Attracting millennials to your company's products or services calls for a new approach. Millennials — the generation of people currently aged 18 to 32 — outnumber even the baby boomer generation, according to Entrepreneur. They tend to spend the most money on cars, homes, furniture, restaurants and entertainment.
How do you attract this demographic to your business without changing who you are? First, get a sense of who they are.
Key Traits: Tech-Savviness and Independence
Millennials are the first generation to grow up completely immersed in technology. They've never known the frustration of having to redial a rotary phone because they missed the last digit, or the fun of waiting until a favorite program aired on television.
They're also a generation of independent thinkers. Millennials don't fall into a single political, religious or social demographic. They hold mixed viewpoints, often basing decisions on personal experience. Although they don't fall into one ideological camp, they are altruistic and giving, and tend to favor social causes that speak to the heart.
5 Tips for Attracting Millennials
Now that you understand some basic traits of this demographic, translate your knowledge into a marketing strategy. Attracting millennials to your business means adjusting some of your current marketing pitch tactics to better speak to this generation.
You might also consider adjusting some business practices if it seems economically feasible. Unless millennials are your core audience, however, continue with the strategy that makes the most sense to your business without adding undue expense. These five marketing tips will set you on the right path without altering the core of your business practices:
- Advertise your altruism. Millennials like to support companies that support their favorite causes. If your business supports local charities, make sure to advertise that within your company or store. Even something as simple as collecting food at Thanksgiving for the local food bank is a notion that appeals to this group.
- Use tech-savvy marketing via social media. Millennials are heavy social media users; Twitter, Facebook, Pinterest and Instagram are among their favorite channels. Incorporate these into your marketing and advertising plans to reach the millennial demographic.
- Customize. Millennials appreciate customization. Many are hip on the latest trends, including dietary trends like vegan and gluten-free diets. If you run a restaurant, make it easy for guests to customize their orders and for your staff to respond to dietary requests. Offer substitutions whenever possible.
- Reflect diversity. Millennials expect companies to reflect the diversity they're accustomed to, so be sure to feature people of different races, sizes and appearances in your advertising and marketing. (That goes for in-store marketing, too.)
- Attraction marketing. Instead of sending tons of outbound marketing campaigns, offer useful, relevant content. This may mean articles on financial planning or insurance if you run an investment firm, or fashion advice for a clothing store. Attract rather than market to this group.
Attracting millennials requires a slightly different marketing approach, but with a few tweaks to your plans, you can attract this large and diverse group of customers.