Targeting High-Value Millenials

Why must you target Millennials in your strategy? Because once their loyalty is secured, they are more likely than non-Millennials to share their love of your brand, product, or service with others. Furthermore, once you gain their loyalty, they will often spread the word for you, especially if you help them do it. How do you go about attracting this key customer base?

Use multiple channels. Millennials are multi-channel researchers. A study of their travel planning habits found that Millennials use an average of 10.2 information sources during the planning stage [1].

Don’t provide irrelevant information. Millennials like the ease and convenience of content, so target and personalize the message! Get to know what type of information they are looking for and how they want the information shared before you move them into the sales funnel. Respecting channel preferences are critical to these consumers.

Shorten the timeframe. Millennials use a lot of devices and draw on lots of information sources during the research process, but they make the real buying decision fairly quickly. If you are a brick-and-mortar store, adding QR Codes to hang tags, consider product packaging and in-store displays. They are excellent ways to take this audience directly to customer reviews, product comparisons, and feature-rich product videos that can help them make the decision right then and there. Voila – ease and convenience!

Make it easy to share. According to the Boston Consulting Group, Millennials are twice as likely as others to share pictures or experiences online using their mobile phones [3]. So help them do it! Create new incentives for social-media sharing such as “Post a picture of yourself in our store on Facebook or Instagram and get 10% off immediately!”

Take the time to get to know your audience. Refine your strategies to woo them. After all, what could be better than attracting the right set of customers and allowing them to be your brand advocates?

(Data and statistics from “Top 10 Trends of The Next Generation of Travel: The Millennials” by Hotel Online)

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