Fifty Shades of Millennials: Why Marketers Shouldn't Lump Them Together
By Jonathan Bailey Founder, i.d.e.a. | May 29, 2016
There are roughly 80 million millennials in the United States, and each year they spend approximately $600 billion. Clearly, marketers have recognized this group and are scrambling to reach out to them, connect in a relevant way and convince them of brand relevancy. Some are missing a big opportunity for success, however, because they are operating under the false assumption that all millennials belong in the same gigantic group.
There is more than meets the untrained eye here, and properly targeting millennials is a multi-faceted, complicated effort.
If you're like me, you are inundated with articles, webinars and conferences aimed at pointing out how to reach the all-important millennial audience - people born 1981 and 1996, who are now between the ages of 21 and 35 years old.
We've all recognized this group spends well, and represents an important demographic to reach and influence toward knowing our brands, buying our products, using our services, visiting our destinations and staying at our properties. Brands are scrambling to attract millennials via various tools of the trade, recognizing the enormity of the group and the depth of its spending power.
One important element to note, however, is that not all millennials are created equal.