For Millennials, Technology Means Convenience…
With more products and competitors hitting the market, digital marketers must develop innovative strategies to target prospects and retarget existing consumers. However, one segment of the consumer market, namely the millennials form a major chunk of buyer demographics.
Millennials are those people who are born between 1981 and 1996. (age 25 to 40 years in 2021). Data on millennials has shown time and again their love for buying anything that can amplify their self-worth or make them look better in front of others. We'll focus on how to sell to millennials in this article, including references to important research papers from reputable sources.
It's important to remember that millennials are digital natives born during the internet boom. They are the market's tech-savvy customers, who only purchase after conducting considerable research.
Millennials have excellent purchasing power and regularity, yet they distrust advertisements and have little faith in firms that try to sell to them straight away. In other words, people admire businesses that take the time to learn about their requirements and develop connections with them.
Let's look at the top social networks to drive your millennial-centric digital marketing campaigns. According to Pew Research, 93% of millennials use cell phones, and virtually all of them use the internet. As a result, utilizing digital marketing to reach this demographic is a priority. The effectiveness of your digital marketing strategies, on the other hand, will be primarily determined by the channels you utilise, the posts you craft, and how you carry out the overall campaign.
So, which social media platforms are ideal for reaching out to millennials?
90% use Instagram and Facebook, according to Hubspot data. However advertisements perform worse than user-generated and organic content on social media. Hence, using random Facebook ads cannot guarantee the digital marketing outcomes you seek. Instead, it would help to concentrate on highly-specific, fun and trending organic posts on your page handle.
Marketing to Millennials: Some Pointers
Businesses cannot afford to ignore the millennial demographic since it represents a huge and profitable market. While this demographic is appealing to many companies, it is not as easy to market to them as many would like to believe.
To effectively target millennials with your digital marketing strategy, you must first understand their concerns. This includes the following: (just the basics)
Instagram, Twitter, and Snapchat are some of the other social media platforms you may utilize to launch your digital marketing initiatives.
Regarding brand loyalty, millennials are more prone to hop brands because they value customer happiness. According to Daymon Worldwide's research, just 29% of millennials buy the same brand. To maintain your position in a particular consumer segment, you must go above and beyond in innovation to create a positive customer experience.
For Millennials, emails do exist
While it's true that Millennials are less likely to check their email accounts, the 2015 Salesforce State of Marketing study shows that they still want to hear from you in their inbox. Most millennials have a separate email account for promotional information, with 95% of them subscribing to an email list after "liking" a brand on Facebook. Because millennials say they check their social media accounts less frequently than their email inboxes, it's all about the quality of your messaging and placing the correct information in the proper channel. To reach out to your young customers, use email and social media in tandem or mix the two. Real-time behavioural marketing technology has made this possible.
Survey by Marketing Land says that Generation Y is looking for 1-on-1 communication with firms when it’s about their purchases, company updates and customer service. When offered the choice of engaging with a brand by email, in person, postal mail, social media, phone, online chat, or text messaging, "respondents overwhelmingly preferred email straight across the board," according to the report. Social media gets high engagement rates on typically fun posts, which can be fulfilled by influencers. Still, according to AWeber, email has shown to be the most successful channel for a more serious, tailored message.
Last but not least, make sure your next online or email campaign is mobile responsive before launching it. With over half of all emails being viewed on a mobile device, your message must look great on any screen. Text that is slanted, graphics that are a jumble, and links that are hard to click, harm your millennial engagement efforts. If an email is not optimised for mobile consumption, 80% of subscribers will discard it.
Harnessing the Power of Digital Word-of-Mouth
Millennials have a strong sense of nostalgia. It should be no surprise that they choose the oldest kind of marketing in the book: word of mouth, given their throwback style in music and fashion. Let's look at some numbers.
Millennials buy a product after hearing about it from family or friends 93% of the time. Before making a purchase, 93% of millennials check reviews. Peer evaluations are trusted by 89% of millennials more than brand promises.
Traditional advertising will have little influence on the millennial generation's choice to buy if their peers aren't wearing it, using it, or talking about it. According to eMarketer, millennials seek online user-generated insights to "compare products, services, and even brands," similar to traditional word of mouth. Create an engaging platform for millennials to read and comment on your product and social media sites, satisfying their demand to make educated buying decisions. Have you gotten a bad review? Don't be scared to reply. Millennials will regard your brand as more approachable and honest even with a few unfavourable reviews under its belt. Always reply to reviews, including negative ones, and watch as your customers' brand loyalty becomes more vital than ever.
Sell deals, not discounts
Millennials are expert bargain hunters who can't pass up a good offer. Discounts are so crucial to their purchasing decisions that 55% of them are prepared to switch brands for a discount. So much for brand loyalty! In general, millennials are less concerned with brand names than their parent's generation was. According to the Online Marketing Institute, 63% will buy products from brands which might not be their favorites if they're attractive deals. However, double-check that you've used the correct wording before you click "send" on your next email campaign. According to Millennial Marketing, Gen-Y prefers deals, not discounts. Avoid using the word "sale". The word "deal" is preferred by millennials since it connotes exclusivity and good value for money. Can you figure out the one time when 37% of millennials are willing to pay more for a product or service? It's when your purchase benefits a good cause.
Millennials are experts at digging the truth out: Don’t try to outsmart them
Millennial marketing might be a difficult task. A solution to effective multi-channel campaigns is to combine powerful marketing cloud technology with the correct experience. If there's one bit of advice we can give you, it's, to be honest with yourself. Traditional marketing approaches have worn Millennials down as they have experienced every trick in the book. They will be more loyal to you if you are straightforward and transparent with them.
The bottom line is that digital experiences shape the present world and shouldn’t be dismissed as a phenomena for the future. Technology has a more significant impact on the millennial consumer journey than any other generation. 73% of the Millennials say they'd rather have a digital encounter with their bank than a personal one. Because of easy-to-use websites and terrific applications, millennials are more likely to use online and mobile banking channels than previous generations. For millennials, technology means convenience.