Last week in the Atlanta Business Chronicle newspaper there was an article entitled “Millennials and the real estate market.” It discussed how this generation of people – ages 16-34 – are going to be larger than Baby Boomers in number and their buying habits and decision making processes are different than any other consumer group businesses have had to market to before. Many inaccurately perceive Millennials to be lazy, demanding, inpatient, and tech-savvy. Tech-savvy they are, but some of the other negative characteristics are less true.
Millennials have money, are cautious spending it, research purchases, and value their friends opinions about brands. They are constantly multi-tasking, so short messages work best when advertising to this group. Also, messages that will reach Millennials on mobile devices, tablets, or the Internet work best; however, this group watches 20 or more hours of TV a week, so this “traditional” marketing medium shouldn’t be forgotten when targeting Millennials. The article points out that this age group will be the largest group of consumers for real estate quickly and your marketing messages should be targeted to reach them.