Millennials, born between 1980 and 1994 are the largest living generation today with a population of 92 million. Whilst being brought up around TV and printed advertising they are notoriously known to reject the traditional style of advertising. So, how do we market to them?
Do you want to double your return on your investment? Statistics say that Millennials are twice more likely to buy your product online than the generation before them. This makes them twice as worth to be the majority of your marketing spends.
Before we learn more about marketing to them, we need to understand them. Here are a few things to remember:
Whilst being a generation that is heavily influenced by their peers, they love to collaborate
Unlike any other generation, Millennials turn to their peers on social networks for advice when making decisions or purchases. They love to collaborate with peers or businesses, hence the rise of open and collaborative office spaces.
Millennials have a love for travel
In a survey, 70% of Millennials agreed that “Visiting every continent in my life would be an achievement, and is something I’d like to do.”
Millennials are known to be the generation that has traveled more than any other and shows a huge interest in traveling. Besides being working professionals, they will find time for travel.
Millennials are focused on a healthy lifestyle
Millennials are known to be one of the healthiest generations yet. They are known to eat healthier, exercise more and smoke less than any other generation. This is proven by their online spending habits too, where high heels are now switched for running shoes or a Fossil watch is now a Fitbit!
Millennials love a good discount!
Two-thirds of millennials said that they would rather shop online than in a physical store. They would rather browse the product they are looking for over a few online stores to get the best price. Brand loyalty is quickly forgotten with millennials when there is a discount on a generic brand for the same product.
Know that you understand a millennial a bit more, let’s get back on track. Millennials use Social Media for a few reasons; To connect with loved ones, to interact with brands, to create content and lastly (and most importantly) is to learn. Millennials would rather watch a YouTube video than read a book! Let us tell you 4 tips to remember when marketing to the millennials.
- Forget about traditional advertising and switch over to Social Media
Yes, you heard us. Millennials may push aside a magazine or printed advert, but, they do spend a large amount of time on Social Media. The average millennial will spend a minimum of 2 hours a day on social networks. Therefore, this needs to be your advertising platform. They love learning online, so, if your brand can offer valuable knowledge and necessary information on a product, a millennial would more than likely use that brand. - Cause Marketing
The best way to gain and retain a millennial consumer is to align with a cause. Studies say that 55% of millennials will buy from a brand that is aligned with or supports a cause they care about. Cause marketing is also a hugely effective way to get noticed as well as boost awareness on social platforms. For example: #refusethestraw - Influencer Marketing
If you follow us on Facebook you may remember a post we did about millennials preferring influencers over traditional celebrities. This is a fact! Millennials have proven that they are more willing to purchase a product or service is that is positively reviewed by an influencer. Therefore, an easy effective way for businesses to market to millennials is to create long-term partnerships or band ambassadorships with influencers. - Testimonials & Reviews
Put them on display! Millennials don’t only look at collaborating when it comes to working but when they are trying to make decisions. That is why 40% of millennials turn to customer reviews and blogs on products before making their purchase. If you have a review, share it! If someone buys your product or service – ask them to review it! See how we have displayed our testimonials here.
If you can combine these four points into your business, there is no doubt you will not only create an online following but you will have a loyal following. By keeping up to date with trends, causes, campaigns and who the millennials are “crushing on” your business will boom!
For more articles like this sign up for our newsletter to be notified or to learn more about Millenials and marketing to them, as well as top tips and tricks to doubling your online following – join us in our workshops!
