Tuesday, October 20, 2015

Wooing Millennials



Blink:
Last month I went on holiday; spent two weeks offline to break my daily exercise of aggregating information online.  Candidly, I also wanted to take a break from constantly reading about marketers’ coveted target market, Millennials (18-to-34-year-olds).  No such luck! 

Read On:
While on holiday I stayed connected to the world by reading the International New York Times (print version).  Day one I opened the business section and the lead article was Brands Woo Millennials with Apps and Emojis.  OMG!  I cannot catch a break from reading at least a few times a day about the Millennials, the first generation that grew up on the internet.  The gist of this article was about the shift in Millennials’ media habits.  They do not watch as much traditional TV or read print newspapers/magazines.  Most block ads on their web browsers and smartphones.  Overall they are a tricky target to reach via advertising.  Advertisers are beginning to find success utilizing emojis and apps.  The Cassandra Report published by Deep Focus Agency revealed that 4 out of 10 Millennials indicated they prefer to communicate with pictures over words.

Okay I get it.  Marketers are salivating over capitalizing on tapping into the discretionary income of Millennials.  I also have studied the following statistics:

·         Millennials spend 41 percent of their time on mobile devices.  Adults ages 35 to 54 spend 34 percent of their time on mobile device while adults 55 and older spend only 16 percent of their time (source: comScore).   

·         Younger Millennials 18-to-24-year-olds spend an average of 91 hours a month on smartphone apps, about 18 hours more than people who are 35 to 44 and 33 hours more than 45-to 54-year olds (source: comScore). 

·         The population of the United States is 320 million (as of last week). Millennials account for approximately 83 million, thus there are 237 million other people that are not 18-to-34-years old.

I recognize that Millennials are influencing the future of consumerism.  However, I really do think it is time for marketers to better understand that there are other target markets with potentially equal discretionary income.  

Marketers, balance your future target marketing.


2 comments:

  1. It used to be all about the Baby Boomers, now it's all about the Millennials, and that's not likely to change since it is they who are doing the writing and most of the inventing of all the fun new toys. So... deal with it! :) oops... was that an emoji?

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  2. All 34 year olds will turn 35

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