How to market to tech savvy Millennials.
According to HUBSPOT baby boomers hold 57% of the wealth in US. So why are we so intent on marketing to millennials? You would think that millennials are weighed down with university debt, the urge to trave l(pre-corona) and limited disposable income.
Studies suggest that millennials are the most lucrative market to target as they make up 25% of the population with an estimated annual buying power of over a trillion dollars.
Millennials are not loyal
Millennials have been found to switch brands for a more innovative product, for a lower price or better incentive. According to HUBSPOT only 29% of millennials will buy the same brand. This gives brands the opportunity to target a market that will easily be swayed with an incentive.
Millennials are tech-savvy
This is a no brainer. Millennials are very tech savvy and most of them have grown up with the internet and are excited to take up new technologies and online platforms. This brings us to our final point…
Millennials use devices
Studies have found that 9 out of 10 millennials have a smart phone. On this smartphone, they have access to Facebook, Instagram, Tik Tok, Twitter, Email and the internet. Many brands are creating their own apps that include push notifications, targeted directly at the users buying behiaviour.
Want to know how to market to millennials?
Content is king.
Millennials trust what they feel is authentic. If you are selling someone else’s brand, you will most likely be using their content to do so. This means that your competition is doing the same thing and you are not unique. Why not create your own imagery to sell that brand? Set yourself apart from the others. Research suggests the original content is 35% more memorable than other media.
Consider a more personal approach to marketing.
Paid for mainstream forms of advertising is considered to have little to no impact on millennials. Research suggests they find it intrusive and would prefer to research via blogs, influencers and testimonials.
Guide your demographic with informative tips.
For example, Charlotte Tibury Makeup offer tutorials on how to use all their products. These tutorials are easy to watch videos and can be found on their website and Youtube. When a brand or company takes the time to educate their consumer, they build strong brand-consumer relationships. A millennial makeup lover is much more likely to tell her friends to check out Charlotte Tilbury’s videos than share a print ad of a model wearing makeup.
If you need guidance with your content marketing send Unpublished Perth an email or give us a call.
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