Posted by AmeliaM
Millennial. Echo Boomer. Gen Y. Generation Entitlement. Ouch-‐ the last one hurts a bit. Whatever you call us, you better recognize us. We make up about 76 million people within the U.S. and we’re not all kids anymore. The oldest of the millennials are now in their thirties. As the age of millennials grow, so does millennial inﬂuence and buying power.
However, don’t start seeing dollar signs just yet. Don’t expect us to spend like our parents spend. Millennials can appreciate thrift. We are not ashamed to shop that bargain bin. We may have grown up with wealth, or the illusion of wealth, but many of us saw the wealth of our parents disappear in our teens and twenties with the recession. Many millennials will echo the sentiments of their grandparents, who experienced the great depression, when it comes to spending and saving. Millennials own fewer houses, cars, and are in less debt than people of the same age in 2001. Many are also cautious when it comes to credit cards and the damage they can cause. We aren’t afraid to save money by cooking from scratch. We may even use the leftovers to make a low cost beauty mask. We’re the ones holding up the line to pull up our coupons – on our smart phones, of course. Coupons in the newspapers are so Gen X.
Now, before you lose all hope for capitalizing on millennial purchasing power. Take heart. Millennials are waiting for advertisers to engage us. We will spend money, once you’ve proven you’re worth it. Here’s where that ugly little quip “Generation Entitlement” comes to play. We want to be entertained with advertising. We know our money is just as green as our parents and we expect marketers to recognize. By the way, don’t even try to tell us what we want or what we should want. We know what we want and we are waiting for you to give it to us. We want to have a say in the products we use. We want you to know what ﬂavors we like, what apps we use, and how we want to watch TV. We want to control how we view ads and we want a truly customized experience.
High maintenance? Yes. High reward? Oh, yes.
It’s also important to understand that not all millennials are created equal. Some of us are moms in the suburbs. Some of us are single in the city. Some are still living with our parents (no shame in that game considering the enormous student loans we have). We want to be acknowledged for our uniqueness and want to have a personal and customized experience with our advertising. Don’t just show me an ad. Let me connect with you. Let me understand that you get me.
If you can get a millennial to feel connected to your brand, he or she will be your biggest fan. Millennials feel that it is our responsibility to share our feelings about brands and products with our friends. Social media and our hyper connectivity to those in our social circles make our opinions highly visible. We live in a world where one consumer tweet quickly turns into millions of retweets and all of a sudden that one individualized experience becomes common knowledge.
So don’t be intimidated or disheartened by thriftiness of millennials. It might take a unique strategy and a little eﬀort, but we are waiting to reward your eﬀorts with our dollars. And, we’ll even post a pic on Instagram to share our excitement. #millennialsrule
Posted by Jose Villa
I go to my fair share of conferences from digital marketing to advertising to PR to social media and direct marketing. For some reason, the stars aligned this April and I found myself speaking and attending three different conferences on Hispanic marketing: Hispanicize 2013 AHAA 2013 (Association of Hispanic Advertising Agencies) Digital Hollywood Hispanic Media [...]
Posted by BenS
A few weeks ago, several members of Sensis DC attended the 2013 American Advertising Awards – Washington DC (formerly known as the DC Addys). It was an exciting night, recognizing and rewarding creative excellence in the art of advertising. The event was well attended by both Sensis and the DC advertising community. Some of the [...]
Posted by RobynL
Is CIO SP3 GWAC jibberish to you? Don’t worry, it used to be to me too…Government procurement can be like a foreign language. If your company is looking to do business with the Federal Government, let me give you a few pointers. Let’s start with the ways in which the government can purchase your services. [...]
Posted by DanT
Here at Sensis we know effective multicultural advertising and marketing. Check out this spot for Bounty paper towels!
Posted by gjohnson
As I recently dined with my family at a restaurant in San Pedro, California, I was intrigued by the viewing habits and languages spoken among the majority Hispanic diners. There were two big screen televisions at the opposite ends of the restaurant – ESPN playing on one TV and Telemundo on another TV. At a [...]
Posted by JustinW
Move over general-market, it appears that multicultural audiences are now in the lime light. As marketers, we are beginning to come to the conclusion that leading with a general-market approach may not be the best strategy. As multicultural audiences become the majority and their spending power increases, it only makes sense that they should be [...]
Posted by AmandaR
To be a good planner you must be innately curious about people and the world around you as after all, the guts of planning revolves around integrating consumer behavior into the process of developing advertising. Amanda, a curious Jr. Strategic Planner at Sensis, wanted to see how her company would net out according to VALS, [...]