Tag Archive for: millennial

The Final Results of Cyber Monday

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Since its beginning in 2005, Cyber Monday has grown to become the most profitable day of the year for many online retailers. This year is particularly special, because it marks the largest online shopping day in US history, according to CNBC.

By The Numbers

All of the following statistics have been reported by Adobe Insights, regarding Cyber Monday of 2017.

  • $6.59 billion in transactions
  • 16.8% increase year-over-year

Cyber Monday officially surpassed Black Friday this year, which only generated $5.03 billion in transactions. It is clear that purchasing decisions are changing.

A New Generation

A lot of this change in behavior has to do with changes in the consumer base. The millennial market is currently the largest living generation, and they are having a major impact on the world of products surrounding them.

Mickey Mericle, vice president of Marketing and Customer Insights at Adobe, noted, “Consumers are also becoming more savvy and efficient online shoppers. People increasingly know where to find the best deals and what they want to purchase, which results in less price matching behavior typically done on desktops. Millennials were likely another reason for the dramatic growth in mobile, with 75 percent expecting to shop via their smartphone.”

The Age Of Mobile

Adobe Insights also reported that 33.1% of revenue on Cyber Monday was brought in via mobile devices. The Onimod Global Content Team is always producing new material on this subject. A few of our favorite articles that discuss the many benefits of mobile shopping and advertising are:

These three blog postings highlight some of the key reasons that explain why mobile is such an important asset to any business. Visit our blog to learn more by clicking HERE!

Small Businesses Conquer

It is also important to point out that small businesses were significantly better at utilizing mobile marketing strategies than large corporations. Adobe reported that these small businesses doubled the amount of conversions generated by big businesses.

How to Avoid the Most Common Millennial Marketing Pitfall

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There is a huge, understated problem with millennial marketing that so many marketers have been ignoring. The fact of the matter is that the millennial market is huge. In 2015, Millennials surpassed the Baby Boomers as America’s largest living generation at 75.4 million people.

The Simple Truth

It would appear obvious that not all 75.4 million millennials are the exact same. How could they be? Unfortunately, so many marketers and advertisers have failed to remember this simple fact. This mistake consistently results in chaotic and ineffective mass marketing.

A Huffingtonpost article written by Grant Owens brings attention to another problem with this millennial marketing strategy by stating, “Another problem is that we’ve been calling Millennials 18–35 for over 5 years. That’s not how these things work. Despite rumors, science has proven Millennials are aging at the exact same rate as the generations before them.”

Segmented Solutions

The millennial market is extensive. Common millennial stereotypes such as being technology addicted, rebellious, and environmentally conscious, are not the keys of marketing to this generation. The real key lies in your product or service, and who that specified target audience is.

In order to create an effective marketing campaign, you cannot generalize the massive millennial market. You need to find ways to segment within it. This is the only way to save you from wasting your ad dollar, and to find the more concentrated area of your target market that will actually purchase what you have to sell.

Once you have identified a specific target market and found out who is really interested in your product, show them why they should buy from your business. This can be done with relatively little data.

For instance, let’s say you are an outdoor clothing manufacturer who wants to target millennials. You specifically want to target millennials with a higher level of disposable income who will be looking to buy outdoor wear for the upcoming winter season. Using location and previous purchases, you can easily suggest new products to customers that are ready to buy.

For example, Brian in Minneapolis, Minnesota makes regular purchases from your business throughout the year. He would be the kind of consumer that is highly likely to respond to an ad for the latest and greatest winter coat you have to offer.

More From Onimod

Our digital marketing agency team members are constantly providing news on the digital marketing industry. Like what you’ve read so far? To access more of our articles please visit our blog by clicking HERE.