Influencer Marketing via social media channels is a relatively new component of the modern promotional mix.
For several years, many established marketing agencies and directors dismissed the tech-facilitated marketing element as just another digital bubble, not worthy of a budget line. However, as Influencer Marketing has grown into an entire industry in and of itself (Instagram Influencers alone were considered a $1 billion dollar market in 2017), the effectiveness of Influencer Marketing is no longer being dismissed.
Perhaps you’ve heard of Influencer Marketing at an annual conference. Maybe you’ve responded to some sponsored content on your personal social media feeds. If you’re like most 21st century professionals, you’ve been exposed to Influencer Marketing, but aren’t really clear as to what this whole “influence-thing” is.
Millennials are changing just about everything, from how we live to where we shop.
Their generational preferences for authenticity and social values have sparked widespread innovation across industries, and the American workplace is no exception.
In 2016, Millennials made up 25 percent of the workforce, and are projected to reach over 50 percent by 2020 (MediaPost). As demographics continue to change due to Baby Boomer retirement and continued immigration, the Millennial influence within the workplace will move from novel to normal. According to Pew Research Center, Millennials will dominate the workplace by 2025, holding over 75 percent of American jobs.
The millennial lifestyle has been bemusing cultural influencers, organizational leaders, and marketing professionals long before they received the not-so- complimentary (nor accurate) “Snowflake Generation” sobriquet.
From living with their parents longer than previous generations, to challenging traditional consumption patterns, millennials – and their very millennial-lifestyle – are changing the way to do just about everything.
To better understand this generation of digital natives, one can benefit from learning a little bit more about how millennials live, what they prioritize, and how their beliefs and values with continue to influence our future.
At over 80 million strong, the millennial generation is changing the way just about everything works – including work.
Trailblazing millennials are forgoing traditional work opportunities in favor of something that provides a lot more freedom –entrepreneurship.
As millions of millennials start their own businesses and say “yes” to hiring themselves, the way we work is forced to quickly evolve. Full-time employees are being replaced by independent contractors, and old school 9-to-5’s are being converted to virtual positions (margarita by the beach, anyone?).
“It doesn’t matter how much money you throw at Facebook ads – millennial consumers aren’t going to bite unless you do away will all this elitist corporate party line crap!” I (exasperatedly) expressed to an old-school business exec.
“We are not deviating from the proven safe zone. I know you’re pretty new to business, but in my forty years of experience, standard corporate messaging always works. Consumers don’t fear what you don’t tell them,” he replied.
2017 is the year of the millennial – millennial purchasing power that is.
With annual spend estimates of $200 billion, the millennial market is flexing its influence in all industries – from automotive to food to healthcare to technology.
Millennial consumers’ demands and preferences continue to shape how we live, work, and play; and they are using their digital presence to influence how other generations spend as well.
Millennials love to give, in fact, Generation Y has even been hailed by some as the most charitable generation.
According to Achieve’s Millennial Impact Report, 84 percent of millennials made a charitable donation, and 70 percent spent at least an hour volunteering.
Despite being one of the most cash-strapped and indebted generations in American history, millennials have proved their generosity is not economically governed.
“The millennial market is driving me mad!” is a statement I routinely hear from organizational leaders of the Baby Boomer and Silent Generations. At times, it seems as though there is no limit to the generational differences between Millennials and their predecessors.
With Millennials representing over $200 billion in annual buying power, Generation Y (and their “frustrating” worldviews) are not a force to overlook. Established organizations seeking continued relevance in our ever-changing world will need to incorporate millennial-friendly practices and strategies into their operations.
The generational gap between millennial behaviors and priorities is a well-documented area of friction between that of previous generations.
I love the healthcare industry.
One of my very first “real” jobs was working as a Resident Assistant, turned Weekend Cook, turned Activities Director, turned Marketing Intern, at a rural long-term care facility in the heart of Sweet Potato Country, USA (Vardaman, Mississippi, anyone?).
There were some great moments, like receiving over a dozen hugs from my newly adopted “grandparents” after every piano rendition of “When the Saints…”
When you hear the term “Millennials”, do you think of young parents?
Recent statistics say you should.
According to 2015 Goldman Sachs report, almost all of new mothers – nearly 90 percent – were millennials.
Wasn't it just yesterday this debt-strapped and unemployed generation was leaving college to Occupy Wall Street and move into their parent’s basement?
Well, now they are starting their own families and, in true millennial fashion, rewriting traditional gendered roles as they go.
Goldman Sachs reports American parents currently spend $1 trillion each year on their children, not including college costs - a figure that is forecasted to grow in coming years.
Becker Digital is a full-service Marketing and Public Relations Agency dedicated to empowering mission-driven organizations to reach their goals. We apply our expertise in community development, social media strategy, and public relations to connect organizational clients with today’s always-scrolling online users.