According to Tech World by 2020, Millennials will officially peak as the largest population demographic in the U.S. As of right now, there are more millennials than ever living, working and spending money in the psychical and digital economy making them one of the most lucrative targets for any brand or company.
Millennials are very tech savvy and growing up in the boom of the digital age are largely desensitized to traditional advertising and marketing strategies. To effectively market your brand to such a group requires lateral thinking. You need to connect with your audience at a level they consider worthy of their attention. But, how does one achieve this?
• Offering exclusivity
• Supporting or helping a cause
• Prioritising individuality
These are just some of the methods you may want to consider when developing your marketing strategy. We’ve outlined some further tips on improving your marketing below.
1. Engage them where they reside—online
Today, many of the old school marketing methods are ineffective and simply will not work with millennials. They don’t respond to phone calls – they prefer text or IM. They wont look at your mailers – they prefer emails. Door-to-door? Forget about it – they like to engage on social media.
2. Add exclusivity
Add an exclusive incentive for people to shop your brand. This can be something as simple as a loyalty card program. These programs can be implemented digitally or with physical plastic cards. Loyalty cards can be a great way to draw people to your brand. Loyalty cards give your customers a reward incentive and gives you a boost in business and an insight into your customers spending habits
3. Appeal to their values
Most millennials have a cause that they wholeheartedly believe in. Whether it be animal rights or protecting the environment, most have something that they associate with on a personal level. Therefore, you can harness this in your marketing campaigns by for example, donating a percentage of sales proceeds to a specific charity. Such a small action can be the difference in the customers choosing your brand over the market leader – assuming you’re not already in this position.
Millennials are a tricky bunch. It’s not easy to market to a group of people who have so much choice. But, if you can tap into their mindset, appeal to their values and align your brand accordingly, you can effectively capture the market.