The millennial market can pose a challenge to businesses that seek to win them over. Millennials have their peculiar traits, and businesses must learn to understand them. This article discusses five(5) marketing strategies to win over millennials.
Business customers have distinct needs. Millennials for one, are outspoken, opinionated, inquisitive, hypersensitive to an advertisement and are completely tech-savvy. These features are a few reasons you need more than a basic marketing plan.
More than that, Millennials are reportedly the biggest of all spenders. It is estimated that they are likely to exceed $1.4 trillion in purchasing power by the end of 2020. This is a good reason you need to know the right moment and the right marketing plan to implement.
However, first, who are these millennials we have been talking about?
Millennials are regarded as generation Y, born within 1981 – 1996. Millennials are people aged 23 – 40. This set of individuals covers more than half the world population. You need to win them over if you want your business to continue to grow and survive.
Thus, we have put together 5 marketing strategies you should implement to win over millennials.
- Be where they are
Millennials go with the wind. They take cognizance of new ventures as they come. For instance, Facebook was the ‘in thing’ then; now it is Instagram. The fact that 64% of Instagram users are aged 18-29 is all you need to know.
Millennials are always on the go. They are very responsive to change and in most instances, have initiated them. You have to be where they are.
What to do
- Keep up with new trends.
- Seek out new opportunities and new ways of doing things before it comes up or they find out themselves.
- Use social media platforms. Where they are, be there. Make use of Instagram. More than 800 million people log into Instagram daily. 300 million of those view their stories. 64% of those are millennials.
- Also, keep an eye on any new social media platform that crops up. Millennials have a thing for social media.
2. Stand out by being creative and provide value
Another thing to think about is standing out. However, you can do more. Millennials want content that is not only unique and creative but also authentic. More than that, they want it to play a significant part in their lives.
They want to spend their effort, time, money, and attention, on something that is worth it.
This generation of people uses ad-blockers on their browsers. They pick up their phones when a commercial is playing on TV. They tune to another channel as soon as a television program ends before the commercial starts to play. It is hard to grab their attention, and that is exactly why you need to stand out by being creative and provide value.
What to do
- Give discounts and design loyalty programs.
- Don’t tell them what your product does not do. Instead, show them the problems your product or service solves.
- Treat them right.
- Reveal your ethical practices to them.
- Communicate authentic content.
- Build a meaningful relationship with them that goes beyond selling to them.
3. Focus more on video
Using videos to promote your products and services provide a clear visual image of what you are selling.
Videos increase engagement in Millennials. It builds brand trust and credibility. Video marketing and mobile work well together. Research has shown that about 90% of consumers watch videos on their mobile devices.
With videos, you can demonstrate how your product is used and the benefits. Videos boost conversion and sales.
With YouTube and Instagram stories on the rise, you have many platforms to reach the millennial market.
What to do
- Place your video ads on all social media platforms.
- On your Instagram page, make use of Instagram stories.
- Use videos on your landing page and website.
4. Ensure you stay mobile
Millennials can’t live without their smartphones. Their lives revolve around their mobile devices, so make sure all your marketing campaigns for millennials are centered on mobile.
What to do
- Is your website mobile-friendly? Your website should be designed to be mobile responsive. This means your site should load quickly and have a mobile-friendly design and call-to-action.
- Do you use landing pages to drive conversion? Those landing pages should be optimized for mobile.
- Are you running marketing campaigns targeting millennials? If yes, then you can easily reach them on their mobile devices – phones and tablets.
- Start thinking about exciting ways you can use mobile to get the attention of millennials. That should be easy they are always on their smartphones anyway.
5. Sell a story, not just a product
Your product has to have an emotional appeal. It shouldn’t just be about its physical features and physical benefits. Your product should serve them on an emotional level as well.
A survey carried out by Accenture, reports that millennials need an emotional attachment to a brand. Your brand must resonate with your target for this to happen.
What to do
- Sell the story behind your brand. How did it come to be? Why? To what extent did you go to achieve your goals? Communicate it in such a way that it resonates with your target market.
- Find a way for your brand to be part of their everyday conversation. Find out what they are saying and how your brand will give them more to say.
- Showcase a belief that they agree with. Demonstrate your product around this belief.
- Millennials are considered do-gooders. Make sure you are socially responsible. This will make them feel inclined to listen to you.
The key is to understand what matters to millennials and what influences their behavior and values. Businesses, whose target audience is millennials, need to be able to make an impression on them and connect with them in meaningful ways.
With these strategies listed above, businesses can start to build a strong customer base among millennials.
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