Thursday, August 12, 2010

Marketing & Millennials

Millenials are driving the market! Are you onboard? What appeals to the Millennial market? What factors are important in marketing to this huge sector of the economy? Research presented at The Market Research Event 2008 showed several clear trends as significantly different for those born in 1982 and later.
Some factors are the same for Millenials as for Boomers and GenXrs:
  • Brands are important to all generations
  • Products being exceptional, innovating, and differentiating: still critical
  • Reassurance of quality important to all, although brand preference differs by generation 
Millennials DO differ in the following areas:
  • Millennials seek greater responsibility from brands:environmental, social and financial.
  • Millennials seek greater integrity from brands; walking the walk, not just talking the talk
  • Millennials expect dialogue rather than monologue, and in return share and recommend ‘brands’ with their peers 
Strategies and Implications

How do we address these desires of Millennials in our marketing? Here are some aspects as they may relate to Independent AVON Representatives:

Promote AVON's Socially Responsible Products 

Talk up AVON's efforts to make a difference in the world: mPowerment,(against domestic violence),Crusade(seeking a cure for Breast Cancer), FREE Trade skin care, no animal testing, Green products and strategies, Haiti Relief

Walk the Walk

Show your involvement! Get personally involved in causes important to you which complement the products you promote. Have you registered for "The Run for the Cure?" See: Making a Difference.

Engage in Dialogue

Some useful online strategies: Social media, online forums, polls, contests that ask an opinion, and engage others in voting on answers, Chat rooms, and Skype. What ideas do you have for letting Millennials know they are heard, and involved?

Related Books and Articles

1 comment:

Suzanne said...

Several members of Future Dynamics are really walking the walk, by raising money for the Breast Cancer Foundation and volunteering their time and assitance for the Breast Cancer Foundation's Run for the Cure.

Have You Read These?