Marketing to Millennials - Chicks in Business

Who are millennials?

At what age do “millennials” start and end? As of 2022, a millennial is someone between the ages of 26 and 41. Members of the Millennial generation were given their moniker due to the fact that many individuals in the generation were reaching adulthood at the start of the new millennium.

The tremendously large post-war birth rate increase occurred between 1946 and 1964. Individuals born between 1981 and 1996, who come from the baby boom generation, constitute the Millennial generation.

Advertising to millennials 101: top tips

1. Prioritize mobile-first marketing

Millennials born close to the beginning of the 2000s were just reaching adulthood when the millennium began, and they were still in their early years when the first smartphones were announced in the late 2000s. Thus, they are the initial adults who have grown accustomed to the current mobile-oriented means of going through life.

The regular millennial utilizes a smartphone for an average of 211 minutes every day, in comparison to only 31 minutes of desktop usage, even though many millennials own a desktop. An effective marketing endeavor aimed at targeting a millennial audience should begin by recognizing their cultural context.

But the term “smartphone” is vague. What types of applications and websites are popular among young adults who use mobile devices? We’ll go into detail about the figures later, but for now, the information is available on Facebook, Instagram, Twitter, YouTube, Pinterest, TikTok, and Snapchat.

In summary, millennials will pay attention to advertising campaigns if they are in appropriate locations. Young adults are twice as apt to hear a video advertisement on their mobile phone than on the TV. People who are exposed to the videos are almost twice as likely to take action in response to the advertisement. Why? People who are using their cell phones while shopping are typically more engaged in the process, such as looking up information about a particular item.

2. Remember that brand values matter

It is important to bear in mind that millennials are a group of people with strong convictions when you are figuring out how to advertise to them. Research showed that a large majority (83%) of people from the millennial generation are concerned about whether a company is in line with their own individual values.

Millennials, who may have been shocked and surprised by the 2008 financial crisis, understand that it is not a good idea to spend without thought. They need to trust that the money they have earned is going to be used on a valuable brand. It could be the explanation as to why millennials think of themselves as being more aware of brands as opposed to Generation Z, which is the age group following millennials.

Approximately 70% of millennials are conscious of a brand when buying something, which is higher than the normal ratio of 50% among all American adults. Brands now need to be aware of not only their representation but also the ability to craft messaging that will appeal to the younger generation of millennials. Although the branding message regarding sustainability and environmental impact may not be as effective with baby boomers who see the YouTube ad, one can assume it will be received well by millennials.

Obviously, not all companies easily lend themselves to advertising about sustainability and environmental impact. You may want to consider the other brand values that resonate with millennials, including:

Health and wellness
Transparency
Authenticity
Customer support
The unboxing experience

3. Prioritize experiences over entertainment

“Have you ever heard the typical saying of millennials online that something didn’t occur unless there’s proof in the form of a picture?” It’s not a coincidence. Millennials place great importance on having experiences, more so than any other generation.

The 2008 financial crisis not only had an effect on the millennial generation’s outlook when it comes to money but it is reflective of the fact that a lot of them tend to favor experiences more so than acquiring possessions. A majority of millennials are setting aside money to go on a journey, particularly because they want to explore new locations. Gaining knowledge of this essential concept is the key to comprehending how to advertise to millennials.

However, it is not only thrift and moderation that are causing these waves. It is thought that millennials may be the initial group of customers who prioritize sharing digital material. Blake Morgan, a customer experience futurist, wrote an article for Forbes that stated that nowadays people would rather form an Instagram-able memory instead of getting the trendiest product.

4. Be authentic

Millennials often seem drawn to brands that exhibit sincerity and genuineness. What is it that draws millennials to buy from you due to its authenticity? Why do they take the time to do it?

For starters, authenticity works with every age group. It turns out that surveys show that millennials view it as a more significant priority than Baby Boomers and Gen X. Millennials prefer to have control over their own choices. They will joyfully click on a Facebook advertisement if they identify that it is in line with their beliefs. But when companies attempt to join the popular culture in a manner that does not reflect their main beliefs, millennials with knowledge of advertisements can tell that it is not genuine.

What does authenticity look like in practice? To start with, authenticity is rare. The same source shows that the majority of consumers think that less than half of brands are really genuine. However, there are several other methods to instill an air of genuineness in the minds of those born in the millennial generation.

User-generated content: 60% of consumers rated user-generated content as the most authentic. Today’s mobile-friendly audience constantly seeks out the word of mouth and online reviews to conduct product research. It follows that any brand willing to put user-generated content like reviews out front is the brand striving to be authentic.
Social media: Millennials like to share their triumphs and their frustrations with the public. That’s why it’s sketchy to them when a brand doesn’t maintain a social media presence or actively respond to customer complaints online. To millennials, this means the brand must be hiding something. Also, consider looking into influencer marketing, which helps brands reach out to trusted social media celebrities.
Customer segmentation: To help avoid the clash between messaging and the target market, brands should conduct customer segmentation and handle their advertisements appropriately. Avoid blanketing an audience with vague messaging and focus on speaking directly to smaller groups of potential customers, one segment at a time.

