Oh, good old Generation Y. If you haven’t been living under a rock your whole life, then I am sure you have heard the reference of Generation Y. But who are they? Millennials, also referred to as Generation Y, are the people born between 1985 and 2002. These are the youngster entrepreneurs, hipsters, startup gurus whose unique talent is creating a life that is extremely easy for them. Another skill set of there’s- TECHNOLOGY. They grew up in the era when technology became a way of life and this is reflected in the consumption model.
Millennials are anti-authority and do not know what long-term planning is…good news though, they’re not afraid to try new things. They change jobs at the drop of a hat or pick and move across the country with no hesitation. They live a healthy lifestyle, which requires them to study the back of a label on anything they purchase or do their own investigative research – they will not be fooled by false advertisements.
So, how do you promote to a group of individuals who lose interest quickly and enjoy doing their own research? Read the article below to find out.
How Generation Y Consume
- Generation Y consume products they believe in. They prefer advertising that includes a mission, so they get a sense of who this company is and can justify why they are purchasing from them.
- Growing up in a world of social media, this group is visually oriented. Videos and pictures will attract them to advertising.
- They prefer offers with bonuses, discounts and of course, gifts. They are looking for instant gratification and a free handout.
- They are not afraid to spend their money. This group prefers buying on expensive, high-quality purchase, rather than multiple cheap ones.
Let’s get to the good part- How to sell to them:
Millennials want to feel important. The consumption system works best if “I” is included. For example, a personalized newsletter just for them will go a long way or an advertisement of something on sale they may have looked at in the past but didn’t buy.
Next, use social proof. Remember how we mentioned that Generation Y would conduct its own research on products. You could save them the hassle and get a quicker sale if you include the opinions of similar consumers in your advertisement. Trust is non-existent to millennials when it comes to advertising. They do not want to be sold on an idea; they want proof. A great way to do this is by using social influencers to represent a product or professional bloggers. Reputation is everything to millennials.
Finally, make sure where you advertise online is easy to use and functional. Generation Y is continuously online and want the opportunity to purchase at any time of day. This means if you are advertising your product, it better be able to load fast and clear on a desktop, tablet, and mobile. Don’t be afraid to use multiple social media channels to promote your product as well. Millennials don’t believe in only using one channel to research a product, so you’ll need to become acquainted with using multiple social media outlets.
What have you learned today about millennials?
You need to:
- Promote with gifts/discounts/etc
- Don’t force them to buy, instead, give social proof
- Use multiple social networks