How do you market to millennials?
This seems to be the big, mystical question on a lot of businesses’ minds. And it’s a good question to ask, especially since Millennials officially make up the largest share of the workforce—giving them significant sway over trends and market direction.
The trouble is that Millennials really don’t respond to the same forms of marketing as previous generations. In fact, 84% say they don’t trust traditional advertising at all. That means commercials, billboards, radio ads, banner ads, cold calls/emails, and even AdWords (in some cases), are pretty much out the door.
Millennial marketing requires a completely different strategy, one that focuses more on the relationship and approach rather than the platform. And to do this successfully, you have to understand their mindset.
It’s Not About Price
Probably the most important thing to understand about millennials is that their consumer behavior is heavily predicated on 4 things: quality (both of the product and the company), consumer opinion, authenticity, and social consciousness. Here’s what that means:
- Less than half of millennials consider price the number one factor when making a purchasing decision.
- 68% will stop doing business with a company because of bad customer service.
- 93% of Millennials have made a purchase based on recommendations from friends and family.
- 62% say they’re more likely to become a loyal customer if a brand engages with them on social media
- 91% are more likely to switch to a brand associate with a good cause.
You don’t need to hark and hammer on sales and deals and savings. Millennials want to know who you are, what you stand for, why you care about them, and how your business impacts the social good.
When you get down to it, it’s really not about selling your product; it’s about selling your brand. Millennials already know why they need to buy something; your job is to tell them why they should buy it from you.
Creating a Strategy
So how do you take this information and turn it into a marketing strategy?
For starters, it’s not so much about the platform you use (outside of the ones mentioned earlier) as it is the way you use them. Whether it’s social media, blogs, emails, or an app, the real driver behind a successful millennial marketing strategy is content.
Your content is going to be the best way to bring authenticity to your business because it allows you to get beyond the shallow notion of “advertising” and actually tell a story.
Let’s take Farmers Markets, for example—which have almost tripled in recent years and are a huge hit with Millennials due to their “local” nature.
A solid strategy would focus on the process of growing the food, the care that goes into it (as well as the surrounding environment), and the family history behind the farm. You might even feature some easy recipes and meal ideas using the food. That’s real value, and that’s what Millennials want.
Another winning content strategy to consider is user generated content. This is where you encourage your customers to post, tweet, or blog about their experience using your product for other consumers to see. And since Millennials put a lot of stock into consumer opinion, this can be highly effective when executed properly (HubSpot has some great examples of successful UGC campaigns).
If you want some deeper insights into Millennial marketing, sign up for our next WideNet U class where we’ll be exploring this very topic and diving further into what really connects with the Millennial generation.
