Short,Sweet to the point – pictures speak a thousand words – and this really does explain the Generation Y “Millennials” The Millennials were born between 1981 – 1994. There are 80,000,000 and counting! With the Millennials, they want to build up the relationships and the trust first – then will buy 2nd – this is key to the small business company – this is why social media is so important to engage in!
So, who are the Millennials?
- They grew up with technology – computers, cell phones, internet etc.
- They are also known as the “Entitlement” generation
- They are the 2nd largest generation to be entering the workforce under the Boomers
- They are plagued with high levels of student debt
- Boomer and Late X’er parents raised them to be sheltered and to constantly build Millennials’ self esteem
- They are also more ethnically and racially diverse than older generations
So what Social Networks do the Millennials use?
- Google+ – YouTube
Here is a great infographic that goes a bit deeper – if you want to take a look. I personally scan things and then go back and write my notes and expand more on the subject matter. But bottom line – you have to know who your “Target Audience” is and you have to know about them! Understanding their technology habits is key to your business success.
But listen up! Most Millennials use at least (2) internet devices every day! 19 out of 20 Millennials globally OWN smart phones and they check them on average 43 x’s per day! The U.S. Economy? Try this on for size. They spend $600 BILLION per year and by 2020 it is projected that they will be spending 1.2 TRILLION DOLLARS!
Understanding your target audience is key to your business success! Is Generation Y – our Millennials your target audience?