US Data Corporation Direct Marketing Blog

Understanding Millennials: Marketing Strategy for a New Generation of Consumers7:00 am


By Kristen Dabrio

marketing millennials effective marketing strategy Understanding Millennials: Marketing Strategy for a New Generation of ConsumersAs Millennials are coming of age, some businesses are struggling to make their marketing strategy appeal to them – or worse, don’t see a need to market to them at all. Like it or not, the Millennial generation, or Generation Y, now makes up a huge portion of consumers with purchasing power, and as such, you should be taking them into account as you develop your marketing strategy. Although the exact years that Millennials were born vary between sources, these consumers are generally between the ages of 18-35. Since Millennials make up such a large and important part of our society, there’s a huge chance you’ll have to market to them at one point or another. But how can you do this? What do Millennials want and how can you switch up your marketing strategy to reach them? Read on to learn about the most effective marketing techniques for this generation.

Why are so many businesses overlooking Millennials? Oftentimes, these companies are falling into the pitfall of taking common stereotypes at face value. Millennials are often described as lazy, self-entitled, and unemployed, with no money to spend. Although this stereotype is pervasive, it’s not the whole truth. While it is true that the economy has made it difficult for some Millennials to find full-time jobs, they actually make up a massive portion of the current work force, and many do have solid careers underway and have significant purchasing power. Many of them are getting married, buying homes, and starting families of their own. They are spending, and they are in need of products and services—and most businesses would be foolish not to capitalize on this. Stereotyping this generation will only prevent you from understanding how to reach them and will undoubtedly hurt your overall marketing strategy.

Since Millennials have grown up in a digital world, you might need to revamp your digital marketing strategy in order to reach them. With Millennials constantly attached to their computers, tablets, and smart phones, developing online relationships should be front and center in your marketing strategy. Having a well-developed digital strategy and developing online relationships with your customers is truly important in this day and age.

So, how do you plan your marketing strategy accordingly? Here are a few ways to keep your marketing strategy up-to-date:

Online Review Sites

Clearly, forming a relationship online is important when it comes to Millennials. More than ever, people are doing their own online research about products and services that interest them, and they have constant access to review sites; positive online reviews will do wonders in bolstering your reputation. However, while review sites can drive business, remember that they can also detract from it. If a Millennial has a poor experience with your business, they are much more likely to air their complaints on these review sites. This isn’t something you can simply opt out of; these discussions will take place with or without you.  You can’t control what people say about your company on the internet, but you can control how you deal with customer service. Make sure your customer service is always top-notch and do everything you can to provide a positive experience.

Inbound Marketing and Word-of-Mouth

Millennials are much more likely to interact with brands through word-of-mouth from people they trust. They don’t like being told what to do, what to like, and what to buy through advertising. Rather than pushing your products on them, utilize inbound marketing techniques and let them find you on their own. Inbound marketing works so well with Millennials because it’s a way of pulling your customers to you through thoughtful content, instead of trying to push your product on them. This is where engaging Millennials online comes into play. Social media helps Milliennials discover your business on their own and helps you form a relationship with them. They are also likely to share their discoveries with their friends through their social media sites.

Online Purchases

Since Millennials can easily connect to the internet and access your sites online, make it easy to purchase online as well. Making the option available to pay on-the go will allow Millennials to purchase right away no matter where they are, instead of waiting and possibly forgetting, or purchasing from another company. If you streamline this process and make it easy, you’ll drive in more business. Many people will abandon their purchases if they find the buying process too difficult or complex.

Email Marketing

Email marketing is an important aspect of any marketing strategy targeting Millennials because they usually always have a quick way to access their emails. This is a great way to get your message across and facilitate brand recognition. Email marketing campaigns that include coupons and discounts that pair with a simple online purchasing process will make Millennials more likely to take advantage of your offers.

Trial and Error

There is no such thing as a fail-proof, one-size-fits-all marketing strategy, so don’t be afraid to try new things out as you experiment with marketing to Millennials. Since this generation is so engaged in online activities, utilize those online avenues to solicit feedback from them. This will help you figure out what’s working and what needs to change. Field questions on your social media sites or offer a couple of different promotions to see what Millennials are most responsive to. Trial and error will help you figure out the best ways to sell your products and services and how you can restructure your marketing strategy in the future.

If you haven’t already focused your marketing strategies on relating to Millennials, you should strongly consider doing so. Gone are the days when you could simply proclaim “We’re the Best!” to the world and see new business flood in. Nowadays, you have to have an online presence that supports your marketing messages. Listen to Millennials and follow the trends, and your marketing strategy will become stronger and more effective.

Image Courtesy of freedigitalphotos.net

Search

Newsletter

Sign up for our free mailing list to receive our newsletter, special promotions, and more!

Follow Us

Facebook Twitter LinkedIn Google+ RSS Feed

Like Us on Facebook

Learn More About...

Marketing Strategy

Email Marketing

Direct Mail Marketing

Data Cards

Fun Marketing Facts

Mobile Marketing

Happy Client Highlight

Work Tips

Social Media

Recent Posts

4 Email Marketing Myths Demystified

4 Ways to Integrate Email and Social Media Marketing

Time-Saving Email Templates for Holiday Marketing

Holiday Direct Mail Campaigns: Things to Check Before You Launch

Best 2014 Cyber Monday Email Campaign Tactics

Archives

December 2014

November 2014

October 2014

September 2014

August 2014

July 2014

June 2014

May 2014

April 2014

March 2014

February 2014

January 2014

December 2013

November 2013

October 2013

September 2013

August 2013

July 2013

April 2013

March 2013

February 2013

January 2013

December 2012

November 2012

October 2012

September 2012

August 2012

July 2012

June 2012

May 2012

April 2012

March 2012

February 2012

January 2012

December 2011

November 2011

October 2011

September 2011

August 2011

July 2011

June 2011