The number of millennials in the United States is almost a quarter of the entire population—around 80 million people—making them the largest generation in United States history. They are between the ages of 20 and 37 and many were born after the internet.
This generation has seen a tidal wave of change brought on by the digital world. Their social world has also changed dramatically from the previous ones. Apps such as Facebook, Instagram, and Snapchat offer platforms for expanding their reach. What makes them so different? Quite a few things.
Millennials and Mobile Apps
Mobile point of sale and LED displays appeal to their affinity for technology. Take a look at the Apple Store and you will quickly see that there are no cash registers in plain sight. All of the associates have hand-held devices that process transactions.
Almost 77 million millennials own a smartphone. This is equal to Gen X. And, when considering platforms, Android and iOS are almost equal in market share, while Apple is the top manufacturer.
Being mobile is about optimizing your website for a smaller screen on smartphones, as well as embracing some of the most popular apps, such as Facebook, Twitter, or Instagram.
Millennials and Social Media
Without millennials, Twitter would be half as popular, because over half of US Twitter users are millennials. Snapchat, Facebook, and Instagram are even more popular for millennials than Twitter. Through these apps, they share recommendations, show product shots, and give free recommendations to their friends and followers with similar interests.
All of these apps are simple to set up and use, which is why they are a huge hit with this age group. And, maintaining a business account should take less than an hour or two a month.
Millennial Consumer Behavior
Selling to millennials can be a challenge because they are cost conscious. Some are beginning their careers, so they are looking to save a few bucks, especially on big purchases. They are always looking for a deal with promotional offers, coupons, and other incentives. These become entry points for them to see what your company is all about.
Their needs are very different from the previous generation (Gen X). Which is why it’s important to change your message in order to market your brand to attract their attention. In return, they are more likely to give recommendations and referrals. A quick way to do this is to put in place a referrals and rewards system. It will keep their attention focused on your business.
A Different Generation
The biggest generation in history is also the most unique when compared to its predecessors. Their attitude toward ownership has spawned a “sharing economy.” This is a fee-for-services based economy, not based on giving free services to help a friend. An example of this is ride-services company LYFT.
The best way to participate in the sharing economy is allowing millennials to see how others are using these products in everyday life. A gallery page on your website filled with user-generated photos and videos is a great way to do this.
Reaching Millennials
If it’s possible, set up supply chains locally in order to minimize problems with inventory. Having things local may allow for more customization of products and services. This is a very attractive selling point for millennials. It can also save money on shipping costs.
When selling to millennials, give them a reason to trust you and they will reward you with years of loyalty. Even with all of the alternatives available, they remain the most loyal to brands they love.