A certain group of consumers has been gaining attention from marketers recently, because of the strong role they play in the purchasing decision; these power purchasers are known as Generation Y. Whether they're part of the target audience to which you sell or not, this group is worth considering as part of your inbound marketing strategy because there's a strong likelihood they either will become part of your target audience in the future, or because they already influence your target audience now.
Also known as Millennials, this group refers to those born between 1977 and 1994, and it accounts for 25% of the US population. That may not seem like a lot (or maybe it does), but Generation Y is estimated to be the largest consumer group in US history. According to MarketingProfs Millennials' annual spending power of over $200 billion will eclipse Baby Boomers' by 2017.
Many marketers think the recommendation of a friend or family member is the ultimate green light for consumers, but it turns out that Gen Y cares about recommendations from strangers more. More than 8 in 10 say user-generated content from people they don't know influences what they buy and indicates brand quality, while 51% say it is actually more important than the opinions of their friends and family, and far more trustworthy than website content. 65% of users aged 18-24 considered information shared on social networks when making a purchasing decision .On top of that, 2/3 of consumers use search engines to help them research and make purchase decisions
Socialnomics reports that if you take a look at the world's largest brands, 25% of their search results return user-generated content from review sites, blogs, and social media updates. Millennials have integrated social media into their day to day lives, making access to the opinions of others easier than ever. With so much knowledge at their hands, you need to ensure information about your business is easy to find, whether from you, their network, or total strangers.
Sometimes marketers are reticent of pursuing user-generated content because it forces them to relinquish control. But remember that Millennials have spent the better part of their lives on the internet and were the first wave of blogging and social media adopters. As such, they are better at parsing through fluff on the web and can distinguish between critical content and that which is an unfounded rant or rave. That means content you publish, content you solicit from others, reviews posted to blogs and review sites, and social media comments all go through a sniff test that's ingrained in how Gen Y consumes information online. If the content being published by you or by others about you, isn’t quality, these folks are good at filtering it out of their purchase decision-making process.