Marketing to men in the modern age is similar in some ways to marketing to women, and significantly different in others. Both genders shop, but women tend to influence up to 95% of all purchases. Yet more men buy on their mobile devices, and purchase far more event tickets and digital content than women.
Knowing these kinds of trends can make it a great deal easier to sell your products and services to men, for greater profits.
Marketing to Young Men
Marketing to “Millennials” is one of the hottest new areas of marketing attention that could turn huge profits if your message is on point. Millennials are not as clearly defined compared with Baby Boomers, but as a general rule they were born in the 1980s to early 2000s, and they tend to have a significantly different outlook than previous generations.
There were more 23-year-olds — 4.7 million of them — than any other age, according to census data from June 2014. The second most populous age was 24, and the third was 22. By 2020, Millennials will make up one-fourth of the US population, topped only by those over 50, which will make up more than one-third overall.
As Millennials age and their purchasing power grows, so too do the opportunities to attract this age group.
We can divide this age group into:
- Married/in a relationship, but no kids
- Married, with kids
Understanding the needs and motivations of each of these sub-groups can create a win-win for both you and them. They get high-quality products and genuine solutions to their “pain points” for a reasonable price, and you earn profits.
Even better, you have the opportunity to gain a loyal following who will be willing to share your marketing message to others through social networking, email and more.
Millennial men are the best educated of any previous generation, with the largest percentage having attended college. They are also the first generation to grow up and mature in the wake of the recession of 2008, so their consumer behavior is different in a number of ways.
College & Student Debt…
Many of the new college graduates have student debt to pay off. Jobs for younger people have been scarce due to major cutbacks. The wage growth for younger college graduates has only risen slowly since the recession, so their salaries are well behind the starter salaries of previous generations.
More debt and less discretionary income means many of them are putting off many of the big decisions and purchases that people of past generations would have, such as car purchases. They also delay moving out of their parents’ house, which means buying household items for the “bachelor pad.”
They buy things their parents rarely purchase, like energy drinks and e-cigarettes. They buy more electronics and digital items as well. If you are not already gearing your marketing message to male Millennials, it’s time to focus on what they really want, and provide it at a reasonable price.