Marketing to Millennials: Understanding Gen-Y
Millennials. Who are they? What do they stand for? How do I connect with them? Some of these questions are simpler to answer than others, but one thing is certain: millennials are a huge potential audience that require a different marketing approach. Millennials were born between ’81 and ’96— this demographic is filled with people starting families as well as recent college graduates embarking on a new journey to adulthood. They’re tech savvy, they’re excited, and heck they have a buying power of over $200 billion. So, here are a few tips on how to advertise to millennials.
They’re not profit-driven
One thing that’s different about this generation is that they connect with causes more than products. If your company takes a stance on an issue, or provides an important service beyond just selling goods, millennials are more likely to trust you and purchase your products. They want to know what separates you from your competitors—the cause that motivates your brand is often more important than the product you’re promoting.
Authentic Content Drives Them
Advertising to millennials centers around authenticity—they don’t respond well to traditional, impersonal ads that are filled with logos. They crave a feeling of camaraderie and trust and, typically, people they know online or in person inspire their purchasing decisions most. That’s why targeted marketing on YouTube and through blogs is so vital.
They Chase the Thrill of the Shopping Experience
Millennials find the experience of browsing and liking products as enticing as the purchase itself. Millennials create more shopping wish lists and use such mediums as Pinterest to create vision boards of desirable products. So, when advertising to millennials, create an enjoyable shopping journey that makes perusing your products just as exciting as the actual purchase!
Use Social Media to Your Advantage
89% of Americans from the ages of 18-29 use social media. In addition, millennials use smartphones more than any other group. This vastly increases the likelihood that they’ll be on social media apps. Social network sites have become invaluable when it comes to building trust with consumers. Forbes documents that millennials are 62% more likely to purchase something from a company they’ve interacted with on social media.
It can seem impossible to know how to advertise to millennials because they’re such a diverse and powerful consumer audience. But if you understand the psychology behind their purchases and motivations, the advertising picture becomes clear. So, whether you’re looking to advertise your wholesale natural foods business or a new ride-sharing app, following the aforementioned tips will lead you toward success.