The Early Millennials (Born 1997-2001) are not a generation in waiting; they have arrived and form an integral part of the market. Born in an era of rising affluence and ample choices, they have never really known the meaning of unfulfilled needs.15% of the major consuming classes (15-55 years SEC ABC, urban India), they form astrong 28 million base of potential consumers. With a third of them having their own source of personal income, and another third driving household purchase decisions, they are today the biggest influencers.
Five mantras for connecting with the Early Millennials:
#1 I am my own doctor/publisher/shop keeper/employer
Technology embodies their lives! Besides transacting online for their shopping and financial needs, they also seek self-medication solutions on line for ailments.
– Implication for brands: Build an engaging two-way communication platformand ensure that all the information available on all channels is updated, available and easy to retrieve.
# 2 I am not just empowered but also entitled
This is a generation that has grown up on reality shows where instant realisation of dreams is the norm. The Millennials have similar expectation from brands – they want it all and now. No wonder a fifth of them want a car which is comfortable, fun to drive, with innovative designs and has the capabilities of a truck.
– Implication for brands: Customisation and speed of delivery are a must for these consumers
# 3 I lead a ‘filtered’ life
The Early Millennials are in the driver’s seat and believe that advertising should be in their control. With limited attention span – they know the difference between quality content and marketing promotion. A fifth of the millennials use ad blockers!
– Implication for brands: Communicate using immersive and engaging visual content which is ‘shareable’i.e. which grabs their attention and encourages them to forward/ post within their communities.
# 4 I believe in ACM (Any Channel Marketing)
The Early Millennials are multi-channel, multi-touch point consumers when it comes to information search and shopping. They co-consume internet while watching TV. And over 40% also search for products advertised on TV
– Implication for brands: Offer a seamless and consistent experience across channels
# 5 I make new memories and cherish the old
The millennials have often been called nostalgic futurists – they are 20% more likely to listen to old film songs, tune in to remixes on radio and watch mythological shows on TV.
– Implication for brands: Nostalgia marketing works. Share a compelling blast from the past and build an emotional connect with the Early Millennial