4 Insights To Demystify Marketing to Millennials
Welcome back, generational marketing junkies! If you missed last week’s post about Marketing to Gen X, you can check it out here. Today, let’s chat about how to market to Millennials because, as you might have noticed, traditional tactics don’t work with this generation.
Who Are Millennials?
Millennials were born between 1981 and 1999. They began to enter the workforce as the economy crashed, and as a result, became the largest generation of entrepreneurs. Millennials now outnumber Baby Boomers in the workforce.
A study from the Brookings Institute reports that 64% of Millennials would rather make $40K each year at a job they love than $100K each year at a job they dislike. Experience matters to this generation, not just in their workplace but in the marketplace as well.
Digital interface is key when you’re marketing to millennials. This is the generation most likely to shop online and least likely to purchase in-store, BUT, they do tend to spend large amounts when making a purchase at a brick and mortar.
Marketing to Millennials has to span a comprehensive brand identity as well. This is the generation that’s most receptive to recommendations from their peers, online reviews, ratings, and blogs. In the words of Brian Clark, Millennials, “want to learn before they buy, be educated instead of pitched.”
Marketing to Millennials
How can we apply what we’ve learned to zero-in on effective marketing for Millenials?
1. Focus on Innovation – Millennials love the next new thing and they aren’t interested in a bland or standardized experience. If you aren’t marketing a product or service that would naturally appeal to these free thinkers, try to innovate a new perspective or approach to the problem your product solves.
2. Use Reviews – This generation decides where to grab a cup of coffee based on Instagram and has their meal kit delivered each week because it was recommended by a friend. 68% of Millennials report that they won’t make a major decision without discussing it with people that they trust. Yelp, Google, Facebook, Amazon, TripAdvisor, you name it. Anywhere you can get positive reviews for your product or service you will be feeding into developing a connection as you market to Millennials.
3. Offer A Discount – It’s reported that 72% of Millennials search for a discount online before they make a purchase and 52% search for a discount before they purchase off-line. Overall, Millennials spend an average of three minutes searching for discounts before they make a purchase. Offering coupons, discounts, or incentive programs helps ensure that yours is the product or service they find.
4. Be Mobile – Mobile optimization has never been as important as it is when you’re marketing to Millennials. 84% of Millennials own smartphones and 46% use them to compare prices, read reviews, or find coupons while they are shopping in stores. Reaching Millennials means connecting with them via mobile platforms, mobile-optimized sites, and social media advertising.
Join us next week as we wrap up our generational marketing series with a look at Marketing to Gen Z! And remember, if you need a hand with innovative, authentic campaigns that appeal to Millennials, we’re always here to help.