How to Target Your Younger Consumers
GENERATION Y TAKEOVER
You might be a stellar performer with a great image, but do your younger audience members identify with you and your brand? With changing technology and new communication outlets, what is the best way to reach the Gen Y audience?
You may be asking yourself, should my brand spend the time and money on marketing efforts to reach the Gen Y market? The answer is a big fat YES!
Gen Y is made up of individuals born in the 1980s and 1990s. Gen Y is made up of 86 million millennials in the U.S. who account for $1.3 trillion of consumer spending – more than 20 percent of the nation’s total – which will only increase as this generation continues to enter the workforce and their salaries advance.
Three tips to tapping into the Gen Y consumer’s mindset – their values, beliefs, and norms.
1. Be subtle and genuine.
Social media sites have overwhelmed the world. Social media has become an outlet where Gen Y audience members can research and learn about products and services. Through social media, Gen Y can, in fact, become brand advocates by sharing content and information through social media forums to their friends.
Gen Y has grown up in the age of technology, so they tend to distrust marketing efforts to “sell” products. They are a generation that values brands that use attention-grabbing (but honest) marketing. This is why crafting a concise and clear messaging strategy is imperative to attract and retain Gen Y consumers.
2. Timing is key.
One of the most important aspects of marketing towards Gen Y is spreading relevant information at relevant times. Technology has made live streams, news and events available in real time. Your marketing messages must be communicated in real time, anywhere through live streaming. Furthermore, information moves from relevant to irrelevant more quickly than ever before. Your company must be prepared to react swiftly and efficiently to new trends and topics.
3. Get creative.
Gen Yers are used to being overloaded with advertising and marketing content by way of billboards, social media, promotional items, contests, etc. A marketing campaign geared toward Gen Y must be unique and personal to them. Cause Marketing is a great example of this. Cause Marketing is the act of promoting your brand through a cause that reflects the values of the brand while also raising awareness for that cause.
A Forbes article on “The Great Charity Divide” in 2014 speaks to the the value Gen Y places on causes and charities (as compared to the Baby Boomer generation)
- Only 10% of Boomers said they plan to increase charitable giving over the next 12 months. By contrast, 21% of Gen Y respondents said they will .
- About 60% of Gen Y said the ability to see the direct impact of their donation has a significant bearing on their decision to give.
- Just 37% of Boomers feel that way. Gen Y want to see the difference they are making in the world.
When it comes to Generation Y always remember to have a meaningful conversation.