What You Should Know About Millennials
No generation has been analyzed more than millennials as they are often misunderstood. It is for good reason, however, that millennials should be understood as they spend roughly two billion dollars each year. Millennials make up a large percentage of customers and clients, which is why it is imperative that you are aware of how they think and what they look for in a company from which to purchase products and/or services.
What you should know about millennials includes the following:
1. Social Media
It may come as no surprise that millennials are connected to a plethora of social media sites and apps. They are more likely to support a brand with a robust social media presence on websites such as Twitter, Facebook, Pinterest, Instagram, and even Snapchat. Social media is a great way to get your brand’s key messages across in a format that is easy for the reader to digest. Unlike some company websites, social media acts as a way for millennials to communicate and interact with their favorite brands. More and more brands are liking customers’ comments, posts, and interaction which, in turn, boosts millennials’ loyalty as they form a personal bond with that brand.
Millennials are value-driven individuals who take comfort in knowing that the companies they support are as equally value-driven. Customers of this generation are willing to pay more money for a product made by a company with good ethics rather than buying a cheaper product that does its job just as well. Millennials gravitate towards brands that give back to society and help create a better world, so they are actively interested in how their contribution to a brand is paying off.
By promoting philanthropical ideas and efforts made by your company, millennials are more likely to support your brand and purchase your products or services. Millennials are much more likely to remain loyal to a brand that supports the same causes they care about.
3. Videos with Captions
Millennials are always on the go, and they want to be able to take in information in short, bite-sized amounts. Many sites provide brands and companies the opportunity to post short videos on their page or feed. These short videos come across in a way that is not as aggressive as some commercials, which allows millennials to absorb information in a small amount of time. Millennials care about the accessibility of everyone, which is why it is essential to add captions to videos so that those who are deaf or hard of hearing can read along with the video.
Millennials also enjoy watching videos about products they intend to purchase along with learning more about the brand. This is why it is vital to have videos about your products that are long enough for the consumer to get information, yet short enough for them to watch while browsing the isles of a store.
4. Deals, Deals, and More Deals
Millennials sometimes have disposable income; however, some prefer to be frugal with their money and will only shop if they feel as though they are getting a good deal. Most millennials are more likely to purchase a product if they see a deal posted on a brand’s social media account such as Twitter or Facebook than they would if they received an email about the same deal.
When promoting a deal or coupon, it is vital that you are promoting the sale in the right locations so that millennials will see it. Emails are typically filled with spam, so most millennials don’t even bother to open them even if they receive an email from their favorite brand. Some social media platforms, such as Facebook, even allow companies to promote to consumers in specific areas as they realize there might be a need for that product in that area. For example, a deal on a winter jacket in October might go over well for millennials on the East Coast; however, it is less likely a potential customer on the West Coast would purchase that same item even if it was on sale as there would be no need for it based on location.
5. Sponsored Events
Millennials enjoy having a good time and gathering with friends. Sponsored events for the launch of a product is a great way to increase brand loyalty as millennials will want to invest money into a company that they feel wants them to have fun. Since millennials go to concerts and live events often, it is wise to sponsor events as they are likely to remember the companies that made the event happen.
Millennials love to feel as though they belong, which is why hosting events on social media accounts is incredibly essential. Some companies tell customers to take pictures of themselves with products as that boosts participation. Millennials enjoy taking pictures and capturing every moment, so they are more than happy to take creative pictures with items or capture a picture of their product arriving in the mail. When companies interact with those types of posts, more customers want to join in on the fun of showing their excitement and love of a brand.
7. Giveaways and Apps
Giveaways are the key to millennials’ hearts as they feel like the brand cares about giving back to the people who support their company. Some companies do giveaways in the form of contests and interaction; however, others provide free items to all customers who download their app or sign up for a loyalty program.
As previously mentioned, millennials adore a good deal, so they are often willing to download apps and sign up for loyalty programs to get a free item or discount in return. These apps promote brand loyalty as they often give free products after a customer spends a certain amount. Some companies even provide monthly or weekly discounts when using the app, so the customer is more likely to spend money more often because they are getting something free in exchange for using the app.
8. Reviews and Research
Of all the generations, millennials represent the most likely one to look on review sites such as Yelp, Amazon, and TripAdvisor before making a purchase. They hold value to how a brand measures up to other consumers, and they often review many brands and products before settling on the right one for them. It is essential for companies to be aware of how their brand and products are rated on these websites. Some products and services are given poor reviews due to incorrect use of the product; however, a millennial that needs to purchase something in a pinch might not read all the reviews and determine why it has the specific rating. Brands must be ahead of the game so that they can work on improving a por rating or maintaining a positive one. rating.
9. Made in the USA
Millennials prefer purchasing products that are made locally or made in the USA over products made outside of the United States. More and more companies are promoting the fact that their products are made in the United States, whether they mention it on their website, on social media accounts, or on the product itself. It is essential for brands to become aware that millennials are more likely to purchase a product or service that utilize American-made materials and are manufactured in the United States.