4 Tips for Successfully Marketing to Millennials
Marketing to the Millennial Generation, also known as Generation Y, can be lucrative for businesses and brands, but it can also be a challenge. Listed are a few key points about this diverse group of individuals to guide your marketing communication with Millennials.
The Millennial Generation – one of the most diverse and well-educated generations to date – is aging. They are coming of age and are finally responsible for making their own purchasing decisions. Despite the current economic state, this group of young professionals and students has a good bit of dispensable income, and they are happy to spend it. While this is great news for merchants and businesses looking to target this generation, there are a few key characteristics of Millennials that are important to keep in mind when marketing to these individuals.
1. Use non-traditional and guerilla advertising tactics.
Millennials often resist conventional marketing tactics. Creating promotions that are nontraditional and utilizing the latest technology are essential when communicating with this generation. Embracing technology as a fundamental aspect of their existence, this wired generation is constantly checking their Facebook updates and Twitter feeds, whether it be via their smart-phones or laptops. Millennials look for ease and convenience in life, so chances are they won’t be interested in any type of advertising they have to work for. Bringing your brand to them, where they live, work and play, is the best way to make sure it’s remembered among this group.
2. Encourage individuality and social change.
Dubbed as the “Sunshine Generation,” Millennials maintain high levels of optimism and confidence. So what does that mean for marketers? Scare-tactics don’t work with this generation. Millennials have been empowered by their parents to take control of their own destinies, and they firmly believe in themselves. Promotions that encourage social action resonate highly with Millennials, since they want to make a difference.
3. Don’t alienate Millennials’ parents with your message.
Many members of the Millennial Generation value their parents’ opinions. They admit their parents often influence their buying decisions, especially when it comes to major life purchases such as insurance, vehicles and homes. It’s important for high-involvement products and brands to consider this when marketing to Millennials. If marketing messages become too targeted, alienating parents, the audience may be more inclined to purchase the product they deem worthy of their parents’ approval.
4. Communicate your product/brand’s service and value to the customer.
While many claim this generation is not brand loyal, the truth is that Millennials value quality and service. They are price-conscious but willing to spend more for higher quality products. Effectively promoting the service and benefit your product provides to the consumer will guarantee that they remain loyal to your brand no matter your price or the competitors’.
Millennials as consumers are a diverse group. Many have made assumptions about their purchasing habits for years, but research proves them wrong. Communicating in non-traditional ways with optimistic and parent-friendly messages to the world’s most educated and diverse generation to date will ensure short-term growth and longevity.
Feel free to comment. What are some other great ways to reach Millennials? What has worked for you?
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