Marketing to Millennials
Millennials and post-Millennials (anyone under the age of 38 or so) see the world much differently than previous generations did. That means that selling products and services to them may require new business strategies and marketing savvy.
Rather than working hard to acquire things, as many Baby Boomers were known to do, Millennials and post-Millennials are more likely to spend their money on life experiences.
“For millennials, every moment has to pop!” says Ken Wasco, nationally known marketing expert. “They’ll spend top dollar to tailgate at a big game weekend,” he notes . . . “just for the experience.”
Millennials may not care as much for material things like top-tier homes, cars or clothing as their predecessors did.
They’ll still need those things, of course, but savvy marketers must understand a few things about their generation to sell to something them.
Consider just a few of their basic wants and needs. What do Millennials and post-Millennials want? A few of their priorities include:
1. Great Experiences. Tie goods and services to pleasant times and memorable events:
Buy this canopied lawn chair for a great parade experience under the shining summer sun.
See the world with our top-tier cable package, featuring colorful channels from several continents.
Have the time of your life driving your new electric automobile.
2. Convenience. Products and services need to be easily accessible for this one-click generation.
Sell goods and services online.
Make ordering, paying for and returning super simple.
3. Choices. One size won’t fit all. Millennials want choices:
Choose either a free gift or a 15 percent discount.
Buy one – or buy two and get 50% off the second one.
4. Ease of payment:
Pay with cash, check, credit card or PayPal.
Order today and make three easy payments of $33.33.
5. Sense of Community. Create feelings of belonging.
Make friends for a lifetime while finishing your degree at XYZ University.
Join our club. Only members have access to special deals.
Be one of the limited number of people who enjoy our gym.
6. Recognition. Recognize clients or customers for using your products or services.
Sign up by Dec. 31, 2019, and your company name will be added to our event program.
Donors' names will be posted on Facebook, Twitter, LinkedIn and Instagram.
Every generation presents unique challenges and new selling opportunities to marketers. Millennials make up over 7o percent of today's buying public. That's a significant chunk! The more you know about them, the better off your business will be.
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