A lot of otherwise smart and savvy business owners, marketers, and advertisers have missed out for quite a while on the millennial generation, believing them to be nothing more than hipsters walking around on mom and dad’s dime while actively refusing to consume the way that previous generations had.
What a major mistake and big-time blunder that is turning out to be.
According to research studies, millennials are the largest generation since the Baby Boomers and by the year 2020 are estimated to go about spending close to $1.4 trillion annually — enough to cover 30% of ALL retail sales in the United States alone.
You’d have to be at least a little bit crazy to miss out on that piece of the pie. Thankfully, it’s not too late to start aggressively marketing to the millennial generation by using the inside information we are able to share with you below.
Social media is a real driver in the marketing world today
When it comes to marketing aggressively to the millennial generation you are going to have to completely rethink the way that you go about reaching out to them. Traditional marketing approaches that have worked for decades and decades just aren’t going to cut the mustard any longer.
Research shows that millennials distrust traditional media — anything that is in social media — more than anything else, and if you are using that channel predominantly to advertise your market you are going to find yourself folding up shop a lot faster than you ever would have thought possible.
Pivot and instead take advantage of everything that social media AND social proof has to offer. Create a buzz about your products and services across social media and you will have millennials beating down your door to be your customers.
Get your message out through “Influencers”
Indirect marketing, aggressively marketing your products and services while not looking like you are advertising at all — usually by using “influencers” in your market — is quickly becoming one of the most powerfully effective ways to reach the millennial generation.
Collaborating with celebrities (global celebrities, regional celebrities, and industry celebrities) that have sway over large groups of millennials is one of the fastest ways to improve your standing with this group of customers. This usually means creating aggressive marketing campaigns that work directly with these influencers, often turning the creative reigns over to these individuals and organizations and allowing them to find the best way to speak directly to the market that they have captivated.
Social good is cold hard currency
Companies that don’t just pay lip service to the environment, to society, and to forward thinking ideals are the kinds of companies that win the business of the millennial generation more than anything else.
These consumers are very, very serious about protecting the environment, improving society, and building a better world — and even if deep down they aren’t, they at least want to be able to be seen as the kinds of people that actively engage in this kind of behavior and do business with these kinds of companies.
Authenticity is everything with the millennial generation. Make this a cornerstone and your business will improve dramatically.
Singapore Company Incorporation Consultants Pte Ltd
Address: 10 Anson Road International Plaza #27-15, Singapore 079903
Telephone: +65 66531211