5. Use visuals

A survey of millennials that was previously mentioned indicated how simple it is for them to recognize cliched tactics such as stock videos and photographs. Companies that generate genuine material will also produce unique content, such as behind-the-scenes clips or exclusive pictures.

An oft-cited proverb is that an image can express what a thousand words could not. This proverb still remains true today. Your brand’s messaging should not be restricted to only flat platforms. Take a look at something like Sketch London, where people can actively take part.

Millennials are devoted to companies that are willing to work and converse with them in a two-way manner. Using visuals such as an interactive website can reinforce the “chatty” style of your brand. You can also use social media for more visual communication. Organizing caption competitions, showcasing a loyal customer in a post, or even allowing them to temporarily control your social media accounts indicates that you are devoted to a dialogue with your audience.

6. Maintain your blog

It’s quite strange that young adults can feel distressed from seeing that an organization’s last blog post was from two years ago. It’s like entering a store only to discover that the inside has been deserted, similar to what happens in digital marketing.

You shouldn’t only keep a blog so that you don’t have to face this problem. Providing a blog on your website is a great way to keep visitors coming back. It appears that carefully constructed blogs can lead to a notable rise of 55% in site visitors. However, you are not only using this as a way to reach out to the millennials. You are also creating new content to appeal to search engine algorithms that prioritize more modern information.

Given that a majority of millennials don’t take notice of companies that don’t perform well in search results, it would be a good idea to keep a blog that is up-to-date and well-maintained as that would be an effective way to communicate with them.

Many shoppers in the Millennial generation may just have a quick look at your blog before deciding to make a purchase. However, the amount of work put into writing the post can result in a noteworthy look.

Search results that go above and beyond will help attract more customers, and millennials who search online want to be able to confirm that you maintain an active blog before they make a purchase. Basically, if an individual can’t handle running a blog, it makes one ponder the capacity for them to adhere to up-to-date shipping regulations. Refund policies? Or even the quality of your product?

Why You Should Market to Millennials

As the United States consumer base remained balanced and increased, the millennial buyer’s sway and purchasing capacity also rose. Contrasting with generations before them, millennials have not established allegiance to companies that do not embody the ideals of this age group despite the popularity of Mad Men-era marketing and advertising endeavors.

Millennials have a greater tendency to respond to campaigns and advertising that is directly applicable to them.

Companies that go beyond creating products and actively work to make a positive social and environmental impact are more likely to achieve loyalty from their customers.

Below are some more facts compiled from Lexington Law, UPS, and Forbes about the millennial generation:

1. Millennials are the largest generational cohort in the U.S.

It is essential to give due consideration to millennials as they make up a considerable section of the American workforce, and are soon expected to outnumber baby boomers, thus making them highly desirable and influential through their buying practices and investment preferences.

Consider this:

2. Millennials spend $600 billion a year in the U.S.

According to the USC paper “Psychology of Successfully Marketing to Millennials,” millennials tend to invest their money into learning, apparel, sustenance, social engagements, transportation, and groceries. In comparison, older generations are likely to allocate their money to categories like entertainment and medical care.

Here’s a general breakdown:

A millennial, on average, spends $47,112 USD a year.
In total, the millennial cohort spends $600 billion a year in the U.S.
This generation is more likely to err on the side of being coupon- and thrift-savvy.
Millennials are taking on more financial responsibilities in general.
They are expected to accumulate more wealth by the year 2020.

3. Millennials make over 50% of all online purchases.

Millennials, belonging to a generation who have experienced the widespread use of smartphones, devote a lot of time to screens. It’s clear that they have great familiarity with technology and have the tendency to purchase items digitally instead of going to a physical store to purchase them. Some additional facts courtesy of UPS:

According to UPS, technology and social media are central to the way millennials go about their shopping processes. That’s why user-friendly ecommerce platforms are essential in helping consumers navigate the process.
Millennials make approximately 54% of purchases online, in contrast to other generations.
Having grown up in the era of social media and early blogging platforms and AIM, millennials are no strangers to using their shopping power in a digital platform.
Millennials recently became the “largest group of shoppers with the most buying power,” surpassing baby boomers.
They are more likely to make purchases online than at a physical store.
They are also highly influenced by online reviews before making their online purchases.
They make fast and convenient purchases on a mobile device, making it important for ecommerce sites to provide a streamlined process.

4. Most millennials can become brand loyal.

Millennials as buyers tend to lean towards companies that have positive results on society and the environment, as well as ones that contribute to the community. Millennials are more inclined to stay loyal if they can receive a reward for their purchases, such as contributing to a charity or ensuring their money is spent in an ethical or green way.

Here are some facts from Forbes:

60% of millennials stay loyal to brands and are likely to repeat their purchase if they agree with the fundamentals of brand messaging.
Millennials are likely to stick with brands that are community conscious and compassionate about issues; often being mindful of the environment and showing interest in companies that show an interest in social causes.
Since they’re often using social media platforms, it is important to engage with them in that space as well. They have a deeper appreciation for brands that engage with them on social media, whether through a retweet (RT) or personalized response from the company.