Velloe Socially Conscious Blog

We blog on social responsibility and current thought leadership about making the world better.

Our social responsibility scope includes businesses, charities and marketplace trends that help people who support great causes to do well and outperform. We support those who do great work to build stronger communities.

Marketing to Millennials

Marketing to Millennials

Millennials make up the largest generation and are about to enter their prime spending years. That’s why many businesses are understandably trying to figure out how to best reach this cohort.

Millennials, Marketing, Statistics, Customer referrals, Advertising

Here are some more suggestions to help you better understand and therefore, market to them:

What millennials care about

Millennials appear to be more socially conscious than any other generation, as 88% of them indicated that they would buy a product that had a social or environmental benefit. A good way to cater to these desires is to advertise your association with a charitable cause, if you have one. There are plenty of apps that can do that for you, but using in-store marketing gets the point across to.

Millennials are also big on trust, as their preference for brands is defined by how genuine they are more than anything else. That benefit extends to charities as well, as 79% of consumers would donate to a charity supported by a brand they trust. Develop marketing materials that highlight your integrity so that millennials are aware of it, and they’ll respect your core message.

Millennials are a digital generation, so they care about online access a lot. Make sure your website is built for multiple devices, as millennials like to view sites on their computers, phones, tablets, and more.

Social media habits

Millennials love using social media, especially when it comes to learning about brands and causes they’re interested in. That’s why 34% of millennials use it to share positive information about companies that are making a difference. Don’t just use social media to promote yourself, start conversations with brand followers to foster that positivity and create new advocates.

Millennials are very active on social media, but the channels they use may surprise you. A little over half of their time is spent using Facebook, while just 15% goes towards Instagram, and 6% for Twitter.

Post your social media marketing messages to millennials at a distribution that’s proportionate to how often they use said channel. This will make sure you’re not wasting your time, and will help you drive engagement. About 62% of millennials are more likely to become a loyal customer

Millennial Walking

How they choose where to buy

Millennials are more distrusting of advertising than that of previous generations They’re most influenced by recommendations from people they know, with 85% claiming that to be their primary influencer when making purchasing decisions. Millennials value personal friendships, and stats like this show that the value extends to buying habits.

But while they don’t think of advertising as their first influencer, 67% are still influenced by ads they see on TV. Ads in newspapers, on billboards and in magazines influence about 60% of them. While many feel like millennials are purely digital, the numbers dictate that you shouldn’t forget about your traditional marketing messages when trying to cater to them.

Content creation is another great way to influence how millennials choose where they buy. About 33% of millennials rely mostly on blogs as a source of information before they make a purchase, compared to just 3% for magazines and TV news. Keeping an updated blog that provides great insights readers can share will help you stand out when they’re comparing products or services to buy.

Why it’s important to market to millennials

Three quarters of millennials also believe that businesses are focused on their own agendas rather than helping to improve society. This is no surprise given the earlier stats that cited their desire to shop at businesses that are committed to change. Incorporating this belief into your own agenda will help you do more good while also being more attractive to this generation of consumers, a win-win situation for both you and your business.

Millennials are reaching their prime earning years, which means they’ll end up spending more annually than the astronomical 2.45 trillion dollars they spent in 2015. They are the largest, most educated customer base and are looking for brands to connect with. If your customer base doesn’t include many millennials, you may not have many customers in the near future, so start catering to them today.

You can’t expect this all to happen by proxy, as more than 95% of millennials say they want their brands to court them actively. That means that you have to find ways to personalize the customer-company relationship. Use social media to engage with them, analytics software to find out how to tailor your marketing based on their preferences, and emphasize parts of your business that you think will help you connect with them on a deeper level. What’s more, 75% of them are conscious about how they spend their money, thinking about the effects of their purchase. By catering to their socially conscious attitudes, you can alleviate some of their concerns about your business.

 

 

Millennials have the potential to foster great change in this world, and are slowly earning the money to do it. Follow the suggestions in this article to better market to them and grow your business as a result.





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