Let’s face it – traditional marketing methods such as direct mail, cold calling, print, tv and radio ads just aren’t as effective as they may have been in past years. Why is that? That largely depends on your target audience, but if you’re marketing toward the Millennial generation (born between the 1980s and the early 2000s) there are a few reasons why.
First of all, if your business isn’t targeting the Millennial generation, you’d better think again. By 2015, this generation’s annual spending is expected to be $2.45 trillion and by 2018, they will eclipse baby boomers in spending power at $3.39 trillion.* But, back to the point, Millennials don’t rely on newspapers and magazines to get information on brands and products, they go to the web. They’re on social media, following and engaging with brands. They’re on smartphones, making purchases directly from their mobile devices. In fact, this generation is the least likely of all to own a landline. They’re relying on content to make purchasing decisions, and are apt to ignore ads altogether; only 17% of Millennials said a TV ad prompted them to buy.** Plus, Millennials aren’t purchasing homes – they’re renting and staying at jobs for much smaller periods of time than previous generations. How can you rely on a traditional marketing method such as direct mail when you can’t keep a current address for them?
Source: Sage Island