If you're wondering why bother with Millennials, you've got a lot of catching up to do: their power is in the numbers, and you need to get up to speed on marketing strategies to engage this powerful generation. Indeed, Bloomberg estimated that by 2019, 31.5 percent of the world’s population was made up of this generation, and they would remain the largest group in the world’s top four economies - the US, China, Japan and Germany. In addition, they now make up nearly half of the workforce in the US, so their purchasing power is increasing, bringing them into their early consumer years.
As millennials represent the largest portion of consumer buying power, retailers must be prepared to meet new expectations and adapt their offerings to the needs of this segment. Before allocating significant resources to engaging this generation, it's important to understand how to get Millennials hooked on your brand. With different buying habits and exposure to technology than any other generation before them, this demographic certainly has high expectations of businesses and, perhaps more importantly, will demand personalized interactions to engage with your brand.
One aspect that millennials are sensitive to is the quality of the work environment. There, it should be made clear that support and collaboration are part of the company’s values.
As a brand, you need to take the time to understand how your values align with the life stages of millennials and leverage that to reach them more easily.
The value of a tactile experience should not be underestimated. Because millennials have grown up in the digital age, they are drawn to analog, which is like a breath of fresh air to them. So reinventing something more classic can definitely help them stand out.
Adopt various marketing strategies to engage millennials with your brand.
First, create quality content on your website and social networks, both editorial and visual. Use in-house or external experts and look back to see if you're on the right track; are you using the right tone, the right type of visuals and delivering the right message. Then, show through your publications how you do things, what challenges you face, etc. Millennials are receptive to real life, they don't really believe in all the "beauty" they see on social media. They will relate to your company more easily if you are transparent.
Millennials are impatient and in a hurry. If they contact you to find out your business hours, for example, it's because they're planning their day. They are not planning their day next weekend. Respond promptly or they will move on.
Opt for video, whether it’s pre-recorded or live, videos are now available on all platforms - Facebook, Instagram, Youtube, LinkedIn, Snapchat, etc. Millennials consume videos much more than other types of publications. Why? Maybe because they like to hear an intonation in the speaker's voice and see facial expressions, it's their human side.
At its core, some of their consumer traits include valuing authenticity, looking for a good deal, seeking non-conformity, seeking instant gratification, seeking experiences and being highly visual. Fortunately, to understand this generation in-depth and discover the right way to get them to do business with you, we have the perfect content. Watch our on-demand Q&A webinar with millennial marketing aficionados William Giroux, Co-Founder and Chief Marketing Officer of KaseMe, and Amani Sharma, Chief Marketing Officer of Mediaclip, as they reveal the best marketing strategies for reaching and engaging them in this rapidly changing digital world.