Are millennials your target market? If your answer is yes, then this article can change your marketing approach tremendously. Below are eight fast facts for you to consider when marketing to millennials.
- Millennials are more money skeptical than previous generations.
- Millennials feel that they will not be able to achieve material goals like finding their dream job, buying a house or retiring until much later in their lives than their parents did.
- 7 out of 10 Millennials define financial stability as being able to pay all their bills each month.
- The recession left over 15% of Millennials in their early twenties out of work, many of whom are still struggling to get their feet on the ground.
- About 67% of Millennials say financial stress overtakes their ability to focus and be productive at work.
- Social media pressurizes Millennials to mimic financial habits of peers, as things like homes and car purchases are routinely posted for all to see and envy.
- The number of millennials getting married before 30 is only 23% compared to 56% who were married by this age in 1968.
- Many millennials want to like their jobs and many are delaying getting married and having children because of this – it is either they are focused on their careers or don’t currently make enough money to afford having a child.