Proprietary Data: Millennial Consumers

The Center for Customer Insight invests in driving proprietary research on Millennials and thus provides a source of competitive advantage for companies looking to tap into this rich market.

The Millennial generation is already a larger group than the baby boomers, accounting for $1.3 trillion of total direct spending—$430 billion of which is direct discretionary spending. But thus far there has been little hard data on this enigmatic and influential generation.

To gain a better understanding of Millennials and provide guidance to companies looking to engage with them, the Center for Customer Insight, together with the Barkley and Service Management Group, surveyed 4,000 Millennials (ages 16 to 34) and 1,000 non-Millennials (ages 35 to 74) in the United States. The results of these surveys give us a detailed, multilayered understanding of this generation. The quantity and quality of our insights are unmatched:

  • Generational attitudes and behavior as they relate to topics such as “cause” marketing, word-of-mouth and advocacy, green consumers, and trading up and trading down
  • Industry deep dives within the grocery, restaurants, apparel, and travel and tourism industries

Millennials’ expectations are different from those of previous generations, and companies will need to rethink their brands, business models, and marketing accordingly. Yet our research shows that many executives who make product and service decisions for their companies have negative or dismissive attitudes toward Millennials.

It is quite clear that companies will have to understand, accept, and embrace the characteristics and values of this generation if they are to create and market relevant products and services that resonate with Millennials and meet their needs.

The Center for Customer Insights works with companies to identify how to best position and market brands, products, and services with this group—how to turn an understanding of Millennials into a lasting competitive advantage.

Six Effective Tactics for Marketing to Millennials

  1. Communicate clear, measurable goals.
  2. Create a cross-media, cross-channel brand presence.
  3. Make sure marketing communications are relevant.
  4. Reinforce reputations within the channels most used by Millennials.
  5. Relate to Millennial constituents: consumers and their associates.
  6. Cultivate Millennial referral.
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