Marketing your products and services to millennials is key
for sustaining the future of your business. Right now, millennials are taking
over the consumer market, so it’s only smart to cater to them. There are
various ways small businesses can do this without breaking their advertising
budget.
Data shows millennials make up $500 billion in indirect
purchasing power and $200 billion in direct purchasing power. That’s a whole
lot of money to just leave on the table. If your brand isn’t specifically
targeting millennials, then it’s definitely time to do so.
Here are a few tips to keep in mind when planning your Marketing
Strategy.
Mobile Has to Be #1
This is an obvious one, since 90 percent of millennials are
attached to a mobile device (typically a smartphone). One survey shows 78
pecent of millennials reach for their phone immediately after waking up. All of
your ads and content needs to be mobile-friendly and engaging. The next part
will require some heavy lifting – determining what they would find interesting
enough to engage with.
Offer a Great Experience
If there’s one thing we know about millennials, it’s that
they don’t care about materials (like the generation before them). Instead,
they want to have great experiences they can share with their friends and
followers on social media. The ads you create in your campaigns should speak of
the experience your product or service will bring, not the benefits and
features.
Update Your Payment Methods
The internet offers consumers a variety of ways to store and
spend money virtually. It’s essential that you accept multiple forms of
payment, other than debit and credit cards. Find out which platforms
millennials are using the most, so you can add them to your payment options.
Millennials love flexibility, so give it to them any way you can.
Team Up with the Right Influencers
The great thing about today’s influencers is that they too
are millennials, so they “get” them. Partnering with online influencers in your
industry will make it easier to connect and engage with millennials. If you can
team up with someone your target audience looks up to or adores, then you hit
the jackpot. Influencers influence their followers, so be choosy in who you
agree to promote your brand.
Millennials are different from their parents, but this
doesn’t necessarily have to be a bad thing. All you need is consistent testing
and monitoring to determine what’s working in your marketing plan and what
isn’t.
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