Millennials — and people with a millennial mindset — are fueling the growth of travel startups and other young companies that target them.
Marketing to millennials, defined as being born approximately between 1981 and 1996, is often more cost-effective than targeting baby boomers and members of Generation X — even though the older groups typically have more disposable income. The cost of reaching older audiences is higher because there’s more competition, as established travel companies pour money into attracting those groups through buying ads on Google or TV.
A look at travel startups such as AvantStay, Explora Project, Luxury Travel Hackers, SnapTravel, TripScout, and Turo shows that startups can achieve growth by appealing instead to millennials. The trick is to offer distinctive features and functionality appealing to their changing preferences and needs and then growing through word of mouth on social media.
“We don’t fight for keywords to rank first for searches…