Is your target audience between the ages of 25 to 40 years old (AKA Millennials)?
If it isn’t, then it definitely should be! Millennials are coming into their prime spending years. A 2020 Consumer Culture Report from 5W Public Relations stated that “millennials are projected to spend 1.4 trillion dollars in 2020” alone.
ONE POINT FOUR TRILLION.
Let that sink in for a second.
Millennials are a key consumer demographic for online marketers, thanks to their tech-savvy nature and eagerness to consume web-based content. They are more likely to use smartphones and tablets over laptops and computers to make online purchases.
Millennials are not just tech-savvy; they’re incredibly resourceful and choose to educate themselves in whatever piques their interest.
It’s FAR easier to market to someone you genuinely understand; knowing how someone grew up or was raised and in what social or cultural conditions, their age, and what point in their life they may be at now is tremendous progress towards that.
In today’s episode, we will go over millennial values and characteristics and how those two things influence consumer behaviour.
The data shows that millennials value:
- The in-store shopping experience (surprise!)
- Companies that align with their personal values
- CEOs who speak out about issues they care about
- Paying more for a product if it is ethical/sustainable or if some of the proceeds go to charity
The data shows the following characteristics of millennials:
- They do a lot of research prior to spending
- They turn to their network of friends and family before making a purchase
- Their purchases are affected by Influencer Marketing
- They are prone to impulse buying if the product is tempting enough
With these values and characteristics in mind, three of the best strategies to implement when marketing to millennials is:
- Social Media Marketing
- Influencer marketing
- Content Marketing.
Brands that have been successful with marketing to millennials in the past and who have accomplished a high level of “purchase success” with this demographic have been able to do so because they knew where to connect with their audience, we’re able to inspire action with copywriting that was authentic and knew how to speak to their core beliefs.
No matter your approach, remember to be engaging, appealing to their values and to optimize your content for mobile.
There is so much more to talk about! Tune in to today’s episode to find out more about how you can leverage Millennial values and characteristics in your marketing and why you MUST MUST MUST target Millennials if you want to grow your business.
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