April 8, 2014 > BookWorm column: Marketing to Millennials by Jeff Fromm and Christie Garton
BookWorm column: Marketing to Millennials by Jeff Fromm and Christie Garton
Your business is in it for the long-haul.
You didnÕt open your doors with plans to shut them next year, or in five years. No, you want to help customers now and later, until itÕs time to pass everything to the next generation or sell it all and live on a beach.
YouÕll be operating for a long time, so why wouldnÕt you take a long view of your customers? In the new book ÒMarketing to MillennialsÓ by Jeff Fromm and Christie Garton, youÕll find out how.
Born between 1977 and 1995, AmericaÕs so-named ÒMillennialsÓ have become a force to be reckoned with. Over 80-million strong, they account for around one-quarter of the population Ð which is some serious spending power.
Though the majority of Millennials are minorities, race is not the only study-category that researchers consider: Millennials are also categorized by six basic Òsegmentation models.Ó Still, they share characteristics as a whole, the first of which is their drive of a Òparticipation economy,Ó in which passivity is passˇ.
Millennials want to interact and engage with brands and offer opinions. TheyÕre early-adopters, technology is second-nature to them, and theyÕre willing to spread that techy knowledge. TheyÕre often Òbest friendsÓ with their parents (indeed, they enjoy financial support from their parents longer than did other generations). Crowd-sourcing is big with Millennials; they donÕt make any decision without asking friends. And despite having borne the brunt of recent job losses, researchers have found a surprising amount of Millennial optimism.
To remain relevant in this and future economies, the authors recommend several ways to appeal to Millennials.
Respond to your Millennial customers in the ways they embrace by utilizing text and Twitter. Tap into their love of entertainment by using innovation, humor, or games to engage them. Talk to them in a personal manner when things go wrong and when things go right. Keep in mind that, like most people, Millennials love a good deal, and they love Òfree, fast, and easy.Ó
Overall, remember this: whatever Òtactic you choose to take when it comes to engaging withÉ Millennials, any positive effect it has on your relationship today will have a positive effect on your bottom line tomorrow.Ó
I have to admit, ÒMarketing to MillennialsÓ is helpful. ItÕs also repetitious, common-sense, and itÕs over-packed with statistics.
And yet Ð I keep coming back to that Òhelpful.Ó Using case studies and reports jointly written with consulting groups, authors Jeff Fromm and Christie Garton give business owners a clear sense of the future of marketing and the customers to whom that marketing should appeal. To have that info all in one place, and making sense, is a very good thing. ItÕs also good to see confident assurance that readers may already have in place the tools theyÕll need to get the job done.
So yes, I believe there are bumps in this book, but I also think itÕd generally be advantageous to have around Ð especially if youÕre in business for the long-term. If thatÕs you, then ÒMarketing to MillennialsÓ is a book to haul home.
$24.95 / $29.50 Canada