Millennials – The most tech-savvy and media-connected generation of all, and yet, also the generation which demands the most attention and dedication when it comes to creating relevant content. Millennials are born digital natives, constantly adopting new platforms and have taken the lead in the technological era. This means even big-name brands are having to work harder and get more strategic, to connect with them.
In 2016, Accenture estimated that millennials were spending $600 billion a year and, according to RetailLeader.com, this spending power is only increasing. In fact, RetailLeader.com estimates that they will spend $10 trillion in their lifetimes. As one of the largest generations in history, millennials are transforming the economy and the way we buy and sell. In other words, they are an emerging market that you need to capitalize on to be successful.
So, just how do you do that? Here are a few tips and tricks.
First, what is a millennial?
Born between 1980-2000, Google defines a millennial as “a person reaching young adulthood in the early 21st century”. Keep in mind, millennials have grown up in a time of rapid change with substantial technological advancements, making them arguably the most digitally-savvy generation to date.
How do we market to them?
Here are our top four tips:
- It’s all about them: Research by Crowdtap shows that millennials are constantly connected, and that they are engaged in some sort of media for approximately 17.8 hours a day. As digital natives, they are constantly exposed to various ads, campaigns and messaging. How do you grab them? You relate to them, and develop content specifically with their attitudes, needs and wants in mind. Trends suggest marketing to millennials can be most effective when using emotion and visually-stimulating content that can alter their mood and prompt them to share. In other words, content marketing is key.
- Content Marketing WORKS: A ‘one size fits all’ approach will not work. As mentioned above, content marketing, or developing strategic and relevant content for a specific audience, works. Content marketing focuses on the ‘individual experience’ rather than merely selling a product, service or brand. Learn more about content marketing here. [link to our content marketing blog]
- Mobile Marketing is key:com reports that 85% of millennials own a smartphone, and BazaarVoice found that 73% reported to have made purchases directly on their smartphones. That stat speaks for itself.
- They are brand loyal: Brand loyalty is simply one of the reasons why investing into a great, authentic brand is important along with making an effort to develop a memorable, positive reputation in the digital sphere. RetailLeader.com found that millennials often form intense brand loyalty, with 70% claiming they come back to brands they prefer. Still even more staggering a statistic is that 84% of them indicate user-generated content, or other millennials’ opinions, have some influence on what they buy, your brand is more important than ever.
What brands are doing it right?
Without question, Starbucks, has it right when marketing to millennials. Fortune magazine found that consumers aged 18-24 accounted for 40% of the firm’s overall sales. As Jeff Fromm from Millennial Marketing asserts, the phrase “let’s go get a coffee” almost always results in said coffee being shared by said millennial through various social media platforms.
So, what are they doing to attract such devotion? Other than starting a rewards program to reward those repeat millennial customers for their brand loyalty, Starbucks put a major emphasis on digital content marketing, sharing relevant content in an open environment, and inviting conversation and two-way communication. Starbucks’ main Instagram account has more than 14.8 million followers alone.
Dove (Real Beauty Campaign)
With it’s Real Beauty Campaign, Dove champions the idea of healthy body image to a variety of audiences; however, millennials are eating it up. A stunning campaign with a positive message, Dove has capitalized on major trends to attract their audience. These include partnering with Snapchat to “filter out negativity and promote positive body image” as well as boosted social posts, a targeted digital strategy and emotion-evoking videos, photos and content. MediaInCanada.com found that Dove’s Snapchat partnership proved extremely effective, and made more than 1.7 million impressions through messages and stories in the first day. Go, Dove!