5 Ways to Tap the Millennial Market

Millennials are generally defined as individuals born between the early 1980s and the early 2000s. They spend about $200 billion every year, making them an important market to reach. As a result, marketers are always trying to tap the millennial market. How do you attract the generation that was the first to grow up with technology at their fingertips? Discover the five service tactics that appeal specifically to this generation.

Get Social

Since millennials can’t imagine life without the internet, you absolutely need to have an online presence. This presence includes having a website and social media accounts where you can share user-generated content. You also need a way to meet them on their mobile devices. This approach can be as simple as making sure you have a website optimized for the small screens on mobile devices or something more advanced, such as creating an app for your customers.

Put an Emphasis on Relationships

You shouldn’t consider trying to go for the usual sales pitch with millennials because they’re not interested. In fact, they would rather you let them take a look at your website, see what’s happening on your social media feeds, and check in with their friends before they decide if they’re going to do business with you.

You need engaging content that gets their attention and tells them your story. Millennials want to have a relationship with your company, so they want to get to know your team and learn who has pets, what sports they play, and what hobbies they like.

Upgrade Your Point-of-Sale System

Millennials are completely comfortable using their phones to handle financial transactions, and they now expect convenient mobile payment solutions. They use their phones to do everything from buying their morning cups of coffee to completing their banking and financial transactions on the go.

If you want to attract more millennials or your customers are already millennial early adopters, upgrading your point-of-sale system to include near-field communication contactless payment options such as Google Wallet and Apple Pay can give you an advantage over your competition.

Show Social Responsibility

One big difference between millennials and other generations is that they’re very concerned about social issues in this world, and they want to know what businesses are doing to help. If you install solar panels or other eco-friendly forms of technology, make sure you advertise your efforts heavily. Also look into supporting causes or charitable work. For example, millennials love TOMS because the shoe company donates a pair of shoes for each pair that it sells.

Collaborate With Millennials

Millennials enjoy feeling like they’re part of the business. If you’re thinking about expanding a product line or introducing something new, collaborate with your millennial customers and ask them what they would like to see. Plus, don’t forget to ask them if you can make any improvements to your current products or product lines.

As the current largest living generation, millennials have much buying power. With the tips above, you can attract this important customer base and turn millennials into loyal customers.

Image via Flickr by garryknight