Millennials have their own language, the millennial pink, their own outfits and codes, and Humor. They weren't born in the technological era but saw it becoming what it is today. They are currently the largest consumer group with the most purchasing power. Brands need to become familiar with this group and what their marketing and communication preferences are in order to succeed.
Why should companies care about millennials?
Millennials are the largest generation in the world right now, and they will remain a significant portion of the population for a very long time. Their impact on the economy and the retail sector will be significant when they enter their prime spending years, so businesses need to pay special attention to this.
Millennials are poised to redefine the consumer landscape with their distinct characteristics and experiences gained from growing up in the digital age, compelling businesses to reevaluate how they conduct business. Companies will also need to reconsider how they promote to these consumers, who have quite different expectations of brands than earlier generations had. The businesses who manage to do it correctly. Companies that succeed in reaching and engaging this demographic will have a much better chance of gaining market share in the future.
What is a millennial?
A millennial is a person who was born between 1981 and 1996, will be between the ages of 25 and 40 in 2021, and will make up more than 25% of the world's population!
This generation is characterized by a high level of Internet, mobile devices, and social media usage and familiarity. Because of this, millennials are frequently referred to as "digital natives"—young people who were raised in a growing digital world and were constantly exposed to cutting-edge technology.
Accenture estimates that millennials will spend $1.4 trillion on purchases worldwide in 2020. It is not surprising that this generation, which is regarded for having high purchasing power, is spending more money in stores and online than any other generation.
How to speak the language that is Millenial?
Brands that successfully appeal to the millennial audience's values greatly boost their chances of winning them over. Their purchasing habits place importance on memorable experiences and social identity. They want you to make them experience something new and exciting, and they get bored fast.
Try to find ways where you are giving back to the community; millennials are more likely to use their buying power if their values align with yours. This generation loves eco-friendly, environmentally conscious brands. The knowledge that they have about the world is way deeper than before due to the accessibility of the Internet. If you are not telling the truth, they are one click away from doing a bunch of research and finding out the truth. So, connect wisely
At the end of the day, we are all egotistical beings. We like to see ourselves in the content as well. Therefore you should focus more on user-generated content to tell your brand's story. Create a branded hashtag and push them to use it when they post content related to your brand. By them tagging you, it allows you to see it and interact with them. As well as giving you the ability to use that for promotion across different channels. Recognize and be grateful for their support and allow them to add to the conversation and story.
Listen to them really carefully and treat their feedback like gold. Before the digital age, marketers had to conduct surveys to find out what their customers thought. Millennials today enjoy discussing their likes and dislikes and expressing their opinions. All you have to do is gather this information. This concept uses a technique called "social listening," which allows you to figure out why they connect and buy certain products.
4. Respond Fast
Remember that social media's ability to deliver quick satisfaction is one of the reasons Millennials (and everyone else) are so addicted to it. You'll lose your following if you don't align your responses to them in this way. Make sure you have a team of people who are available to answer their questions and concerns. This is so important! If you take your time getting back to them, they will get annoyed and lose interest. By being readily available to them, you show them that you are here for them and that you care.
So, How can you start doing this?
Don't sell products; sell purpose
As a socially conscious generation with great digital skills, millennials are more likely to support firms with a clear mission and identity. Millennials desire more than their parents do, who often merely want to know a product's advantages. They want questions answered like: What is the purpose of your brand? What kind of change are you implementing? Present the fixes, but lead them with your mission. Sometimes they care more about the mission of your company than the actual product!! Yes, I know that's crazy to think about. But, if you have many competitors, who all do practically the same thing as you, what makes you different at the end of the day is your values. In past generations, parents cared more about how much they could save and find the best prices. Millennials, on the other hand, care more about what specific values the brand holds, and that's how they choose between them. See the difference; it's a totally different logic and way of thinking. We need to put ourselves in their shoes and stop thinking like we used to.
Keep it real
More than ever, millennials care that you are being honest and real when trying to market to them. They want full transparency, and if you're caught in a lie, they will post it and make it known. Technology moves things very fast; within a second, your brand could be ruined with just one post! Even telling them you struggle to figure out what exactly they want from you is what they want to hear. They want to know the human behind the brand.
Ideally, millennials want to learn and laugh at the same time. The finest marketing efforts for captivating viewers are those that offer their audience value through entertaining and educational video content. Millennials are most likely to connect with humorous material, with informational content coming in a close second.
Optimize your Social Media
Social media is of utmost importance to them. That is where they spend most of their time. Make sure all your content is optimized for it, and your presence is strong and active. If you have an Instagram, you should be posting almost every day for the best outcome. Reels are exploding on Instagram, and although you might be saying to yourself I will never! You must. It is already proven that showing your face on reels gets more exposure. If you are not comfortable with doing it, then hire somebody who is. This goes for TikTok and Twitter as well. Don't forget to add hashtags to your post. This is crucial in helping millennials find you. In regards to following trends, some won't relate to what you stand for, but that is always the case; just choose the ones that do and go with it. You should have a person on your team constantly keeping track of what's in so they can show you what is possible. Also, as humans, we are visual creatures, so appeal to their sense of sight, and you're on the right track.
Reach out to Influencers
Peer-to-peer communication is what millennials pay attention to, and they look for marketing that has a purpose. Sometimes we don't always know how to speak their language, so bring on influencers who do. Help them get your message across through their trusted platform. People already have a strong relationship with and that the products they are recommending are good and will take their word for it. Influencers advertise products in a really smart way to not make it seem to their followers that they see an ad. If it's done the right way, it will seem more like a close friend recommending a product. It's important for you to take advantage of their relationship and use it to grow your brand awareness. Trust us; It's worth the investment.
When you choose your influencer for your brand, find one from your exact niche and make sure their tone of voice matches what you stand for. If not, the promotion will feel forced, and you and the influencer risk losing credibility. So, choose wisely.
Even when firms avoid influencer marketing, they frequently find that blending their sponsored posts into the user's feed yields the best results. Starbucks recently launched a lucrative Instagram advertising campaign in which it subtly included one of its drinks in an image of a mural. The usage of emojis in the message gave the advertisement a casual, non-corporate vibe. The advertisement might have easily been posted from a personal account.
Connecting to Millenials is not easy, especially if it's foreign to you, because you are not one yourself. If that's the case, hire people that can help you understand them and know their culture, and most importantly, listen to what they have to say and try to tune into their environment. They're not as complicated as you think. We hope that the insights in this blog gave you some good tips and ideas to try in the world that is millennials.