Now more than ever, millennials are becoming an important part of the consumer population.
It’s vital for businesses to understand this group of 20-to-30 year olds and learn to appeal to young consumers. If your e-commerce business is not already millennial friendly, figure out what you can do to make it so.
E-commerce businesses are already relevant to millennials by being online but may not be optimized to the group. Even if they are not your target audience, this group is quickly becoming a dominating demographic of consumers and should be considered. Here are some ways to market to millennials this new year.
Understanding the Millennial Impact
This generation of young people is known for rethinking many of aspects of life and living it their own way. Understanding the way they think, what drives them, and what attracts them is the first step to being able to market to this generation.
Though there are stereotypes of this generation that may not ring true for all, or even many, there are a few things that most millennials relate to. The three most important aspects of millennial culture when it comes to your e-commerce business are:
- Being thrifty
- Shopping online
- Investing in experiences
One of the above-mentioned stereotypes is that millennials live in their parents’ basement. While this is certainly not always the case, it stems from millennials growing up in a struggling economy. Especially if they have student loans, this group of consumers is attracted by lower prices.
Another stereotype is that millennials are always on their phones. While most young adults would argue that their phones keep them connected with their friends and even with people from around the world, it is true that they are generally tech savvy. That means that the easier your business is to find and navigate, the better it will be for this demographic.
Lastly, economic trends show that this group prefers to spend their money on making memories and having meaningful experiences over buying products. According to business experts at Quickbooks, “over 70% of millennials indicated that they’re more likely to buy from a company that’s associated with a charitable cause, even if it means paying a higher price.” This means you will have to show them what kind of opportunity your product can offer, either by making a positive impact or offering a unique experience.
Potential Marketing Strategies
Optimizing your business to millennials is all about making your business and product relatable. This should start with mobile access and optimization, and your goals should include showing off how you can realistically use your product — perhaps in a creative or humorous way — and showing off your product in a trendy way.
Millennials are all about personalization. Traditional forms of advertisement — like TV commercials, billboards, and magazine ads — don’t suit them as they can come off as profit-motivated and distant. To win attention from millennials, you need to find a way to personalize your business to them.
This can be done by featuring a customizable product, sending an event invite, or creating a subscription option. This will also make your product seem unique and enticing, which is a plus for all of your audience. The marketing strategies below will also help personalize and set the tone your business to your audience.
You can also make your business more relatable and attractive through content marketing. This will enable you to show off reasons why your audience should choose your product, as well as give you an opportunity to earn brand loyalty from your audience; the more interaction a consumer gets with your company, the more likely they are to buy from you. Furthermore, millennials tend to prefer products that are associated with a good cause, such as a charity.
Options for content marketing include starting a blog on your website and writing articles or making videos to post on it. Articles should be easy to understand and relevant to your business, but don’t have to be directly about your product. Also consider the look of your website. Since millennials grew up with access to the internet, they have higher standards of what a good website looks like and can be turned off by unsightly graphics.
Social Media Marketing
Ten years ago, social media marketing was a new concept that was not widely embraced. Now, while it’s still relatively new, it’s become an important part of a company’s marketing package. As an e-commerce business, having a presence on social media is an important and useful way to reach potential and existing customers.
You can create social media accounts, like Facebook, Twitter, and Instagram, for your business where you can post fun pictures and updates with links to your website and special discounts for your followers. This is also a great place to show off that great content you created.
Another social media platform you should consider is Pinterest. It’s easy to create pins for your products and ideas with the Pinterest Chrome Extension. This will allow your product and your business to seem more trendy.
When marketing to millennials, it’s important to humanize your business and make your product easily accessible. Make sure to show off your product online, through social media, and in creative ways ,and you will have success with this group of young adults this new year!