For every marketing enthusiast or someone who has been in the industry for quite some time, you must have been privy to this new information. Every marketer is obsessed with the millennials, and there should be a data-driven reason why such a customer base is so in demand.
In this excerpt below, we will discuss some of the trendiest reasons millennials are ruling the customer choice now. Other than the fact that GenY is slowly inching towards being the highest percentage of buyers for the market, there are lucrative reasons why you should be targeting them.
It is not just the new entrepreneurs who are venturing into this marketing strategy, but also the traditional marketers like Adrian Cheng, who is handling a business of 50 years, following this trend’s footsteps.
Marketers Being Obsessed With Millennials
Here are the four main reasons behind the obsession, and why you should be jumping on the Millennial bandwagon as well.
1. They Have Money To Spend
They are either in their late twenties or early thirties. By this time, very few are just in the starting stage of their career. Most of them have found their path to settle, and the experience in their 20s is letting the GenY earn well.
So, they have money to experiment with different products. This is the crowd who are venturing into new things every day. A new skin-care regime because anti-aging has to start. New adventures to look into before some of them start thinking about expanding videos.
However, they are all for boycotting the toxic exploitation of companies with fabricated advertisements. So, even if you target them because they are most likely to buy it, you have to sell it right.
2. They Are Not Brand Loyal Yet
One could take this as a bad thing or a good thing. You might think their lack of loyalty will make them a less lucrative idea. However, you can play them to your benefit. The experimentation stage prevents them from settling on one product.
They are always on the surge of something better. Millennials are curious and can make quick decisions if they are not satisfied. So, as long as they can showcase the products that might be better than what they are using right now.
3. They Will Be Brand Loyal In The Future
Upon reading the last point, many might feel a little discouraged. What if they switch to a new product once bored with yours? There is a solution to that, probably the biggest reason why everyone wants Millennials to pick their brand.
They might not be loyal right now, but soon they will be. When they are much settled in their life and do not wish to experiment anymore, it is the good products they will be loyal towards.
This is why this is your time to make a good first impression. It is not just the product; you can impress them with but also your company’s vision and how they are helping their company.
4. They Are Diverse
Millennials might have the same age group, but that is the only similarity in this group. In reality, you are getting a diverse target audience from whom you can sell an a-z of products and services. They are all turning into independent individuals with their own thoughts and opinions. This is why you will find similarities and differences.
So, if you are able to incorporate a well-valued emotional quotient in your company’s mission, then getting the millennials on board will be easier.
How To Gain Their Attention?
Here are the key pointers to remember when you are selling anything to the millennial crowd.
- Concentrate more on inbound marketing. Since they do not like generic advertisements. A personalized message based on their previous buy or interest is more likely to catch their attention.
- They don’t mind a few push notifications but do not go overboard. They don’t like to be pushed too much regarding anything they show the least interest in.
- Practice more social media marketing, create youtube videos, and show influences trying the product since they are more about seeing reviews than ads.
- Don’t just sell the product; sell your company.