10 Tips for Millennial Marketing
Focus on mobile, and make sure you have a coupon ready.
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Millennials are one of the most talked about generations in the marketing industry, but are they really different? In 400 BC, Socrates described teens and young adults like this -- "They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs ..." That sounds like any generation of teens and young adults, but millennials are different than earlier generations because they grew up with an unmatched presence of technology in their lives -- and they are one of the most studied generations because of that.
Millennials think differently because they are different -- especially when it comes to online behavior. While some traits are clearly the same among certain age groups over centuries, millennials react differently to trigger points because of the way they grew, full of technology and social media. They connect dots in different ways because some things are intuitive to them that are not intuitive to anyone else. Think Snapchat.
There are two terms that come to mind when thinking of millennials -- marketing and media. Here are a few interesting millennial stats that may help with your millennial marketing campaigns:
1. Millennials are confident the information on mobile and desktop are the same.
Millennials are mobile junkies, and it is fairly obvious that a mobile device is the device of choice for this generation. Other generations use mobile more often than they used to, but they don't trust mobile as much as millennials do. According to Google, 66 percent of millennials are confident that the information they find with mobile devices, such as flight and hotel data, is the same on desktop. Only 43 percent of travelers over the age of 35 feel the same way.
2. Millennials shop and book on mobile.
According to Google, 64 percent of millennials book a hotel stay after searching for a room on their mobile device. The majority of travelers over the age of 35 -- 58 percent -- do not book on mobile.
3. Forget hard selling; start collaborating.
Millennials do not respond to hard selling. They grew up in a culture of sharing, and social media is one of the best tools to show off your brand and get your ads shared. Loyalty cannot be bought, but with the right partners, brands can still make their targeted marketing campaigns succeed. Brands such as L'Oréal, Chanel, Prada and others already understand this and are collaborating with influential bloggers to reach millennials.
4. Social media is your review.
According to Hubspot, 84 percent of consumers research online, and 70 percent read online reviews before buying online. Millennials are no different. They want to know from others that the brand they trust is worth their loyalty. Loyalty is hard to win, but once you get a customer, brands are most successful with an omni-channel strategy in place. One of the most important channels is social media. Leadscon says that around 65 percent of millennials like a company or brand on Facebook and Twitter.
5. Mobile matters.
According to Facebook, 55 percent of millennials use only mobile devices to access their profile or pages, which makes Facebook, and social media overall, one of the most important channels when targeting millennials. This is why online advertising has increased over the years.
Advertising companies have moved their efforts to the digital world in order to reach millennials. While a vast number of the population find online advertising to be credible, only six percent of millennials in the U.S. consider online advertising to be credible. For this reason, marketers need to figure out how to target millennials online. Some marketers have catered to this demographic by creating faster mobile loading times and eye-catching content that fit into every mobile screen.
6. Coupons and discounts are your entry.
Sixty-six percent of millennials follow a company or brand on Twitter, and 64 percent like a company or brand on Facebook with the sole purpose of getting a coupon or discount. Something that millennials have mastered is the way to cut costs in this economically-driven time. That's why this group is most likely to share their location on their mobile devices in order to receive coupons from businesses that are close by. Chances are, if you advertise a sale or give out free shipping coupons, the clientele will follow.
7. Mobile revolution.
More than 85 percent of millennials own a smartphone. This is a generation that was born between 1982 and 2004. The fact that we live in a tech revolution has helped this generation adapt themselves more quickly than others. This is why 84 percent of millennials don't trust traditional advertising. As mentioned before, this group of people doesn't like when they are pushed to a product. It's better to work around it and indirectly advertise. Try to create a post that seems like a native ad, or use brand placement discreetly.
8. Loyal "till the end.
How loyal are millennials? With the assistance of social media, millennials spread the word about specific products or services they love. Millennials are so loyal that in the U.S. that they wield about $1.3 trillion in annual buying power. That's a number that you can't forget. Enforce loyalty by having the option to see consumer opinions on your company's website. Fifty-one percent of millennials say that being able to see consumer opinions have a greater impact on making a purchase decision.
9. Millennial customer service.
Customer service has taken a turn for the better, and social media has proven to be an effective tool for customer service. In fact, 64 percent of millennial consumers believe that social media is one of the most effective channels for reaching brands. Having your organization's customer service online can not only increase loyalty, but it can keep bringing back customers. Sixty-five percent of millennials start interactions with a brand or organization online.
10. Go social.
While different media influencers have proven to be successful, television continues to be the channel that has the most influence over millennials. Television has 70 percent more influence than other advertising channels, but social media comes to a close second, influencing more than 60 percent of millennials. Thirty-two percent of that 60 percent say that social advertising is more credible when influencing their decisions. In other words, if your company or brand doesn't have a social media account, you are missing out on the possibility to engage with millennials.