Branding for Millennials

Future generations such as millennials use technology and mobile phones at higher rate than any other generation. Multitasking, online services, "sharing economy", urban environment and ad-hoc living are just a few characteristics for the new millennials. As a result of this new lifestyle, they are savvier, constantly connected to social media.

According to The Yahoo/DigitasLBi/Razorfish/Tumblr study:

• 55% of millennials watch a video several times a day on different devices
• 7.1 is the average number of devices they have access to
• 72% want to connect to news across all devices
• Millennials consume content across multiple devices.

Due to the “shared economy” approach there is openness to consuming and “sharing” online content. According to Norty Cohen, founder and CEO of agency Moosylvania, due to the above characteristics, millennials are willing to adapt to brands provided brands will interact with them in their own language. Adapting to a brand will only happen if the brand will create a relationship with millennials and since most millennials do have a social agenda, if the brand supports a social cause, millennials will go a long way to support it.

A study by Hashtag Nation shows that millennials recognize on the one hand, the value and role brands play in their lives and on the second hand also recognize the power they have as consumers over these brands and their ability to change/effect/interact with the brand. This recognition is a tricky situation for marketers. Previously to market a brand or a product all a company needed to do was to blitz the consumers with advertising and that would do the job. That is no longer the case. Today brands need to interact with millennials and create the above mentioned relationship or friendship with them by personalizing the millennial consumer likes, beliefs, thoughts and hobbies, not just their shopping habits.

So How Do We Communicate With Millennials?

To help companies brand to their new millennial market segment the Yahoo/DigitasLBi

• Set the mood. Create an emotional association with your brand or a bond with a social cause/experience.
• Provide millennials with escapism from their hectic lives by giving a small peek at what the good life looks like; inspire them and reinforce their millennial values.
• Creativity. Creativity and more Creativity – Be creative and inspire out of the box thinking
• Highlight pop culture
• Help them success by providing tips, shortcuts, provide content that will make them feel smarter.