5 marketing strategies for successful contact with Millennials
The generation of the new millennium (so-called millennial shoppers - millennials), people aged 14 to 35, without a doubt, today are one of the most valuable and sought-after target groups in the field of commerce. Crowdholding is a great place to connect with Millennials as average crowdholder’s age is between 18 to 34 and they are also risk-takers, innovators, and co-creators.
Despite the fact that this group is only 27% of the total population of the world (as of August 2014), it has a strong consumer potential. In monetary terms, it is possible to express the amount of $600 billion annually spent on the purchase of certain goods and services. By 2020, this generation will be about half of the US working-age population and will reach 75% in 2025.
It is obvious that the first business that pays attention to this category of buyers will success. However, only half of all traders use demographic targeting (ie divide all of their customers by age group) and optimize the complex marketing activities for each of the groups.
Begin this work right now, and you will leave its competitors far behind. How? Read below.
1. No matter what you sell, sell it online
Being online today is not just fashionable. It is also really beneficial. According to studies, 40% of men admit millennials could buy everything they need on the Internet. Among women millennials, this percentage is slightly lower (33%), but the results speak for themselves: the representatives of the group share they feel comfortable in the environment of online and are willing to spend money there.
It would seem that this social demand should be an adequate response on the part of a business, but only 50.5% of firms have are on the Internet:
50.5% - have an Internet presence, 31,2% - are not present in the network, 11,8% - are exploring the benefits online, 7.5% - representation are under development.
What about the others? Carrying out research in this area, engaging in the creation of resources or opportunities for growth. If you have a Landing page or online store, you already outcompete half the competitors and apply a much more successful strategy when working with millennials.
If you have still no Landing page or website through which you could collect orders, you should know that certain product groups sell much better through traditional offline points: it's drugs (91%), furniture (81%), shoes (76%), jewelry (62%), clothing (74%), daily use products (62%).
Even if you are selling goods in this category, you still should not put an end to online distribution. Think strategically: Build Internet representation, in addition to your offline store.
2. Streamline the buying process for any device
Millennials distinguish from other age groups fairly easy: according to research, they do not limit themselves to the selection of gadgets for everyday use (30% of them use 4 or more different devices per day).
Of course, smartphones are the most popular handheld device as people turn to their devices an average of 34 times per day. But even more interesting and important is the fact that 52% of respondents described that representatives of the group are actively using mobile devices while shopping on the Internet.
That said, you can easily make two obvious conclusions:
1. It is necessary to optimize the shopping experience for mobile devices
This means that you need to use only the big picture, configure user-friendly interface (for example, to introduce large buttons that are easy to click on mobile devices), provide high-speed loading web pages, etc.
2. The process of registration of purchase must also be optimized for all kinds of devices
The traditional long-lead form simply does not fit into a whole new user experience. For customers who place orders via a mobile device is to be found another, more convenient solution.
Internet publication Smashing Magazine in one of his articles drew attention to the differences between the optimized order form (left) and conventional (right).
According to the data of the search engine Yahoo!, most online retailers (ie - 88%) do not optimize the purchase process for customers' experience working with the website through a mobile device.
If you are looking to grow your business, you have probably realized that this fact will work for you if you prefer to optimize Web resources immediately. This will be an excellent chance to draw attention millennials on his side.
3. Aim the social trend in your direction
What do you think, what is the simplest and most effective way to convince millennials to buy something from you?
Do not rush to answer. It is important to understand that the technologies and techniques that produce results with representatives of the older generation, will now not work, or will work, but not with the desired effect.
For example, Yahoo! mentioned in the same report that for 68% of millennials advertising would no longer give the expected results.
There is no need to invest in two-step communication plans, but be out there, and it's - the output of your company in the social space. Join Crowdholding to collect a community of brand advocates and initiate a more creative approach to market to Millennials. This generation exhibits a high degree of confidence in the recommendations and reviews of other people (the so-called social proof - social proof). Social networks - a place where millennials spend a lot of time, and the fact that when choosing a product 66% of which is guided by the advice of friends and acquaintances in social media, is no surprise. In addition, 93% millennials already made purchases on the advice of friends, and 89% believe such advice and recommendations of more than statements of the brand.
In turn, millennials are ready to give advice and to write these recommendations. The crowd actively participates in co-creating products with businesses on Crowdholding. According to research 59%, millennials share their impressions from buying in the social media, while 41% of them use social networks just for this.
4. Reposition your content marketing on millennials
Content marketing - is a profitable and highly effective way to let them know millennials about their company and its products. According to surveys, 85% millennials before becoming a client of a firm, conducted a small preliminary study: a user collects information about the company and its products, meets customer reviews and online surveys. The information that is available on the official website of the company, are also subject to scrutiny.
Consequently, the content that you post on the pages of his corporate blog, is extremely important. But it is important not only to image-information and news chronicle of all possible discounts and sales, a new line of products, etc.
Do not forget that as submitted your content. millennials appreciate the information that is clearly set out and does not require additional decoding. Optimizing content for different devices is also important.
Even if you are absolutely sure that the information that you have, demanded by your target audience, please note that buyers prefer to choose the channel of communication with you, which will consider the most appropriate.
5. Plan activities for the formation of loyalty to your company
Discount coupons, perhaps, can be attributed to the few technologies "old school" marketing loyal, who very well able to adapt to the realities of today's business. And if you think to build a loyal customer base priority (which is necessary for the business of any level and category), you can use this tool. You can also offer Crowdshares (% of future revenue) to gather a community of brand advocates and then reward them for their loyalty.
The fact that millennials, according to authoritative online marketing resource PracticalEcommerce, do not miss a single opportunity to bargain and save money. When you give them that opportunity, that is, playing on their greed, then definitely it attracts attention to your company. Just look at the following figures:
- 63% millennials ready to register on the company's website, or perform any other action to receive a coupon code.
- Discount of 20% is enough to convince half of all visitors to visit the point of sale.
- 23% of consumers react only on coupons with 50% discount, and 17% would welcome any figure with the sign "minus".
A similar situation is observed with the ratio millennials various loyalty programs:
- 84% of customers are willing to go on the websites of companies that implement programs to increase loyalty.
- 75% of customers will prefer the company that provides discounts in real-time while shopping with smartphones.
- millennials 73% are ready to participate in various loyalty programs from their mobile devices.
Note: a few online retailers offer coupons and carry out actions increase online loyalty. Take this opportunity and if you pay attention to a very important target group.
Millennials - an important segment of buyers in the modern business space. And if you want to establish contact with them, then you need to learn to speak the same language.
We are interested in your opinion and feedback regarding the crowdholding concept. Get in touch through our website or email us at firstname.lastname@example.org Learn more about Crowdholding in 1 minute by watching our Youtube video.
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