Millenials have a reputation of being lazy, narcissistic, and over sensitive. Despite hearing constant criticism about my generation, I am proud to be a Millenial. The term “millenial” is not the equivalent to being uneducated and carless- it’s the opposite. We are the most innovative generation.
Millennials challenge convention and create new ways of doing things every day. As a marketer, I am aware that millennials represent the market of the future. They already account for an estimated $1.3 trillion in direct annual spending and are the largest generation in history. Businesses must adapt their marketing strategy to tap into millennials consumer habits.
Here’s how you gain more millennial customers…
We are Tech Savvy
Millennials are 2.5x more likely than other generations to be early adopters of technology. (Millennial Marketing)
As a millenial I am a part of the first generation to grow up with the internet as an everyday part of my life. I embrace technology and would call myself a digital native .
Every day, I wake up to my google home’s alarm, telling me my schedule, the weather, and turning on WSB-AM to play throughout my apartment. At the Office, I use Trello to keep track of projects, dropbox to upload files, and salesforce to keep track of my prospects. Technology is ingrained in my entire life. In fact, Millennials are never far away from their next text, with 80% sleeping with their cell phone next to the bed.
Just like other millenials I see the value technology offers, like saving time, holding me accountable, and organizing my life.
If your not online, your business does not exist to millenials. This includes your website, social media, and review sites. This means posting on social media regularly, encouraging customers to submit online reviews, and having a website that is up to date and optimized for mobile.
We Value Time
With the adoption of more smart devices utilizing voice, real time data, and streaming, it’s evident why we are labeled as the “ We Want It Now” Generation. I value my time more than anything else. On my way to work, I send texts using Siri, and set reminders on Google Assistant. If I have a question about a service I will Direct Message Business on their website or Instagram. And if I want to book an appointment I do so online. 48% of consumers would rather connect with a company via live chat than any other mean of contact (Hubspot).
To increase revenue, add online booking to your website. Be sure to include wait times and an estimate of the amount of time it takes to complete the service.If your business has a longer service timeline, explain what that timeline looks like and each step in the process. Send emails to confirm appointments with links to your business address and to add the appointment to an online calendar like Google or Outlook. Utilize Live Chat on your website to engage with customers and provide 24 hour service.
We Listen to Others
84 percent of Millennials say user-generated content has at least some influence on what they buy (Bazaar Voice)
They are inspired by people they know in person or online. or even strangers who share their interests on social networks.Millennials are 3x as likely to turn to social to get opinions on products to buy (Bazaar Voice). Millennials carry these “advisors” with them on their smartphones and everywhere they go.
Take Action : Use subtle advertising like influencer marketing or social ads on Facebook and Instagram, you can create social channels that millennials will want have as part of their feed. Put consumer opinions front and center. Everywhere. Ask consumers to give you feedback on social media and review sites. Millennials want to share, so get them talking and respond. Be sure to thank customers for becoming your advocates!
We are Connected
62% of millennial shoppers state that interacting with a brand on social media makes them more likely to become a customer (Forbes).
With these stats in mind, it’s clear that brands who engage their millennial consumers on social are more likely to increase their revenue.
Take action: Prove you care. Respond directly to customer and reply to every person who comments or sends a direct message. Develop a consistent strategy on how to engage with potential and previous customers on social media. Contests and giveaways are a great way to increase engagement and build a stronger following.When they know you care, they’ll come back with more feedback, and these conversations will create consumer loyalty .
Winning Millennial Consumers takes a whole new way of selling. How is your business working to become more social, transparent, and engaging?
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