High-profile brands are competing with each other on who can maintain Millennials’ interest the most and benefit from their consumer influence. Millennials, a.k.a. Generation Y, are the largest generation that have reached adulthood in the 2000’s. They were born between the 1980’s and 2000’s, so they are approximately between the ages 15 to 35. They are about 80mil Millennials in America, making them 25% of the population. This group is the most influential consumer generation because not only will they have $1.7 trillion spending power by 2020, they also influence the buying behavior of their parents who see them as culture trendsetters.
Acknowledge Millennials’ Diversity
Millennials are the most diverse generation ever, so they desire content that appeals to their cultural interests. Brands should not create one-size-fits-all marketing strategies to attract Millennials because there are intergenerational differences between them. For example, a clothing company should market their products differently to a 20 year old partygoer in college from a 33 year old full-time working father. An independent advertising agency, Barkley, divided Millennials into six segments with representative quotes:
● Hip-ennials (29%) “I can make the world a better place.”
● Millennial Moms (22%) “I love to work out, travel, and pamper my baby.”
● Anti-Millennials (16%) “I’m too busy taking care of my business and my family to worry about much else.”
● Gadget Gurus (13%) “It’s a great day to be me.”
● Clean and Green Millennials (10%) “I take care of myself and the world around me.”
● Old School Millennials (10%) “Connecting on Facebook is too impersonal, let’s meet up for coffee instead!”
I believe if business owners and marketers want to appeal to Millennials they should embrace their diversity. Brands must understand their target market’s demographic and interests to create products and content that will appeal to their race, age, gender, and location. They engage more with brands that acknowledge their individualism.
Have a Presence on Social Media
Millennials are very active on social media. It’s one of most popular places where they interact with brands. Newscred, reported the channels that Millennials use the most to find content:
● 71% Google
● 65% Facebook
● 24% Pinterest
● 23% Instagram
● 23% Twitter
● 12% LinkedIn
And the social media channels where they share content the most:
● 75.5% Facebook
● 12.5% Instagram
● 5% Pinterest
● 3.5% LinkedIn
● 3.5% Google+
Social media is where brands get to have human conversations with their target audience. Being relevant and proving interesting content will win them over. Newscred identified the top three traits that inspire Millennials to share content on social media:
● Supporting a cause that they believe in
Create a Winning Content Strategy
Millennials are exposed to thousands of ads and content every day. The majority of them are not satisfied with what they are seeing. They have the ability to block or filter out the messages and information that doesn’t interest them. They are so turned off by brands’ self-promotional selling that they are now prioritizing brands that can provide them useful information. Here are tips to creating interesting content that Millennials will love:
Stop Focusing on Yourself
Since Millennials are exposed to self-promotional content every day, they are no longer interested in brands that talk only about themselves. They desire content that is targeted to their interest and bring value to their lives.
Don’t be Boring
Brands can’t afford to be boring, because Millennials can be loyal somewhere else. Generate content that will educate or entertain them.
Provide Great Value
To gain consumer loyalty, brands must generate useful information that will make their audience’s lives better. This is very important because your brand can be seen as a thought leader or authority that has built a relationship based on trust.
Content that moves hearts and inspires people to be better will have a lot more shares and conversations than the ones that don’t.
Support A Social Cause
Millennials are up to date on the latest social issues and approve of cause marketing. This generation wants to make the world a better place and will be loyal to brands that will support their causes (racial equality, marriage equality, transgender rights, and gender equality).
To attract Millennials, brands must create content that acknowledges their diverse cultural identity, is shareable on social media, and brings values to their lives. Unlike the generation before them, Millennials are exposed to thousands of content from many channels every day. This means that brands have so much competition and so little time to retain their attention, requiring brands to cherish every moment they can to create the best and captivating content possible.