Millennial Marketing: How To Finally Attract Millennial Customers
No other generation has been under more scrutiny than Millenials. Born between 1981 and 1996, they are an essential business demographic because of two main reasons:
First, the youngest Millennial range is now turning 22 and entering the workforce while the oldest millennials are approaching 40 and peaking their disposable income. Secondly, they are the generation with the most significant social influence, which gives them the power to define what’s trendy and what’s outdated.
Businesses need to learn how to effectively market to Millennials, but they are failing: 84% of them do not trust traditional advertising. Here, we will discuss three different ways to finally attract Millennial customers to your business.
Inbound vs. Outbound Marketing
Outbound marketing comes across as intrusive and pushy. TV commercials, radio spots, newspapers banners, and digital ads do not connect with Millenials. Instead, you should be focusing on creating authentic, personable content that is customer-centric and relevant to them.
When creating content, however, it is necessary to also understand where Millennials want to see it. They spend an average of 5.4 hours/day on social media, making it the best place to reach Millennials.
Another element to consider is the context and positioning of each platform. Younger Millennials are more likely to use Snapchat, Instagram and Twitter, while older ones prefer LinkedIn and Facebook.
The Power of Word of Mouth
Millennials have shown a strong emphasis on word of mouth, and the rise of influencer marketing has been the most immediate consequence. However, if you want to incorporate this strategy into your marketing mix, there is no need to have a large budget to partner with a celebrity.
In fact, micro influencers (under 10,000 followers) have higher engagement rates and 90% charge less than $250 per post. Despite their lack of trust towards businesses, 82% of Millennials have a higher likelihood of acting upon the recommendations from micro influencers.
But if you really want to organically attract Millennials to your business, consider every single one of them an influencer. They think of their peers as trusting sources with valuable insight, and 77% of them recommend a product or a company every month.
Co-creating And Collaborating
Reaching Millennials can be done through involving them in the creative process. User-generated content, for example, is 50% more trusted than any other type of content. It allows your prospects to leverage the social proof and feel they’re part of a community or a group.
There are different ways you can apply this approach to your business. Making current consumers part of your case studies –even better if they’re taped videos– and promoting them through your social media channels will prove to engage future prospects. Also, allowing them to create a marketing campaign for you is in itself a great strategy to connect with Millennials and empowering them while receiving great insights.
In conclusion, Millennials are not that different from other generations, but they need to receive value through content, word of mouth, and co-creation before trusting outside brands.
Marti writes about digital marketing and entrepreneurship. Find him with coffee and a laptop while traveling back and forth between Barcelona and Charlotte. Connect with him on LinkedIn.