March 18, 2020
Millennials are everywhere. In fact, they are the biggest generation in the US. So, it makes sense that marketers know how to appeal to them. This generation, spanning kids who’ve just finished school to adults who’ve already been working for many years, have the spending power that other age groups just don’t have. And that’s why the importance of marketing to millennials needs to be top of mind for every brand. So, here are some of the trends that every marketer needs to pay attention to.
There’s no doubting that social media is the number one source of millennial digital shopping information. Their social networks are where they tend to turn for new trends. In fact, researchers at Blackhawk found that a massive 55 percent of millennials turned to social media to research their next buy. It also found that 89 percent of millennial shoppers used smartphones to connect to the web each day.
Millennials far prefer to pay using digital rather than traditional methods. PayPal, Google Wallet, Amazon Payments, and Apple Pay are all far more popular than any other method, with PayPal far outperforming the others. Basically, if you’re asking for payments on your digital shopping platform, you need to offer alternative methods. Cyber security and identity fraud are two issues which worry millennials. That’s why they enjoy the security of shopping with gift cards. So, be sure to offer gift cards in your online store so that these can be bought and gifted to millennial.
It is no secret that everyone loves a bargain. And millennials are no different. This price-conscious generation prioritizes price over other factors when making decisions about what and where to buy. Studies have found that millennials are more likely to follow brands on social media if there is a promise of a discount voucher or alerts about special prices. They’re even more likely to spend if there’s a promise of a high-value rebate. Given the likelihood of rebates not being claimed, this is even more valuable to retailers.
A massive 88 percent of millennials opt for buying online and picking up their purchases in store to save money on the cost price. For retailers that do offer shipping, this option creates the illusion of value and saves on shipping costs. The added bonus, this option drives foot traffic to your store, increasing the chance of additional purchases.
Millennials tend to be incredibly conscious of the world around them. They’re more likely to support brands that show that they’re giving back. This is their way of being part of a “participation economy”. They feel like they’re giving back, merely by supporting brands that are doing just that. Companies like TOMS shoes and Warby Parker glasses do well by giving away a pair of shoes or glasses for each pair purchased.
It should come as no surprise that millennials spend the majority of their time staring at the tiny computers in their hands. Email and SMS, or a combination of the two, are how they prefer to communicate with brands. And that means that anyone with an interest in marketing to millennials must communicate with customers in this way. Importantly, be sure to personalize your messages by using their names and monitoring their browsing and buying habits. Email is helpful for keeping in regular touch with customers while SMS is effective when sending time-sensitive information, like a one day sale.
Read more about the benefits using SMS solutions in retail marketing and if you’d like to fully engage your millennial customer base by implementing some or all of these tips, be sure to look at Clickatell Platform. It allows you to SMS-enable any app or website with one easy integration. It allows you to send SMS messages around the world, enabling you to have conversations with your customers in the way they prefer to be contacted.