Marketing to millennials
Marketing best practices
Every decade or so, world events, technological advancements, or other factors create a generational shift in the population. General habits and behaviors can change drastically as they reflect the dominant generation’s specific tastes. As the turn of this decade approaches, today’s society is indeed shifting with Millennials, who are quickly becoming the most dominant and influential generation of today.
According to the Pew Research Center, Millennials are defined as individuals born between 1981 and 1996. They are a generation rooted in technology and are currently on track to be the most educated in U.S. history. In fact, Millennials are expected to overtake the Baby Boomers as the largest percentage of U.S. population by the end of 2019. The spending patterns, lifestyle choices, fashion trends, and even communication styles attributed to the Baby Boomer generation are, consequently, becoming increasingly dated.
With majority in size comes immense financial might. Recent estimates indicate that Millennials will have $3.39 trillion in spending power by the end of 2019. But how they spend and what they spend their money on can be considerably different from previous generations of patients.
Many healthcare practices still rely on the same “call for an appointment in 6 weeks and wait until we can see you,” model. While that may work with the middle-aged population, it’s a model falling more and more out of step with younger consumers. Especially among dermatologists and plastic surgeons, who focus on out-of-pocket aesthetic services, understanding how to attract and satisfy this burgeoning demographic is vital to short- and long-time success.
Millennials will make up 75% of the global workforce by 20251
What does this mean for you?
Find out with our Marketing to millennials: Download “OUT WITH THE OLD, IN WITH THE NEW” marketing playbook.
Marketing Best Practices
1. Pew Research Center. Millennials. Available at www.pewresearch.org/topics/millennials/. Accessed April 23, 2019.
2. PwC, Millennials at Work: Reshaping the Workplace (2011): p. 3. http://mediakix.com/2018/04/what-is-a-millennial-demographics-statistics/#gs. d7vssp
Marketing to Millennials
1. Who Are Millennials. Millennial Marketing. Available at: http://www.millennialmarketing.com/who-are-millennials/. Accessed on December 14, 2018.
2. Curves over career: One in four millennials care more about their body image than career. HR News. 21 March 2017. Available at: http://hrnews.co.uk/curves-career-one-fourmillennials-care-body-image-career/. Accessed on December 14, 2018.
3. Friedman, L. Millennials And The Digital Experience: Getting Your Digital Act Together. Forbes. Available at: https://www.forbes.com/sites/laurenfriedman/2017/02/08/millennials-and-the-digital- experience-getting-your-digital-act-together/#6763501c730d. Accessed on December 14, 2018.
4. Is Advertising to Millennials on Facebook and Instagram a Lost Cause. Available at: https://www.adweek.com/digital/is-advertising-to-millennials-on-facebook-instagram-a-lost-cause/. Accessed on December 14, 2018.
5. 10 New Findings About the Millennial Consumer. Available at: https://www.forbes.com/sites/danschawbel/2015/01/20/10-new-findings-about-the-millennial-consumer/#35508016c8f4. Accessed on May 31, 2019.
6. 2018 ASDS Consumer Survey on Cosmetic Dermatologic Procedures. American Society of Plastic Surgeons. Available at: https://www.asds.net/Medical-Professionals/Practice-Resources/ASDS-Consumer-Survey-on-Cosmetic-Dermatologic-Procedures. Accessed on December 14, 2018.
7. 10 New SDL Study Shows Millennials are 56 Percent More Likely to Discover Marketing Content on Social Networks than Via Search Engines or Email. Available at: https://www.sdl.com/about/news-media/press/2014/new-sdl-study-shows-millenials-are-more-likely-tomarketing-content-on-social-media.html. Accessed on December 14, 2018.
8. Social Media Use in 2018. Available at: http://www.pewinternet.org/2018/03/01/social-media-use-2018-appendix-adetailed-table/. Accessed on December 14, 2018.
9. 10 Stats that Will Make You Rethink Marketing to Millennials. Available at: https://www.wordstream.com/blog/ws/2016/02/02/marketing-to-millennials. Accessed on December 14, 2018.
10. 40 Facts About Millennial Consumers. Available at: https://www.becker-digital.com/blog/40-facts-about-millennial-consumers. Accessed on December 14, 2018.
11. Marketing to Millennials Research Report. Available at: https://www.fluentco.com/resources/marketing-to-millennials/. Accessed on December 14, 2018.
12. Phone Calls, Texts Or Email? Here’s How Millennials Prefer To Communicate. Available at: https://www.forbes.com/sites/larryalton/2017/05/11/how-do-millennials-prefer-to-communicate/#2e2401b36d6f. Accessed on December 14, 2018.
13. Psychology of Successfully Marketing to Millennials. Available at: https://appliedpsychologydegree.usc.edu/blog/psychology-of-successfully-marketing-to-millennials/. Accessed on December 14, 2018.