Millennials are setting trends, changing marketing, and have a social influence that cannot be ignored. There are 80 million millennials in the United States, which accounts for nearly 1/4 of the total population. Millennials are the most important group in terms of workforce and by 2025 they will account for $8 trillion of annual net income.
With this type of dominance, companies are trying to master a new marketing style in order to get a slice of Generation Y. These 18-34 year-olds are technologically savvy, engaging, and very entrepreneurial. Your marketing efforts should have the same characteristics.
1. Be Engaging
Remember, most millennials have never known the world without internet or social media. They are "digital natives" who spend almost 4 hours a day on social media.
With all that time spent online, they are not as quick to react to basic marketing schemes that are trying to get them to do something or click somewhere. They want content that is specifically tailored to them and that peaks their interest. Millennials respond REALLY well to videos, GIFs, memes, and other content ideas. If your company is not using them, it's time to start.
Companies are also using collaboration techniques to try and get millennials involved in their campaigns. Collaboration allows millennials to share their voice in product development and fuel their self expression. Millennials want their voices to be heard, and it's time marketers use that to their advantage.
Millennials want to feel like your company's content has been made with their best interest in mind, not their wallet.
2. Focus On Social Groups Rather Than Life Stages
Millennials view the world differently. They are the most nontraditional generation to date and tend to take on different meanings for life stages. Marketers cannot assume that a millennial will act a certain way in a particular life stage.
Millennials prefer a traveling lifestyle. An office to them is becoming less and less what the baby boomers picture as an office. Out with the desks and in with the open air and coffee shops. They are free spirited and an adult life is not linear for millennials, which means marketers are going to have to adjust accordingly.
So, instead of focusing on life stages, focus on specific social groups or causes. Millennials are a very active generation. They join more causes than other generations and advocate for certain topics and groups. Millennials are much more likely to identify with social groups or causes than they are a specific life stage.
If you appeal to their social group, rather than their life stage, your engagement will increase and so will your curiosity from your target customer.
3. Tap Into Inbound Marketing
Millennials support businesses that are all about improving their customers' lives with information. Whether that's with ebooks, blog posts, downloadables, or anything of value, millennials love companies that can offer them information they want and where they are actively searching for it. That's where inbound marketing comes in.
It's more important now than ever to show millennials that you are an expert in your field, especially since 44% of millennials are more likely to trust experts. Inbound marketing puts your information in front of the millennials that are searching for it. It's your company's job to create awesome content to show millennials you really know your stuff. A millennial is way more likely to read how-to posts or creative content, instead of a cool ad from a company website.
These three tips will give you an advantage when marketing to millennials. They are the most important generation for companies to relate to, and they're also the most difficult consumers to grab. Meet this generation where they are at with inbound marketing.