Ever wonder why you should market to Millennials (people born after 1975)? According to the UN Department of Economic and Social Affairs, U.S. millennials will outnumber non-millennials by 22 million by 2030. So, in just 18 years from now, you better understand how to sell to millennials or you’re out of business. Read this article to understand the real marketing challenges and opportunities for all businesses now and over the next 15 to 20 years.
The real challenge with marketing to millennials is this: they do not like to be sold anything. So, how do you get access to this generation Y?
Scott Gross, author of Invisible: millennials are changing the way we sell, has the answer, and I quote:
“There is but one key to admission into the Millennial generation: technology, specifically digital technology”.
But having access to digital technology, presence on social networks and a blog site as your central hub is NOT enough!
You simply need to know what’s driving millennials, what do they like or hate and how can you build relationships with them?
Especially if they don’t want to be sold and like you to be invisible until they need you.
So, the answer is in building relationships by focusing on something that is of value to them.
It’s not about you or your products or services.
7 key findings for successful marketing to millennials
The Boston Consulting Group just released a new report on the Millennial Consumer. Here are 7 key findings from this report:
- “I want it fast, and I want it now” Millennials are always in a hurry, and it’s essential to learn how you can get them to spend time developing a relationship with your brand;
- “I trust my friends more than ‘corporate mouthpieces’ ” 50% of Millennials (21% non-millennials) report using their mobile device to read user reviews and to research products while shopping;
- “I’m a social creature – both online and offline” Millennials use social media platforms more than non-millennials (79% versus 59%) and Millennials are also more likely to explore brands on social networks (53% vs. 37%);
- When it comes to making purchases, Millennials are far more likely than non-millennials to favor brands that have Facebook pages and mobile websites (33 versus 17 percent);
- 64% of Millennials feel that companies should offer more ways to share their opinions online in the future – and they’ll continue to participate;
- 71% of Millennials continue to share opinions because they feel other consumers value those opinions;
- Millennials are much more likely than non-Millennials to be engaged in online activities such as rating products and services (60% vs. 46%) and uploading videos, images, and blog entries (60% vs. 29%);
Get millennial ready: 7 TO DO’S
So, let’s end this article with a few basic and practical TO DO’S that get your business ready to attract millennials now and in the future:
- Be present on social networks that cater to the needs of your millennial audience;
- Provide stellar products and services all the time.
- Use real-time monitoring tools, like Google alerts or social mention to monitor how millennials talk on the social web about your products, services, brand or company;
- Listen to their feedback and respond to their questions or complaints;
- Offer easy ways to share their opinions about you online. Think about platforms like a Facebook page, Facebook Group, on Twitter, a Forum or Blog;
- Add share buttons to your central hub, so millennials can share whatever they like with their friends or followers;
- Create a responsive blog site that is mobile ready;
What are your thoughts on this? What would you add to this TO DO list? Please share your reaction in the comment box below.