5 Facts Every Marketer Should Know About Millennials
Millennials – also known as Generation Y – are the generation born beginning 1980 to the early 2000. They are unique in terms of their digital and mobile use, yet will clip coupons from newspapers. Here are five key facts to consider when marketing to Millennials.
1. They use coupons: According to research conducted by Ipsos, 90% of Millennials use coupons. While they rely on social media to share and trade coupons (60%) and search online for a coupon after hearing about them or seeing them on social media (80%), they are still clipping coupons. More than half of Millennials say they prefer to receive coupons by mail or in the newspaper.
2. They spend lots of time online: Considering this generation was the first to grow up with computers in their home, it comes as no surprise that they spend a good portion of their lives online. According to ComScore, they spent 96 hours – yes 4 days – online during the month of November 2013.
3. They are not glued to the tube: According to a New York Times study, 1 in 3 Millennials watch mostly online video and no broadcast TV, and 50% report watching video online at least once a day. Why? They can access online videos immediately and they like being able to watch multiple episodes online.
4. They love smartphones: According to Comscore, 1 out of every 5 (81%) of Millennials use a smartphone. Half of Millennials use Android, 44% use iPhones and 6% use “other” mobile platforms.
5. Their purchasing decisions are influenced by social media: According to a study conducted by the University of Massachusetts Dartmouth Center for Research, nearly 70% of millennial social media users are at least somewhat influenced to make a purchase based on their friends’ social media posts.
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