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Marketing to Millennials

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by

Kala Laos

on 21 September 2015

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Transcript of Marketing to Millennials

Largest Generation in History
Called echo-boomers, Gen Y
Digital natives
Born between 1977 - 1995
80+ million
25% of US population
Ethnically diverse




Enigma?
Who is a millennial?
Highly educated, 1 in 4 have a bachelor's degree
$68k in medium income
21% are married
1 in 5 same sex couples are millennials
Impacted by recession
37% of 18-29 year-olds unemployed or out of the workforce
Optimistic about their future
View themselves as tech-savvy, hippies, young and adventurous
Others view them as lazy, spoiled and young
Straightforward generation


Stats & Views
Next Generation of Home Buyes
Cocreators
Changing the way of marketing
Millennials want to be brand partners
Engagement driven
Thrive with social networking
Contribute and consume more web content
60% engaged in rating and reviews


Participation Economy
Marketing With Millennials
...most power demographic of all time
Force to be reckoned with
We want Knight Rider home!
Home automation
Green and energy efficiency
Like urban lifestyle look and feel, doesn't necessarily need to be urban area
Tend to want smaller houses on smaller lots
Close to amenities
Like to be able to walk and bike places
Value experiences, i.e. spend more money on eating out
What they want in a home

1/3 of real estate transactions
Millennial buyers play a large role but...
Their ability to qualify for mortgages is often dramatically lower...student loan debt higher DTIs
Over 11% of student loans are seriously delinquent and the trend is strongly upwards, impacting their credit score
Have enjoyed flexibility of renting because they change jobs more frequently than earlier generations
Increasing impact as market recovers and they enter the marketplace


National Association of Realtors Profile
Be Engaged
Expectation of Millennials
Market with millennialls, not to them
Engagement and participation
Social media is a must for this demographic
Facebook, Twitter, Youtube, Pinterest, Google+, Instagram
Have a long term plan for listening and engaging
Millennials appreciate humor and fun
Like to use people they trust and think are cool
Use of technology is a must


Be creative!
Ideas for involvement...
Get them involved...
Logo design
Marketing campaigns
What is the best time for open houses
Pick the design trend...show examples of different designs and ask to "vote" on it
Add a questionnaire to your website...offer a free t-shirt if they fill it out
Pick the new logo?
your Voice matters
what logo do you like best?

FREE t-shirt with every vote!
What's important to YOU in a house?
your Voice matters
given the same cost, would rather have

FREE t-shirt with every vote!
Chef's kitchen
Solar panels
Design trends?
your Voice matters
which color scheme do YOU think is better?
FREE t-shirt with every vote!
Sharing is Caring
Cause Marketing...
Millennialls donate the same amount of their resources as other generations
50% more likely to use a brand or service that helps others
37% more likely to pay more for brand or service if they help cause they support
Have a great BS meter
Be authentic
Tie yourself to a specific cause

Smell the roses? Not if you're a millennial.
Millennials heart technology
53% would rather
give up their
sense of smell

than give up their
technology
Greys
Browns
Create raving fans
Millennials are passionate about their experiences
They will tell all their "friends" about you
More willing to share their experience if it makes them look good
Friend all of their friends
Keep the pipeline full with their valuable referrals

Full transcript