Page 274 - Social Media Marketing for Dummies

Take a look at how they compare to other generations in size and age (https://
www.kasasa.com/articles/generations/gen-x-gen-y-gen-z):

» Baby Boomers: 76 million people born between 1944 and 1964
» Gen Xers: 82 million born between 1965 and 1980

» Millennials (also known as Gen Y): 73 million born between 1980 and 1994
» Gen Z: 74 million born 1995–2015 or after

Millennials’ buying power is substantial. It’s believed that in 2020, Millennials
will account for 30 percent of retail sales in the U.S. (approximately $1.4 trillion).
You can’t afford to ignore their economic might just because they are somewhat
more difficult to reach.

In the following sections you look at several key characteristics of Millennials that
you need to know if you are going to engage them.

Technically savvy

It’s no mystery why Millennials are tech-savvy. They’ve grown up with technology.
According to Pew Research in 2018, more than nine in ten Millennials (92 percent)
own smartphones, and 28 percent are smartphone-only users. If you’re courting
a Millennial audience, you need to make mobile a centerpiece of your marketing
campaign efforts.

Seek a balanced life

Unlike Baby Boomers who champion a “work all the time” ethos, Millennials want
to have a more balanced life. At the time of this writing, Millennials are between
the ages of 25–39. The older ones have families and want to enjoy spending time
with them. The younger cohort prefers social experiences and travel.

Millennials are interested in participating in the gig economy (short term, freelance
work) because it allows them to have more flexible hours. Consider whether
freelancers would enhance your team. Also, if you’re able, consider flexible work
hours for full-time employees.

Follow influencers

Millennials hate ads, but 58 percent of them are influenced by online celebrities
and are even willing to sit through a short advertisement that includes their

258 PART 4 Getting Your Message to Connectors