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With the baby boomer generation expected to curb spending after retirement, millennials have quickly become the primary focus of every company’s new marketing and sales strategies. According to Forbes, “There are eighty million millennials in America alone and they represent about a fourth of the entire population, with $200 billion in annual buying power.”
It’s no secret that companies who wish to stay relevant need to ditch traditional methods of advertising and come up with innovative ways to capture the hearts (and pockets) of millennials. Here’s a few tips on how you can reach millennials.
Millennials are strongly resistant to age old sales pitches and fluffy advertising. They can detect artificial content from miles away and are determined to outsmart even the subtlest and most subliminal messaging. Trust is a key factor for millennials and the real way to win them over is to build genuine relationships and become the brand they can relate to.
Millennials know the game of marketing and are willing to buy into it as long as they don’t feel like they aren’t being tricked into making their purchases. In other words, cut the flashy messaging and be real – focus on the benefits of your product and trust that it’ll essentially sell itself. The good news is that you save yourself from hours of marketing brainstorming since all millennials really want are the basic facts about the product.
Millennials are weary of marketing campaigns. Therefore they look to peers and fellow consumers for advice on the latest sneakers or gadgets they are considering. Millennials spend ample time reading reviews and researching blogs before making purchases so it is important to know what the critics are saying about your product.
Amazon, for example, has tons of customer reviews that either encourage or discourage potential buyers. Google AdWords has made ratings extensions a key feature in online advertising because they know just how important reviews are to millennials and to all consumers in general. Take note of trending comments and come up with solutions to appease your customer base. For every happy customer might mean 1 or 2 successful referrals.
Remember that we are living in a time where Google is available right at our fingertips. Be sure you are only presenting facts about your product since Millennials can dismantle any lie in a matter of seconds through a quick Google search. You definitely don’t want to get caught up in false advertising claims and have your social media handles spammed with resentful and distrusting customers. Keep your reputation clean and customers happy – again, just be authentic.
Millennials have grown up in a world of constant simulation and instant gratification. The combination of the two can only mean one thing: keep your pitch short and sweet. Millennials are not going to entertain a 10 minute sales pitch on why they should hand you a chunk of their hard earned cash. In reality, you probably have a solid 2-3 minutes of their attention and you should think strategically about how to maximize that time.
When organizing your selling points, be sure to follow all the rules – be authentic, only state the facts, and let the reviews speak for the product whenever possible. Don’t go agonizing over a long, drawn out elevator speech; for millennials, less is more.