22 October 2008

Online Marketer not Targeting Millennial Consumers

Online marketing not targeting Millennial Consumers say insiders Millennial Consumers, or those born between 1982 and 2001, are not being reached by marketers, though they are aware of the tactics most likely to appeal to them, a new survey has found.

Sponsored by Genesys and undertaken by the Economist Intelligence Unit, the poll discovered that four out of ten executives acknowledge that Web 2.0 technology is the best way to target millennial consumers. When asked about the chief ways in which these end-users browse and buy goods though, the top three channels given were telephone, emails and physical storefronts.

The Four C's - convenience, customization, community and cool drive millennial purchasing behavior, though the poll found that most marketers are aware of these aspects, "they lack the wherewithal to capitalize on them.

The young generation put forward to develop online industry, they know very well how to target and attract the millennial consumers. The popularity of U- tube. Social site like bebo, my space is the clear-cut indicator that the young group holds the potential to drive the online industry. Both way industries ignore the importance of youth. The innovative and creative thinking still banned and out of box thinking is not accepted.

This market segment (millennial) is having tremendous potential of purchasing power, they never hesitate to purchase online, but the same way they change there preferences and product very fast. The online marketer should concentrate about this fact and devise the innovative marketing strategy and product portfolio, which impact on the mind of your millennial consumer.