According to research from Goldman Sachs, there are 92 million millennials in the United States, many of whom are on the cusp of their prime spending years. As such, it's more important than ever for small businesses to think about how they can attract a greater chunk of the millennial market. As this generation is likely to compare prices online, find services using apps and leverage the opinion of other Internet-savvy spenders, businesses must turn to the mobile sphere to grab their attention.
Here are tips on how you can channel three popular millennial apps into your business strategy:
1. Yik Yak
You can think of Yik Yak as a local-area-specific, anonymous form of Twitter; users get just 200 characters to say what's on their mind and are then shown other "Yaks" generated nearby. The app also includes a "Herd" function, which lets users across the country weigh in on specific topics.
According to comScore, 98 percent of Yik Yak users are millennials; the app has the highest concentration of users between 18 to 34 years of age. According to GenYize, posting pictures that inspire millennials' nostalgia is one way to get "upvoted" and generate more interest. You can also take advantage of "Flash Yaks," which are series of posts about a single topic designed to create interest. The key here is to keep things simple and casual, as millennials can spot a sales pitch after the first stuffy Yak hits the network.
Venmo, which is owned by PayPal, allows users to easily transfer funds to their contacts electronically. They can even tie this experience to their social channels. If you really want to grab millennial attention as a small business, you need to do more than simply support PayPal payments via your mobile app. By offering Venmo checkout, you can streamline the purchasing process and get free exposure on social media when users share their purchases.
Millennials are also big fans of the photo and video app Snapchat: As noted by the The Wall Street Journal, this social platform reaches 41 percent of the coveted 18-to-34-year-old demographic in the United States on a daily basis. For small businesses, there are two ways to approach sales via Snapchat. The first is through filters, or digital image alterations that can turn users into cats, truckers or mystical beings. By building a brand story around one or more filters, you can generate organic interest among socially connected millennials. The other option is to encourage users to add your brand account to their friends list so you can send snaps directly to their devices, allowing you to join the conversation and build a reputation as a well-connected and responsive brand.
By taking advantage of these popular millennial apps, you can get one step closer to reaching this massive generation on the edge of their major spending years.
Featured on THRIVE
SIGN UP FOR THE THRIVE NEWSLETTER