Marketing to Millennials: Reach the Largest and Most Influential Generation of Consumers Everby Jeff Fromm, Christie Garton
The numbers cannot be ignored: eighty million Millennials wielding $200 billion in buying power are entering their peak earning and spending years. Companies that think winning their business is a simple matter of creating a Twitter account and applying outdated notions of “cool” to their advertising are due for a rude awakening. Marketing to Millennials… See more details below
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The numbers cannot be ignored: eighty million Millennials wielding $200 billion in buying power are entering their peak earning and spending years. Companies that think winning their business is a simple matter of creating a Twitter account and applying outdated notions of “cool” to their advertising are due for a rude awakening. Marketing to Millennials is both an enlightening look at this generation of consumers and a practical plan for earning their trust and loyalty. Based on original market research, the book reveals the eight attitudes shared by most Millennials, as well as the new rules for engaging them successfully. Millennials: • Value social networking and aren’t shy about sharing opinions • Refuse to remain passive consumers—they expect to participate in product development and marketing • Demand authenticity and transparency • Are highly influential—swaying parents and peers • Are not all alike—understanding key segments is invaluable Featuring expert interviews and profiles of brands doing Millennial marketing right, this eye-opening book is the key to persuading the customers who will determine the bottom line for decades to come.
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Read an Excerpt
From the Introduction - What We Uncovered
When our study first began to take shape, we spent a long time looking at earlier findings. Most—-if not all—-publications tended to view Millennials as a homogeneous group.
Not only did our joint research unequivocally prove this wrong, but BCG went one step further by developing a segmentation model that divides Millennials into six major subgroups.
This information is invaluable to any company that wants to target its marketing efforts more efficiently and effectively to this generation’s tastemakers and influencers.
Another key focus of our study was to identify how behaviors and attitudes differ between Millennials and non--Millennials—and to determine which of those differences are truly characteristic of the generation and not simply related to Millennials’ youth or their relatively early stage of life.
Beyond their widely recognized affinity for technology, our research identified specific behaviors and attitudes that the Millennials are likely to bring with them into their next life stages. Each of these characteristic attitudes—explained in detail in the first several -chapters—-has implications for companies, their brands, and the leaders, who will need to adapt to an era of cocreation and -two--way communication in which the new consumer clearly has a strong voice.
Our research also found that Millennials are leading indicators (if not the drivers) of media consumption, advocacy, and social media usage among all generations. For instance, Facebook—created by Mark Zuckerberg, one of the most famous Millennials—began as a college--based social network. Today, it has a diverse pool of users with an average age of 38, not 18. The bottom line: Brands, old and new, cannot afford to ignore this generation.
Here’s a quick snapshot of what else you can expect to find in this book:
Who they are. You’ll hear directly from the influential and characteristic members of this generation, providing an intimate look at Millennial consumers.
The New Rules of Marketing to Millennials. Brands are no longer in control of their own image and message with this generation. Indeed, a key finding from our study was that Millennials derive value from being engaged in product development, advertising, social interactions, and other facets of the marketing process. Because their participation and cocreation are likely to result in completely new marketing disciplines that tie in to Millennials’ fast--paced lifestyles, we’ve laid out the new rules of marketing with this generation.
Case studies. From long--established youth brands like MTV to fresh start‑up concepts like Dollar Shave Club, we’ve identified several organizations that are getting it right when it comes to marketing to Millennials.
Ready to cast aside the old rules of marketing at these consumers? When it comes to Millennials, the new rules of engagement reign.
Excerpted from MARKETING TO MILLENNIALS by Jeff Fromm and Christie Garton. Copyright © 2013 by Barkley, Inc. Published by AMACOM Books, a division of American Management Association, New York, NY. Used with permission.
All rights reserved. http://www.amacombooks.org.
Meet the Author
JEFF FROMM is Executive Vice President at Barkley, with over 25 years’ experience working with major brands including Hallmark, Sears, and PayLess.
CHRISTIE GARTON is a lawyer, entrepreneur, (and Millennial) whose U Chic Media company (www.UChic.com) and best-selling college guidebook for women have received national attention.
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