They’re in their 30s and 40s, the biggest spenders in the world right now, and there’s no better time to invest in a millennial marketing strategy than the present.
Millennials, or Gen Y, are individuals born between 1981 and 1996. Often stereotyped and misunderstood for several habits that do not conform with other generations, this astute demographic has proven to be the most agile and adaptable.
With a spending capacity expected to reach an estimated $8.3 trillion by 2025, millennials are the choicest customers for brands to target. Here, we will explore specially created brand marketing strategies for this exciting generation.
7 millennial marketing strategies to attract their attention
With such a massive spread across the globe and an incredible appetite to spend online, executing a sound millennial marketing strategy could reap benefits for your brand. As a demographic that values the opinions of others, they can prove to be advocates for your brand.
Here are seven strategies backed by insights and examples.
1. Create authentic content
You cannot bluff a generation that has seen it all come to life — from the humble 8-bit gaming to an 8K-game, from the cumbersome cassette to music stored on the Cloud.
Authenticity is an important factor in driving the purchase decisions of millennials. For this, you need to understand your customers and devise honest, transparent, and critical representations of your products in marketing. They know celebrities get paid to sell products they would never use in real life.
Gillette’s Kiss and Tell campaign is an example of this. Through a survey, the male grooming brand reached out to women and made a case to men about how important it is to keep their facial hair in good shape.
2. Prioritize social media marketing
Social media must be a two-way connection between brands and customers (well, that’s how millennials view it). You can build genuine relationships with prospective customers by deploying social media branding and strategies in your millennial marketing.
Few brands ace this game as well as Netflix does. The streaming platform not only listens to the pulse of the generation, but their social handles are also responsive, empathetic, and famously humorous.
They also conduct social listening studies to understand the needs of the audience and adapt their platform and communication to match the demands of their social media followers.
3. Connect and engage with them organically
As we have established by now, millennials are discerning customers and get ticked off by anything that seems even remotely fake or staged. Classical outbound marketing like print ads, energetic radio ads, and the like is not easily believable. Millennials turn to co-created content on YouTube, forums, and blogs to do their research.
It is good to reach out to millennials on these platforms. You can create conversations that can turn into conversions. Revlon creates genuine value in the form of its online content.
Through their ‘Tips and Tricks’ channel on YouTube, the brand enjoys genuine conversations in the comments section, while users benefit from incredible ideas.
4. Market with intention rather than promotion
When your target audience is a millennial, you may have to connect with them at a more intimate level. This connection is only possible when you market with good intention and deliver something that the customer wants rather than just selling more units of your product.
TOMS, a renowned shoe brand, inspired millennials through a heartwarming campaign. Black Mycoskie, the founder of TOMS, has pledged that every time a pair of TOMS shoes is sold, the company will donate one pair to someone in need.
Intent needn’t be only towards a social cause. It can also be demonstrated by creating a memorable customer experience that improves the customer’s life in some way. One way to express intent is to become a purposeful brand that lives its credo in every way.
5. Partake in collaborations
If your brand is too distant from millennial conversations, then you can collaborate with creators and other brands that relate well to them. Trust is an important asset that millennials invest in the brands they consume. If another brand has managed to do this, then you can piggyback on their equity and give the audience a demonstration of the value you offer.
Uber set a great example of millennial marketing when they tied up with Paramount Pictures for the ‘Transformers: Age of Extinction’ promotional campaign. Since the movie franchise already had strong equity with the audience, Uber mobilized several Optimus Prime trucks in 2014.
6. Push convenience
Millennials invest a high amount of time on mobile platforms. It is best to create a purchase ecosystem that suits these platforms.
E-commerce sites are a great example of this, as they continuously evolve and improve their categorization of products based on different parameters. You can simplify product selection, speed up checkouts, target users with age-appropriate and interest-appropriate ads, and more. Adding an SMS marketing service is an excellent opportunity for eCommerce companies to increase conversion rates and drive more sales.
7. Offer experimental and hands-on experiences
About one in every three millennials has tried virtual reality. Nearly 33% of them use ad-blockers. These stats indicate that reaching this discerning audience is not as easy as some may think.
Recently, Samsung demonstrated this bold take by creating a simulation of their platform on Apple devices. Scan the code above to see what we mean!
Millennials are hands-on folk, a trait that can be advantageous for you. Get them to try your product for real. If they need to change a habit to use your product, a demonstration or an immersive experience will do the trick.
Gen Y understood: The 7 defining qualities of millennials
As one of the most successful generations (66% of them are employed), millennials show endearing traits to brands and employers.
Here are some of the widely accepted psychographic characteristics of the generation.
- They are impressionable and tend to believe what experts say online
- Many of them started working at a young age
- They seek and appreciate instant gratification
- New trends and responsible lifestyles tend to attract millennials
- They are ready to experiment with something as long as it offers value
- They are active in social media and love contributing their thoughts to it
- They love experiences and an emotional connection when they shop
Benefits to gain in exploring millennial marketing
Here are some startling facts and figures about millennials that prove why they are the dominant audience for most brands.
- 50% of the global workforce are millennials
- 15% of millennials still live with their parents, which makes them influencers and advocates for Gen Z too
- On average, millennials check their smartphones 150 times a day. 98% of them own a smart device
- 73% of millennials use their smartphones to purchase online
- 90% of millennials signed up on Facebook
- 79% believe that advertising is essential for every brand
Frequently asked questions: 5 popular FAQs about millennial marketing
What are some commonly asked questions about millennial marketing? Get your questions answered with these five FAQs.
1. What are millennials in marketing?
Because of their technological savvy and capacity to consume web-based information, millennials are an important customer group for internet marketers. Furthermore, when compared to Gen X and baby boomers, they are more likely to spend money on products and services.
2. What kind of advertising do millennials like?
Funny and informative content.
Marketing efforts that deliver value to their audience through entertaining and educational video content have the best chance of engaging their viewers. The most likely to connect with millennials is humorous material, followed by instructive content.
3. Why marketing to millennials is difficult?
Millennials do not trust as much as other generations do. They are highly prudent and do not subscribe to taking illogical risks or trusting unfavorable personas.
Since it comes from actual users of the items, the information from those close to them feels more genuine and pertinent. Millennials are more likely to believe a stranger who is an authority on a product than they are to believe regular advertising.
4. Why are millennials a good target market?
Before making a purchase decision, many millennials conduct online research, test things in person, and look for frank reviews. While many millennials are currently underemployed and struggling with student loan debt, they are expected to become wealthier in the future and constitute a significant market for both advertisers and consumer goods companies.
5. What is the ‘millennial mindset’?
The "millennial mindset" is a method of thinking that incorporates social awareness into all parts of life. Millennials are concerned with where businesses spend their money and how they contribute to society.
Millennials care about global issues like climate change, animal extinction, etc. They want to become involved and find their purpose by being inspired by the change they wish to create. Millennials aren't happy with tangible items themselves.
Summing it up
Millennials are rich, spendthrift, smart, experimental, and loyal customers. Millennial marketing is one of the best strategies to be adopted by any new and upcoming brand.
These strategies will endear your brand to this target audience and help it become more authentic to the larger market. Because if you can appease the biggest buyers in the world, you can win over anyone.