Millennials account for roughly 25% of the population and have an estimated annual spending power of $600 billion. But, only about 50% of millennials say they are loyal to a specific brand. This is due in large part to the myriad eCommerce brands competing for their attention, price comparison tools, and the convenience that retail giants like Amazon offer. Still, millennials are an important market to tap into and you can’t expect the same traditional marketing strategy to work that you use with older generations. If you want to effectively market to millennials in this day and age, consider the following tips.
Top 5 Tips for Appealing to millennials
Create a strong online presence.
Millennials are notoriously tech-savvy. They can’t remember a time they didn’t have constant access to the Internet and the conveniences it provides, and they rely heavily on customer reviews and their own online research when making a purchase. Create a strong online presence for your brand using social media and a mobile-friendly webpage or app that features meaningful, high-quality content, and you can significantly improve your visibility and reputation among millennials.
Offer deals and discounts.
Millennials are extremely budget-conscious individuals. It has also made them less brand loyal than older generations. They still care about quality products, but they want them at the best possible price, even if that means switching brands. In one 2018 survey, when asked to associate a variety of terms with any of the brands they consider themselves loyal to, 85% of millennials responded, “well priced given the quality.”
Cultivate a personal connection.
As a whole, millennials tend to favor genuine experiences and personal connections, especially when it comes to purchasing a product or service. When they call your customer service department, they don’t want to talk to a recording. They want to be heard and have their opinion count for something. Make an effort to personally engage with Millennial customers, find ways to put a human face on your brand, be transparent, and listen and respond to their feedback, and they are more likely to stick around.
Support a worthy cause with your business.
Millennials care about the environment, important social issues, and making a positive impact on the community. They want to know that your business does, too. In fact, research shows that 64% of millennials consider a brand’s stance on various issues when deciding whether to purchase from them. Choose a cause you genuinely believe in and want to support (faking it won’t cut it with millennials) and provide an additional incentive to Millennial customers who are shopping around.
The millennial generation is set to become one of the largest customer segments for online commerce and the single most powerful generation of buyers. If your current strategy doesn’t meet millennials on their level, let Web Content Development help you with your ultimate online marketing strategy.
Erica D'Arcangelo is the CEO of Web Content Development and has over 17 years experience in the Internet Marketing field.