Millennials constitute a significant portion of the market today. In the US alone, demographic statistics indicate the presence of approximately 80 million millennials; that’s nearly a quarter of the total population. Also, millennials are the most lucrative market with an annual buying power of up to $200 billion. As such, every marketer today is making millennials their top priority-or at least trying to figure out what drives and delights this generation.
Below we look at some excellent tips for marketing to millennials
Millennials are technologically savvy and are comfortable with every facet of technology, particularly social media. If you want to target millennials, do extensive marketing in places they often hang out. Many millennials have social media accounts on different platforms such as Facebook, Twitter, LinkedIn, and many more.
Market Your Brand Using Influencers
Unlike baby boomers or Generation Xers, millennials always like to be associated with public celebrities for status and bragging rights. Millennials wear brands, and always associated with what they wear or use. And if they love a particular brand, they are going to shout about it making your brand go viral overnight. A marketer can capitalize on this by incorporating a popular celebrity who is relevant to your niche for marketing purposes. For example, if you’re a sports brand, why not let a celebrity basketball star be your brand ambassador. Even those who can’t afford high status celebrity endorsement can still use less famous but still influential members of their industry be ambassadors for their brand. In some instances, it can take as little as some free perks or merchandise.
Capitalize on Inbound Marketing and Referral
Unlike other generations, millennials are known to be budget conscious and skeptical consumers. These are traits that can make marketing extremely hard, especially for those who use outbound marketing strategies. Millennials are more inclined towards what their peers say about a product or service, and not what the marketers say. They are three times likely to purchase a product because their peers suggested, referred or bought a product.
Provide Digital Convenience
Millennials are used to having information at their fingertips. They do not have the time to make calls or send letters for clarification. As a marketer you can provide the generation with the convenience of information to your brand by incorporating features like;
- Online payment methods
- Providing communication to your brand online
- Providing brand information online
Keep these tips in mind and you can successfully keep in touch with your millennial audiences.