Marketing to millennials is essential for any successful business. According to Forbes, there are over 80 billion millennials, or rather 80 billion people who were born between 1982 and 1993. Millennials will make up 75% of the work force by 2025. So you should no longer still be wondering whether or not marketing to millennials is a good marketing strategy.
The Pew Research Center, a nonpartisan fact tank, launched a series of studies in terms of millennials. A basic understanding of who millennials are were presented in the beginning of the series. Basic information included that millennials are more ethnically and racially diverse than any other generation: with 18.5% Hispanic, 14.2% black, 4.3% Asian, 3.2% mixed race or other, and 59.8%, white. Millennials are more politically aggressive according to the 2008 election results and other political engagements. Millennials are also the least religiously observant generation.
An important note for marketers, especially digital marketers, is knowing that the millennials “are the first generation in human history who regard behaviors like tweeting and texting, along with websites like Facebook, YouTube, Google and Wikipedia, not as astonishing innovations of the digital era, but as everyday parts of their social lives and their search for understanding.” Businesses should also be aware and know that millennials are more likely to put their trust in institutions that other generations.
How to Understand and Market to Millennials
Understanding millennials can be complicated. The millennial generation is so different from previous generations and so diverse within its own generation. Marketing to a group that is so diverse can be challenging. Fortunately, today we have the technology that will help us better understand millennials and create marketing strategies that will get right to their heart.
AI chatbots and learning machines have incredible capabilities to capture data of users of all devices. Since people are constantly using their computers, smart phones and smart televisions, and every other digital device, people’s actions and interests are constantly being tracked and data is compiled. Social media, including Facebook and Instagram, is constantly compiling information about users through their daily interactions.
AI Chatbots Power Marketing to Millennials
In a recent article featured in Venture Beat, Hira Saeed writes that as technology is able to track behavioral patterns and interests of users, “machine learning can help turn data into information, knowledge, and wisdom.” By tracking all the vast information and the various data points about millennials, companies can see what interests millennials and what draws their attention. “AI is indeed the ultimate weapon in the fight for the millennial generation’s ever-shortening attention span,” Saeed says.
AI machines and chatbots have more efficiency than any market research or focus-group study. AI machines are continually compiling data to study and understand users. They can keep up-to-date on what people do and like. People constantly change, especially millennials. Millennials have short attention spans and a me-me-me personality so they get what they want when they can. To understand them and market to them, AI machines and chatbots provide the best means to do so.
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