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Which Generation Trusts Marketers More with Personal Info?

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Millennials share more personal data than Boomers do.

Millennials share more personal
data than Boomers do.

Between the Baby Boomers and Millennials, which generation do you think trusts marketers more with their personal data? Remember, the Target store data breach isn’t far behind us and many people are becoming more protective of our personal information.

If you chose Millennials, you’d be correct. This year, Millennials are between the ages of 20 and 37 and account for about one quarter of the US population or 78.3 million individuals. According to new Mintel research, “Millennials are much more prone to oversharing relative to their Baby Boomer parents.”

60% of Millennials would be willing to provide details about their personal preferences and habits to marketers, whereas Baby Boomers are much more protective of their personal information. Find out which info they’re willing to share… 

What Millennials are Willing to Share

  • Millennials are about twice as likely as Baby Boomers to share cell phone numbers (30% vs. 14%).
  • The younger group is almost 3 times as likely to share social media profiles (27% vs. 10%).
  • They’re about twice as likely to share credit scores (17% vs. 8%), considered the most private information.

Of the Millennials who said they wouldn’t share their data, get this… you can buy them off! Yes, 30% said if you offered them an incentive (like a dollar amount discount) they would agree. Only 13% of Boomers could be influenced by the same incentives.

Millennials are predisposed to share their personal habits and contact information with marketers, but they do so only when the perceived benefits outweigh the risks. Given that their generation accounts for nearly a quarter of the population, the implications for businesses are tremendous, because as Millennials go, so goes the US economy.”
Fiona O’Donnell, Mintel category manager, retail, multicultural, lifestyles and leisure.

Other important findings:

  • 42% of Millennials say that buying something that makes them feel good about themselves is very important- higher than any other generation. Millennial dads score even higher at 52%.
  •  Millennials are 64% more likely than the average adult to simultaneously multi-screen.
  • Three in 10 Millennials would rather give up broadcast television rather than give up their mobile phone, compared to just 7% of Boomers.

Suggestions for Marketers

O’Donnell has this advice for marketers:

  • Millennials may be more apt to share, or even overshare, relative to other age groups, but they are also the most diverse generation, so marketers must know how to take this information and tailor campaigns that will be engaging and meaningful.
  • Millennials are content creators and well-known for their desire to be involved. In order to overcome the fragmentation of channels and attention, marketers and program creators need to engage their customers.
  • Because this age group is experiencing major life-influencing events, they are particularly attractive to businesses. The key to mining that precious data isn’t in the raw data itself, but crafting it into a tailored, meaningful and engaging message for the Millennial consumer.

Oh, and one more tidbit:

Guess what Boomers will share slightly more then Millennials? Their mailing addresses! (40% to 38%)

Does this information affect your marketing strategy? How?

Mintel-Willingness-Share-Info-with-Marketers-Mar2014

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