How to Market to Millennials
That’s the million dollar questions asked by marketers and entrepreneurs alike. How do I market to millennials? The common answer you probably already know: be present on social media. But what’s the real secret to marketing to millennials? Well, there are a few.
Millennials Should be Broken Up into Segments
It seems like there are a broad range of millennials, from hipsters with man-buns, to single, successful moms, to traditional, family-oriented people, and everything in between. It’s unlikely that you can market to all of them because of the diversity. Instead, break millennials up into segments. What social class of millennial are you targeting? What is your ideal segment following on Pinterest? Specifying your audience becomes much more specific when you’re talking about targeting millennials.
They Trust User-Generated Content
There’s no doubt about it. Millennials trust the opinions of their peers when making purchase decisions more than advertisements they see. 93% of this demographic rely on consumer reviews before buying. The days of the hard sell are gone (for millennials at least). Shoving a product down their throat isn’t going to result in a sale. They are doing their research, primarily online, and making judgments based on others real experiences. Authenticity is value to this particular consumer.
Millennials don’t just want to read content though, they love to produce and share content. Enter social media. These platforms have made it easy for millennials to share their experiences, good and bad, to the rest of the social world!
They Know What They Want
Most millennials have done plenty of their own research before going out to make a purchase. Many know what they want, and marketers/sellers shouldn’t push a deviation from that very hard. For the most part, millennials don’t need a sales pitch, they’re sold before they’ve purchased. Trying to convince them of what they want when they already know is how you’re going to lose business with this demographic.
A millennial myself, I had the unfortunate task of going car shopping this last weekend. Car salesmen are their own worst enemies when selling to millennials! I knew what car I wanted, they didn’t have it, and they tried relentlessly to persuade me to purchase any other vehicle on their lot. My conclusion? To never, EVER go to that dealership again.
Millennials Are Always Moving… Thus the Birth of Omni-Channel
Welcome to the age of the smartphone! Millennials are accessing your website from all over the world, not just the comfort of their own home or from a library computer. Because millennials keep technology at their fingertips, retailers are expected to keep up. Thus the birth of the omni-channel experience.
The omni-channel experience means that whether the customer is in the store, shopping from a desktop, or visiting from a mobile device, the integration will be seamless. Mobile-optimization is key. Take online banking for example. As part of the omni-channel experience, consumers can pay bills, apply for loans, check rates, chat with customer service, etc. online or in the bank. Millennials not only want this experience, they expect it.
Loyalty is Nearly Impossible to Earn… But Once You Have It, It’s Hard to Get Rid of
Millennials are going to look for the best product, regardless of the brand name (though that may factor into exactly what they are researching). But ultimately, they are going to buy what is most recommended by their peers. Brand loyalty is hard to come by for this demographic because they want the best of the best. However, once loyalty is created, it sticks. Think the never-ending battle of iPhone vs. Android. Millennials that have chosen their brand are probably going to stay with it.
It’s not as difficult to market to millennials as you think! Really, most of it is done through word-of-mouth. The best you can do is create a great product, encourage consumers to share their opinions, make the experience online or offline seamless, and try to keep up.