Understanding Millennials: A Bigger Insurance Market than You Thought

By Stan Ivankovic

Toronto, ON (May 9, 2014) – “Understand your market” and “know your customer” are two key tenets that support business success. Do you know how significant millennials for example are in our marketplace today? As a significant segment of our population, there are many subgroups with dramatically different characteristics within that segment. A paper by Stan Ivankovic, Environics Analytics, can help.

Knowing and understanding your market has long been important, but the advent of a myriad of digital technologies is raising the bar significantly. From magnetic strips on credit and debit cards to website sophistication, from smart phones and apps to social media, from telematics and UBI to broader connected devices the amount of data that is being captured is growing exponentially. That data can help to better understand people.

Understanding the nature of groups of people – their common characteristics and habits – opens the door to improvements in product, marketing and ongoing service. “Understanding Millennials,” a paper by Stan Ivankovic, Sales Consultant in the finance, insurance, travel and telecommunications practice at Environics Analytics, offers an analysis of the Canadian Millennial population. The focus is on understanding them; the opportunity is to leverage that understanding in your programs.

The use of analytics against slices of this data combined with the growing sophistication of marketing and marketing automation is raising the competitive bar. It is ever more important to understand and communicate effectively with your customers, and prospects. Stan’s paper can give you a new understanding, or if you are well down this road, a refresher.

Read “Understanding Millennials.”

About Environics Analytics

Environics Analytics is the premier marketing services and data analytics company in Canada. Specializing in segmentation, site modeling and custom analytics, the Toronto-based company provides data-driven market insights to help its clients grow their business. Its team of veteran modelers and geographic experts are industry leaders in sales forecasting, developing demographic and spending projections, and site location modeling. And it’s a member of the Environics group of companies that offer research, communications and digital services. To learn more about Environics Analytics, please visit www.environicsanalytics.ca.

Source: Environics Analytics