Millennials are now the largest living population, and the most influential group of consumers- meaning for most businesses, appealing to them is absolutely crucial. However, getting this right can be incredibly difficult. With an age range of around sixteen years, where do you start? A thirty eight year old for example is going to be much different to a twenty two year old, meaning it can be difficult to pinpoint exactly who your millennial audience is. However, there are lots of things that this cohort have in common, and if you focus on these things, rather than age specifically then you’ll be one step closer to being able to give them what they want. Whether you’re considering setting up a business or are wanting to tailor what you do, here are some things to bear in mind about what millennials want.
Online presence
Millennials were the first generation to have grown up with the internet, whereas those that followed (commonly known as Generation Z) grew up playing with smartphones and tablets, and never knew a world without the technology we have today. While this does give them similarities, there are notable differences too. They way they see influencers is one of them, research found that almost seventy percent of Gen Zers preferred to see real people in adverts, whereas only 37 percent of Millennials felt the same way. This can give you some clues about what kind of marketing techniques will appeal to this group, with celebrity endorsements and influencers still being a good choice. ‘Hard-sell’ tactics are likely drive millennials away, whereas product recommendations from influencers are much more successful. Millennials are apt with technology and comfortable online, and so digital marketing techniques such as social media promotion and blogger outreach can be effective ways to target them.
Millennial interests
According to Vision Critical, Millennials would prefer a cool experience over a cool product, which is in contrast with the majority of Gen Z. This means businesses that offer things like digital entertainment subscriptions or experience days are well loved by this group. Millennials also tend to prefer something that’s unique over something that’s popular, which can more than likely explain the rise of things like artisanal products, sustainable products and independent boutiques. It’s fantastic news for small businesses, since Millennials aren’t just lining the pockets of huge, faceless corporations. They want something more unique, meaningful and made with love. Healthy food is another thing that Millennials adore, with huge shifts in the health industry happening in more recent years. Veganism is growing year on year, with almost eighty percent of Millennials regularly eating vegan meat, according to Live Kindly.
Tailoring your business
One of the best things you can do to appeal to Millennials is to tailor your business and unique selling point something they’re interested in. If your business is focused on nightlife and/ or entertaining for example, think of how you could make this more appealing to a generation which is abandoning nightclubs. Get onto your roof, put up some safety guard rails and create a relaxed roof terrace for a bar or coffee shop. Coffee is something that most people would associate with this cohort, in fact their consumption is creating important growth opportunities for exports. Sell artisanal beers and small batch spirits, products that Millennials have been shown to enjoy. If your business is centered around food and drink, be sure to add healthy and vegan options, or consider rebranding altogether to appeal to health conscious Millennial customers. Products that are sustainably sourced with low air miles appeal to the environmentally friendly members of this generation.
Knowing what Millennials like to buy and how to target them is key to your success. Overlook this age group and you could unwittingly be overlooking a massive segment of your potential customers. They’re an interesting group, and there’s tons of data and resources out there on them for this reason. Use this knowledge wisely, understanding the sometimes subtle differences between them and other generations could be key to your success.
