As an enterprise marketer, chances are that the Millennials generation is a hot topic in your workplace right now. There are almost 85 million Millennials in the U.S., making up more than a quarter of the entire population. With the strong influence they have over older generations, as well as their annual spending power, which exceeds just over $200 billion, Millennials should be a focus for any brand looking to maximize revenue and brand engagement for the long-term.
Yet, with their generational dominance, Millennials also bring with them unique mindsets that make traditional advertising methods ineffective for this emerging generation. In fact, 84% of Millennials are not swayed by traditional advertising. So, as enterprise marketers set out to attract local Millennials, it is important to understand what motivates this group of consumers to make purchases and form brand loyalties.
Millennials Love Their Smartphones
Needless to say, Millennials spend a lot of time on their phones. Millennials are the top mobile users in the United States, with 87% of them saying their smartphone never leaves their side. Nearly 40% of Millennials say they interact more with their smartphone than they do with their significant others, parents, friends or co-workers. Enterprise marketers can capitalize on the fact that nearly 60% of mobile searches have local intent by implementing a mobile-optimized website and creating location-based content and offers that help users fulfill their intent quickly and easily.
Millennials Need Social Engagement
Millennials rely on social media and peer-reviewed content in order to make informed purchase decisions and determine which brands are deserving of their trust and loyalty. Almost 90% of consumers read reviews before choosing to visit a local business. They expect brands to not only be on social media, but to engage them on their preferred platforms. Brands who engage with their consumers are more likely to build loyalty. want to engage with brands through social media, and are more likely to become a loyal customer. Brands can optimize for social by claiming relevant profiles on local-social platforms, such as Facebook, Foursquare and Yelp, and by implementing a review response strategy that shows how your brand quickly and effectively handles mistakes, when they do happen.
Millennials Crave Authenticity
In a world where the lines between what is credible and what is a scam are becoming increasingly blurred, Millennials have come to value authenticity more than other factors when considering a brand or product. In addition to engaging customers, enterprise marketers can increase brand authenticity by concentrating on the value they provide to the consumer. Create offers and content that hones in on the local value of a specific store and get more personal by creating content and offers that correlate with local events, seasons and holidays.
Millennials Value Their Time
The technological advancements of the last decade have uniquely positioned Millennials for the on-demand economy, empowering consumers to get quick answers and raising their expectations for immediacy. Brands who do not provide Millennials with a return on their time. Enterprise marketers can create more efficient brand experiences by integrating emerging solutions such as chatbots, in-store pick-up and order-ahead features, which significantly decrease the time a user has to spend standing in line, waiting to order, etc.
Millennials Want Personalization
Part of what Millennials despise about traditional advertising is the one-size-fits all mentality. While social engagement is important to Millennials, they also put a high price on individualization. Generationally similar, Millennials still view themselves as diversely situated to their peers, and they want brands to recognize and highlight this individualization through personalized content and offers. Sixty-three percent of Millennial consumers are willing to share data with companies in exchange for more personalized experiences, and brands can harness this data to better understand their audience and push relevant offers based on consumer searches, prior purchases or other demographic information.
While Millennials have high standards for the brands they choose, research shows that Millennials are one of the most brand-loyal generations today. Start engaging these consumers on their terms and build long-term brand loyalty by downloading, The Engagement Stack, a free whitepaper sponsored by Brandify.