The tough nut to crack, the mystery and the don’t-let-up generation are the names given to the millennial crowd. Marketers find it a challenge. Reaching this group does promise a financial reward, but making a connection has to be done first. What we see, which is granted to the agency that can allure the millennial, is a market share of 1.8-billion people. This generation is finally operating in the world as professionals and leaders.
The United States expects a population where one-out-of-every-three persons will be a millennial. The financial power of this generation is also growing. Technology and a better access to jobs make spending easier for them. Roughly 600 million in U.S. dollars accounted for their cash flow just a few years ago. They’re expected to hold $1 trillion in spending power by the end of 2019. We know why the millennial is worth it.
The generation is eager to spend, they’re searching for new homes, are getting promoted and aren’t going anywhere. What marketers need now is a code; they need a way of penetrating the younger market. You’re in luck, for there are a few ways to earn their trust.
Consider Going Digital and Using Technology
If it “does it for you,” then you have a good chance of grabbing the attention of most millennials. Digital solutions matter. These buyers know what quality is, for they have had a good jumpstart with tech. The millennials, regardless of what baby boomers might say, are advanced. Their advancement occurred as they were introduced to technology much earlier. Boomers were once kids in awe—regarding what tech would do.
The millennials have, instead, lived with those promised technologies. They have an innate ability in using tech and for imagining where it’ll go. These “life skills” lead the generation to judge new products with a critical eye. Technology will always grab the millennial’s attention, and the value in each product still goes under evaluation. Millennials are also more health conscious then their parents. Substitutes to smoking are now hot technologies among this crowd.
Think Loyalty but in a Peer Setting
The younger generation shows to be more loyal than retailers first expected. What changed the mind of business owners was a change in setting. Millennials are social creatures—but through technology. What the internet made possible with public reviews is still influencing buying decisions. Moving these buyers may call for you to first influence the communities they trust in. Roughly 80 percent of online shoppers look to reviews and commentary before buying.
This is a great opportunity for building a marketing campaign that will rely on loyalty. Bonuses, comp spending and “half offs” are still effective. Using the public, with its eagerness to share posts and to get recognized for it, is how you spread a message. A public group can build attention as others see them rewarded by the loyalty of your programs. Speaking of peers, there’s another industry arising in marketing.
If you haven’t heard of it, it’s called influencer marketing, and, with a strong hold on millennials, positions social leaders where brands once positioned celebrities. Wheaties, for example, continues to use athletes on the cover of its cereal boxes. Influencer marketing takes from the same strategy, which is empowered by the theme of popularity.
With Social Media, You’ll Be Right Where They Are
The influencers, today, however, appear as common people, and this may lead to their greater influence. The idea of celebrity statuses can intimidate the modern consumer. When a brand’s personality is, instead, “an average person,” people can connect being themselves common. Millennials are leading influencer marketing, and this shows no signs of slowing down.
About Al Davidson
Al Davidson founded Strategic Sales & Marketing, Inc. (SSM), where he helps deliver B2B lead generation services and appointment setting solutions for clients around the world. Under Al’s direction SSM has designed and implemented new business development plans for thousands of B2B companies which generated over 7 million new sales leads and millions of dollars to his clients.