Everyone wants to know, “How do we market to millennials”? Regardless of who you are, you need to understand the biggest generation in history and what you can do to connect with them.
Millennials are widely defined as those born between 1980 to 2000. This cohort wields substantially high buying power and influence due to its sheer size. According to Goldman Sachs, millennials outnumber the infamous baby boomer generation by 15 million men and women. Yes, that means that there are 92 million 17- to 37-year-olds in the U.S.
As the baby boomer population dwindles, millennials are beginning to become more important to businesses everywhere. In order to grab a slice of the pie, you’ll first want to develop a digital marketing strategy for millennials and understand exactly who they are.
Four Facts You Need to Know About Marketing to Millennials
1. You Can’t Hide Anything From Millennials Online
The internet is engrained into the lives of the millennials, so they probably know more about it than you do. This is especially important when it comes to selling your product online. Millennials are savvy shoppers who shop for the best deals and know where to find them. One survey found that 95% of millennials searched online for better prices, product reviews, and mobile coupons before purchasing a product. If you’re going to target millennials, make sure your deal is the best one if you want to land the sale.
Most importantly, you need to be honest. This group trusts peer reviews more than any other brand messaging. That means your business needs to listen to its consumers and address any issues or bad reviews before millennials find a reason to buy from someone else.
2. Millennials Value Sustainability More Than Previous Generations
Millennials are the champions of social movements, sustainability, and equality. More than any other generation, these values are altering the purchase decisions of millennials. One survey in France found that 34% of millennials chose not to purchase a product from their preferred brand because the brand was not eco-friendly or treating their workers fairly.
Evidently, millennials are making a statement about their commitment to equality and sustainability through the brands they purchase from and engage with. When developing your digital strategy, don’t underestimate the value of putting your green policies and ethical practices on display to millennials.
3. Authentic Messaging Promotes Trust
Unlike previous generations, millennials care more about the people on display than the product. Since millennials are a generation skeptical of businesses, they build trust through observing what their peers are doing. One growing trend is for millennials to turn to user-generated content on channels like Instagram to inform their purchase decisions. It’s important to invest in quality images of people using your products to get the best results online.
Yet, to truly earn the trust of millennials your brand must be authentic and consistent. Talk to millennials — don’t try to talk like them. Your brand voice should always shine through.
Taco Bell was one of the most successful brands on Twitter last year. They’re known to satisfy millennials’ late-night hunger — and their ever-growing presence on social media.
4. Integrate With Their Online Experience
Finally, your digital presence should fit seamlessly into the lives of millennials. Advertisements with poor imagery or obnoxious messaging will be passed up by millennials. After all, millennials are highly conscious of when they are being targeted and are even more wary of what is being sold.
According to The Wall Street Journal, Coca-Cola’s sales in the U.S. went up 2% after launching the ‘Share a Coke’ campaign. The campaign put 250 of the most popular names among teens and Millennials on 20-ounce bottles.
Respect millennials by creating a better online experience through ads that compel action and provoke thought. Of course, make sure your ad is placed in a relevant position and during an optimal time to see the best results.
Marketing is a process, not a goal. Earning the trust of skeptical millennials takes time, but will surely pay off for your business going forward. A strong, yet honest, digital strategy is how millennials can connect and feel comfortable with your brand. When developing a strategy, ensure that your offerings are honest, your messaging is authentic, and that you respect millennials online.
Now, let us help you elevate your business with a digital marketing strategy targeting millennials. Learn more about how we can help.