Marketing to Millennials: 6 Audience Segments To Keep In Mind

There is so much attention on the Millennial Consumer market today. Which should come as no surprise being that Millennials have the largest combined spending power on the planet. The only problem is that there are several different types of Millennials with different needs, pain points, aspirations and life circumstances. Millennials are not a homogenous group and cannot be treated like one. Today, marketers are forced to look at real segmentation, based on age, culture, income and family structure.

By tapping into the six different Millennial Markets, businesses can refine their strategies to appeal to each consumer niche. Take a look at the breakdown of the Millennial Micro Markets below. Pin point which markets you want to target the most and continue to develop the avatar of your ideal consumer so that you can better understand and market to the individual!

College Students (18-23 yrs old)

• Highest users of social media
• Value education, social experiential events/festivals, travel
• Heavily influenced by peer approval
• Looking for work experience and internships 
• Socially hyper-connected
• Communicate and Purchase via mobile device
• Active in brand promotions on social media

Boomerang Babies (23-26 yrs old)

• Entry level job workers 
• In student debt
• Value savings, job security, and experiences over big ticket items 
• Active in Gig and Sharing Economy
• Communicate, shop, and work from mobile device
• Active in brand promotions on social media

Millennial Hustlers (26-29 yrs old)

• Transitioning from corporate employee to entrepreneur 
• Serial Multi-taskers
• Hyper-Connected
• Looking for funding and validation for first entrepreneurial adventure 
• Value networking and business collaborations
• Communicate, shop, and work from mobile device
• Value loyalty and reward programs
• Value business with strong Corporate Social Responsibility efforts

Millennial Mom & Dad (29-32 yrs old)

• Mommy Bloggers (1 in 5 moms according to BabyCenter)
• Decision influencers- make the effort to post reviews online
• Have more expenses and responsibility 
• Value a flexible work schedule and staying socially relevant with new apps 
• Striving for work/life balance
• Value loyalty and reward programs
• Value eco-free, organic, and sustainable products

Cuspers (32-35 yrs old)

• Gen X mentality who feed into millennial stereotypes
• Confused as to what generation to identify with 
• Value job growth and saving for retirement 
• Almost a quarter of this segment group have been with the same employer for 15 years or longer

Millennials @ Heart (35-38 yrs old)

• Embraced Technology and Social Media
• Digital natives who are open to change 
• Millennial-esque attitudes are a result of relationships with Millennial children and colleagues 
• Value the ability to save money and invest money