The First Generation to Grow Up with Social Media & Smartphones
Let’s face it…..life has truly changed in the last 20 years or so. Business and commerce happens very differently these days than it did in the 70’s and 80’s and a big part of that difference has come from the internet and online commerce. Before the internet, we picked up “the yellow pages” to find a business. Now, we go online and not only can we find a business we are interested in, but we can find all kinds of information and feedback from others about that business. Here are some interesting metrics on how millennials make buying decisions.
- Recommendations – 89% of millenials trust recommendations from friends and family more than claims by the brand. – Kissmetrics
- Social Media – Nearly half (44%) of millenials are willing to promote products or services through social media in exchange for rewards. – Aimia
- User Generated Content – 84% of millenials report that user generated content on company websites at least somewhat influences what they buy. – Bazaarvoice
- Smartphones – More than 85% of millenials own smartphones. – Nielsen
- Loyalty – 77% of millenials participate in loyalty reward programs. – Aimia
- Values – 61% of millenials are worried about the state of the world and feel personally responsible to make a difference. – Huffington Post
- Advertising – 84% of millenials don’t trust traditional advertising. – Hubspot
- Snapchat – Millenials account for more than 70% of Snapchat users. – eMarketer
- Facebook – 90% of millenials can be found on Facebook. – Hubspot
- Experts – Millenials are 44% more likely to trust experts, who happen to be strangers, than advertisements. – Hubspot
Did any of this surprise you?
The majority of millenials trust recommendations by friends and family and use the internet daily to obtain the information they are seeking and make decisions about goods and services they are considering. We’d like to hear more from millenials and address the financial security or investment questions that are of particular concern to YOU. Please use the contact form here on the last page. We look forward to hearing from YOU!