They’ve been referred to as millennials, Generation Y, or eighties babies. Whatever you choose to call them one fact still hold true: the demographic of people born from the early 1980’s the late 1990’s to currently represent 28.5 percent of the population. The 28.5 percentage means that they are the single largest group accounted for today.
This demographic is filled with up and coming, young, business minded people. While this generation has the utmost potential, it takes very different marketing tactics to get their attention. This is due to the fact they have constantly been surrounded by the technology and the digital age. As always though, getting to know your key (or new) demographic is very important.
For this group, Generation Y, a few things are very important. Most notably, as with all real estate, is location. This generation isn’t one to live in the suburbs, nor do they want to start or work at a company that is. For them, highlighting properties that are near T stations, bus routes, or on streets with bike lanes is key. This generation is far less apt to commute by car, especially seeing as they gravitate toward cities.
Another key point when working in commercial real estate with this generation is remembering who they are. While yes, they may have just creating an amazing product that gained them monetary success, they’re often still big kids at heart. Seeing that this generation mostly falls in their 20’s, remembering that they’ll like to work and play is helpful. Can you can put a ping pong table in the breakroom and still have room for a lunch area and espresso machine with that listing? Yes? Then show them that office space over the one that comes with free cubicle dividers. While this generation’s up and coming work hard, they also like to take time to relax, or brain storm over ping-pong, foosball, or a latte.
This generation grew up in the digital age. That being said, they’re constantly connected in some way. Most commonly is their smartphone. Utilizing social media is the best way to get the attention of these up and comers, and optimizing your site for mobile – whether it’s being viewed on an iPhone or tablet – could also be helpful. While having a strong digital presence is useful, don’t let tried-and-true marketing tactics fall by the wayside. Build on what you already know how to do well, and what’s worked in year’s past. Then you can keep current clients, while breaking into the niche clientele of the start-up savvy.