Millennials, or Generation Y, is the tag given to those people born between the early 1980s and the early 2000s. This demographic is now accounts for a lion's share of the population and as such holds a tremendous amount of buying power. Naturally, millennials have become the key target for almost every marketer in business today. But this group isn't as easy to influence as their preceding generations.
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Having grown up in a rapidly evolving environment rife with technological advancements and social turmoil, their priorities and expectations are vastly different from those brands have catered to in the past. Imbibed with an inherent disdain of advertising and a distrust for corporations, millennials are not easily influenced by conventional marketing efforts. Attracting their attention then requires a lot more effort and creativity. If you're a brand that's trying to market to millennials, here are four tactics you need to employ to engage the most vital demographic of today.
Having seen first-hand the birth and evolution of social media, millennials are quick to adopt the latest platforms during their early stages. Generation Y internet users have abandoned Facebook in favour of the newer social media platforms like Snapchat and Instagram. While using social media as a marketing tool is a given, finding the right one for your target demographic is a vital part of devising an effective marketing strategy.
Text is out, visual is in. It’s no secret that millennials don't respond to content like blogs and slide presentations. They prefer visual content in the form of video, images, and infographics. With attention spans dwindling day by day and information overload becoming a reality for internet users, brands need to find engaging and effective ways to inform and influence their potential customers. With the introduction of features like Snapchat's Discover and Instagram/Facebook Stories and Live, brands now have access to new platforms for connecting with millennials.
Millennials have a wide variety of options available to them today. No matter what your brand is selling, there's a good chance that you have a competitor or two trying to pull the same customers. You need to give them a reason to choose your brand among all the choices. This requires fostering a relationship with your online audience. Relate and interact with them on a personal level; take the time to respond to their criticisms and suggestions on social media; show them that you care. If you gain their loyalty, then you're virtually assured of a lifelong customer.
Millennials don't like being treated like consumers. They don't want to be told to buy something because it is ‘the best in the market’. They want proof that what you're selling can truly benefit them and they would like your customers to tell them that. User-generated content and social media influencers that tout your product or brand are more effective than any conventional advertising or direct marketing method that you can employ.
Millennials demand authentic and transparent communication from brands. Tailor your marketing efforts around giving them content that is captivating and informative without being disingenuous and preachy, and you can turn them into valuable customers.