How to get millennial customers

This article explains what the millennial generation is and what its specifics are, and also addresses the issues of its importance for modern business. And, of course, the article answers the main question: how to attract the attention of millennials?

One of the main laws of successful marketing is to have a clear understanding of your target audience. Fortunately, modern technologies offer a wide range of options for tracking the age, gender, and geography of website visitors.

However, how much can knowledge of a customer's age or tastes do? To successfully sell your products, you need a deeper understanding of the customer. To do this, you should refer to sociological research in recent years. According to them, the new young generation is Generation Y, the millennial generation.

Who are they? The word "millennial" can be translated as "millennial". This generation includes people born at the turn of the second and third millennium, on the threshold of the high-tech world. The term "millennials" is directly attributed to the researchers of this generation, William Strauss and Neil Howe. But the media often uses other names: the Next generation, the network generation, or the Peter Pan generation. The imagination of journalists provides a rich choice of labels. However, sociologists argue that the younger generation is represented by such diversity and heterogeneity that no generation before them has ever seen.

Many studies have been devoted to the study of this phenomenon, but we will not dwell on this issue in detail. Our area of interest lies in a slightly different plane, namely: is it possible to find a common approach to this generation? How can we effectively influence this generation?

In this article, you will find answers to these and other questions:

• What has changed in the market?
• What is the millennial generation?
• Why is it so important to attract the attention of the younger generation?
• How to win the trust of millennials?
• How to get the attention and loyalty of Generation Y?
• What has changed in the market?

Generation Y, also known as the millennial generation, has now become a full-fledged representative of the market audience. This generation includes people born from the 1980s to the early 2000s, i.e. mostly solvent young people who are accustomed to technological innovations and an accelerated pace of life. They can no longer be ignored. And to attract the attention of such a sophisticated audience, it is important to correctly assess their desires and needs.

What is the main difficulty? In the 1990s, there was a decline in the birth rate. This means that the younger generation can offer a much smaller share of the young audience. In addition, this generation is very different from the previous one in its attitude to media resources. All this requires finding new strategies for working with the audience.

What is the millennial generation?

How can you briefly characterize this new generation? Millennials don't have heroes, but they do have idols. This generation is on the cutting edge of technology, involved in all digital processes. As mentioned above, Generation Y is very diverse, but they all share some common traits.

The millennial generation can be characterized by the following features.

1. Millennials are accustomed to quick access to a large amount of diverse information.
2. They are accustomed to multitasking in the use of communication mechanisms.
3. Generation Y members know how to use search engines to quickly access the data they need, and are able to distinguish between safe sources and those that pose a possible threat.
4. The millennial generation does not want to pay for content, but is willing to pay for the opportunity to be part of something, to belong to a certain group of people.
5. The younger generation has a different attitude towards material goods. Let's dwell on this point in more detail. The main problem for advertisers is that the younger generation is not eager to pay for any goods. For the most part, representatives of this generation prefer to rent things for a while rather than buy them outright. This leads to the problem of monetizing this audience.
6. Millennials expect a lot from a product, and it's hard to surprise them, as they are surrounded by huge flows of offers and information. They have already seen too much.
7. The previous point leads to a simple conclusion: the new generation feels the need for something unique and unconventional. These young people are not interested in the simple and traditional, they are eager to see a creative approach even in the smallest things.
8. They attach great importance to product quality and are willing to spend time looking for the most reliable option.
9. It is important for them that the product gives them the opportunity to express themselves.
10. They are characterized by a fast pace of life and constant movement.
11. They give great importance to brands.

You need to engage the younger generation of millennials right now. It is necessary to start building close contact even with the youngest representatives of millennials in order to have a good and reliable customer base in the future.

Why is it so important to attract the attention of the younger generation?

Millennials are currently the most active users of the Internet.
In 3-4 years, they will make up 50% of solvent citizens, i.e., they will become a significant force in the entire audience.
According to statistics, about half of online purchases are made by people aged 18 to 34, which is mostly the millennial generation.

You can't ignore such a tasty sector of the audience. What to do?

How to win the trust of millennials?

To gain their commitment and loyalty

As already mentioned, one of the main features of the millennial generation is their fanatical loyalty to brands. While the previous generation tended to look for more practical options, the new generation is ready to stay loyal to a brand just because of the attachment and love for it.

If you can gain the loyalty of millennials, they will support you no matter what happens

However, do not think that loyalty will be easy to win. To do this, you need to take your audience as seriously as possible, even the youngest members. Don't forget that they are the future foundation of your business, so communicate with them accordingly.

Think about creating content only for the "initiated"

On the one hand, millennials are not willing to pay for access to information. On the other hand, they are willing to pay for a sense of belonging to a certain closed community, for the opportunity to feel exceptional. Similar processes can be observed in the media market. Middle-aged people prefer to receive information from trusted, well-known sources. The younger generation, on the contrary, prefers to get information from narrower and more closed sources. This largely explains the flourishing of blogs on a variety of topics.

