As the shift in the masses from Baby Boomers moves to Millenials, it’s important that brands understand the need to shift their marketing strategies to reach this new crop of individuals in the marketplace. Not to say that traditional marketing is dead. But gone are the days where the mad men of the world run print advertising agencies and primarily market to men. With the life expectancy increasing, it’s going to be increasingly more important for brands to recognize each of the generations in the marketplace and adapt their marketing styles to be able to reach each of these groups, says self-professed Next Generation expert, Ryan Jenkins.
iGens, or “digital natives,” born between the early 2000s to now, entered the world with technology at their fingertips and have never known life without it. But Millenials, or Generation Y, born between the early 1980s to early 2000s, have had to embrace and follow changes in technology which is why they make up a large mass of early adapters. With 63% having a bachelor’s degree, Ms are the most educated generation in American history which makes them extremely savvy customers. And with the rise of technology, and having to adapt to changes to survive, Millenials will insist on a more technology dependent, engagement rich, reward based, and transparent culture.
Social media became mainstream because of the adoption by Millenials. Institutions need to see the value in this generation and realize that there has been a shift in the way that they gain trust. Ms are placing a large trust in social media, and their decisions, and buying behavior, are affected by their peers. They are even looking to strangers, or individuals they know from developing online relationships with them. Online marketing is here to stay. And the sooner we all understand this change in culture shift the better off we will all be.