With Millennials being the largest generation in the U.S., they will have the biggest spending power than any other generation by the year 2017. Therefore, it is imperative that brands understand what is important to Millennials and do everything necessary to meet and exceed their needs. Brands know that Millennials are more about enjoying an experience rather than just acquiring ‘stuff.’ The question should always be, “How do we make them feel?” and “How do we differentiate ourselves from everyone else in the market?” Brands must not only recognize Millennilas’ needs, but also be willing to adapt and cater to them accordingly. You can accomplish this by following three steps:
1. Socialize
Millennials like to do things on their terms whether it’s shopping, socializing, going to an event, or gathering with friends and family, all while never having to be pulled away from their digital devices. Because this generation is more tech dependent than others, brands need to ensure their online experience is made rich, easy, and visually pleasing. All content must provide value in order to keep their attention and gain their loyalty. In fact, images and videos are worth millions of words and can get 3x more engagement and impressions than just plain text. Add some hyper spotting to the images and promote fan photos, and Millennials will thank and reward your brand by staying engaged and becoming brand advocates.
2. Inform
Millennials do plenty of research before purchasing a product and trust unbiased opinions shared by people they know or even strangers. Brands must be as transparent as possible in all the different ways they do business, and encourage customers to share their experience online. This will help the brand to tell their story through the eyes of their consumer and give Millennials peace of mind. This will create an environement of lower purchasing risk and demonstrates a brands confidence that their consumers have positive things to say about the products or services. When a brand’s number one objective is to give more than it takes, then that is when it wins.
3. Customize
Millennials also like to customize their product or experience and have it delivered at faster lead times than ever before. Brands need to act faster while offering a very personalized experience and make sure that their product or service will fit within the new ways that Millennials are downsizing, often opting for quality over quantity.
Brands must keep in mind that Millennials are outcome driven; they must be shown the big picture and then asked to work backwards. Most importantly, the more human a brand is the happier Millennials will be, so make sure you are not just speaking as a brand but as the voices behind the brand that brings it life every day.
