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How Brands Dupe Millenials

[Name of the Writer]

[Name of the Institution]

How Brands Dupe Millenials

Introduction

Marketing in the digital age focuses on the fast-evolving digital business environment. Majority of the target audience is millennials. The people born from the 1980s until 2000s are often referred to as millennials. The term “millennial” has its own marketplace. In the US alone, millennials account for spending roughly $600 billion annually. These trends are the result of effective marketing that brands have done over the years. Of many successful brands, one that is under discussion in this paper is “Acorns”.

Discussion

Launched in the year 2012, Acorns is a micro-investment platform that lets its users invest their spare change and make greater returns. Acorns’ net worth stood at $800 million in 2018. To understand what makes this simple, yet effective, platform so successful, one needs to dive into the psyche of millennials. Millennials are focused on saving for later. They demand financial security and preach self-reliance. In fact, according to Forbes, one out of six Millennials have officially saved $100,000. Acorns capitalized upon this. They projected their platform as the ultimate saving bank that provides hassle-free one window investment. Another key aspect of the millennial psyche is that millennials are more susceptible to be influenced by blogs than any other generation. According to Hubspot, a marketing blog site, Millennials are 247% more likely to be influenced by blogs or social networking sites. This aspect was effectively seized upon by Acorns. They hired bloggers and social media influencers to disseminate their product to the target audience. Millennials are concerned about enhancing their network. Furthermore, cultivating a superior image among their peers is what millennials live for. Acorns, to strike the nerve of millennials, offers gift cards starting from $25. These gift cards let people know that someone, who sent them, actually care for them.

Conclusion

Millennials grew up witnessing a digital revolution. Observing the technology around them grow and shift compelled them to embrace it wholeheartedly. Brands seized upon this particular factor and proliferate across the digital space with effective brand marketing.

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