Marketing has always been – and always will be – about relevance. Knowing your customer, getting the timing right, considering cultural relevance and communicating in a way that not only resonates, but motivates engagement. If showing up is half the battle, saying the right thing at the right time is the other half. Marketing relevance hinges on identifying your target market and developing highly accurate personas to guide delivery of messaging, products and services. Get it right, and you increase leads and sales for your business.
For many companies, one of the most misunderstood buyer groups are Millennials. The sheer number of Millennials and their wide age range present challenges. Most often, this generation is considered anyone between the ages of 18-34; born between 1980 and the year 2000. Some sources report Millennials are up to 1/3 of the US population. The US Census bureau states Millennials have surpassed Boomers as the largest generation in the US and now represent 25% of the population.
Determining your target market ventures much deeper than simply identifying a generation. However, there are similarities within the Millennial generation demographics and behaviors that can assist you in understanding and reaching them.
Social and Relational Connections
The biggest and possibly most obvious is their use of social media. According to businessgrow.com, a 2017 survey revealed that 30% of Millennials engage with a brand on social at least once a month. It found 58.9% follow a brand before purchasing a product from them. Millennials are two times more likely to turn to social over phone or email for brand communication than any other generation. The study also found that 38% of Millennials follow brands just for their entertainment value.
What does this mean for you? If your target market includes this large segment of our population, it pays to be PRESENT ON SOCIAL. Being present doesn’t simply mean posting a random meme or image a couple of times a week, though. Learn what your consumer looks for and cares about. Connect with them on a relational level. This will lead to likes, shares, and purchases.
It’s predicted that by 2025, as much as 75% of the buying workforce will be made up of Millennials and they’ll account for over $1 trillion dollars in consumer spending. Making the effort to be social and relational are worth-while investments for reaching and engaging this group that is likely already a growing part of your customer base.