It can be tough to keep up with the cool kids of Generation Y, also known as Millennials. But these 79 million teens, 20-somethings, and early-30-somethings have a strong purchasing power of about $170 billion per year, so it’s worth appealing to them if they’re a demographic that makes sense for your products or services.
Internet technology company comScore set out to discover just what defines this generation and what kind of advertising resonates with them. Here’s what they found, published in the report Next-Generation Strategies for Advertising to Millennials.
Who They Are
>> New technologies don’t faze them. Ninety-three percent of Millennials are Internet users, compared with 42 percent of those 55 and up. “This is the first generation to grow up with computers in the home and in the classroom, not knowing a life without the Internet or cell phones,” the report points out.
>> They are diverse in many ways. Diversity in ethnicities, cultures and family structures is one hallmark of this group. On the whole, they’re accepting of many different lifestyles.
>> They’re known for being “stimulation junkies.” Short attention spans and a low threshold for boredom are the results of an active environment and ubiquitous technology. “This generation is prone to extreme multitasking, usually involving some combination of social media, online entertainment, video chatting, homework and possibly good, old-fashioned television,” the report states.
How to Target Them
>> Employ strong creative. Providing clear product benefits and using an attention-grabbing character — like a child, animal or animated character — are two elements that resonate with Millennials.
>> Find them on digital platforms. This age group is responsive to ads in digital mediums (especially as compared to TV, which this study looked at). Since Generation Y is comfortable with cutting-edge technology, you can be more experimental with your digital content.
>> Put ads around good content. When Millennials choose to view a certain website or TV show, they’re highly engaged. This is good news for those producing custom content — if you can create something worthy of attention, this audience is likely to get the message.