3 WAYS YOUR BUSINESS CAN ATTRACT MILLENNIAL CUSTOMERS
Here’s hoping this new year has you cashing in on success with the execution of your digital strategy!
It’s no surprise that businesses are chomping at the bit to attract millennial customers. Millennials–born between 1980 and 2000–are the largest generation in U.S. history. According to Accenture, millennials will spend $600 billion this year. As a business owner, how can you execute a digital strategy to tap into this huge market for potential customers?
1. Show Them You Care
Millennials care more about a business’s image and actions than previous generations. A study by The Boston Consulting Group found that 50 percent of younger millennials and 38 percent of older millennials are more likely to patronize businesses that demonstrate values similar to their own. One way to show millennials your business cares is to become a sponsor for charitable events that align with your target market. Depending on the type of business you own, you might consider a “one-for-one” donation program for a program that makes sense. When a customer buys one of your products, another is donated to someone in need – Toms Shoes has done this to perfection.
Another way to show millennials you agree with their ideals is to make your business as environmentally friendly as possible–and make sure to note this on your website and signage. If your target customer has a value system you can adopt/align yourself with, it’s a good digital strategy for this marketsector. And genuinely care, if you’re not going to truly care about their wants, needs and concerns, then don’t bother – this group is very marketing savy and can smell B.S. coming at them a mile away.
2. Embrace Social Media
Most millennials can’t remember a time without computers, internet, and cell phones. They are very comfortable using technology, particularly when it comes to making purchasing decisions. They rely heavily on social media to influence them. A study by SDL noted that millennials are 56 percent more likely to use social media, rather than email or search engines, to make buying decisions. Use social media to your advantage whenever possible as part of your business’s digital strategy. Create relevant and interesting posts about your business on Twitter, Instagram, Tumblr, Pinterest, and Facebook. Also, millennials are interested in saving money, so offer deals they can only get on social media. Make sure they receive a benefit from interacting with you socially.
3. Don’t Talk Down to Them
Millennials are smart–according to Harvard’s Institute of Politics, 59 percent of millennials who are 18 to 29 years old have at least some college education. Via the internet, they have the entire world at their fingertips. They are poised to become the most educated generation in history. They are very knowledgeable about products and services. 70 percent of millennials research products online before visiting a store, according to a survey by The Intelligence Group. Keep this in mind when you deal with millennials in person. Use this digital strategy when you create pr/marketing and advertising campaigns. They read reviews, they write reviews, they investigate, they participate.
Hence, to court the largest generation in U.S. history, your business needs to appear youthful and energetic. By making these three small changes in your business strategy, you can appeal more to millennials. You can also appeal to the $600 billion they will spend this year. Hope these power PR tips help you tap into this influential and lucrative group.