About 87.5 million people between the ages 18-29 are currently living in the United States. This group, dubbed the Millennial generation, has a lot of buying power and is a segment that marketers need to understand, especially if they want to grow their businesses.
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The Millennial generation is different from the Generation X and Baby Boomer segments. How you choose to market to this segment of the population can make a big difference in your 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 also watch less television and make up the smallest percentage of radio listeners.
What’s more, 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, Millennials 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 those brands. This is a great way for retailers and marketers to reach this important segment of the population.
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.
The infographic below, originally posted on the USC Dornsife website, provides more details. Check it out!
