Friday, September 12, 2014

Millennials: The New Consumer Generation

Millennials, the future or the current new consumer generation? We all know about millennials and their power in today's consumer society, but will they be the same in  the future? This collective is 24 hours connected to Social Media to express themselves and share opinions and thoughts but they usually believe more in their friends or the social community voice rather than the brands. So how can companies change that?

As a Boston Consulting Group survey reveals "millennials are driving a transformation of consumer marketing across five elements: reach, relevance, reputation, relation, and referral". That means the key to approach to young consumers is by setting really clear marketing goals that can be easily measured without missing the open dialogue and understanding what this new generation want from companies. Loyalty  is difficult but even more with social media adopters, so brands have to listen, read and understand them.

That is that brands need to understand millennials by anticipating to their needs, motivations, expectations and desires and,what is more important, empathizing with them by reflecting their own values in the brand ones. We tend to think about millennials as a collective with a single and unique personality, but as it's true they share some similarities don't miss they all are different and must be treat as single ones for them to be part of a community.

Below we show you an Infographic of Carlos Monteiro on Adweek for you to get a clearer idea of how Millennials behave:



Source: 
Carlos Monteiro

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