If you are not reaching out to the millennial audience, now is the time. Here is what you need to know about Millennials so you can tap into this group with huge buying power:
They Shop Digitally
Millennials shop online more than any other consumer group. Most report they prefer online buying to shopping in a brick and mortar store. According to a survey by Accenture, Millennial shoppers spend an estimated $600 billion each year, and by 2020 that amount is expected to grow to $1.4 trillion, or 30% of total retail sales. If you are not selling online, you are not making content with large swathes of your millennial audience.
Social Media is a Great Way to Build a Following with Millennials
It is no secret Millennials have embraced social media. There are stats on which platforms are favored and which are falling out of favor, but the bottom line is you need to be on social media: it is where Millennials are hanging out. Facebook, Twitter, Instagram, and Snapchat are all widely popular, but it is also important to keep tabs on up and coming platforms. And make sure you know the latest features available on the old standbys.
Millennials are not Fond of Pushy Sales Tactics
Millennial audiences tend to trust indirect sales messages more than they do old-fashioned sales techniques. They view them as pushy and it turns them off. As a matter of fact, according to the recent Launch Leap Internet survey of Millennials, 59% watch YouTube ads only until they can skip them, and 11% have an ad blocker. In other words, nearly three quarters of respondents don’t watch ads that marketers have spent millions of dollars to create!
The secret to marketing to Millennials is to be subtle and indirect. It is possible to reach them with a sales message and even get them to act, but you need to go about it in a new way. Reviews and referrals are extremely effective for this purpose.
Content marketing is also a great option because you are adding value to the Millennials life. By providing them with information and solving their problems, they gradually trust you and are willing to work with you in the future.
What’s the bottom line? Millennial are a unique audience with their own tastes and preferences. In order to attract customers from this generation and grow your business into the future, you need to offer valuable content and make the most of the features available on social media.
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