Privileged, narcissistic, entitled, spoiled, job hoppers, are some of the adjectives that you may hear used to describe the millennial generation, those born in 1982 and approximately the 20 years thereafter. Now whether these are true descriptions of the millennial generation remains to be seen. But we do know that millennials surpassed baby boomers as the nation’s largest living generation. Millennials in the US wield about $1.3 trillion in annual buying power, more than any other generation. If your business is failing to charm millennials, then your business is failing. Take a look at how you can reach this trendy, tech-savvy generation and help improve your business.
Think In, Not Out. Millennial consumers are immune to traditional advertisements. Millennials want to feel connected when it comes to their buying decisions, 0utbound marketing methods, like print ads, direct mail campaigns, and television advertisements, do not work with millennials. In the mind of a young consumer, these are cold and unfriendly avenues of interaction, filled with semantics and lacking any real substance. This generation demands more customer-driven, personalized marketing. Inbound marketing techniques will be much more effective in reaching the millennial generation. According to Elite Daily, only 1% of millennials surveyed said that a compelling advertisement would make them trust a brand more.
Be Mobile. When looking at smartphone owners by age, penetration is highest among millennials aged 18-24, 98% of whom own smartphones. Millennials aged 25-34 are right on their heels, with a 97% ownership rate according to Nielsen. If your marketing strategy isn’t targeting the mobile user, then you’re missing out on millennials. Make sure you have a responsive, mobile friendly website. Tailoring your marketing strategy to be in-line with the digital age is important to acquire new customers.
Content is King. Creating awesome, creative content will help lure millennials. Actively creating original content and using white-hat SEO strategies to acquire organic traffic will pay off. Millennials are 44% more likely to trust experts (who happen to be strangers); they are 247% more likely to be influenced by blogs or social networking sites.
Trending Socially. It’s no secret that millennials are constantly on their phone, taking pictures, sharing posts and all other things social. 62% of millennials say that if a brand engages with them on social networks, they are more likely to become a loyal customer. Be active on the proper platforms. Snapchat and Instagram have risen above Facebook as the preferred social network amongst millennials. If your business isn’t active and creative on social media, then chances are you are missing out on a big chunk of business.
Loyal Customers. It may surprise you that millennials are actually very brand loyal customers. More than 60% are often or always loyal to brands that they currently purchase. While it may be difficult to get them as a customer, once you do, your business will see the benefits for years to come.
Customer Service. Customer service is important no matter the age. But millennials understand the value of social media and how to use that to influence buying choices. 70% of millennials feel a responsibility to share feedback with companies after a good or bad experience. Writing a bad review on Facebook or Yelp can go a long ways in the eye of a millennial. Be sure to treat them with high levels of customer service to avoid any negative reviews.
Be Experienced. Millennials are waiting to get married and have kids as well as putting off many other impactful, life-changing decisions in exchange for an experience. Millennials want customized experiences and they are willing to pay a premium for it. Make sure your company is thinking outside the box to make sure you create unique, original buying experiences in order to acquire and retain the millennial customer.
Give. Millennials expect you to give back to the community or be involved in social changing activities. 75% of millennials said that it’s either fairly or very important that a company gives back to society instead of just making a profit. Partnering with a non-profit or getting involved in charitable causes is not only good for the world, but charity is good for business.
This is the first in a five-part series that will highlight each generation and how your business can actively market to each to increase sales.
Get On The 8 delivered straight to do your inbox.
Allevi8 Marketing is a digital marketing agency located on Chicago’s Southside. We create awesome websites and digital experiences for small to medium sized businesses. Providing full branding and creative abilities to our clients, we help your business get more customers. From social media management to SEO to public relations, we will help you grow your business. Contact us today for a free consultation and be where the world is going.