Tag Archives: Small Business

Marketing to Millennials

Millennials are a prime focal group for targeted marketing off late. It is an untapped resource where slowly marketers are queuing up to tap their way into making a sale. Some statistics 80 Millennials in the US (One fourth of the total population) They hold an annual buying power of $200 billion They spend an average of 25 hours per week online. 73 % millennial give weightage to other users opinion/ reviews before buying. How is this generation different when compared with others? The millennial is a generation of the hyper. They are all about posting, pinning, sharing, tweeting, snapping, commenting and forwarding genuine interesting content. Their opinions are shaped and influenced by this kind of content sharing. They don’t give weightage to traditional marketing- 84% of them to be approximate. They have a loyal entourage of advisors that are tucked away in their smartphones, and bookmarked on their iPads. In a way they let their own instincts guide their purchase patterns. Smartphones play a major role in the entire purchase process. 34% of the millennial check the reviews of a product online, while checking out the physical product before buying. As high as 22% of the millennial tends to be influenced in their purchase decision by their peers. The average smart millennial likes to go snooping before the final hunt. Statistics point out that a major chunk of this generation likes to visit coupon websites to score a deal and visit product price comparison websites. With this kind of buying behavior lets look at how marketers can reach out to this elusive group and how we can contextualize the AIDA model. Attention– if the customer stops and takes a look – you have achieved success on the first go. What grabs the eyeball of the customer- is a job […]