According to the US Census Bureau, millennials are now the largest living generation. With this in mind, it is important to target this influential audience in order to help your business to grow and prosper well into the future. However, the millennial generation can be a hard market to crack.
What Is a Millennial?
The term “millennials” was coined by William Strauss and Neil Howe in 1987 to refer to those entering adulthood around the year 2000. However, the term is applied more generally today, with researchers starting the generation from those born in the early-eighties to those born in the mid-nineties.
How Millennials Are Changing the Future of Business
This generation is defined by key traits: they love technology, social interaction, adventure, social justice and authenticity. So, with this in mind, here are some areas to be mindful of when trying to prompt millennials to interact with your business:
It is hard to overstate the importance of technology for millennials. One reason mobile devices are so important to young generations is because of the provided access to social media. Not only is social media the preferred way to keep in contact with friends and family but it is also a major influence over expenditure. One of the best ways to get millennials interested in your product or service is to harness the power of social influencers. These are people with huge social media followings who can be used as advertisers to target a very specific audience. This approach to marketing also ties in with a millennial’s love of authenticity. They tend to be mistrustful of traditional advertising and do not like adverts being forced upon them.
Understand Your Audience
If you’re not already using Google Analytics to monitor your audience, you’re missing out on a key opportunity to see how users interact with your business. The free tool tracks click rate and measures online user activity.
One of the easiest ways to understand your audience is to simply ask. Millennials love technology and reveal a lot about their online behaviours: by allowing them to vote and get involved with online polls you can appeal to your audience, conduct market research and also ensure your finished project is fit for purpose.