With diverse demographics and values among the group, the millennial market are considered to be much harder to reach and impact with marketing. Although since they comprise a large portion of the population, ignoring millennials as a target market is simply not an option. After all, millennials are the future, with their full purchasing power still yet to be unleashed.
The generation tends to display long-term brand loyalty, meaning that many businesses are striving to jump on the millennial market as early as possible. By building this loyalty now, they can reap the rewards down the track.
What can you do to improve your millennial marketing strategy? The best place to start is to strive towards achieving a better understanding of how the millennial target market operate. From here, you can test different millennial marketing tactics to see which ones work best for your brand.
Are you focusing on millennials as a target market? If you’re looking for creative ways to improve your millennial marketing strategy, here are 6 simple strategies to help get you started with the millennial market.
Word of mouth can be a powerful tool in a millennial marketing strategy, with networks of friends and family holding a strong influence over buying habits. Therefore optimising your referral tactics to create new leads for your business can be an effective means of reaching and engaging your millennial market
So, what are some ways you could enhance referrals? We recently put together an article packed with 13 tips to generate more word of mouth for your business. Click here for the full post.
Spin The Focus Toward Savings
A combination of factors, including a reduced income and accumulative debt, means that the millennial target market are typically inclined to cut costs and save money where they can. Whether it’s through exclusive sales or bundling deals, a millennial marketing strategy that reflects this value of ‘smart spending’ may prove to resonate with this particular audience.
With financial goals firmly established among many millennials, creating a sense of fiscal responsibility with your audience members could go a long way towards generating new leads.
Get Behind A Worthy Cause
With an endless list of online shopping options at our fingertips, merely offering a great product at a better price isn’t enough to secure a sale. By backing a charity, you can give your brand an edge while also contributing towards a positive change.
The millennial market tend to enjoy spending with the knowledge that their money is going toward a worthy cause. Offering your support to those in need can help catch the attention of this group while simultaneously showing them why you’re different from your competitors. Even if your products are more expensive, it may not matter to many customers if you’re actively supporting a charity
With the tapestry of knowledge now at our fingertips, it’s no wonder prior research has become an integral feature and popular practice of online shopping, especially among the millennial market. By offering more information on your website, you may be able to attract consumers that are eager to learn more about a topic relevant to your product or industry, and the best way to organically do this is with the help of a blog.
Creating a blog for your brand will not only offer a sense of credibility, but it can also deliver you with a platform to directly communicate with your millennial target market . With this platform, you can deliver your own relevant wisdom to educate your buyers and enhance their confidence in your product.
Consumers are likely going to read about your business somewhere, why not take some control of the story?Draw some favourable attention to your product/ services and establish your brand as a prominent source of information within the industry.
Get Interactive On Social Media
Millennials usually enjoy participating and expressing their unique voice, and there are many ways businesses can optimise this to boost their engagement on social media. For example, encouraging and regularly sharing user-generated content with your millennial target market can be a great way to acknowledge fans and make them feel much more connected with the brand.
On top of this, taking advantage of social media tools to offer your followers a chance to share their voice can potentially further enhance engagement. Instagram’s polls and ‘ask a question’ features are ideal examples of how you can effortlessly begin to encourage the millennial market to interact with your content and share their own opinions on a regular basis.
Collaborate With Influencers
Social media is king among the millennial target market, and influencers hold a prominent position within this kingdom. Similar to referrals, influencers have the capacity to affect the buying habits of their followers.
By posing alongside a product or creating a video review and offering their genuine thoughts, influencers can introduce your brand to their vast network of dedicated followers, overall encouraging potential customers see your brand as trustworthy and credible.
When choosing an influencer, make your decision based on engagement as opposed to the number of followers they have. Having 20k followers is great and all, but if they all ignore you, where’s the value? Instead, take some time to read through the comments on the influencer’s recent posts. Are the comments genuine? Does the influencer take the time to reply to comments? These elements are often an ideal indication of good engagement.
Creating a millennial marketing strategy is perceived to be a difficult task, however there are a handful of simple habits that you can integrate into your social media plan to make the process much easier.
The millennial market is largely interactive and thoughtful when it comes to purchasing, so incorporating features to allow these values to flourish can be a significant step toward reaching this audience and building loyalty. It’ll undeniably take some time before meaningful results are achieved, although anything worth having doesn’t come easy.