Millennials are projected to become the generation with the most purchasing power in 2018 according to the Ascend Agency, so any successful business will need to start marketing to them if they haven’t done so already. However, traditional marketing methods have little impact when marketing to millennials. The five tips below will help you appeal more effectively to this vital demographic.
1. Avoid Traditional Advertising
Advertising has been defined for years by print ads in newspapers and magazines, TV and radio spots, and other marketing materials. However, an Expand Online poll conducted in 2017 revealed that millennials watch 40 percent less television, listen to 60 percent less radio, and read 67 percent fewer magazines than older generations. Relying on these platforms is a very poor method of reaching out to them.
The same study revealed that millennials use social media platforms as much as 100 percent more often than older generations. Another study conducted by Wired in 2016 concluded that millennials average 25 hours per week online. Focusing your marketing dollars on these two areas is a great way to kick-start your millennial marketing campaign.
2. Embrace Social Media
Millennials have an almost supernatural ability to detect marketing speak and ignore it, so your ads will not get anywhere if they sound like ads. Millennials place a very high value on personal product recommendations, making organic word-of-mouth an excellent way to appeal to them.
You can encourage the conversation by offering products and services that translate very well to social media. According to SDL, a whopping five-out-of-six millennial connect with their favorite brands on social media. Platforms such as Snapchat and Instagram are perfect for allowing millennials to post a picture of what you provide and bring it to the attention of all their friends. Facebook and Twitter also allow instant engagement with your company’s representatives, providing the immediate gratification most millennials crave.
3. Try Influencer Marketing
Influencer marketing is comparable to a paid endorsement except that the blogger, Youtuber, or other internet celebrity you bring on board works their message into what they already do instead of producing a promotional message. Millennials trust the influencers they care about, making this technique comparable to a word-of-mouth endorsement from a friend. Just make sure that your partner(s) fit the message you are trying to get across.
4. Attach A Cause To Your Brand
Millennials want the companies they patronize to share their values and beliefs, making the why they should buy your product just as important as its features and benefits. For instance, Goldman Sachs projects the organic foodstuffs industry to explode to $1.1 trillion in annual revenue by 2019 due in part to millennial emphasizing of nutrition and the environment over more convenient, but less healthy, food options.
5. Provide Value
Finally, millennials care much more about the value they get from your product or service than the convenience it offers. This makes discounts, special coupons, and membership programs highly effective means of appealing to their sensibilities. Distributing these savings through a promo code provided to an influencer or on your company’s social media profile is a great way to tie this in with the tips above.
Millennials are the future of marketing, and you can target them in the present using the tips above.