Millennials, born between 1980 and 2000 have grown up in a time of rapid change, giving them a set of priorities and expectations that differ sharply from previous generations. Their personas have been shaped by 9/11 and the 2008 financial crisis, and, according to the Pew Report, this has impacted their belief systems and the way they view the world and themselves.

Millennials may be a generational slice of the demographic pie – but from a marketing perspective, they can be segmented in many ways, so your marketing efforts can reach the right targets for your offer.

Millennial Home Buying

56% of first time home buyers are millennials. Any real estate or mortgage broker who isn’t marketing to this key group is missing the boat.

• Peak home buying years between 30 – 45
• 48.6% of millennials own homes  = 35MM homeowners
• Many priced out of the market
• Nearly 20% of millennials expect to rent forever
• Trend – affluent millennials renting for lifestyle
• Trend – increased number living with parents (25% of U.S. adults age 25-34 lived in multi-gen HHs in 2021)

Millennials are having children. That means medical and dental practices, religious and educational institutions, as well as financial and insurance companies need to target their marketing messages to them.

Millennials are turned on by social responsibility. Non-profits need to focus on this generation. They may be the worker bees of today, but they are the donors of tomorrow.

Marketing Preferences:

• Spend $ on Socialization, Education, Apparel, Services, Food away from home, Food at home, transportation
• Second to Gen-X in terms % of population on digital
• Lowest reading magazines or newspapers
• Least time spent watching TV / listening to radio
• Most likely to shop online
• Preference for brands associated with a cause
• Ambivalence towards owning cars
• Engage around brands with corporate social responsibility

Multi-Platform Strategy

Millennials use multiple devices – mobile phone, tablets, desktop

• 55% of millennials watch video several times a day on different devices
• 72% wants to connect to the news on all of their devices
• You need to go where their eyes are
• Content needs to be relevant. Millennials will share relevant articles, podcasts, videos and other media with their colleagues and friends. They consume content while driving, exercising – popularity of podcasts with this cohort.

Top Direct Marketing Lists for Millennials

Use direct mail as the anchor to your campaigns. Direct mail brings trust into a campaign – but millennials want to see the same message across all marketing channels.

Use mail – email – social and coordinate them in terms of timing and omnichannel messaging.

• First Time Home Buyers
• Families with Children
• Student Loan Holders
• New Parents
• Refinance Prospects
• GreenAware – Eco-Friendly Consumers
• Ethnic/Religious overlays
• Modeled Credit score
• Lifestyle Interests
• Lists by Occupation
• New Movers

Multi-channel messaging is key. Make sure you reach out to millennials through as many marketing channels as possible to strengthen your impact.