Successful businesses know that Millennials represent a large share of the consumer market. This generation, born between 1981 and 1999, has grown up, entered the workforce, and is spending more money than any other generation. In the United States, they represent the largest living generation, make up the largest share of the workforce, and spend over $600 billion every year.
To be successful in today’s market, it’s critical to understand the power of this market segment. Companies need to ensure that their business practices continue to evolve and make the necessary adjustments to appeal to Millennial shoppers. Consider these strategies for reaching, interacting with, and satisfying these buyers.
Prioritize Online Shopping
While Millennials shoppers account for a massive share of consumer purchases, you won’t often run into them at the local mall. Rather, this busy generation prefers to shop online. Having grown up in the digital age, trekking to the store feels archaic and inefficient to these consumers. Instead, they use their laptops or smartphones to order a product with the touch of a finger, often receiving their order in record time.
With so many consumers shopping online, businesses need to ensure that their online presence is attractive, modern, and engaging. Your website needs to make a strong first impression, or Millennials will simply click on the next option. Additionally, you should make sure your website is always up-to-date by investing in a content management system. This easy-to-use interface allows you to keep your website fresh and updated without hiring or waiting for a professional designer.
In addition to making sure your website’s aesthetic is modern and up-to-date, you should pay attention to the use and placement of text, videos, and digital images. For example, since website visitors usually scroll down and scan when viewing a site, use graphics and white space to guide the shopper’s eye to the information you most want them to see. Overall, since Millennials hate to waste time, make sure your website is fast and easy to navigate, ensuring that Millenials can find the information they need with very few keystrokes. Additionally, since most Millennials shop with their tablets and smartphones, you should have a mobile-friendly website that adjusts to fit any device that the shopper is on.
Utilize Social Media
When marketing to Millenial consumers, keep in mind that old-school methods don’t work well. Unlike the previous generation, these shoppers don’t trust or respond positively to intrusive ads, direct mailers, cold calls, junk mail, or popups.
A much more effective marketing approach is to reach them through social media. The Millennial generation spends hours a day scrolling through Facebook, Instagram, and TikTok. Invest in engaging, authentic posts to appeal to these consumers, and make sure that your content blends in well with other posts rather than looking like a sales pitch. Millennials respect authenticity, and if your post is pushy or comes across as a hard sell, these shoppers will likely look elsewhere.
One marketing strategy that seems to work really well with Millennials is social media collaborations. Millennials often place their trust in influencers that they follow online, so when these trusted figures review or endorse your product, it can carry a lot of weight.
Offer Chat Support
Millennials love staying connected through the internet, but they generally try to avoid talking on the phone. Unlike older generations, this generation grew up texting and messaging rather than dialing a phone.
Consumers appreciate businesses that are willing to communicate on their level. For Millenials, this involves messaging through live chat support rather than calling a company’s phone line. The easiest way to offer this service is to use a system that bundles multiple telecommunication options, including a chat function.
Show You Care
Gone are the days when consumers cared only about the product or service they could get from your company. Millennials are interested in much more than that. This generation of shoppers wants to do business with companies that give back to the community. If your company isn’t focused on making a difference in the world, Millennials may pass you by and find a more philanthropic company to buy from.
The Millennial generation has grown up to be a significant segment of the consumer market. Consequently, companies must take these consumers into account when determining basic business strategies. By investing in business practices that resonate with these shoppers, your company can experience the success you are after.
Also Read: 6 Top Education Picks of the Millennials