February 2014 Hot Topic: Marketing to “Millennials”
Everywhere you turn you hear about “Millennials” and how they are so different from previous generations. So who are they and how do you market to this new unique portion of the population? We’ve done all the research and here are some great tips to targeting this demographic in your marketing efforts, no matter what industry you are in.
“Millennials” are comprised of a portion of the population born between 1981 and 2004, and currently tops 92 million with an expected annual spending power of over 2 million dollars in the upcoming years. So why is this generation so different from the past generations and what do you need to do to market to this large segment of the population and get a piece of the pie?
The “Millennials” generation grew up in the technology age world and they are extremely tech savvy and on top of all the newest trends. Not only do they have a deep understanding of technology, but use it through the majority of their days. They use social networks to stay connected; they shop online, read reviews and generally have a strong reliance on word of mouth marketing. They are also extremely socially conscious, doing extensive research into the business practices of companies before making purchasing decision, resulting in this group being extremely choosey when and where they spend money.
So now that you know who they are, what are tips to marketing to this general portion of the popularity? We all know that you need to have an online presence, including a website and social accounts on at least Facebook and Twitter. And for this group it isn’t just about having an online presence, but what you do with it. This generation looks to see how you handle customer feedback and what “rewards” you will offer if they select to spend their money with you. And they will share their feelings through social media and online review sites based on their experience, be it good or bad.
This unique generation places a large value on quality and service, as well as feeling that they should “have it my way,” when they spend money. They are jaded by big promises in advertising and base expectations are that they will get what they pay for… an example is not entering your credit card for a free trial. If it is free why must they give you a credit card number?
In addition to where Millennials spend money, is also where they earn money. They’re turned off by companies that haven’t adopted the needed technologies to communicate efficiently in their highly connected lives. One of the most important technologies a company can have is online scheduling software from WhatTimeDoIWork.com, which offers a 30 day no obligation FREE trial! There’s no hassle to get started and no need to enter a credit card number. Try it out now to see the future of scheduling, a perfect solution for all generations.