In contemporary business, young adults aged between 18 and 34 years, otherwise referred to as millennials; represent a significant portion of consumers. Research shows that millennials wield approximately, $1.3 trillion in buying power each year. Therefore, millennials are increasingly becoming an interest group for many marketers. If this group of consumers is among your target market, below is some valuable advice on how to market to them successfully.
Marketing to millennials can be a walk in the park if you understand their trends. If you want to reach out to this consumer group successfully, you need to know the best way to reach them. For instance, the youths rarely read print newspapers; you won’t reach them through newspaper adverts. Therefore, before choosing the right method, make sure you are using the right avenue. Failure to make the right choice will result in poor sales, and probably a wasted marketing budget.
One of the most successful marketing tactics involves the use of mobile technology. Research shows that more than 85 percent of millennials own a smartphone. Such information comes in handy when marketing to millennials. The key here is to be creative. Create adverts that appeal to the youth; funny ads work anytime. Remember to use webpages that are optimized for mobile access. Failure to take this into consideration may lock out a good number of millennials from accessing your marketing message.
Did you know that sending a message worldwide through social media is so easy? Did you also know that it is one of the cheapest ways of reaching out to both existing and potential customers? Now you know. Reach out to as many young adults through social media marketing. Companies are embracing social media networks such as Facebook, Twitter, Instagram, and LinkedIn to market to the consumer community. As much as this method is not exclusive to millennials, it works best with this target group.
The marketing content is equally important. Marketers need to come up with relevant content that can capture the attention of young adults. Funny videos with marketing messages have proven to go a long way in spreading marketing messages. The share feature in social media, as well the forward feature in messaging apps enables millennials to share and forward content they like to their friends and family members. Engaging content has the ability to create brand evangelism between friends and family members. Create a brand that is relevant and offers simple solutions to world problems; this will definitely win the attention of this target group.
Collaboration is the key to winning the loyalty of this group. In modern society, a company usually offers products and services and hopes that consumers will buy them. However, this changes when it comes to millennials; they expect to be part of the product development process. Companies that engage the youth in product development have a higher rate of success compared to companies that do not. For this reason, marketers are increasingly building strong relationships as a way of winning their loyalty.