Marketing to Millenniums
One of the most desirable targets in marketing today are the millenniums, also known as Generation Y (born from around 1980’s to early 2000s). This group is a huge population segment, and if a company succeeds in hooking this group they could be very profitable.
One article on Adweek details how difficult reaching this generation can be. Generation Y has relatively low disposable income, so they cannot be considered “volume drivers” but need to be seen as a long-term growth proposition. They don’t mind being marketed to, or being loyal to a brand, but they are highly aware of how they want to use their money – for example, they don’t want to pay for intermediaries or ads when they pay for music, they want to pay the artist. With this group’s rampant individualism, unique talent and passion matters (reaching out through social media) instead of consumers just interacting with distant giant corporations. Comedy is considered an excellent way to draw in millenniums, I think because it makes the corporation seem more authentic and relatable.
I found this article so interesting because these are the people trying to figure out how to market to me. And it’s true – I am a bit wary about giant corporations trying to get me to do surveys, but when I meet a passionate entrepreneur I’m much more willing to support them. I admire individual Youtube artists who pursue their passion outside of a label. I want corporations to believe in the product they are offering, not just trying to rip me off and take my money. And I don’t disagree that some of the most successful marketers to my generation will be from my generation.
