For many retailers and service providers, millenials are an increasingly important target market and are projected to have a spending capability of US$1.4 trillion by 2020. However, millenials are a different breed to those raised in the pre-internet age and traditional marketing tropes tend to not be as effective on them as they were on previous generations. In fact, a recent study shows that up to 84% of millenials don’t trust traditional advertising. In this article, we look at a few key ways that you can adapt your marketing strategy to appeal to millenials.
Target lifestyles rather than life stages
More and more millenials are choosing to eschew traditional markers of a particular life stage and choose instead to embrace less tangible, lifestyle related goals. Things like homeownership, a career, marriage, and a family are no longer necessarily appealing to millenials and this makes targeting audiences at a life stage difficult. A more effective targeting strategy is to focus on the social groups, such as the socially and environmentally conscious, or those heavily invested in celebrity culture. Millenials tend to identify more closely with these lifestyle factors than they do with their age or stage of life.
Make it personal
Millenials aren’t interested in generic, company centric marketing that is designed for the masses. What they really want is personalised advertising that makes the customer feel empowered to make their own choices. Building a personalised relationship with the millennial audience entails engaging them with compelling, informative, and original content that is enhances their lives. Examples of this include videos, blogs, whitepapers, and tutorials. Having a channel that enables millenials to engage with your marketing content is also a good idea, as social media platforms like Facebook, Twitter, Instagram, and Snapchat play a crucial role in the way millenials engage with a brand, and spread information to others.
The average millennial spends around 25 hours per week online, so they are finely attuned to all the standard tricks and tropes of the advertising industry. Being constantly exposed to information, media, and advertising, what millenials really seek is authentic, compelling content that they can relate to, engage with, and share as part of their personal brand.
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