The “Y” generation is currently the most important consumer generation. They are the largest generation and are positioned to have more spending power than any other generation in history. But as a general rule, they don’t trust brands or advertising. This is creating a major problem for marketers.
In a recent study, it was discovered that Generation “Y” prefers to ask their friends first when it comes to discovering new products, researching product information, and considering purchase decisions. It is clear that “word of mouth” advertising is very powerful for this target market.
– 98% of this generation is more likely to engage with a friend’s post over a brand’s post.
– 95% of Generation “Y” says that friends are the most credible source of product information.
– 91% of this demographic group would consider purchasing a product if a friend recommended it.
The million dollar question becomes how you can engage your customers where only 6% of the most powerful demographic group considers online advertising to be credible.
The answer is “Social Media”. This Generation “Y” group are digital natives. They were raised in an Internet world with little memory of life before the Internet and Social Media. Technology is second nature for this generation. They have embraced social networks more than any other generation.
They have the highest social networking penetration of any generation and the highest corresponding Facebook and Twitter user rates. Over half of us Twitter users are part of this generation.
More than 50% of Generation “Y” interacts with friends’ social posts at least once a day. 83% say sponsored stories make their Social Media experience worse and 67% never click on sponsored stories.
My suggestion is that you create something important for them. If your product, service or brand is important and relevant, you will achieve your goal through the proper use of Social Media marketing channels.
SocialChorus. “Millennials as Advocates Survey.” Survey. July 2013.