Generation X And Baby Boomer Generations
With approximately 87.5 million individuals of ages 18-29 currently living in the United States, this group, dubbed the Millennial generation, is an extremely strong segment of the population and is one that marketers need to understand, especially if they want to grow their businesses. This Millennial generation is vastly different than the previous Generation X and Baby Boomer generations. How business owners market to this huge segment of the population can make a big difference in their conversion rates.
For example, older marketing strategies often consisted of print media; however, today's Millennials make up the smallest percentage of people who read newspapers or magazines. Millennials not only watch less television but also make up
the smallest percentage of radio listeners. Another important fact to keep in mind is that this age group is second only to the Generation X population in their frequency of Internet usage. Clearly, reaching Millennials online, where they are, should be an important part of any successful marketing strategy.
The Millennial generation is not only one of the largest segments of the population turning to the Internet but also engages people and companies through social media. In fact, 89% of Millennials use social media with Generation X coming in second at 82%. In addition to being the largest segment of the population to be actively engaged across various social media platforms, these individuals, ranging in age from 18 to 29 years old, are also more likely to interact with brands and retailers over social media. They discover new brands through social media, and they follow and interact with these brands. This is an excellent way for retailers and marketers to reach this important segment of the population.
The Millennial generation also tops online spending when it comes to entertainment, food, clothing, services and education. Regardless of what type of business you own, it's important to formulate a marketing strategy that will target Millennials where they spend their time and money.
For example, older marketing strategies often consisted of print media; however, today's Millennials make up the smallest percentage of people who read newspapers or magazines. Millennials not only watch less television but also make up
the smallest percentage of radio listeners. Another important fact to keep in mind is that this age group is second only to the Generation X population in their frequency of Internet usage. Clearly, reaching Millennials online, where they are, should be an important part of any successful marketing strategy.
The Millennial generation is not only one of the largest segments of the population turning to the Internet but also engages people and companies through social media. In fact, 89% of Millennials use social media with Generation X coming in second at 82%. In addition to being the largest segment of the population to be actively engaged across various social media platforms, these individuals, ranging in age from 18 to 29 years old, are also more likely to interact with brands and retailers over social media. They discover new brands through social media, and they follow and interact with these brands. This is an excellent way for retailers and marketers to reach this important segment of the population.
The Millennial generation also tops online spending when it comes to entertainment, food, clothing, services and education. Regardless of what type of business you own, it's important to formulate a marketing strategy that will target Millennials where they spend their time and money.