According to a report released by the Boston Consulting Group, millennials will outnumber baby boomers 78 million to 56 million by 2030, and they are starting to form brand and shopping preferences that will likely stick with them for a lifetime. Marketers have to evolve and be much more interactive to attract and retain millennial consumers. Gone are the days of commercials and print media ads; millennials drive and demand a two-way, reciprocal marketing approach. Brands of all sizes try to connect with millennials to understand what drives their attitudes and behaviors, but unfortunately millennial voices are often underrepresented within typical marketing research forums.
Everyone is a panelist, but are all voices heard equally in marketing research?
Millennials are changing and shaping the way we use technology. Researchers around the world are intrigued by their new ways of thinking and their ‘take-the-reigns’ personalities. This generation doesn’t let things slip through the cracks; they’re paying attention to all of the details. With in-the-moment mobile research becoming a reality, are we fully embracing such a powerful group of consumers?
Millennials now represent the largest segment in the workforce today surpassing GenXers and Baby Boomers. With this growing pool of talent, we need to step back and look at the marketing research industry. Millennials are known to be tech savvy, social media connected and diverse in their skills, but are we fully tapping into this generation to evolve?