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MILLENNIALS – THE BOTTOM-LINE

May 16, 2014

Final post on marketing to Millennials (age 14 to 33). The report I have been quoting from (published by MediaPost) concludes that TV is still the media leader, but social media is coming on strong.

For kids that spent their youth in front of the TV, and not the Internet or game console, TV is their primary influencer in perceiving brand value. 73% of 26–33 year-olds, compared to 66% of 18–25 year-olds, consider TV to be their biggest influencer when it comes to brand value.

TV and social media are now paving the  way with Millennials: 29% and 26% indicated TV and social, respectively, as the media most likely to introduce them to a new product for trial. Both men and women indicated social and online ads are almost as important as TV.

The biggest difference between men and women is exposure to traditional advertising (TV, radio, magazines). Women are almost 2.5 times more likely than men to use traditional advertising in their brand selection criteria. The criteria for selecting a new brand for trial?

  • Value/price – 62%
  • Recommended by friend – 55%
  • Brand reputation – 47%
  • Quality – 35%
  • Brand exposure through social media – 29%
  • Eco-friendly brands – 28%
  • Recommended by parent – 25%
  • Entertaining ad campaigns – 23%
  • Prestige/social perception – 20%
  • Established brands that instill trust – 20%
  • Brand exposure through traditional advertising – 19%

Now, after all this data and all these posts… here’s the bottom-line:  No matter what media you use to find your audience, two generations are driving consumer spending today, Baby Boomers and Millennials. But all age groups still pick you based on four key attributes: 1) value/price, 2) recommendations by people they know, 3) your company’s reputation, and 4) perceived quality of your product/service (price + quality = value). Keep focused on these and you will be fine.

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