Millennial Marketing | Selling To Millennials: Must-Have Conversion Tactics
Millennial Marketing | Generation Y — the segment of the population born in the 1980s and ’90s — is more or less all grown up now. Young. Impatient. Connected. Casual. Cheeky. Bold. These are only a few of the ways that people, mostly of the older generations, see the typical millennial. They’re graduating from colleges, entering the full-time work force, renting and buying homes, and, maybe most important, spending their disposable income. To sell to any audience, you have to understand it, and this is particularly true for the millennial generation, the latest target group for many companies.
As their purchasing power increases, and the millennials continue to drive consumer demand, it’s crucial to reevaluate this generation, and create strategies for reaching them. Here’s another way to think about them: the biggest generation in the United States today with an annual spending close to $1.5 trillion. Millennials’ spending power and influence offer incredible business opportunities, but as technology and communication have evolved, companies have to adapt to the group’s changing consumption and spending patterns too.
How They Shop | Millennial Marketing
Peer recommendations and positive online reviews from product users and owners strongly influence millennials’ purchases. Getting the stamp of approval of the group makes the sale. Millenials are much more immune to print, television, and radio ads than service buyers of older generations, and they lean toward a self-serve approach. They may ask friends for referrals, as millennials give social sharing high value.
Digital Natives | Millennial Marketing
Approach millennials with a relationship-building attitude, not a sales stance. Engage them in meaningful interactions, whether it is sharing images of products and encouraging feedback, announcing daily specials, or posting interesting news about your industry. A website that looks like it hasn’t been updated since the dawn of the Internet isn’t going to do anything to help you attract tech-savvy millennials. Don’t over-think the web address for your website – simple is almost always better. Keep in mind that, in the mind of millennials, the lack of a social media presence makes your business irrelevant: a dinosaur that doesn’t get the modern way of doing business in the digital age.
Cut the Fluff — Be Real | Millennial Marketing
Millennials, as a whole, aren’t interested in your sales pitch. They don’t want you to ask how they’re doing unless you really want to hear the answer. Realize you’ll be fact-checked almost before you finish your sales pitch. Millennials are skeptical and tech-savvy, they judge political candidates the same way they shop for electronics: they fact-check every claim quickly, using multiple sources. It’s important to remember that millennials don’t readily trust a marketer’s effort to sell them something. They value trust, which is why they often look for the opinions of their peers, and consult user-generated review websites like TripAdvisor and Yelp.
TV? What’s TV? | Millennial Marketing
When you’re planning your marketing budget, skip television. Millennials simply won’t watch commercials unless they’re forced to. To say technology is a significant factor in how this generation communicates would be an understatement. Millennials see technology not just as a device or platform for communication, but as a way to improve life, make wiser choices, and even contribute to society. Make sure you have a strong online presence, and use this as your base camp. If your website’s not ready, don’t start your campaign. Keep in mind that, if the website says something very different from the advertisement, millennials will become suspicious.
Offer Value | Millennial Marketing
Millennials will drop a brand like a hot potato if a better one comes along. They don’t think this behavior is disloyal; they see it as common sense. They don’t care about brands unless you give them a reason to care. Their purchases are very deliberate. By the time they’re ready to make a purchase, they know exactly what they want and know what they’re willing to spend.
Keep It Short And Sweet | Millennial Marketing
In the era of tweets, millennials prefer their info in quick bites. While some have criticized their short attention span, it’s no use fighting it when trying to market your services. Millennials live in a world with only a couple of speeds and they’re all variants of “fast.” They don’t want a long-winded value proposition or a 20-minute PowerPoint presentation. They want you to get to the point.