Image by Анастасия Гепп from Pixabay
With more than $1 trillion in marketplace potential, the Millennial generation is American history’s largest.
Even for Millennial-owned businesses, it isn’t always easy to understand how to market to the generation.
If you develop the right strategies, you’ll win and attract them now and forever.
Opinions vary, but Millennials are generally considered to be anyone born between 1980 and 1995 or so.
Millennials vs. Baby Boomers
Millennials are, of course, tech-savvy and cost-conscious but unlike Baby Boomers they are more impulsive.
Also, Millennials typically have higher unemployment rates with mega student-debt and earn less money.
Now, otherwise enjoying a strong economy, they essentially matured during the Great Recession. Nonetheless, it’s important to understand their unique attributes.
As the Internet generation, Millennial consumers shop brick-and-mortar stores after examining their online presence largely via smartphones.
They demand fast convenience on the Internet, engage heavily on social media and apps – all of which sets a high bar for your physical location. Consistency is vital. So, you must be strong in both environments.
Savvy businesses use data analytics for insights into Millennial preferences and spending habits to create branding messages and positive lifetime customer experiences.
Here’s more on How to Structure Loyalty Programs for Millennials from Suncoast Identification Solutions:
From the Coach’s Corner, to attract Millennial customers, it will help you to attract them as employees. See the 12 ideal perks for recruiting top Millennials.
Plus, here are other relevant sources of information:
Ecommerce – How to Improve Conversion of Mobile Shoppers – To convert your mobile visitors to customers, you must understand their mindsets. You see, mobile shoppers have different goals and obstacles than desktop users.
8 Strategies to Enhance Your Customer Service Image –Poor customer service is a salient reason why consumers aren’t loyal to businesses. True, today’s consumers are very demanding. It’s worth noting they’re demanding because they constantly encounter poor customer service.
How Financial Service Firms Can Easier Attract Millennials – Attracting younger-demographic customers can be daunting for financial services. For long-term sustainability, financial planners need to increase their efforts to attract a younger crowd – Millennials.
“Millennials want brands with a story, something they can relate to. They want a personal brand they can put a face to.”
-Bobby Berk
__________
