Growing up during atechnological revolution, millennials conformed to constant connectivity and social media as they came of age. Because of this, they are 2.5 times more likely toadopt new technology. This means they are also constantly flooded with content and ads.
The millennial market is a wide segment. This is important to remember if you want to target them in the most efficient way. Millennials have unique characteristics and diverse interests, and it also depends on what stage of adulthood they are in.
As millennials continue to dominate the marketplace, it is crucial for brands to know the most effective ways to reach them online. How do you market to millennials, and how do you make sure your brand stands out for them to notice? Let’s get to know this generation better.
Profiling the market
According to a 2019 study by theGlobal Web Index, millennials make up a significant number of the workforce. To date, they account for a quarter of the world’s population.
Contrary to popular belief, millennials are not lazy—they are driven and career-oriented. 64% of millennials are full-time employees, while 10% are self-employed or freelancing. Despite coming of age during a global recession, they are doing well for themselves. As a result, their purchasing power is substantial.
Their generation is also highly independent. The study showed that 70% of internet users who are millennials live in urban areas. 45% are married, and 49% are living with their partners. 46% of millennials areparents, while 6% are students. 93% of them are independent household-earners.
While the smartphone is the number one device of choice, with 96% of millennials owning one, they are also known as multi-device users. They typically complement phone use with PCs and smart TVs. Millennials spend an average of 3 hours 49 minutes on their phones every day. This is slightly longer than the global average of 3 hours and 23 minutes.