Who are the Millennials?
According to different researchers, Millennials are the generation that was born between the years 1980 and 2000. This generation today represents about 25% of the total population in the United States, 22% in Canada, 35% in Mexico and 30% of the total population in Chile and other Latin American countries. They are considered Digital Natives, because few remember or know a world without the Internet.
The Millennials generation is also sometimes also called the Peter Pan generation. Many of them postpone having a family until they’re past 30 years old. Several choose living with their parents over living independently, allowing them greater purchasing power than their predecessors.
Young people today are optimistic, they are informed about the topics of their interest, although they may or may not follow current events, they accept diversity, they are tolerant, and less committed to their jobs. In fact, often it may be difficult to motivate and retain them. For them, free time is important. Therefore, it is common for them to look for flexible employment options or renounce stable jobs for new experiences such as travel and learning. They can be very fond of brands and influencers play a major role in their lives. In their homes and in their jobs they are strong influencers in any decision making process.
How to Communicate with Millennials?
To engage with these Millennials you must be where they are. A study conducted by Google's Consumer Barometer gives us important guidelines on how to communicate with them.
As a result of this research, we can say that young people do not come online, they live online:
- 90% connect online every day.
- 75% stay connected via their smartphone and computers.
- 55% use the internet to search for information on products and / or services.
- 20% consider YouTube more interesting than TV
- 50% interact with their friends on a daily basis through social networks.
- 1 out of 10 stayed informed about new products through advertising.
How do Millennials Buy?
Millennials are not usually impulsive buyers, they try to buy in an "intelligent and informed" way. They want to know. They are multi-device users and start looking for information on their smartphones. Their initial search is usually generic and not brand-focused, resulting in the selection of local and / or multinational companies.
In order to validate the different options, they look for authenticity in the information. The opinion of their friends, the influencers that follow, the social networks and the online testimonies, is more important for them than the information they get through advertisements.
They are not regular readers of newspapers or magazines, but they are strong consumers of visual content, especially videos.
How Will Your Digital Marketing Plan Attract Millennials?
First and foremost, you must be online and your web presence must be mobile friendly. In addition, here are some simple tips that you should follow:
Develop a good website
The center of any digital strategy should be your website where you communicate your unique value proposal. You should highlight whatever makes stand out as different from your competitors and why they should choose you over them. A well-developed website will allow you to connect with your target audience in an effective way.
Participate in Social Networks
Social networks are the new word of mouth in today’s world. Millennials like to create and maintain relationships socially, especially those in which their opinion is considered. This is why your brand must be present on social networks. Create instances of conversation and deliver content that is attractive to your target market. Highlight content that invites them to interact and share, asks for opinions, and, in particular, asks for testimonials, and conduct surveys. You’ll be surprised to see that Millennials like to participate and be considered. Do not stop answering questions that they ask. In this way you will create solid relationships with your followers. What social networks should you choose? It will depend on the product or service that you offer. A brief guide to help you in this can be found in this post, "Social Networks, Why use them in business?" Please note that this information is available only in Spanish.
Create Video Content
In general, Millennials prefer to view rather than read. According to data from the agency, Pixability, the natives of this generation record more than 1,500 million daily visits to video platforms. 40% of Millennials watch videos of subjects they are passionate about, 68% recognize that they usually watch videos with information about products before purchasing them. Most people in this generation are used to having to look for information themselves since they grew up with both parents working. Therefore, they greatly appreciates tutorial videos, especially the "do-it-yourself" ones. Live videos such as Facebook's streaming are gaining more followers with every passing day. Recently, Facebook reported that these videos generate a greater commitment, with approximately 10 times more comments due to the connection in real time between users.
Implement loyalty programs and special discounts
Remember that Millennials like to feel part of a community and receive personalized attention. They become loyal customers when they perceive value in what they received and qualify as a positive shopping experience. This value does not only come from the product or service they’ve purchased, it could also be the value of other factors like content or free information, or incentives for their loyalty. They love the coupons or any personalized promotions that you can give them. Companies like Groupon and several other loyalty programs have seen tremendous success.
This generation is becoming increasingly relevant to all businesses. Not only is their participation within companies growing, but above all their power to influence and decide on purchases and enjoy an increasing purchasing power is growing in a parallel way. Their way of looking for information is online, for them their smartphone is an extension of their selves, and Google is their friend. They actively use social networks and prefer video content. They like to be informed, they participate actively and engage in discussions, and they love discounts and loyalty programs. For them the opinion of their friends and influencers is valuable. They can believe more in reviews than in advertising. There is no doubt that Millennials are changing the way both B2B and B2C companies are looking at their marketing plans. If you want to be successful you should consider this group and their needs since their purchasing and decision-making power continue to grow.
Do you want our help in developing a marketing plan to attract the millennial generation? If you do, get in touch with us and we can chat.