Marketing to Millennials: The Power of Generation Y

MARKETING TO
MILLENNIALS
THE POWER OF
GENERATION Y

WHAT’S WITH ALL THE
MILLENNIAL TALK?
• By the end of 2015, they will have overtaken Baby
Boomers as the largest living generation in the U.S.
Pew Research Center, 2015

MILLENNIAL TALK?
• And by 2017, millennials will be outspending them.
Berglass + Associates, Women’s Wear Daily, 2013

MILLENNIAL TALK?
• And by 2017, millennials will be outspending them.
Berglass + Associates, Women’s Wear Daily, 2013
• To start gaining their loyalty, it’s crucial that
marketers understand their diversity and how they
see the world around them.

WHO ARE THEY?
HOW ARE THEY LIVING?
43% of millennials
are non-white. Pew Research Center, 2014

WHO ARE THEY?
17.7% of men and 11.7%
of women aged 25 to 34
currently live with their
parents. Census Bureau, 2015

WHO ARE THEY?
Millennial women are
33% more likely
to earn a Bachelor’s degree.

WHO ARE THEY?
Average annual household
income is $72,800 for grads
and $34,700 for non-grads.
Wells Fargo, 2014

WHO ARE THEY?
64% of women who were 26
to 31 in 2011 had given birth
to a child outside of marriage.
Johns Hopkins, 2014

THE BOSS BABE THE BROGRAMMER THE UNDEREMPLOYED THE SHUTOUT
THE NOSTALGIC
THE COLLECTOR
CULINARY EXPLORER THE MILLENNIAL MOM
THE QUARTER-LIFE
CRISIS
MILLENNIAL MARTHA
THE WORLD TRAVELER THE EXUBERANT
Source: Exponential Marketing Services, Adweek, 2014

THE BOSS BABE
Your typical female go-getter.
She’s assertive. She’s focused. She definitely leans in.
And her purchase power is on fire.

THE BROGRAMMER
“Hard-partying male tech pros.”
Yep, that just about sums this one up. He’s career-
oriented, loves sports, and has spent years honing his
killer flip cup technique.

THE UNDEREMPLOYED
The overeducated grad who floats from job to job without the
faintest idea of how to get promoted or secure better pay.
“Home” is a shoebox in an up-and-coming urban area – but
have you seen how gentrified it’s become?
The tragically self-unaware Hannah Horvath, of HBO’s Girls,
seems to suit this character swimmingly.

THE SHUTOUT
Unemployed, in debt, and dependent on mom and dad’s
dime.
Typically male, this millennial subset lives at home –
and likes it.
Now, if they could only figure out what to do with that
degree in sociology (it seemed like a good idea at the
time, anyway).

THE NOSTALGIC
The quintessential blue-collar hipster who relishes in
what was.
If you’re still struggling to picture this character, just turn
on an episode of Portlandia. I recommend the “Is It
Local?” skit, personally.

MILLENNIAL MARTHA
So. Freaking. Perfect.
Millennial Marthas are the Martha Stewart’s of today:
content creators whose creativity has landed them
among social’s elite.
Their influence can be found on channels like
YouTube, Pinterest, Tumblr and Instagram in the form
of tutorials and DIY.

CULINARY EXPLORER
This hometown foodie is on a mission to find the best
artisanal meal in town. Kale infused kale? Count
them in.
One thing to note is that, while they revel in both
local and exotic cuisine, they value authentic
experiences above all.
To them, food isn’t just food; it’s an experience.

THE MILLENNIAL MOM
Socially active moms with a focus on healthy living.
“Having it all” is a concern they can’t seem to shake,
but not to the point that they would sacrifice their
own or their family’s well-being.
Their purchase power is like none other.

THE QUARTER-LIFE CRISIS
Simply put, this group is paralyzed by the thought of
who they are and where they’re going.
Common fears range from “who do I want to be” to
“when will I get married.”

THE COLLECTOR
While these “digital listeners” soak up social content
like a sponge, they are unlikely to go out of their way to
create conversations of their own.
They are typically introverts who live vicariously
through others’ experiences.

THE WORLD TRAVELER
Adventurous yet frugal, this travel enthusiast is willing
to wander the world with little more than a backpack
and a dream.
And Google Maps. They’d never leave home without
Google Maps.

THE EXUBERANT
Social savvy content creators, this group of millennials
is constantly seeking to show off just how awesome
they are.
Adweek’s portrayal of Tom Haverford (the overzealous
Parks and Recreation character played by Aziz Ansari)
is spot on.

DIGITAL BEHAVIORS
• Approximately 85% own
smartphones. Nielsen, 2014
• … and check them an average
of 43 times per day. SDL, 2014
• 56% will not accept a job offer if
the firm bans social media. Cisco,
2012 as reported by Badgeville

HOW THEY BUY
• Experiences > Things—largely driven by FOMO.
• Driving the sharing/renting economy as evidenced
by the success of Spotify, Airbnb, ZipCar, Citi Bike.
• Increasingly embracing and becoming loyal to
private-label store brands (think Target’s Up & Up
and Archer Farms). Jeff Fromm for Forbes, 2014

THE EMERGENCE OF THE
VISUAL CONSUMER

CONDITIONED TO LOOK
FOR AUTHENTICITY
“Instagram-style” images receive CTRs as high as 8%, compared with
2.35% for “regular photos.” (Drawn from more than 100M impressions, 15 advertisers. Laundry Service.)

RELATIONSHIPS WITH
BRANDS
Top reason they follow brands on …
TO SUPPORT THE BRAND
TO GET A COUPON OR DISCOUNT
TO SHARE MY
INTERESTS/LIFESTYLE WITH
OTHERS
TO KEEP UP WITH NEW NEW
PRODUCT OFFERINGS
• 50% of younger
millennials (18-24)
feel that brands say
something about who
they are, their values,
and where they fit in.
• 51% of older
millennials (25-34)
take positive action
on behalf of brands
they like.
UMass Dartmouth Center for Marketing Research, 2014
Social Media Link, 2014
Boston Consulting Group, 2013

INCREDIBLY INFLUENTIAL
Millennial men share more of their purchases on
social media, but women generate more referral
traffic. ShopSocially, 2014
68% are at least somewhat likely to
make a purchase based on a friend’s
social media post, more than any
other age group.

DON’T SINGLE OUT THE
SINGLES

LEARN MORE
Read more
about Millennials
and Curalate here

Marketing to Millennials: The Power of Generation Y

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Marketing to Millennials: The Power of Generation Y