Trends come and go in marketing, and it’s not always easy to connect with your target audience unless you really understand what motivates them.

Who are the millennials?

Generation Y, also known as Millennials, are people who were born between approximately 1982 and the mid-1990s, and reached the age of 18 between 2000 and 2008. There are around 75 million of them, equal to or slightly higher than the number of baby boomers. (those born between 1946 and 1964).

Technology

Millennials are typically more tech-savvy than previous generations, though not as skilled as Gen Z, their younger counterparts. They are the latest generation to grow up as non-natives of technology like the internet and smartphones, compared to Gen Z, who cannot imagine a world without them.

Marketing

Millennials have been raised on television and internet marketing, so they will be more skeptical of what they see and generally will not respond to many of the traditional marketing and sales arguments.

Lifestyle

Millennials are much more racially and ethnically diverse than previous generations, although that can lead to setbacks and stubborn biases compared to Gen Z, who are generally not as biased and want everyone to get along.

Millennials enjoy television, which includes cable, satellite radio, the Internet, ezines, and some social media, typically Facebook and Twitter. They have fewer accumulated material possessions and many are not married and have no children. This trend is most likely due to going to college and then having the burden of paying off a large number of student loans.

It has been financially difficult for Millennials who came of age in the midst of the huge recession of 2008. This made them wary of borrowing. If they want to buy something, they will shop around and demand good value.

Employment and accumulated wealth

As a result of the economic downturn just as they came of age or graduated from college, Millennials have struggled to enter the workplace. Some still live with their parents out of financial need or simply for convenience. They don’t have the amount of purchasing power that boomers have.

As a result of not being married and often living in a shared home, Millennials are often interested in travel and experiences like going to spas. They want a house, a car, and a family one day, but not until they can afford it.

Brand loyalty

Millennials are not brand loyal in many cases. They will change based on price, style, and trends if the marketing messages they see resonate with them.