How to attract Millennials
Millennials. ‘Generation Y’. Love the phrase or hate it, there’s no denying that these young influencers are forcing marketers to think outside the traditional marketing box. But just because something’s difficult, doesn’t mean you should give up. Particularly when the ROI stakes are high. Here are some reasons why you should be targeting the younger generation of consumers…
They’ve got enormous spending power: By 2020, Millennials are predicted to be spending 30% of all retail transactions, and they’ll become 50% of the workforce. So their spending budgets will be bigger.
They’re wary of brands: They’ll do their research about you before committing and buying, so don’t try to fool them. These savvy consumers hold a LOT of social influence, and reviews mean everything. Don’t make bold claims if the customer experience doesn’t match up. They will find out.
They’re digitally-savvy: Get your digital marketing right, and you could be delivering highly-targeted marketing to the mobile-fluent Millennial. Optimised for the highest chance of conversion.
On paper, these online individuals should be every brand’s dream target audience. But getting their attention isn’t that easy.
The key? Market with them, not to them.
We’re sharing some tips on how to market to Millennials below:
- Appeal to their adventurous side
Build a solid “event strategy” and you’ll appeal to the Millennial’s hunger for spontaneous, unique experiences – and the desire to look good in front of their peers. Branded VIP parties, exclusive sneak peeks and selective, influencer-only events make the Millennial feel like the trendsetter they’ve always wanted to be.
Taco Bell used this strategy for the launch of its breakfast menu, offering prepaid burner phones to an exclusive group of 1,000 influencers across the country. Those influencers were given a direct line to Taco Bell headquarters, and received secret missions to accomplish via Instagram and Twitter. The chance to be one in 1,000 and participate in something innovative and fun resulted in over 16,000 tweets about the campaign in just 10 days.
- Get customised and get personalised
“While Millennials are demonstrating brand loyalty these days, they also require a sense of being ‘looked after’ if they are to remain that way”. (Digital Marketing Magazine)
You’ve got them to make a purchase, so they’re going to buy from you again, right? Unfortunately, the consumer funnel reboot isn’t as easy as that. You’re going to have to work just as hard, if not harder, to encourage users to buy from you again when they’ve got so much online choice available at their fingertips. An initial excellent customer experience helps, but a personalized offer to show them you value them as an individual consumer helps even more.
From Amazon’s personalised recommendations, to Spotify’s “Discover Weekly”, and Coco Cola’s personalised bottle hype, brands are pulling out all the stops to prove to consumers that they get them on an individual level. They know their time is precious, so they’re only going to show them products they think they’ll really be interested in.
- Make them want to share
Millennials are big social sharers, and they’re frequently sharing experiences with their friends and followers in real-time. Snapchat, Instagram or WhatsApp, Millennials are constant content creators. And you need to be making sure they’re only having positive experiences with your brand to increase the chances of a mention. Go above-and-beyond with the whole customer journey to bask in the praise.
You’ll also find Millennials sharing entertaining content. From Carpool Karaoke to Pen-Pineapple-Apple-Pen and Channing Tatum’s Lip Sync battle, Millennials want to be seen as sharers of entertaining content amongst their followers. Keep that goal in mind when developing marketing campaigns.
- They’re the expert
84% of Millennials report that user-generated content has at least some influence on what they buy. YouTubers, bloggers and close friends – Millennials are after the first-hand experiences of their shopping peers.
Brands need to be creating their own groups of Millennial experts and ambassadors, ready for their peers to turn to when they get to the purchasing stage of the funnel. Find the right influencers for your brand and target audience, then share exclusive information and product sneak peeks. Your brand ambassadors will feel empowered and validated as the “go-to” for their peers. And your Millennial consumers will be more likely to try your products after reading all those powerful peer recommendations.
Feeling more prepared to take-on the new Millennial market?