So, why millennials?
As the largest living population in the United States, millennials are projected to make serious changes to the economy.
And as the youngest millennials turn 22 in 2020 (just slightly younger than us), it’s becoming increasingly important to pay attention to their spending habits, and create content that will attract and engage millennials.
While every new generation develops new spending habits, millennials are unique because they’re among some of the first generations to spend most of their lives online. This drastic shift in our way of life has proven to heavily influence how millennials make purchase decisions.
Millennials have garnered mixed reviews throughout the years (haven’t we all) but, despite this, they have incredible spending power.
Together, millennials spend $600 billion annually in the United States. As they grow older they are expected to accrue more wealth, only adding to their ability to make purchase decisions.
In fact, millennials are projected to increase their spending to 1.4 trillion annually which would amount to roughly 30 percent of total retail sales.
The numbers are nothing to sneeze at and developing tactics that can grab their attention, get them to purchase, and keep them engaged is going to make a huge difference in profits in the long run.
So now that we’ve hammered in why millennials are so important to your business, let’s take a look at how to attract and engage millennials:
- Develop A Content Marketing Strategy
Traditional marketing isn’t going to work with millennials.
The days of perfectly timed commercials slots are becoming a thing of the past.
A growing number of millennials have “cut the cord” when consuming entertainment content, opting for streaming services that are void of standard commercials.
Intuitive brands have taken note, and have developed content that targets their given audience without interrupting the experience.
Content that is designed around your company’s mission statement or theme without blatantly promoting your service or product is going to win big for a millennial audience.
On the other side of the spectrum, millennials seek information-based content as well especially before making a purchase.
It has been reported that 47% of buyers viewed three to five pieces of content before engaging with a sales rep.
Utilize Social Networks
Being a technologically savvy generation, millennials are constantly on social media. Taking the time to develop a strong social media marketing strategy will help you to connect with your millennial buyer.
The use of micro-influencers is becoming an emerging tactic in this space, as they have a closer relationship with their audience and can produce stronger results.
In fact, micro-influencers are responsible for the majority of successful influencer marketing campaigns.
What’s more, 78% of customers have a firm belief that social media is the future of customer service.
Millennials are more likely to take to social media to make inquiries about a purchase, and they are more likely to lose interest if they are not responded to within an hour.
They are also more likely to post positive and negative reviews via social media. A massive 47% use social media to report negative experiences with companies, so a thoughtful social strategy will also include a customer response and engagement strategy within the larger plan.
Create User-Generated Content
If you’re really looking to increase engagement, curating user-generated content is a definite way to pique the interest of millennials.
There are a variety of ways that you can use this content, like sharing posts that your company is tagged in or sharing your favorite answers to questions you post.
However you do it, user-generated content allows the audience to interact with your company in ways that millennials respond well to.
What’s more, 84% of millennials say user-generated content from strangers has at least some influence on what they buy.
Even more shocking, 69% of the top three photos shared by brands on Instagram originated from fans.
Connect With Millennials On Their Values
Millennials care about social issues and it informs their purchasing decisions. They are more likely to avoid purchasing from a brand that does not align with their values.
Even further, an astonishing 50% of millennials are more willing to make a purchase from a company if that purchase supports a cause.
Partnerships with organizations that support social causes are also extremely effective.
A reported 90% of millennials are likely to switch from one brand to another if the second supports a cause—even if cost and quality of the two are the same.
Appeal to Visual Buyers
Millennials demand content that looks good. Images, online experiences, and the overall feel of a website's presence needs to be optimized across devices in order to reflect well on the brand.
The more aesthetically pleasing your branding is, the better your chances are on engaging millennials.
Not only that, using visual cues in your content is a winning strategy for millennials. When used properly they are more likely to remember the information you share.
If a relevant image is paired with information, people retain about 65% of that information 3 days later!
Engage With Video
Video is the powerhouse of marketing content. When compared to other forms of content like blog posts or podcasts, video outperforms them all.
You’d be hard pressed to find anything else that can establish yourself as an authority, increase engagement, increase sales, and increase brand awareness the way video can.
And video is proving to be one of the best ways to attract and engage millennials. Take a look at these findings from brightcove:
29% of millennials reported that they find video more memorable than other forms of content
While 46% reported that they prefer video content to other forms of brand and marketing content
And an impressive 66% said they have engaged with a brand after watching video on social media
Using video content is almost becoming a requirement if you want to create meaningful connections with your audience, especially millennials.
Engage Millennials Key Takeaways:
It’s time to start thinking seriously about how to connect with millennials. They’re the next generation in line to change our economy significantly, that’s not a train you want to miss. ‘Cause it’s going to be one of those really fancy trains with all the bells and whistles.
Traditional marketing, radio and tv commercials, are not going to work with millennials. Millennials seek information-based, engaging content before making a purchase.
Engaging content that:
- Creates an open relationship (social media)
- Establishes social trust (user-generated)
- Shares audience values
- Visually appealing (Video marketing)
Check out how Lemonade Insurance got millennials excited about something as old-school as renters insurance. Capturing 1.5 million views and building a sense of trust authentically.