Take a closer look at the millennial market you’re missing out on
I hate the word millennials, and I dislike how my contemporaries and I are lumped together in one broad stroke. But alas, that is the way of the world and thanks to TFM&A Insights we can share this infographic about ‘the millennial’. We’ve already looked at how millennials love user generated content, but really, what are the key trends inside this age bracket?
Using data from Forbes, Pew, Adage, and, Iriworld, a portrait of a millennial was drawn up and it looks like they have $170 billion (£102 billion) to spend every year. Your average millennial is also 262 per cent more likely to be influenced by a smart phone app with marketing, compared to the rest of the population.
While most people are trying to, or thinking of, selling to the millennial market, if you actually want to hire some of these young thinkers you’ll need to be an innovative company as 78 per cent of millennials are heavily influenced by innovation in the workplace when looking to find a job.
They’re also a relatively fickle bunch, with cost being a major factor for purchase choice over brand ties and reputation.
While this infographic gives little help to how you can implement measures to increase millennial engagement, perhaps gamification is the solution you’re looking for?