In order to attract more viewers for our client KLRU we decided to analyse a potentially new customer segment, that the company had problem reaching in earlier marketing campaigns, the Millennials. According to Wikipedia Millennials, also known as Generation Y or Gen Y, are the generational demographic cohort following Generation X and preceding Generation Z. There are no precise dates for when this cohort starts or ends; demographers and researchers typically use the early 1980s as starting birth years and the mid-1990s to early 2000s as ending birth years. Although many people still imagine millennials as very young and immature, the facts are that millennials make up 25% of the us population, 53% of millennial households already have children and millennials have a huge influence on the older generations (millennial marketing, 2018). So not only are Millennials easy to find online, but they have the largest combined spending power of any generation, and that is the reason many companies adapt their business models to better reach millennials and I believe KLRU should also adapt their marketing strategy in order to be a more attractive information channel for millennials. With the help of the empathy map framework we will try to get new insights into this customer segment.
- What does he or she think and feel?
Millennials are already young working professionals who care more about work life balance than the previous generations. For them the life next to the work often counts more then the work itself. Therefore, work is often not the major preoccupation for them, but sports, vacations, trips and hobbies. Most of the millennials have a perception of life that is focused on the individual and want to enjoy their life as much as possible. Millennials have no problem trying new, innovative brands and don’t express a feeling of loyalty. Millennials seek relevancy, therefore companies have to give them a reason to connect and return.
- What does he or she see?
According to the web page millennials marketing 46% of the millennials have more than 200 friends on Facebook. Because they are early adopters of new technologies, they also use other social media accounts where they again have many online friends. Furthermore, 70% of millennials feel a responsibility to share feedback after a good or bad experience (millennial marketing 2018). This means that the average millennial sees a lot of his or her information though social media, posts of his friends (which are often a large number) and gets a lot of his information from their feedbacks on their experiences.
- What does he or she say and do?
Millennials grew up in an era of technology, with access to unlimited amounts of information. Consequently, Millennials are used to receive answers fast and expect this also in real life. They want an instant feedback how they have done something, and also feel responsible to give feedback on their experiences. The often don’t say it out loud but use social media to communicate their message. They don’t have a strong feeling of privacy and expect that their voice will be heard by the public.
- What does he or she hear?
In the same way as millennials share their thoughts they also want to hear other people thoughts. There are four main influencers in their life: family, friends, bosses, trend setters. Most of the millennials look up to influencers and trend setters and idolize their behaviour because in today modern society they have fulfilled all the basic needs of the Maslow’s pyramid and now the try to reach self-fulfilment or deep cause. Since these goals of self-fulfilment are difficult to reach alone, they look for people for which they believe they have achieved something great and tend to follow them. I would say the parent are regarded as old and outdated and lose a lot of their influence. While their friends’ opinions are very important the definition of friend has changed. Since millennials have hundreds of online friends, I think they care more about the peer pressure then the opinion of close friends. Bosses also lost a lot of their influence since millennials don’t like direct commends and don’t want to do jobs for which they don’t see and challenging or for which they don’t think they have a purpose. This fact in combination with the impatient feedback expectations make them difficult to be managed.
- What are his or her pain points?
Millennials don’t like to be labelled as one homogenic group but many different subgroups. Moreover, every member feels special and likes to be regarded as special and therefore expects a service that is tailor made for them. Half of the millennials surveyed by Forbes in their study “Understanding The Research On Millennial Shopping Behaviors “appreciate when brands make ads and social media relevant to them. Personalization and relevancy are key marketing tool to make this group happy. Another pain point is that older generations describe Millennials as entitled, irresponsible, flighty, immature and petulant. They are often characterized as unable to handle business and struggling in the real world.
- What does he or she hope to gain?
According to Forbes millennials had a few goals that every marketer should be aware. First of all, Millennials want their purchases to make them feel good. The brand must speak to them at this level and make them feel like they have made the right decision. Secondly, Millennials place value on experiences. Half of millennials prefer to spend their money on experiences over material things. Finally, Millennials want to feel relevant and give a meaningful contribution to the society, work or family. This is very important insight, because Millennials are not incentivized by material goods but experiences, good feelings and relevance of their actions.