How to Market to Millennials in 2020
How do you market to the world’s biggest new generation of customers? Do advertisements on TV, radio, and posters still work?
Millennials, a new generation of hungry shoppers who just want to feel good, and be convinced of their purchases from someone they can believe in, and they have the market share to prove that.
Why is it Important to Market to Millennials Anyway?
Millennials are the biggest opportunity/threat to businesses! Did you know that Millennials (now aged 22-37) account for nearly a quarter of the U.S. population, making them the largest living generation by the end of 2019? Additionally, Millennials are expected to spend up to $1.4 trillion (30% of retail sales in the U.S.) by the end of 2020.
As a marketer, the primary goal is to understand the consumer behavior and purchasing habits of this generation, and develop effective strategies. How do you advance the outreach of your brand to leverage the impending prime purchasing years of Millennials? You must start by thinking like them, and resonating with their consumption trends.
marketing to millennials.
4 Millennial Marketing Trends to Monitor:
1. Marketing that Makes a Difference – Eco-Friendly
Millennial are eager and active advocates of making the world a better place. According to a recent study, more than 56% of Millennials care about the environment. What does this mean for your marketing strategy? Focus on marketing techniques and products that have ecological value – waste responsibility, recycling, and green technology.
2. An Enlightened Generation – Is Your Marketing Strategy Authentic?
Technological advancements and new media have allowed millennials to access more information faster. According to the Pew Research Center, 4 in every 10 Millennials has a Bachelor’s degree. This is a fact-finding generation that demands authenticity rather than cheap ploys in traditional advertising. To effectively advertise and sell a product to Millennials, you need to provide high-quality and authentic content that has a rewarding customer experience. Is your marketing strategy funny, intelligent, and thought-provoking? Who is telling the message. Consider using someone your audience already knows – read about the importance of influencer marketing.
3. Socially Conscious – Millennials Need to Connect
Social media plus Millennials is a no brainer. But to put the pair into a marketing perspective, a research study showed that Millennials (over 63%) view social media as the most effective advertising medium – the other generations chose television ads. Snapchat is the best platform for brand awareness, especially among the younger youth, while Instagram is better suited for older teens all the way to the oldest millennials, and beyond. You can use Instagram Marketing to easily market and sell your products directly on the platform, as well as, bring them to your landing page/ site to convert them there. As a business owner, you should focus on cultivating a fruitful online community to facilitate long-term engagement and brand awareness. The generation’s urge to connect on social media is an opportunity that cannot be ignored.
4. User Experience/Engagement
You’ve heard of phrases such as YOLO (You Only Live Once) or FOMO; what do they signify about the Millennial generation? Millennials value experimenting and experiences. It’s not a surprise that nearly 70% of the generation is open to the idea of traveling. Marketers and business owners can appeal to their target audience by providing personalized and engaging content that meets the needs and wants of Millennials. A great way to increase engagement with Millennials is through mobile. How do the enlightened and socially conscious Millennial consumers find time to compare prices, read reviews, connect with peers, or even shop? On the go, courtesy of applications such as; Yelp, Snapchat, and Instagram. So, are your marketing strategies mobile friendly?
Start converting Millennials as your customers
Converting Millennials into customers seems tricky. However, by evolving and adapting your marketing strategies to suit the Millennials’ trends, the possibilities and opportunities are endless. Marketing strategies are often created by experienced agencies who know the target market, and have access to influencers. As the generation approaches a period of high earning and spending, have you established your footprint in this unique target population? Get a free quote today, and see how Something About Marketing can help you reach your ideal millennial market today!
