Generation Y, also known as millennials, are a key demographic in the consumer market. Building a rapport with this generation can be extremely beneficial to a company. We are dubbed the “digital natives” so marketing to our generation is done mostly through this medium.
I. What are the Challenges?
The millennial market is not a type of market that responds to traditional advertising notions.
We are a generation that is constantly multitasking. We utilize multiple screens and multiple devices at the same time.
There is the need to be constantly connected. There is an immediate worry when we can’t check our social media feeds or emails if we’re in an area without service. We feel that within the disconnection there is the inability to be informed and updated on what is happening.
While we are on course to becoming the most educated generation, we have a short attention span when dealing with marketing strategies. When we text, use twitter, or make a Facebook status, they are all short concise messages.
We aren’t the type of market that responds to traditional based advertising notions. A commercial simply stating the facts of a product is not enough. Television, print ads and billboards are too “in-your-face”. We would rather use our favorite digital tools (smartphone, blogs, websites, reviews) to discover your brand or product. We are a culture that responds to content that is relevant, interesting, and eye-catching.
II. Engaging Millennials in Social Media Marketing
As a generation of consumers, the millennial market represents billions of dollars for brands every year. In fact Millennials in the US wield about $1.3 trillion in annual buying power. But marketing to this media-savvy generation requires an approach that marketers have traditionally not embraced, an approach that’s more about authenticity.
Use Corporate Social Responsibility
We identify more with a company that uses their corporate social responsibility to better their community. When we see that a company gives back to their community it makes them seem more relatable and therefore we can identify with the brand.
Capitalize on Social Media Platforms
This concept is the most important. Social media rules Gen Y whether we like it or not. Out of the 79 million millennials in the US, 75% use a social networking site. To market to our generation, building your brand on social media is imperative. At Today’s Business we develop and put your brand on the social media map!
Provide Elite Incentives
Gen Y consumers like to feel special. We work tremendously hard and like to splurge on items that make us feel elite. If a product is a little more expensive than we would normally go for, we will justify the expense as something that we worked hard for.
Adapt to our Lifestyle
We are technology driven generation, so utilizing any outlet within the technological realm will automatically be more appealing.
Keep things short. Millennials look to fill idle points in their days, always wanting to optimize their time. So if we’re waiting in line for our coffee in the morning and see a promotional post that is more than 3 sentences long, we will most likely scroll right past it.
If you’re serious about engaging Gen Y consumers, you have to give them an experience they’ll want to share. By focusing your efforts on experiential marketing, and incorporating a sense of social responsibility and an incentive to share your content with their peers, you’ll be able to connect with these consumers more deeply and help win their trust.