Millennials are obviously a big market for companies–they’re starting families, buying houses and consuming technology in various ways. But is dropping major coin on marketing to this audience worth it? A new survey on Millennial consumers says not so much.
What is? Investing in your product.
“Ultimately, the functionality of how the brand serves the consumer seems to win out,” says Norty Cohen, CEO of Moosylvania, the digital agency that conducted the survey. It found that successful marketing campaigns engage Millennial buyers by focusing on three tasks: making them look good, feel good, and keeping them entertained.
Another key finding was the persuasive power of social media and word of mouth: 83 percent of respondents said they discover new brands thanks to endorsements from friends and family. Influencer posts come in at second place, with 52 percent…