HOW TO MARKET TO MILLENNIALS IN 2020?
Businesses are finding it hard to satisfy millennials, a generation of digital dwellers, who make decisions based on online reviews, influencer trust, and online research.
Here are various marketing strategies you can use to target millennials in 2020.
BUILD YOUR SOCIAL MEDIA PRESENCE
Brands have stopped considering social media to be just like any other medium of marketing since millennials tend to reach social platforms for all of their daily needs.
In simple words, with the exponential rise of social media users and the one-shop-stop mindset of millennials, brands have started redefining their social media strategies.
Social media has now become a dedicated sales channel to target their potential audience easily.
According to a recent survey, social media network user base will reach to 3.09 billion by 2021.
Instagram is seeing more than 1million photos and videos uploaded to it every hour, many of which are posted by millennials, showing that brands should focus on attractive photos and videos to grab their attention and rise above millions of competitors.
More than 35% of the workforce will be made up of millennials by the end of 2020, showing this can be the right moment for brands to tap into the key market.
As of 2020, millennials have strong purchasing power, satisfying them will be the only way for brands to attain growth.
Reach millennials on what they care about
Social media Analyst came up with seven key elements that matter most to millennials.
Human & Animal Rights
Most millennials prefer to purchase from a brand if the product supports a cause. Brands that support causes that their potential audience care about can fly high using social media.
Walgreens, a pharmacy store chain based in the US, made an iconic marketing campaign on Red Nose Day that took the United States by storm.
The campaign raised $18 million through the sale of over 13 million red noses at the Walgreen stores.
This campaign encouraged customers to purchase red nose and wear them for group pictures for Red Nose day.
The mission of this campaign is to end child poverty by funding programs that keep children safe, healthy and educated.
Toms, a shoe company based in the US, came up with a campaign - Every Purchase has a purpose and promoted it heavily through various social media platforms.
The campaign focused to donate additional products to the person in need for every product purchased.
Social media platforms gave brands a lot of information and data about followers and audiences.
With a social media analytics tool, it is very easy to follow your potential customer's mentions, conversation, negative comments, reviews which in turn helps to identify millennials' core interests, behavioural patterns, opinions and past shopping experience.
With the help of these insights, you can identify the niche millennial segment that best suits your brand.
Brands should concentrate on one niche age group with similar characteristics and campaigns accordingly.
When a consumer buys from an e-commerce website, they have to pass through a lot of processes to finally make a purchase.
This process can cause a user to bounce off the site as too many steps results in bad customer experience.
Now, with social commerce, users can engage and purchase a product through a social media platform, which can boost engagement and deliver higher conversions.
COLLABORATE WITH MICRO INFLUENCERS
The biggest buzzword for 2020 will be the word 'Micro-Influencer'. But some brands still envision it being related to expensive, celebrity endorsements.
To clear the air, never under-estimate the potential of a small-niche creator. These micro-influencers have more authentic relationships with millennials and thus, are better at establishing trust.
More trust, more conversion rate
Even business giants collaborate with micro-influencers to reach out to diverse audience to tap in engagement and trust.
Each micro-influencer has a loyal fan following, these followers trust the contents and endorsements because they are most likely to be honest.
Samsung collaborated with several micro creative influencers on Instagram, having followers less than 25k, to promote the Galaxy Note 10.
Sperry, a shoe brand, worked with more than 100 micro-influencers on Instagram.
Sperry invited Instagram users who were already sharing high-quality photos of its products, to develop contents for its official Instagram account.
Photos portraying Sperry's shoes in high altitude exotic locations became widely spread.
Audible, Amazon's Audiobook launched a campaign to promote the app with photographer Jesse Driftwood.
Although, Jesse has a less than 1 Lakh followers the Audible marketing team realized that his fans are more loyal and engaged.
Audible also gave Jesse the complete freedom to promote the app in a way his audience can relate to.
As the internet continues to get stuffed full of advertisements, brands need to work harder to be distinct and connect with people online.
You know how to get your products reach customers through methods like targeting, paid campaigns, SEO and collaborating with influencers.
But once your products reach your potential customers, is it actually having an impact and creating connections like you hope? This is what matters.
Brands need to stay far away from dishonest content as possible. So the take away message here is honesty and transparency.
Project honest and real perspective about your product or service whenever you can. Humanize your brand with your social media content.
When it comes to conversions or sales, skip the calls to action with social media every once in a while.
Strike an equilibrium between posts that are meant to convert, and posts that are meant to simply connect with your audience.
Online connection > Online conversion
Make people feel like they're part of your brand, create positive brand moments, share contents posted by your consumers.
If you're doing things right, they'll obviously like your brand.
Fake Posts can be easily identified and millennials tend to disconnect from brands that try to fake authenticity, one-fifth of consumers admit to unfollow a brand on social media due to inauthentic content.
Social media marketing strategies are about building trust that can convert a lead to sales, and authenticity is the key driver of that trust.
By driving an authentic approach to social media, brands can strengthen their legitimacy to showcase their unique voice and personality.
BLOG POSTS WORKS OUT EASILY
More than 23% of millennials like to research before they buy something.
With unlimited access to information, people have more ways to research and educate themselves on the products they're interested in before they enter the sales funnel.
The main reason millennials spend time researching is because they spend a lot of time online.
Almost 70% of millennials use their phones to research prices while 68% use their phones to read reviews.
More than, 45% of the millennials prefer to read blog posts to gain more information and authenticity of the brand.
Millennials like to research, they like to feel confident that the brand aligns to their values, and they want to make sure they're getting the best price for an item, so they depend on lot of channels to find this information.
One such important medium is your Blog.
Write informative blogs, make sure not to waste the time of your readers and point out more in-depth insights. Get creative with the landing pages you use to market to millennials.
The best converting landing pages have lots of appealing images and videos that are informative, and engaging.
Blog posts have the potential to increase backlinks as the information is relevant to the ad content.
According to Pew Research center, 53% of millennials use tablets, and 19% of millennials are Smartphone-only internet, they exclusively read reviews, comments and information on mobile devices.
Millennials are using their devices to do everything from checking their social media apps, browse their favourite websites, and even shop.
Adopting a mobile-first approach is a must to reach out to millennials.
At least half of your potential sales, leads, and other critical conversions are starting from mobile devices.
If your conversion path is not optimized for mobile, you are turning off a potential future customer because of bad mobile experience.
Certain strategy to attract millennials:
Make your website mobile-friendly
Use location-driven marketing for sending out targeted marketing messages
Create attractive, appealing and easy to use user interface
Millennials want simple information, eBooks, blog post and useful video contents.
They appreciate innovation, authenticity, expertise, and follow influencers.
Brands have more chances to appeal to them using these techniques than communicating your product only through facts.
2020 is just getting started, which means there's plenty of time left to revise your digital marketing strategy to better target the Millennials.
If you're struggling to understand audience's perspective, we can help.
Reach out to us today. We'll guide you through various strategy to help your brand amplify your best content across millennials.