Millennial Mom & Dads Are Now The Majority
Today more than ever, you can’t click on a marketing article without seeing the word Millennial. And with good reason too: while they were being blamed for killing off just about every industry in existence, they amassed closed to $200 Billion in spending power.
They’ve recently reached a new milestone as well. Millennials now make up the majority of the parenting community, with 10.8 million households that have moms and dads between the ages of 20-36. Plus, 80% of children born this year have millennial parents.
As more and more Millennials transition into parenthood, this gives brands an opportunity to attract a new customer base. But, it’s a tricky target. We mentioned the plethora of pieces written about Millennials earlier – they’re extremely unique, making it a challenge to connect with them. Pair that with their shift into a parental mindset and you get a target that’s much different than a traditional parent.
The most prominent attribute this brings out is that they take a more collaborative approach to parenting, jointly running the household vs. the more traditional mom-centric approach. They value authenticity and look for ways to bring their family together – two important characteristics brands need to demonstrate in order to reach this target effectively.
They key to winning with these new households is keeping in mind both the Millennial and parenting mentality. Authenticity and the creation of family time are paramount to this target. They create the opportunity for transparency for the brand and build trust with Millennials – something they need as transition into the overwhelming world of parenthood. If you show your brand can be trusted and delivers what it says, you’ll create customers for life.
To find out more about the millennial households and why it is important to market to them correctly, contact Donovan connective marketing at: 717.560.1333 or http://www.donovanadv.com.