It will not be long until the majority of the American adult population are no longer Baby Boomers, but Millennials. As of the last census data available in 2016, the millennial population (adults from ages 20 - 35) has reached 71 million. Compare that to 74 million Baby Boomers. By 2019, it is projected that the millennial population will have finally exceeded that of Baby Boomers. Why is this important? This means there will be a new, larger wave of consumers that businesses need to focus their marketing efforts towards.
As the millennial population grows, so does their buying power. Additionally, there will be a shift in consumer behavior, as the products and services they value will differ from a generation that is 30+ years older than them.
It's more likely for an adult in their late 20's to purchase the latest tech gadget than someone in the late 60's. Reason being, technological advances are the norm for Millennials, whereas Baby Boomers may not quite understand what newer technologies are or how they may be beneficial to use.
The way products are marketed will also be different for Millennials than the methods used for their predecessors. With the amount of information available on demand and at their fingertips, Millennials can be reached in many different ways. Far more than ever imagined, and in ways that are most beneficial to marketers. From email, to social media and search engines, this new group of consumers are accessible to companies easier than ever before.
So how do you best connect with the millennial consumers?
1. Be Where They Are.
Millennials spend the most time of any generation on the internet. Whether its online shopping or on social media sites, the average millennial spends nearly 4 hours a day on their mobile device. This means your brand should be online too. Make sure your website is up to date and mobile-friendly. If you sell products, be sure to offer some of them online and not just in-store. Create social media pages and accounts for your business. And utilize digital advertising to promote and raise awareness about your brand.
2. Be Relatable.
Do your research on your target millennial audience before starting a marketing campaign. Have an understanding of how to relate your message to them. This generation is quick to find a flaw or point out a fraud if a brand is trying to portray something it is not. Know what your hashtags mean, and be sure to properly interpret the terminology you are using when writing copy. The last thing you need is a social backlash from a campaign's misuse of words.
3. Be Connected.
This generation is always in need of attention. If you build an online and social presence, be sure to stay in touch with those who are following your brand. It doesn't take much. Read, like and reply to comments. Share posts of your customers using your products. The point is to show appreciation for those who are connected with you.