Some people might poke fun at them but when it comes to marketing to millennials, the joke’s on you. After all, a generation that spans over nearly two decades, has some serious buying power.
It’s plain and simple, millennials make up one of the most lucrative markets. In fact, Gen Y is at the top of the priority list for most marketers. Once you understand what millennials value most, marketing to this demographic is quite easy.
Here at On Q, we’ve put together the top five insights about how brands can step their game up when creating campaigns targeted at Millennials.
Millennials value memorable experiences
“Have stories to tell, not stuff to show”
Millennials enjoy spending their time at live events and being part of an interactive experience. According to recent statistics, 8 in 10 millennials say they are more inclined to become part of a brand if they have face-to-face interaction with it. Sharing these experiences on social media will increase brand awareness and reach a much larger audience.
Millennials will run from sales pitches.
“Sell the problem you solve, not the product you have”
it’s important to remember that millennials don’t trust a marketer’s effort to sell them something. They value trust, which is why they often look for the opinions of their peers, and consult user-generated review websites. In their minds, traditional advertising is often a desperate plea from a company who isn’t concerned about or even aware of their interests, problems or needs. Be down to earth, approachable, and minimize the sales pitch.
Millennials research before purchasing
If a millennial is searching for a new gym to sign up to, they will definitely go online to do their research. Making your website easy to navigate with tons of information right up front will help attract and maintain customers. Build comfort and trust with your visitors as soon as they arrive on your website.
Influencers have an extraordinary impact on the purchasing decisions of Millennials. Millennials relate to the authentic, no frills, up close and personal content that influencers produce. If an influencer recommends a product, it feels less like an advertisement and more like a recommendation from a friend.
Utilize word of mouth
Millennials rely heavily on recommendations from family and friends. A study by Salesforce found that 50 percent of millennials rely on word of mouth recommendations when researching a brand. Although it may seem like word of mouth is often out of the brands control, you can produce positive conversations by designing a business strategy that will give millennials a reason to talk about your brand.
What millennials want more than anything is factual and trustworthy information about the products and services they are interested in, and to feel connected and excited about a company and its offerings.