Tips For Marketing To Millennials
Here in Australia we are seeing an ageing population. The Baby Boomers are all moving into retirement as we look for the next leaders of our economy.
Millennials have grown up using the internet and the first thing to understand is that they are no longer kids. Considered anyone between the ages of 19 and 35, millennials are now key decision makers. They own a house, they have a family and now hold a middle or upper management position at work.
This has led to a huge change in the way our potential customers consume marketing. Gone are the days of traditional advertising on TV, Radio and Newspapers as millennials don’t watch or listen to this media anymore. Online products like Facebook (for news), Netflix and Youtube (for entertainment) and Spotify (for music) is now allowing millennials to consume information on the go, when it is most suitable for them to do so. I am also willing to bet that for those of us who do watch TV, that every time you see an advert the first thing you do is “Google it” – a phrase now inducted into the dictionary.
Millennials are taking over the buying power of this country, so how do we attract this wealth to our products and services online.
Get Good Review Online
With the explosion of online reviews a successful company needs to be accountable much more these days. Millennials know that reviews on websites are often fabricated from a few happy clients and put little weight on their reliability.
With the ability to find real life reviews on websites such as Google Business, Facebook, Menulog and True Local, just to name a few, millennials know how to find out what our service or product is really like. And they can do it quickly!
The biggest key is to be at the top of our game…. always. Treat every custom as a possible referrer. Sometimes we work on the rule of 3 to 33, and this rule states that if someone likes your business they will probably tell 3 people about their great experience. But if they had a bad experience they are more likely to tell 33 people about it, and even more online.
Think about the last time you went out for a great meal, how many people did you tell the next day. Then think about the time you had a horrible meal, maybe slow service, cold food or perhaps it was a little overpriced, now think about how many people you told.
We need to make sure we are actively interacting with customers online, and usually the bad reviews are the most important, we can grow our referral business and market footprint as a preferred supplier to the millennial demographic.
Don’t Start Greedy
Blame the mining boom if we must but millennials grew up with plenty of money being thrown around, and hence the price of everything skyrocketed. With the recent downturn these same millennials have become very money savy, they know what it is, they know what it means to have it, but they also know what it means to do it tough.
Millennials are now selling their jet skies and fancy cars for more cost effective products. Having grown up when money was plentiful millennials are well aware when a company is ripping them off, the only difference is now they care!
If we offer added value and we will see loyalty and trust from this demographic for years to come.
We have all heard it before, but we MUST be mobile friendly these days. Every millennial has a smart phone and the ability to quickly source information from the palm of their hand. Surveys have shown that more than 50% of all online searches are being done from a mobile device these days. Millennials are so mobile-centric that 1 in 5 only ever accesses the internet from a mobile device.
If we don’t embrace it we will miss out. And by embrace it I mean embrace, don’t just make our online presence miniature versions of a desktop computer. Really redesign our business exclusively for mobile platforms. Think of it this way, if you have a house imagine scaling it down to a doll house….. it doesn’t work does it. Millennials use Laptops, Tablets and Mobile phones in very different ways with different requirements and if we don’t fit those needs it is very easy for a millennial to google someone that does.
Take a Stance to Help the Greater Good
With access to so much social media these days millennials are influenced by more than financial performance, they want to join force with companies that fight for the greater good.
When evaluating a company previously we looked at Annual Reports and Client Lists. Millennials these days look at Facebook and real life testimonials. If they are going to spend their hard earned cash, they want to know it is not just going to a profit eating fossil, but a company actively participating within the community.
What it means
It really isn’t that hard to attract millennials, after all they are all in the same place – online. Even though the internet has reduced boundaries and geographical constraints we still find that millennials favour local business. But they do want to be able to find us online first.
So we need to become active, help our community and share and interact online.
Of course everything we have mentioned assumes our business is actually on the web, all the channels millennials like to communicate through need to be open if we want to reach these valuable customers.
If you aren’t online yet, then there’s your first point of action!