and share of wealth. On average, millennials are an educated generation holding undergraduate and graduate degrees.
Here’s what’s trending as it pertains to marketing to millennials.
Love To Travel
Millennials love to travel.Research shows millennials postpone big ticket items such as buying a house or a car and take three or four trips a year to check off their bucket lists.
And, when it comes to travel, this generation looks for authentic experiences such as learning about a culture through its food, as well as living like a local in different countries.
Destinations, hotels and cruise lines with sustainable programs to support local economies and to minimize its environmental impact are very appealing to this generation.
Social Media and Influencer Marketing
It is important to identify influencers in your category who can inspire this generation to try a particular product or service. Influencers can generate new content, as well as share existing content to generate brand and consumer awareness for your product or service.
Our travel and lifestyle NYC PR agency understands that brands must have a platform for this generation to share experiences. Millennials are always on their phone constantly taking selfies and posting on Instagram and other social media channels about novel experiences, recent travels and new products.
In fact, Instagram is turning out to be “InstaPassports” for the travel industry and “InstaPurchases” for consumer products. Millennials are very comfortable with social media and it is important to identify the appropriate channel – Facebook, Instagram, Snap Chat, Pinterest, and YouTube – to reach these influential customers.
It is also important to have a dedicated team member to read, review and respond to posts to keep this generation engaged with your brand.
Health Conscious Food Options
Millennials are health conscious especially as it pertains to food products and dining out options.This generation is very open sampling organic, vegetarian, vegan, plant-based food items and sustainable products.
“Millennials don’t want the same sad burger that everyone else is eating. They want to custom-design the flavor and personalize their meal. And why not? They are paying for the food; it may as well be exactly what they want. If you notice more quick-service restaurants offering customizable options that you love, thank a millennial for that,” according to the Washington Post.
In fact, this generation is also leading the way with the fast casual dining option.
Not Ready For A Commitment
Millennials are more strategic about settling down and getting married.Research shows “this generation wants to travel first, pay down on student debts and establish their career or start a business.”
Contests and Sweepstakes
Contests and prize giveaways are very appealing to this generation.“Photo and video contests are especially compelling and motivate millennials to participate. Make the prize attractive and the contest interesting and you’re likely to find your millennial customers sharing their entries with their friends and followers,” according to Taboola blog.
It is important to have a feature for consumers, who enter a contest or sweepstakes, to opt-in for information about planning a vacation or receiving updates about a particular product or service. This databases will be invaluable for marketers and business owners to cultivate relationships with potential customers.
Mobile Friendly Website
Research shows millennials spend 85 percent of their day on their mobile devices.It is vital for all business to have a user-friendly website which works on desktops, iPads, iPhone and Android phones.
Millennials are more likely to purchase a consumer product or book a vacation right from their mobile devices.It is really important to make the buying process really easy for this generation on their mobile devices.
Our travel and lifestyle NYC PR agency is here to help marketers reach this influential demographic group. Give us a call.