It is more important than ever for marketers to study and understand their audiences. This 4 part blog series will outline the main generations that marketers target with direct-to-consumer campaigns. Here you will find a ton of information on how to properly market to and reach Millennials. Millennials are often misunderstood and generally underestimated by their elders, however they are also the most sought after audience in the direct-to-consumer marketing world.
Millennials grew up with modern day conveniences like internet, cable, and smartphones. Their parents watched as simple inconveniences of the past disappeared into the history books. Winston Churchill might have likened the buying habits of millennials to his conjecture of Russia in 1939, “…a riddle, wrapped in a mystery, inside an enigma; but perhaps there is a key.” There are keys to understanding millennials, you just need to know where to find them!
Millennials are an enigma to some, but they don’t have to be! This group spends their time and money on things that bring them joy. This must be taken into account during the design phase of a direct-to-consumer marketing campaign aimed at millennials. So, what brings them joy? Experiences. If you want to sell a financial product to a millennial, you better make sure that the experience is interactive, easily understood, and quick. You might hear some ads regarding the speed at which you can now secure a mortgage. The companies releasing these ads are appealing directly to millennials who value speedy service and quality above all else.
Millennials have less qualms than previous generations when it comes to “job-hopping.” This habit of moving frequently can both benefit and impede financial marketing efforts. It is important to keep track of where this segment is moving, when they are moving, and why they are moving. Quality data is key in identifying these patterns quickly. Acting rapidly on those who “raise their hands” is essential in winning new millennial business. Targeting millennials is a complex process that involves custom modeling, unique attribute applications, and speedy delivery. Examining and tweaking your marketing process is essential in staying ahead of the ever-evolving millennial.
To learn more about reaching this segment, contact Altair. We are always here to help design profitable D2C campaigns (for every generation)!
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