Millennials are rapidly coming to dominate today’s market, evolving into big spenders who are eager to try out the latest products and services. Increasingly, companies large and small alike are realizing the value in marketing exclusively to this audience, and are trying to make changes to make their business more millennial friendly.
So, what exactly can small entrepreneurs and massive corporations alike do to make their company more attractive to millennials, and what are the common pitfalls businesses encounter when trying to cater to the latest generation of spenders? Follow the tips and time-honored traditions of successful companies, and you’ll find yourself inundated with more millennial customers in no time.
Bringing your company into the 21st century
At the heart of any business strategy to woe over millennials is a dedication to bringing your company into the 21st century. Adapting to the digital age, and relying on the power of modern digital devices and platforms to optimize your business, will help lure in tech-savvy millennials and cut back on waste at the same time. Corporate America is rapidly changing to accommodate a new millennial workforce and consumer base, and you should rely on the experiences of seasoned veterans when making changes to your own workplace if you want to avoid costly failures.
The first step should be establishing a vibrant social media presence. In today’s business era, marketing takes place primarily online, and those who aren’t represented on popular platforms like Twitter, Facebook, and Instagram are losing out on countless customers who otherwise might love their business. Having a savvy PR team capable of tapping into the latest trends to go viral is thus vital for your business’ success with millennials.
It’s important to remember not to be patronizing; companies like Wendy’s have enjoyed massive success with hip social media campaigns, but others who come across as too strong will repulse potential customers and appear out of touch. Be consistent and fair with your approach; don’t act like something you’re not, and ensure your products and services match the alluring traits you market to consumers. Millennials don’t like to be fooled, and will leave scathing reviews online about companies who have burned them.
Follow common marketing-to-millennials tips, and your business should be fine. They may be young, but millennials aren’t fundamentally different than humans of other generations; they want and expect similar things that you do, spend their time doing origami, and, if treated with respect and targeted efficiently with modern media campaigns, will be a consistent boon to your business.
Keep an eye on the future
It goes without saying that millennials are the future; this rapidly growing demographic will soon be the dominate age-group in our society, finding itself embedded in structures of power and making important political and economic decisions. Catering to the next generation of leaders requires keeping an eye on the future, and your company shouldn’t be short-sighted when it comes to planning its approach to the millennial market.
Investing in your workers, particularly your younger ones, will help keep you relevant in the long run and keep you in touch with youthful marketing trends. Education campaigns offered to your employees and consistent training sessions to better them will help you remain connected with a customer base that’s increasingly educated itself, and keep your firm tech-savvy enough to remain afloat in the increasingly digital tides of the modern marketplace.
Keep an eye on the world abroad, too. Millennials are overwhelmingly seeking out positions abroad, and will jump on any opportunity to work overseas or employ foreign services or products. Tap into the powerful forces of globalization, and diversify your workplace as well as your consumer base, and you’ll soon find success in places your company didn’t even know about before.
Ultimately, making your company millennial friendly is about embracing change and fostering a digital approach to modern business challenges. A welcome, accepting culture that appreciates transparency will get your company far, too, as the fight over millennials wallets is often decided by winning over their hearts with savvy social campaigns. Stick to your ethical guns, and don’t pander to your audience, and you’ll soon find yourself having more success with millennials than your company knows what to do with.
