If you are new to the business field, the common question people ask is: What or who are millennials?
Millenials is a term used to describes people born between 1980 and 2005 (the new generation). This is a generalised estimate of dates. Basically, millennials are part of the generation that is currently shaping the global economy. With the uncertainty of millennials' spending habits -whether they are savers or spenders- we took a look at current trends to help us better market to millennials.
Technology is the driving force of this generation.
With the majority of millennials owning a smartphone or tablet, this will be the best place to start. Not all businesses are utilising technology to its advantages. You cannot market to millennials using traditional methods as they are constantly connected. Millennials have the mindset of 'Googling' claims/offers before deciding to purchase products.
You must be sure of your facts before advertising and market to these tech-savvy, smart millennials. Due to smartphones and many social media platforms of sharing messages, any claim or promise you make will instantaneously be shared with multiple people. This form of communication could be a blessing or curse depending on how you use it.
Millennials are exposed to the best advice and price thanks to the Internet so ideally, you would want to have a well-organised social media and website. Being organised means that your website needs to be easy to navigate, active with daily updates and promotes your best service or products. Remember, the goal is to get people to visit your store or website as often as possible.
Diversity in the millennial generation is common. When coming up with a marketing plan for millennials, choose a group with similar interest to cater your plan to them. Creating marketing plans to suit the vast diversity of millennials will allow them to resonate with your brand better. Millennials love to feel a sense of belonging and will share what they love with their friends, hence building a bigger audience.
In order to know what to market to millennials, you need to do a lot of research. Especially on current trends. For example, millennials tend to view traditions differently as they see it as just another activity.
They will not spend time on traditional methods if it does not satisfy their current needs. They are not bound by the tradition of working and staying in one place. Remote jobs give a sense of freedom as you can see from the current trend of travelling while you work. This trend opens a great market for travel agencies, tourism and real estate. Many millennials are abroad and renting property short term instead settling down.
Although hard to win over, once you have millennials liking your brand, they become fiercely loyal. Just market using the right strategies and deliver your promises with great customer service, the millennials will come flocking to you and become life-long customers.
About Benjamin :
Benjamin W Fourie is a professional retail manager with 15 years retail experience across six large retail companies. Outside of work, Benjamin is an entrepreneur experienced in buying and selling, marketing, people’s training and motivational public speaking. Benjamin is a proud martial arts instructor and held the position of Chairman for BCMJA Border Judo in 2015. Benjamin enjoys understanding people and was awarded a Diploma in Psychology from Alison Online Study in 2015. Follow his blog @ zenbrick.blogspot.com