How to Successfully Market Your Business to Millennials
Millennials are the demographic that you'd want to charm and buy your product. Being the largest living generation, they wield the largest share of purchasing power. An annual buying power of $200 billion in the US economy alone is enough reason to turn your attention to these young consumers. It's time for you to learn more about this demographic's behavior, desires, and mentality. It's tricky and most challenging to reach; however, there are ways to grab their attention and turn them into customers.
Below we've put together a quick guide that Sam Ovens have shared how to market your business to Millennials successfully.
Make your brand mobile and social media network friendly
Millennials prefer to shop online using their smartphones or laptops rather than going to malls or stores. According to one website, social media is a significant influence on product discovery and purchasing decisions for the age group from 18 and 38. It is not surprising as most of these young consumers are technology savvy and find it more convenient to buy online. They spend most of their day scrolling to their Facebook or Twitter feed. That is why also a lot of businesses are shifting from a traditional store to an online store.
Here are some of our recommended social media strategies to reach millennials:
Establish a social media presence
Create engaging and authentic contents
Be proactive in social media
Utilize social media ads
Offer convenience with social commerce
Make use of memes and other trending activities
Be open to collaboration for product development
Offer free items or coupons
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Make a stand
Research by Kantar Consulting shows 61 percent of millennials switch to brands that are engaged in corporate social responsibility and supports a cause. According to Linkfluence, these are the social issues that most of these consumers cared about:
By doing this, you can establish a relationship with your customers and turning them into a customer.
Stay away from using traditional marketing methods
Traditional marketing methods are no longer effective in this era. They don't trust methods such as radio or magazine ads, pop-ups, and cold calling, and would check the reviews for authenticity. The technique is to show your products naturally instead of making it feel like an advertisement and reach out to trusted influencers or bloggers. Resist the temptation to go back to traditional methods and create a more natural connection with your target market audience.
Don't rely on brand loyalty
Millennials are not typically loyal to one brand only. They value more the convenience and usefulness of your product to their daily life. So you need to be updated with their needs and give them reasons why they still need your products.
Marketing your product is not an easy task, however, as long as you understand and align your marketing strategy based on their needs, values that drive them, lifestyle, and behavior, they will surely give your product a chance.
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