Millennials are now one of the largest generations in the world. The youngest millennial will be 22 years old in 2020, which means they have just grown into young adults with defined purchase preferences and spending habits. To market to this generation, it’s essential to understand the values they have grown up with.
Millennials are a generation often burdened with student debt and struggling with the current housing and job market. However, they are conscientious and active spenders. Millennials spend two thirds the amount that other generations did on entertainment. In 2020, they are predicted to spend $1.4 trillion!
It is no wonder many businesses are Marketing to Millenials to gain a competitive edge in their field. In this article, we will be discussing how you can sell to Millenials in 2020.
Be Instantly Accessible
In recent years, Millennials have gotten a bad rep for being impatient, unsatisfied, unfocused, and selfish. But more and more influencers have come to the defence of this generation. In this tech-savvy age where fast-paced is a required edge, speed and convenience aren’t luxuries, they’re now requirements your brand needs to live up to.
Millennials can find the most convenient and accessible products and services thanks to how savvy they are with the technology they have at their fingertips.
As a result, businesses that cannot make themselves instantly available fall behind. To build a brand that millennials can trust, it is crucial to demonstrate accessibility. This means creating an improved effort to respond to comments, feedback, and emails faster than ever before. Instead of seeing this as a burden, consider it a way to gain instant feedback from real-life consumers that know what they want from your brand.
Despite initial perceptions, Millennials are highly conscientious. As a generation, they want to buy products from companies that they believe in. Marketing is no longer only about the product. It is about the story a business can tell about its own processes and mission.
Instead of caring for gimmicks and slogans, Millennials care about brands that are authentic and match their values. Now, taking a political stance is often a must. This is why to market to millennials in 2020, brands need to define their values and beliefs clearly and early on. 60% of millennials are more likely to stay loyal to a brand if they agree with the fundamentals of their messaging.
Your marketing efforts should correlate to these beliefs. Take actions to demonstrate your values to your millennial customers. Dedicating a share of your profits to a charity you believe in, for example, is often valued by this socially aware generation.
Be Instagram Worthy
Millennials have grown up with social media. As a result, these platforms are naturally a part of their daily lives. They often post pictures of the brands they interact with. If you want your millennial customers to act as brand ambassadors and share your products, it’s essential to make your product something post-worthy.
This could mean creating products that would look great in an aesthetic Instagram post. Alternatively, perhaps your products tell their own story or give your customers bragging rights on social media, including Facebook and Twitter.
Markets in all fields have grown increasingly saturated in recent years. As a result, Millennials have seen everything already. Every time they browse for products online, they are met with a sea of nearly identical items.
This is why more and more novelty brands are popping up around the web and are using their unique appeal to market to Millennials. This trend should impact your marketing efforts. Fun, new, and different are just some of the words that should describe a current ad campaign. It is important to be memorable and stand out from the crowd. That is how you gain the attention of Millenial consumers in 2020.
Use Online Content to Your Advantage
83% of Millenials find online content useful in making purchases decisions. They will engage with authentic and valuable content online. Brands should invest in a watertight content marketing strategy that consistently proves relevant to their consumers. This is in part because traditional advertisement has lost some of its effectiveness. 63% of millennials now use an ad-blocker online.
In other words, inbound marketing has become the name of the game. This means that brands should present content, resources, and stories online that make consumers interact with them organically. This can be achieved through activity on social media and valuable video and blog content. All this combined with an authentic message and mission millennials can associate with makes for a brand this generation can engage with.
Are You Prepared to Market to Millenials in 2020?
More than ever, this generation is unleashing its spending potential and influencing the market. Be ready to market to Millenials in 2020 to secure loyalty from this conscientious group. Millennials are tech-savvy, well-researched, and thrifty. For your brand to inspire loyalty from this generation, it will have to market itself authentically via social media channels and present a strong content marketing strategy.
ZAK agency is an agile, creative agency that can help you prepare such a strategy. We pride ourselves in our intimate knowledge of Millenials through our global network of consumers. Get in touch today to hear how ZAK could help your brand market to Millenials.