There has been a host of articles in the news over the last couple of years about the number of things that millennials have killed. Most recently, according to Business Insider, they took deadly aim at Applebees and Buffalo Wild Wings.
Other things millennials have been accused of killing include, but are not limited to:
- The last Olympics
- Yogurt and cereal
- Vacations, Cruises, and Casinos
- Running, gym memberships, and golf
- Napkins, wine corks, and bars of soap
Let’s Get Real
Okay, listen, millennials didn’t kill any of these products or businesses. They killed themselves. Death by marketing suicide.
You must know your target market. You must research, identify and understand your ideal client, and then market to them. If you don’t, they aren’t going to buy your product, solicit your services, or engage your business. It’s that simple. And if you fail to do that, for goodness sake, don’t blame them.
Millennials aren’t really any different than any other generation that has come before them. You need to put the work into figuring out their wants, needs, and desires. You need to research their buying habits and their impulses.
(And….pssst….trade secret: your target market is constantly changing!) If you assume your target market is the same that it was ten years ago, you are probably missing out on some revenue opportunities.
Marketing isn’t Static
That’s why marketing is a constant evolving machine. You should create new marketing plans each and every year and regularly evaluate the return on your investment. Data can drive your decisions and that includes researching your target audience often.
Your target market is spending its hard-earned dollars on something – don’t let your competition figure out how to earn their attention before you do.