There are so many misconceptions about the Millennial generation that circle the marketing sphere.
While some of the stereotypes may hold a little truth for most of them, they are unfounded and misconstrued notions.
The key to marketing to millennials is first finding the right tools, having a data-first approach, and an inherent understanding of their unique needs and pain points.
By building the right channel marketing strategy that focuses on millennials, your company can see more conversions.
Millennials, Who are they?
The current age range of millennials is 24-39 years old (as of 2020), which puts there birth years between 1981-1996. Millennials are also recognized as Generation Y or Gen Y for short.
Millennials, Why should we market to them?
With more than a quarter of the population of the U.S classified as millennials (83.1 Million), that's a large target audience to tap.
So the next time you roll your eyes when you think of millennials take second thought that your co-worker in the cube next to you or the teacher teaching your children, your future prospect might be a millennial.
Here are some interesting facts about the millennial generation:
Fact #1 – Largest Generation in the U.S.
With millennials being one of the largest generations in the labor force in the U.S and soon overtake baby boomers, they are a group that you do not want to not pay attention too.
83 Million Millenials as 2019
Largest living generation (1/4 of the population)
Purchasing power is expected to reach in the region of $1.4 Trillion (that's will a T)
Fact #2 – 50% of purchases a done online
Millennials are a generation of smartphones, and they use them a lot. So it's no surprise that they are tech-savvy and likey to make their next purchase online.
USP Found that technology and social media are central to the way millennials shop. User-friendly eCommerce platforms are essential.
Around 54% of all purchases are made online in contrast to other generations.
Because they have grown up in the era of social media and blogging, they are no stranger when it comes to the powers of a digital platform.
They become highly influenced by online reviews
Fact #1 – Brand Loyalty
You will find that millennials tend to align with brands that make social and environmental impacts and help the community. Millennials will stay loyal to a brand when they feel there are benefits.
Forbes found that 60% of millennials will stay loyal to a brand and will repeat purchase if they agree with the brand messaging.
Since millennials use social media platforms, it is hyper essential to engage within them using those platforms. They appreciate brands that engage personally with retweet (RT) or personalized messages.
Advertising
When you look to market to millennials, traditional marketing doesn't cut it if you want to engage with them. You're going to have to be willing to think out of the box here and let your digital marketing evolve as you find ways to capture their attention.
For example, a restaurant might find that the targeted millennials they are reaching out to respond well to Facebook Ads and Instagram postings.
One thing we do know is that millennials respect the value of personal connections, so when a brand shows personal communications within the social networks, they tend to engage more. What this means is that you need to start looking at tailor messages/advertising to be more personal.
Targeted Advertisement
When it comes to advertisements, millennials want them personally geared towards them.
They are also more than likely going to react to an advertisement that speaks to them.
Lexington Law reported that millennials responsive more to online ads that are targeted and relevant.
Within the purchasing decision, 83% find online content useful
Content-Rich Website
Millennials engage better with content than they do with traditional advertising. Meaning they want to read articles that are relevant and click a CTA instead of a pop ad.
Authentic Conversations
Millennials are unique at decoding what's true or what's not when it comes to content, and that's driven by the amount of time they spend online. By going above and beyond to engage through social millennials, you build deeper trust.
Strong Online Presence
When it comes to millennials, it is essential to be on all the digital platforms your audience is going to be engaging with. Millennials are multi-taskers, and they are flipping between platforms.
So your brand presence must stay true and on point. You need to engage your audience and keep them on your page as long as you possibly can.
#1 – Websites
If your website is dated or it doesn't work on a mobile device, then millennials will not trust you as they expect your website to be updated to the latest technology.
#2 – Social Accounts
Having active social media accounts that posting relevant content is key to engaging with millennials if you're looking to build a relationship.
#3 – Reviews/Testimonials
Before purchasing, 40% of millennials will check for reviews/testimonials, so make sure you have an excellent reputation.
Conclusion
Learn to understand how to engage with millennials that you are targeting, keep building on your brand reputation, and make sure you fully understand the devices and platforms they are using.
The spending power of millennials is excellent, so deliver content that resonates with them and shows messages that impactful. Remember, this is just the start of your journey in marketing to millennials.
About the Author
Jon Rivers – Jon has been recognized as a pioneer within the partner channel as a digital marketing expert for his leadership in helping partners develop social brands, marketing strategies, and content to drive successful marketing campaigns.
Before starting Marketing Monarchs, Jon spent many years working in the Microsoft Dynamics ERP ecosystem system. Jon serves on various boards, including Directions North America, IAMCP (International Association of Microsoft Channel Partners), and CMA (Channel Marketing Alliance).
When Jon is not busy running Marketing Monarchs, you can find him Co-Hosting Leadership Goes Beyond one of the fastest-growing virtual conferences for Leadership.