This isn’t news: Millennials currently drive marketing. But even knowing that, you may not be sure how to harness their purchasing power. They’re stereotyped as lazy, mysterious, and cheap — but none of that is true. And believing that puts you ahead of the curve as a marketer.

A “Millennial” is anywhere between 23 and 38 years old right now: the exact demographic that most marketers target to spread the most influence, build the best brand, and make the most sales.

Spending statistics

  • They spend $600 billion  in the United States per year
  • Spend two-thirds the amount that Gen X and Baby Boomers spend on entertainment
  • 94% of Millennials use coupons, look for deals, use digital formats
  • 54% of purchases made online
  • 40% refer to testimonials/reviews BEFORE purchasing

Altruistic and charitable

  • The average Millennial spends $600 per year on charitable causes, despite highest rate of student loan debt, stagnant salaries, and rising cost of living
  • 81% of Millennials expect companies they partner with/buy from to publicly support charitable causes; they will switch if they believe the company is harmful to a social or environmental cause
  • Fortune magazine found that ⅔ of buyers between 18 and 34 more likely to partner with a company that donates to charity

Millennials are on the move

  • 69% of them get news on a mobile device at least once a day
  • 88% of them get news and opinions from Facebook every day

The more accessible, the better

  • 80% want real-time customer service

Are you funny? You gotta be funny.

  • A joke is worth $1000
  • The promos/ads they remember best are the funny ones: 80% remember the ones that make them laugh

What does this mean for you, a marketer?

  • Millennials value altruism, flexibility, and accessibility.
  • You need Savvy social media skills
  • You need to be public about your charitable causes or commitments
  • Spend time curating reviews and testimonials: make them genuine, specific, and easy to find
  • Make ‘em laugh, clown
  • You need to be available and accessible: combine that with social media – questions and responses via Twitter or Instagram show that you’re on trend but easy-to-reach: it feels more personal. The “email a question” or vague “contact us” method feels like there’s a wall between you.