You will only benefit by following their desires and aspirations. It is highly likely that creating a closed club of the initiated, offering an exclusive product, will attract much more of their attention than a product for a wide audience. This generation is attracted to exclusivity and selectivity. Make them feel that becoming involved in your brand is not easy, but it is extremely prestigious.

Present useful information in a light and concise way

The new generation has the most severe overdose of information. There is so much information that there is simply no time for careful study. Therefore, if you want to convey important information to the audience of millennials, use only laconic forms of information presentation and squeeze the essence out of the entire volume. No "water", only useful and important information presented in a simple, accessible and visual form. This generation lives at a very fast pace, they don't have time for a long and gradual assimilation of general information. They would rather watch a two-minute overview than read a long and vague article.

Actively work with feedback and respond to it promptly

The millennial generation believes that they know everything better than anyone else. This is an audience that does not accept market conditions, but dictates them. So the brand needs not only to be able to surprise these people, but also to listen carefully to their opinions. Communicate with them so that they understand that you really take their suggestions into account and are ready to update for their sake. Otherwise, there is a serious risk of losing customers.

As mentioned, today's generation is highly media literate. Therefore, don't be surprised if some of your audience members are more knowledgeable than you are about some issues. And such "couch experts" should also be taken into account.

Don't be afraid to update

The millennial generation prefers informal communication and personalization. Meet your audience halfway. Don't be afraid to change the style of product presentation and the way you communicate with customers. Strive for constant renewal yourself to surprise your audience and make them wait for your next step.

Develop different approaches to different audience sectors

Most likely, your audience is represented by different age and social categories. Adapt to your customer. Consider their age and social status. Analyze the information you have to offer the customer exactly what they need. Be a kind of weather vane. For example, different ads can pop up on a website for different users. Developing an individualized approach is more difficult and takes more time, but it pays off and is worth the time spent.

Generation Y prefers not to invest in the long term

Millennials are more interested in short-term investments. They want to have everything at once, here and now, rather than invest in future benefits.

The generations preceding millennials (people aged 30 to 50) consider their own housing and a car to be their main material priorities. The millennial generation prioritizes education, travel, and fashionable gadgets. At the same time, they try to combine education or work with the opportunity to travel profitably. And housing and buying a car are gradually moving down the list of young people's desires. The main values of the younger generation are emotions, interesting acquaintances and communication, and creative self-realization.

Work on expanding your audience

To do this, it is necessary to closely engage with those segments that are not usually part of the target audience.

As mentioned above, due to the decline in the birth rate in the 90s, the main buying audience will soon be halved. So, you need to start looking for additional customer bases right now. So, if you don't want a sharp decline in customers, it's time to expand your target audience and direct your gaze to those who were not previously included in it.

For example, if your product has always been targeted only at a female audience, then it may be worth trying to expand your offer to family men. The same goes for brands that have traditionally targeted men. Don't forget to include younger generations in your target audience - they form the basis of your future customers, so you need to start working with them in advance.

Don't skimp on promotions and discounts

Millennials not only attach great importance to the quality of the product, but also strive to get the best quality with the maximum benefit. That is why the new generation is very favorable to various promotions and bonus systems. For them, this is almost the main indicator of a brand's concern for its customers. All kinds of loyalty cards with clear and profitable offers are of great importance to Generation Y. Promotions, discounts, well-thought-out loyalty systems - all this guarantees a good flow of millennial customers and their repeated visits to your websites or stores.

Present the product as part of a lifestyle

To stand out, to be special, but at the same time to stay in trend - this is the desire of a typical millennial. This is well understood by all large companies, which is why they do not all follow the rule: they do not sell a product, but a way of life.

For example, by selling an iPhone, the company offers not a smartphone with many functions, but high status and success, the latest innovations and reliability, convenience and faith in high technology.

Make your ads unique

The millennial generation understands all marketing mechanisms much better than their parents. They understand their importance as customers. These young people know that they are the ones who decide whether a brand is successful or not.

Therefore, it is important to show them that you are not trying to deceive them or impose something. Introduce new forms of advertising and open communication with your target audience. Encourage customers to leave feedback and reviews. Consider a bonus system for customers who share their impressions of the brand. 

Having a large number of reviews is very important, as the current generation has to compare a lot in the sea of offers in search of the best option. In this matter, the presence of lively and diverse reviews will play into your hands.

Surprise your audience while making it easier to find and choose a product.

Results

The generation of millennials is a generation of experienced, not stupid people who are used to the frantic pace of life and crazy flows of information. This is a generation of high demands and requirements. But if you gain their trust and love, you will get loyal and devoted customers. Be attentive to them, establish uninterrupted feedback, and adapt to their interests. Offer life ideas and a certain status, not just multifunctional or useful products. Don't be afraid to change. Be flexible. Update yourself and look for your uniqueness. This is the only way you have a chance to win over the most desirable audience.