We’ve Discussed Who Millennials Are? But What Makes Them Buy?

We’ve all now probably went back and forth within our perspective teams asking ourselves the same question, “How do we sell our product to millennials?” This question may have kept some of us up at night, perhaps it was the catalyst for a shouting match, it may have even caused you to call, text, send a telegram (generational humor), to the nearest millennial you could find to get their take on the subject. Only to find out that even millennials themselves don’t have a clear-cut answer on what it takes to get them to purchase certain products over others. Each instance draws us closer and closer to pulling our hair out. Honestly, as a millennial myself, I find the topic frustrating.

The numbers are there. According to ComScore, millennials are the largest generational cohort in the United States and spend over $170 billion annually. We also know that millennials are nestled within an age range that puts them somewhere near college. Whether they are currently enrolled or graduated within the past 10 years or so (provided they attended college), millennials are dealing with the highest cost of college attendance proportionately in our nation’s history with the average student loan debt hovering around $30,000. This leads millennials to be a particularly financially cautious generation. So in my research, I think I’ve pinpointed three central concepts to think about as we all face the issue of marketing to millennials.

Let’s Have A Conversation

Millennials are a hands-on generation from the standpoint that they want to feel as though they are a part of the conversation that builds a brand and their products. Utilizing your company’s Twitter feed to respond to and drive conversation surrounding your brand provides an authentic and inclusive environment to rally this generation to become your brand’s champion. Listening is not the final step. The next step is to answer to these demands by providing the product that they’ve all been clamoring for.

Don’t Do Too Much

As brilliantly communicated in a recent post by Bobby Borg, many millennials have built a resistance to condescending motives by parents, teachers, marketers and the like and have become able to sniff it out from a mile away. Marketing efforts must be sincere and must connect synchronously to the brand’s values. Millennials align themselves with brands that champion social causes they care about. Gun control, race equality, gender equality, environmental consciousness and many other hot-button issues are at the center of millennials values and they want to shop with companies that stand with them. However, talking the talk without walking the walk just to get millennial buy-in can have adverse effects. Also, saying that you are cutting-edge is not enough to get this audience on board. Millennials are used to fast technological innovations, Affirm.com states that what creates more brand loyalty are items that provide incremental value. Lasty, this probably goes without saying but it would help a lot to avoid the use of the word “millennial” in ANY marketing effort that your brand comes up with.

Reach Millennials Where They Are At

Make it easy on your brand. Bring the shopping experience to where ever the millennial finds themselves. Entrepreneur.com states that millennials check their phones 43 times per day. As a brand, if you can just find your way onto a millennials phone one time per day, you are doing a hell of a job to increase engagement. Millennials are also 71% more likely to listen to music via music streaming services such as Spotify or Pandora. Five out of six millennials connect themselves to brands via social media. But social media isn’t the only bring your brand to the millennial. Understanding the seemingly infinite amount of shopping choices millennials have can help as well. Some like to go in stores, and then go buy things that they saw online. Some receive gifts that were ordered online but would like to take the item into a store to return it. Being conscientious of the many ways that this age of shoppers operates puts your brand at an advantage as you now can strategically place items in your store by returns desks and the like to increase sales.

All in all, there is no one sure fire way to sell to millennials. But by making sure to talk with them and not to them will certainly gain you favor in your quest. Making sure to not do too much and allow your brand’s story to inform the way that your brand champions social issues that millennials care about provides a level of authenticity that this generation remembers when they are sorting through their purchasing options. And lastly, making it easy on your brand, as well as the millennials to find your brand will only aide in increasing sales from this generation.