Millennials – consumers between the ages of 18 and 37 – make up the largest, single demographic ever. Bigger than the Baby Boom generation.

Want some numbers?

  • There are 86 million millennials – 7% more than the Boomer generation.
  • Millennials spend $1.3 trillion a year – 21% of total consumer spending.
  • Millennials connect to the Internet and to each other using smartphones, tablets, and other digital devices.
  • The employment rate for millennials is 7.4% – below the national average.
  • Millennials enjoy financial security, invest for the future, and fuel much of our economy.

This target market is tech savvy, and composed of careful consumers who use Internet resources to research product purchases and comparison shop to get the best deal from the best source, whether it’s a new car or raw materials for a growing manufacturer.

Millennials are a powerful consumer force – one your business can’t afford to ignore. Here are some tips to reach out to millennials and integrate these smart consumers into your customer base.

1. Make it easy to purchase online. Millennials grew up in front of computers, and they like to buy online, unlike older consumers who might not trust online purchases.

Because millennials have so much experience with online buying, the expectations of this dynamic demographic are high. They want to find the product or service they need, they want easy contact information, and they want numerous payment gateways – from online payment services to credit cards, and even electronic funds transfers (EFTs).

The easier it is to make a purchase, the more purchases will be made, so simplify your website’s checkout process, add a “search by preference” module, and make it easy to buy something.

2. Help, don’t hype. Millennials know when they’re being hyped. They also appreciate it when you help them by providing useful product descriptions and helpful articles on the products or services your company sells.

3. Use visuals. Product pictures, charts and graphs, photos of your business – all deliver a great deal of information quickly. Millennials grew up watching visual media, and they don’t want to read pages of text when a single chart provides the same information at a glance. Use visuals in all of your marketing collateral to get your message across quickly.

4. Use social media. Millennials do. As this growing consumer bubble moves through the economy, social media will continue to grow in importance.  Before making a purchase – whether it’s a new home or a new mixer – millennials will read product reviews, ask friends on social media sites for their opinions, check consumer review websites – all before clicking the “Complete Purchase” button.

Social media websites, like Facebook® and Twitter®, are low-cost tools to reach millennials with your company’s message. Make it clear, honest, and on point to grab the attention of this expanding market.

5. Make it easy to reach you. Millennials buy online comfortably and with confidence. Boost confidence and comfort levels with lots of ways to reach you.  Include complete contact information on each website page. Add a chat module to “talk” to today’s texters. Place an email module on your website’s Contact page to simplify engagement.

6. Go mobi. Millennials use smart phones and tablets to access the Internet. They’re no longer tethered to a desktop, or in search of a Wi-Fi hot spot.  You may have a dot.com website, but these sites were designed for viewing on a computer screen, not a tiny smart phone screen. Make website access easier with a dot.mobi website that simplifies navigation and eliminates endless scrolling to find the right product choice.

Mobi sites are designed to display well on smaller screens. Also, instead of a single navigation bar like the one on your dot.com website, dot.mobi sites employ drill down screens to simplify a website search.

7. Quality matters. Millennials have high expectations. They don’t want excuses, they want quality client care, easily accessible tech support, fast shipping, 100% no-hassle guarantees, and fewer returns. Millennials read consumer reviews and often base purchase decisions on these reviews. Selling quality products, delivering quality services, and making client care a core company value will help keep millennials coming back, and keep them talking up your company to their digital contacts.

Many of the traditional aspects of marketing still apply, but millennials are smart, they do their research, and they know how to use the Internet.

It’s a new age – a new millennium. It’s time your business directed its marketing at this growing demographic.

 


The information provided is presented for general informational purposes only and does not constitute tax, legal or business advice.