Marketing

While traditional marketing efforts are largely successful when targeting Baby Boomers, with the advent of new technology and a growing consumer market, there is a need for a new approach when targeting Millennials, also called the Echo Boomers or Gen Y. This generation represents another huge population bump, the largest since the Baby Boomers. They are currently between the ages of 15 to 34 and by 2020, they will represent one third of the global population. Not only are they much more tech savvy and ready to adopt new concepts if they find them useful, their power and influence is growing dramatically as they enter leadership positions in business and government.

Millennials share a unique and very different set of values that Baby Boomers, so companies must carefully consider where their brand is headed in the near future. Millennials represent the first generation in history whose consumption patterns and experience of the items that matter most in their lives were shaped primarily by personal computers, the Internet and the web. This has affected their ideas of delivery, production time and corporate social responsibility.

In order to successfully attract and engage this new demographic, you must know what makes them tick, when turns them on and (sometimes most importantly) what turns them off. Below are 8 strategies that are effective when marketing to Millennials. They take into consideration the unique characteristics, wants, needs and turn offs of this demographic and can serve as a guide when tweaking your marketing strategy to better entice them.

Deliver One of a Kind Service

Millennials expect personalization and just-in-time production. They want tailored jeans, engraved iPads and service that fits their unique needs. They will pay a little extra to get what they want, but for the most part they expect this level of service to be a standard option. To successfully meet their needs, companies must first understand them. By investing in CRM software that can keep track of as many personal details as possible and have them integrated into other business systems like call center software and helpdesk solutions as well as social media, not only will your company have comprehensive information about their customers, they can provide the one of a kind service they crave. Because if Facebook can remember their birthday, there’s no reason why your business can’t do the same.

Going off the grid causes anxiety for Millennials. It is very rare that they will be out of range of a cell phone signal or WiFi, even on vacation. They want alerts, texts or emails when something important is happening, like updates on repairs or closing dates for certain deals or bids. Keep in mind that they access the web through their phones more than desktops or laptops and their social networking apps are their primary source of news. Some analysts have concluded that email will be replaced by social messaging for Millennials by 2020. Living out loud through social posts and image sharing has proven important to them than privacy issues. In order to entice them, you have to meet them on the platforms that they spend the most time and ensure that your message doesn’t go off the grid.

Millennials want assurance that sustainability and civic responsibility are taken seriously by their preferred brands. Evidence of ecologically-conscious procedures and the use of recycled materials mean a great deal to the group. At the same time, they don’t mind using products that generate excessive waste or environmental damage if they can justify it through other social contributions. For example, they don’t mind driving gas-guzzling SUV’s or consumer items covered in layers of non-biodegradable plastic as long as the producers of those products support a wildlife foundation or an arts organization. Take this into consideration and show off your green side as much as possible.

The key word they want to hear is “instant.” Precooked food, fat pipe streaming video and instant messaging are the minimum acceptable performance level that they want. They can do several things at once and don’t trust a company that can’t do the same. They want a call back instead of waiting on hold. They want orders delivered to them wherever they happen to be traveling at the moment. Be prepared to meet their needs and you just might win them as a customer for life.

Millinnials see no reason not to monetize unused resources. They will rent out their cars, tools, offices, homes and even parking spaces whenever they are not using them. They are attracted to forums where they can connect with others to buy, sell and find new ways to put items to use. Embrace this fact for your next marketing strategy.

Unlike Baby Boomers, Millennials are not deterred by original and complex ways of doing things, like reinventing the UI with a touch screen or learning how to use a new game controller. New methods of payment like ecommerce or near field communication are just par for the course.

Just because Millennials tend to learn new procedures quickly does not mean that they like change. They can adapt when necessary but will not go out of their way to find new products. Companies must find which social network or online sites are preferred by a specific niche and find influencers within that community to introduce new products and innovations.

Millennials look for social proof before investing in anything, whether that means reviews, videos, referrals or forum posts. They trust this kind of information as much or more than personal recommendations. Negative customer experiences can be tremendously influential in their communities. And for them, the more positive reviews the better.