Millennials are quickly replacing the baby boomer generation in the workforce and have an annual buying power of around $600 billion. They are a tech-savvy generation that would rather shop from the comfort of their own home than interact with people in a physical store. This combination means that they are ripe for social media marketing and the new age of online stores.
Millennials include anyone born between 1981-1996, and they account for 72.1 million people in the US. Marketing trends show that 94% of millennials take advantage of coupons, and 40% rely on recommendations from friends and family before they purchase products. Celebrity endorsements simply don’t move many Millennials, but peer advice plays a significant role in Millennials’ shopping habits. This also means that Millennials are quick to turn to social media to share their opinions on products and services they’ve bought. A whopping 41% will make a recommendation over social media.
Content marketing is very important for this generation. 85% of Millennials research the companies and products they are buying, and much of this happens on the company’s website. It is imperative that content is visually appealing and mobile device friendly. If there is a long, complicated checkout process that is not conducive with smartphones, Millennials will find somewhere else to shop. Millennials are also large consumers of loyalty programs, with 84% saying they would shop around a website with loyalty programs, and 75% reported switching to brands with real-time discounts while shopping.
This generation is also more concerned with the politics of the companies they support and are more likely to shop from small, locally-owned businesses. If they agree with your mission and values, they are likely to become loyal customers, so it is important to have personal elements on your website and social media pages. Millennials like seeing who is behind the scenes and are more likely to recommend your business if you have humanized your company.
If you are looking to target Millennials, you should keep in mind: discounts and coupons, smartphone-friendly websites, aesthetic social media pages that show the people behind the business, and having your content shared and promoted by everyday customers.
Trying to keep up with the rapidly changing marketing and social media trends can get overwhelming fast. Sometimes, you need someone to step in and lighten the load. The Miner Agency has vast social media and creative services to help your business grow. From website development to social media graphics, The Miner Agency can assist you in anything your company may need. No matter the size of your budget, The Miner Agency has something for you