The Millennial Generation consists of people born from the early ’80s to the early 2000’s, making them the largest generation by population size. Without question, this generation is the most radically different generation since the industrial revolution. With the introduction of the internet and all the social channels that go along with it, the Millennial Generation is one of the most intelligent and most opinionated groups of consumers in decades. Businesses interested in marketing to millennials have to change the way they approach marketing as this group is unique and requires special tactics.
Understanding the Millennial Mindset
Advances made in technology and global awareness have helped shape the Millennial Generation into a group of consumers that are very much aware of the fact that they have product options. These consumers take the time necessary to research a product or service before making a purchase. This means businesses marketing to this segment of society need to know where and how to advertise to these people. Millennials are not an easy group to please as they want more because they feel they deserve more and in most cases, they know how to get more. Globalization has helped this group obtain the products and services they want when they want them.
Making the Marketing Connection with Millennials
Many businesses find connecting with this diverse population difficult because they deem the millennials hard to please. However, marketing to this group is actually rather straightforward. All it takes to engage with millennials is to understand and address their values which are happiness, passion, diversity, sharing and discovery. It also involves making sure this group feels informed and involved and not just marketed to.
When marketing your product or service to millennials, it’s important to show them how your product/service can be a useful tool in their daily lives. One company that understands how to market to this segment of society is Uber – the app that connects passengers with drivers-for-hire. Uber understands that millennials are tech-savvy, interested in efficiency, prefer plastic over cash and are a social group that is willing to share with strangers.
Businesses that successfully market to millennials understand that this generation is hyper-aware of and have high expectations for corporate social responsibility efforts that make the world better for themselves and society. Millennials will quickly switch from one business that does nothing on this front for another that does and successful businesses know this.
Millennials prefer spending their money at businesses that emphasize authenticity and transparency. These consumers appreciate it when a business founder expresses his or her feelings and passion for what they do.
Social Media Marketing Focused On Millennials
Millennials spend a lot of time on social media which means businesses with social media strategies must know how to reach this group of consumers. Instead of self-promoting and focusing posts on products and services, a business should demonstrate that it has a personal side by being honest and writing content in a conversational tone that prompts engagement. Incorporating video into social media posts is essential when marketing to millennials as this generation spends up to 50 percent more time watching quick informative videos than the average internet user. And because millennials will switch brands for a cents-off coupon, it’s important to offer discounts, coupons and rewards to grab this generation’s attention.
Address Their Values
Surveys tell us that nearly 40 percent of millennials prefer spending money on good causes, even if it means they have to pay more for a product or service. Businesses that show they’re socially-aware, environmentally-friendly and charitable are businesses millennials will pay attention to. It’s important for businesses to adopt these behaviors and promote themselves through events and social content.