Marketing To Millennials Now and into the future
Millennials are likely the most talked about, written about generation in history. They’ve especially caught the attention of those looking to cash in on the buying power of this generation. Marketing to millennials has become more difficult than ever. Let’s dive in.
This demographic of the population, between 18-34 years of age, makes up the biggest part of the workforce. Those, approximately 80 million, millennials spend upwards of $200 billion per year. With those statistics, it’s easy to see why businesses are vying for the attention of this unique demographic. Millennials are the most diverse population in history, making it tough to determine just how to market to them. Despite their many differences, there are a few key ways to attract our most coveted sales demographic.
Authenticity
Be yourself! Yes, your mother was right on this one. Know who you are as a company, and get that message out to the people you most want to reach. A key ingredient to keeping your content from being ignored it to be authentic. This generation is not easily swayed when it comes to spending their hard-earned dollars. It’s not enough to advertise a sleek sports car zipping along a coastal highway or a leggy model carrying the latest designer handbag. Those images are powerful, but are they real? Be true to your brand. Ask yourself what you stand for as a company, and do your best to convey that message through content and advertising. If your company believes in giving back, let your customers know about the work you’re doing in a local shelter or school. If you want to be known as the brand that cares about your consumers, then give them a product they can trust.
Substance
Most buyers do not like an overly pushy sales tactic, but millennials are especially turned off by this approach. This consumer base is looking for a personal approach to buying. They want to connect with the brands, and once they do, they tend to be loyal to those brands. Advertising deemed too consumeristic or company-focused will fall flat with millennials. A whopping 84% of millennial buyers reported that they often do no trust advertising. We’ve all been exposed to the sales pitches of “buy now” or “don’t wait, inventory won’t last” or our all-time favorite, “this rate is only available for a limited time.” While marketing to millennials with these tactics can serve a useful purpose, you don’t want them to become a part of your regular interaction with customers. Millennials often seek experiences over luxury items. Give your audience something tangible. It can be something as simple as a picture or inspirational quote, or a campaign aimed at evoking emotion and action.
Engagement
No, we’re not talking about finding that perfect someone to spend the rest of your life with, but it is important to build a relationship with your customers. If you focus more on getting to know what your customers want, then you are providing them with products they are more likely to purchase. Step into your customers’ shoes, so to speak. See what options they have available and anticipate what they need. Build a sense of community by giving them useful and shareable resources. Millennials are extremely diverse in their daily interactions. They have work friends, school friends, family and a host of other interactions through social media. If there is value in your content, it increases the likelihood of it being shared within those circles. Millennials value education and information and do their research when it comes to buying. Even something as simple as a how-to video or a blog gives you the ability to reach out to your customers with content that is useful and share-worthy. When all else fails, ask! Get feedback from your consumer base on what products and services they want.
The millennial generation can’t be summed up in a simple blog, tweet or post. Marketing to millennials is complex. They are as complex as they are unique in their approach to how they interact with brands. Their awareness of the world around them, due to a constant stream of information, often means they are not as easily swayed by marketing tactics used on previous generations. And that’s what we want from our audience. If a consumer knows what they want, then partnering with your customers to learn their likes and dislikes is exactly the recipe for a successful business, now and well into the future.
