As Millennial shoppers continue to be a hot topic among marketers, a new study from Crowdtap takes a look at one of the demographics’ newest roles: parenting. A quarter of all U.S. households are led by Millennial parents, and their affinity for technology is changing the way parents are being targeted in marketing. With an estimated $2 trillion of global purchasing power, understanding how to effectively communicate with Millennials can spark significant profit growth for brands.
According the study, simply titled “Millennial Parents Report,” the new generation of parents relies on social media for parenting tips. In fact, 46% of Millennial mothers cited social media as being “extremely helpful” in parenting, creating a golden opportunity for brands to focus marketing efforts into these emerging channels.
To further underline the chance for social media marketing, 49% of Millennial moms and 37% of fathers use social media at least once a day for parenting advice.
In terms of which social networks are most popular among Millennials, the study shows that site preferences shift as users become parents.
After having children, Millennials, especially mothers, are more likely to spend time on YouTube, Instagram, and Pinterest. This is likely due to a desire for visual advice, rather than text-heavy articles from Twitter or Facebook. Again, this trend may prove vital to marketers able to effectively leverage these social networks to communicate directly with the technologically savvy new parents.
In another valuable piece of research, the report indicates that Millennial parents are most looking for added value and customer service in return for their business. For brands looking to build customer loyalty, customer experience continues to play a large role for younger generations.
“As Millennials increasingly transition into parenthood, marketers must understand and speak to this digitally native and highly influential cohort as individuals who are dedicated to their families,” said Rachel Schwartz, Director of Client Success at Crowdtap. “The goal of this report was to unearth key insights to educate marketers aiming to better connect with this up-and-coming generation of parents.”