As millennials become one of the most powerful buying powers out there, many businesses are turning towards this group as their main consumers and wondering how marketing to millennials works. Even though boomers are still the top buying power, we keep seeing industries begin to crumble under the pressure of getting millennials buy and interact with them. Why is that? Well, millennials may still not have the highest buying power, but they are currently the largest generation in the US, with 72.1 million people.
Marketing to millennials isn’t as hard as you may think. With the rise of social media, and modern marketing techniques reaching millennials and convincing them to buy something despite their economic hardships is a possible mission. With that being said; you totally want them on your side so here’s how to reach them:
Why Marketing to Millennials is Beneficial
To define millennials with more accuracy, they are the people born between 1981 and 1996. So, millennials are currently reaching their 30’s or 40’s. This means most of them are a few years into their careers or in the workforce and have an income to spend.
Struggles of Millennials
Millennials are known for being the generation that has struggled the most with student loans and other types of debt. As market inflation has become more of an issue over the last few years, even those with high income struggle with staying afloat in this economy. Despite their struggles, Millennials are more involved with what they consume, than previous generations had been. And, they are currently the most lucrative market with buying power of over a trillion dollars.
Building Millennial Trust
A purchase for someone from this generation, has a certain morality or value to it. This makes marketing to Millennials more of a challenge, because they are looking for authenticity and brands they can trust. Once you have earned this generation’s trust, chances are they will buy, and they will do it often.
Millennials are also what we call internet natives. Most are tech savvy individuals that grew up with the internet as it evolved into what it is today. With brands becoming more digital, and marketing plans having to use social media as a technique to get out there marketing to Millennials has become more accessible and in many ways; faster than it used to be.
Millennials view brands they follow on their social media, similarly to how they view their favorite celebrities or influencers, as something worthy of their attention because they share their values or missions. For your brand, this means you have a huge chunk of the population at your hands using channels that are less expensive and easier to work around.
How to Approach Millennials
So, we’ve established why you should want to reach them, now let’s answer the truly complicated question, how can you reach them? It is actually not as complicated as you might think. Millennials are almost an in between generation, they didn’t grow up without access to the internet like boomers, but they were also there at a time when it was much different than it is today.
So, despite what social media platforms are gaining popularity recently, you’ll have an easier time reaching millennials through the OG’s like Youtube and Instagram. Once you’ve gotten their attention, marketing to millennials is all about keeping them interested.
What Are Millennials Interested In?
So, what do they want? How do you keep their attention? Millennials hardly ever trust old-school marketing methods like billboards and magazines because they aren’t interested in interacting with brands per say, but with other people who are like them and that they can relate to.
User-generated content is highly successful in marketing to millennials, because they would rather listen to and buy what their peers recommend. Offering solutions instead of just selling a brand is also a great way to target this generation, it is important to make it clear that you are not just trying to sell, but to help make their lives easier in any way.
GreenStar Can Help You Reach Millennials
So, there you have it, every industry needs Millennials to stay afloat. Need more help reaching potential customers? GreenStar Marketing is full of marketing experts that can help you with your efforts to reach as many people as possible.
We are here to help! If you are ready to go the extra mile with your content creation or simply looking to get started give us a call today. We are not only experts in reaching audiences through social media, but many other marketing techniques. We also have extensive experience in the telecom industry. Give us a call today, and we can get you started with a lead-generating marketing to millennials plan.