Millennials are those born between 1980 and 2000.
They are currently on track to become the largest generation in U.S. history.
This also means they have the largest spending power of any age group of consumers, making them an essential demographic for marketers.
Capturing the attention of this unique age group can be tricky, especially for brands that traditionally gear their products and branding towards other (i.e., older) generations.
For brands that have been around for a long time, they might wonder how to score an introduction to a new generation of customers.
And newer companies may be searching for ways to build trust with millennials.
The good news is businesses do not need to completely rebrand themselves to attract millennials.
They do, however, need to understand how this age group operates and what drives them to make a purchase.
Let’s dive in.
Focus on Long-term Relationships
There are so many online businesses out there vying for millennial attention.
So a good strategy for attracting them to your brand is to focus on the relationship rather than the sale.
And for this generation, it should be no surprise that the best way to connect with them is by using social media.
But remember, social media is about far more than just advertising, especially to this younger generation.
Many view this platform as an opportunity to connect with brands and build a relationship that eventually leads to purchases and loyalty.
Millennials also tend to be brand-focused on social media, with 95 percent following at least one brand.
The reasoning behind their loyalty is interesting to note.
Source: UMass Dartmouth
According to this study, a majority 89 percent follow brands because they support the brand message. And 67 percent do so to share interests with their followers from a communal perspective.
They also view social media as an opportunity to open up a communication channel between themselves and the brand.
Forty-three percent of online shoppers agree that an interaction with a business on social media makes them value and respect the brand more.
And if the brand engages them online, they are far more likely to buy from them in the future.
Rather than just using social sites to promote your products, focus on engagement.
Respond to customer comments, ask them questions, host contests, and use this as a form for connecting rather than strictly marketing.
Make Your Brand More Relatable and Trustworthy
Many millennials are exceptionally tech-savvy.
They grew up with technology and are comfortable using smartphones and social media to make purchasing decisions.
This also means there are virtually limitless options for them when it comes to buying products online.
In fact, millennials are three times more likely to purchase an item online than any other age group. And they are twice as likely to be influenced by a brand’s advertising.
That means to attract this market segment; your brand needs to stand out.
One of the best ways to do this is by creating a brand perception which revolves around being open and transparent.
Brand authenticity is incredibly important to this generation.
According to a study conducted by Label Insight, 94 percent of consumers would be more loyal to a brand offering full transparency about their products and business.
Source: Label Insight
Displaying honest customer feedback and reviews is a great way to communicate to other consumers that you are committed to transparency.
That means sharing both your positive and negative reviews. Look at these reviews of Trustpilot as an example.
While many customers offer positive feedback, there are several 3-star and 4-star ratings included.
Each customer is invited to share their opinions on the pros and, more importantly, the cons of the product.
Source: Capterra
Doing this helps make the brand more relatable and trustworthy.
They are not trying to hide anything when openly asking customers to share what they didn’t like about the product.
Don’t be afraid to display less-than-stellar reviews on your website.
In fact, 87 percent of millennials firmly believe brands should not edit feedback.
Having a mix of good and bad reviews can make your brand more trustworthy than having a perfect record will.
Stand for Something Bigger Than Your Brand
Millennials often receive a bad rep for “killing” big name retailers, and they are typically more likely to purchase from smaller brands.
But the reasoning behind their purchase choices is actually quite noble.
This younger generation is highly concerned with social responsibility.
Two-thirds of the millennial market is willing to pay more to a brand supporting sustainability, and 56 percent would rather buy from a business committed to social values.
Source: Nielsen
Supporting a good cause is a positive thing for brands to do for moral reasons, and 81 percent of millennial customers expect companies to do this.
Standing for something bigger than your brand speaks volumes to younger customers.
Whether it be donating part of your funds to a good cause, adopting sustainable practices, or giving back to the community, communicating this through cause marketing can help you attract 90 percent more millennial customers.
Capture Millennials With These Tips
Millennials are a unique demographic with their own set of preferences and non-negotiables.
And if brands can connect with them on these levels, capturing this audience will be far easier than you expect.
A total rebrand is not always necessary.
In fact, trying too hard to be “young and hip” can turn millennials off.
Instead, focus on things which are truly important to this generation and connect with this incredibly important and powerful market segment.