Companies today are incessantly competing with one another to capture and maintain the attention of Millennials. According to Forbes, millennials represent about a fourth of the entire U.S. population. Millennials are chided for killing industries like real estate or cable television, but this generation is misunderstood. Millennials have $200 billion in buying power, granting them incredible influence and making them the target market for many companies. Still, companies are having difficulty developing strategies that would attract this trend-setting generation.
WHO ARE MILLENNIALS?
They’re born between the years 1981 and 1996 and can be anywhere from ages 23-38 today. Millennials grew up during the age of the internet and booming technology where they could get answers to any question in the blink of an eye and at the tip of their fingers. This has caused a change in the way products are being marketed today, because millennials are unresponsive to traditional marketing techniques that previous generations, like Baby Boomers and Gen X-ers, gave into.
How do you reach them? Here’s what to keep in mind when creating an effective marketing strategy for Millennials:
1) MILLENNIAL SHOPPERS LOVE TO COLLABORATE
According to Hubspot, millennials want to be more involved with how products get created. Being open to their feedback and offering a platform for their self-expression creates transparency and fosters authenticity, which is something that cannot be bought or faked.
Partnering with influencers or organizations not only shows your willingness to collaborate, but also allows your company to reach their audiences as well. User-generated content that followers or buyers create about your products can be shared and can also build trust with current and prospective customers.
2) SUPPORT A CAUSE
Millennials have an expectation of companies to give back to society. 75% of millennials believe that it’s fairly or very important that a company gives back instead of just making a profit. Aligning with a cause, organization, or nonprofit that relates to your company’s mission can bring success to your brand.
3) INVEST IN YOUR SOCIAL MEDIA MARKETING STRATEGY
33% of millennials identify social media as one of their preferred channels for communicating with businesses. Since they’re unresponsive to traditional marketing techniques, inbound marketing can help companies reach and convert millennials. They want to engage with authentic messages that give them the opportunity to learn more about a company and what they stand for.
Additionally, content marketing is another way to develop connections with millennial shoppers. Publishing thoughtful, quality content on your platforms can educate your audience. Since this generation is driven by content, they’re more likely to share, forward, and comment on posts like blogs, how-tos, or images. However, engaging and interacting with customers after posting content is just as important, too!
4) DON’T FORGET TO BE MOBILE-FRIENDLY
When millennials access information on websites through their mobile devices, they trust that the information from the desktop version is the same. It is important to have your company’s information accessible on mobile devices. Creating a better user experience with faster loading time and responsive mobile sites can help bring conversions. Making sure your website design is easy to read and navigate from any device is also key.
TAKEAWAYS
Marketing to millennials means keeping up with current trends and creating content that is personalized and authentic. Although they get a lot of criticism from older generations, they have huge buying power and are making buying decisions. Taking all these characteristics into account can help your brand reach this demographic effectively.
If you want to learn more about implementing a marketing strategy for millennials, our team of digital marketing professionals can help. Contact us today!