Though the marketplace for millennial products and services seems to grow every day, it often appears as though millennials are strange, exotic creatures for brands and the media want to watch, study and analyze. Yet according to the U.S. Census Bureau, there are now more millennials than baby boomers in the country, which makes us the largest consumer group.
And not surprisingly we’re also taking over the workforce—By 2014 36% of the U.S. workforce will be comprised of millennials and 46% by 2020. So how do brands and businesses account for this? And what about the naysayers? Some recent articles have not been as optimistic about the millennial generation, stating that most millennials are broke and in debt, materialistic and wondering if we’ll ever achieve the wealth and status of our previous generations.
But at Ketchum, our millennials are the opposite, and we’ve recognized an opportunity to leverage our insights and ambitions. The millennial shift introduces new opportunities for achieving and maintaining brand dominance in the marketplace, with one of the key pieces being brand relevance. Because of this, it’s important our clients know millennials inside and out to answer the important questions—What are we thinking? What do we like? What do we mean when we say something is “Awesome” or “Epic”?
Enter The (Epic) Ketchum Millennial Network – an internal network that comprises more than 50 colleagues from every office in the U.S. (ages 22-34), who work together to crack the millennial code for our clients and to better understand our generation. This group shares articles, videos, brand preferences and insights, and is fully equipped to help out when Ketchum clients need a millennial perspective for anything as simple as a media pitch or as big as an overall product launch strategy, or when teams need help on a new business opportunity. At Ketchum, we realize there’s no better network to tap than our own employees, especially when there’s so much ever-changing information about millennials’ preferences—from our hopes and dreams to what and when we make purchasing decisions.
Together we are helping our clients “speak millennial” so they understand what our network already knows— that with us, it’s about getting a brand from “Awesome” to “Epic.” (And understanding the difference between the two!). It’s safe to say that speaking this language will only grow in importance, and at Ketchum we’re translating it well.
Photo credit: www.firebellymarketing.com
