Finding your target audience and understanding their needs is hard enough, let alone when it comes to specifically marketing to millennials. Because millennials are highly educated, technology savvy, and curious about everything, they are also very brand- loyal once they find that brand that gives them the openness, honesty, and thoughtfulness that they’re looking for. If you want to attract millennials, you’ll have to learn about what makes them tick and what drives their behavior. If you really want a great return on investment, you have to know how to get them to respond to your marketing efforts and not waste your time on what doesn’t resonate with them.
What You NEED TO KNOW About Marketing to Millennials
Traditional Advertising Is Out – Instead of advertising, it’s best to offer information about your product or service that is realistic and hopefully proven by other customers. To them, ads are just more spin and lies and don’t actually reflect the truth of what the product does. They will believe their friends over an advertisement any day, no matter how convincing you are.
The Sharing Economy – Business like Uber.com, Airbnb.com, and Renttherunway.com are the way millennials like to enjoy the large life without having to put out a lot of cash. Some places even offer rental dogs! Many cities have bike rentals and other means that millennials can use to share instead of buy outright. While a lot of millennials have cars, many lease them instead of own them, and they often prefer to rent homes over buying because it’s not as usual to stick to one place as it used to be. Understanding that is key to marketing to millennials, because the more you can offer opportunities for them to share, the more it will attract them.
They Research before Buying – Millennials like to do a lot of research before making purchases, even for small items. They’ll not only read blog posts, but they’ll also use social media to ask their friends, often while shopping. If they can’t find enough good information about the item in question, they’ll pass it by. Never has it been more important to provide great information to your audience as when you are marketing to millennials.
People Not Logos – They don’t care one bit about a big corporation and put zero trust in that company over individuals. If an individual blog owner posts something negative about a product they’re interesting in, even if the company has a lot of information out there, they’ll trust that blog post by the individual over the info put out by the company. That’s why it is essential when you are marketing to millennials to put a lot of effort into showcasing great ratings and reviews, while responding appropriately to any negative ones.
Less Money to Spend – Due to having less money to spend, despite their education levels, growing up in a troubled economy informs much of what they do. This is why they’re great with keeping their ownership light and like to focus on experiences over ownership.
Socially Connected – Even the introvert is social and connected today thanks to the social media that millennials grew up with, and in some cases even created. They are less private and like to share their entire lives, which is why they value authenticity and openness over money and things. Millennials will respond readily to social media marketing because it speaks their language.
Older Age to Reach Milestones – The age that millennials get married, have children, buy property, and do those life activities that are considered major milestones is considerably older than the generations before them. The average age of marriage is about 30 for this generation. That means you, as a business, need to redirect your marketing to take into consideration these new demographics.
Millennials lived a different life than many generations. They probably saw their parents lose everything in the stock market crash, even parents who “did everything right.” This is why they may find themselves making far different choices based on their perceptions that success and life is fleeting. As such, it is essential that you keep in mind these differences when you choose which marketing strategies to employ if you want you best return on investment when marketing to millennials.