Recent studies estimate that millennials (often defined as people who were born in the early 80’s to the year 2000) now account for up to 35% of all retail sales. With their market share being this large and constantly increasing, how can you make your company more attractive to a group who is notoriously critical and difficult to please? Here are some ways that you may be able to make your company appealing to a young, but increasingly influential, generation:
Today’s generation is constantly aware of our impact on the environment, and loudly lobby for companies to think about what they can do to help lower carbon footprints, correct climate change, and do right by the earth. Businesses have to take this into account if they want to appeal to and maintain good relationships with millennials and younger generations. There are many different tactics that you can employ to boost the image of your brand as environmentally conscious: selling eco-friendly products, detailing your green efforts on your website, using smaller packaging and recyclable materials, or cutting down on excessive waste and superfluous packaging. Having your business operate while still supporting environmental efforts may be the difference between a millennial choosing your company over your competition.
In this modern age everything is online, not just your business. Using the internet to connect with millennials, of whom 71% report using social media daily, is critical for success. Creating Facebook pages for your company, a Twitter account, using remarketing tools to target your ads on sites they browse, and even posting videos online of your brand’s story can help you reach out to millennials and build yourself a name in their ever-expanding circle.
A current area of focus should be on improving the “unboxing experience.” People are posting videos online of themselves or others receiving, reacting, opening, and enjoying their purchases from the moment the door is open to the moment they have their items unwrapped and in their hands. Hundreds or thousands of people may become acquainted with your brand before ever even browsing your website or seeing an advertisement. When targeting millennials (or any online shoppers for that matter) you should be conscious of this by investing in nicer packaging, branded labels or tape, and thoughtful presentation. All of this will help boost your company’s image and encourage your customers to help out your marketing department with a great unboxing experience video.
The world is becoming ever more impatient and customers are reflecting this in their demands. Faster shipping speeds are preferred, and the customer wants to be satisfied before they’ve even seen their purchase. Packaging is the first thing a customer will see and notice, so having a boring and drab box won’t help you much when the customer is expecting more. Paying attention to something as simple as a colorful, unique label can drastically change the perception of your product, so don’t be afraid to add some life to your packaging.
With companies gaining access to greater amounts of customer data and communicating on one-to-one levels with customers, customized messages continue to grow high in demand. A personalised note can really go a long way towards gaining customer loyalty, particularly with millennials. Showing that you appreciate someone’s patronage can help increase popularity of your business as well as vastly improve your company’s reputation.
Much like a personalised note, a free gift included with the original purchase can really help boost loyalty, reputation, and sales. It doesn’t have to be something big or expensive, but customers always like getting something for free. They say it’s the little things that count in life, and you may find that true when your customer is posting appreciation photos online of what they received, be it the product, the note, or the free gift.
Discounts & Deals
Millennials are notoriously budget conscious and while what they are willing to spend on can vary, they are likely going to be looking for a good deal. With 56% of online shopping carts being abandoned due to unexpected checkout costs, providing deals or even limited-time offers on free shipping can greatly help appeal to those who are constantly monitoring their wallets.
Resistant to advertising, this highly social and unique generation is changing the way companies market. As they grow in age and influence, it’s increasingly important to keep their preferences and desires in mind when trying to grow your business. Whether it’s going green or embracing the unboxing experience, these strategies may be the key to securing the buying power that millennials hold – especially online.