Millennials form a large cohort of the modern population; born between 1980 and 2000, millennials make up around 30% of the population. Because they are the generation on the edge of the technological revolution, they provide new challenges to small business owners when it comes to marketing. The challenge has become how to formulate brand image, marketing strategies, and business climate to most effectively reach this powerful group of spenders. Here are some key methods to ensure your business is ready for millennial consumption.
Work for a cause
Some of the most successful companies among millennials are those that work with a cause in mind. They either serve to generate funds for donation to non-profits or work towards raising awareness about certain issues. They prefer companies that focus on doing good for the world rather than emphasizing profit and success. Make sure your company speaks up when world issues are prevalent; one of the best ways to market to millennials is to be proactive in the world. Tell potential customers about why you run your business, rather than focusing on you product.
“Millennials love companies that provide something new and fresh to the market.”
Work with innovation and convenience in mind
Among the most important trends of successful millennial-driven companies is that of innovation and convenience. Millennials love companies that provide something new and fresh to the market, especially ones that also make their lives easier. Companies like Uber, Postmates, and Amazon have all utilized this target to become wildly important in the lives of millennials. It is important that your product is new and blends with the millennial culture.
Work as people
Many large corporations have countless executives and board members that the public never even see; millennials prefer businesses that can put a face to their product. When they feel that a company is transparent in its actions and ownership, millennials will be more drawn to the business and what it has to offer.
“Tools like live chat and social media interaction allow customers to be directly connected with a company.”
Additionally, millennials prefer to be treated as important people when they interact with a business; they don’t want to feel that they are just a number on a list. Tools like live chat and social media interaction allow customers to be directly connected with a company without going through a call centre robot or waiting days for an email. Acting as people and treating customers as people is crucial in success when marketing to millennials.
If you are unsure about how to market to the newest generation of spenders, reach out to a professional marketing consultant who can show you all the best ways to reach your target audience.