The millennial generation is the most discussed generation among the age band. They are the young blood with high enthusiasm towards achieving their goals. They live a fast and target-oriented life. Generally speaking, these guys are the ones that made marketing a huge challenge. They have always been a debate for demographers, as they’re the core group of buyers in the market. Yet, very few successful businesses know about this fact. Those who know this fact, are already producing products according to their needs. Thus, today we discuss why marketing is the Best ROI for your business.
Best ROI & Awareness Against It
Awareness started rising after authors started writing about them and started telling businessmen about their importance. Conversely, it is very important to understand this generation. As, it is the biggest, and the most developed group born ever. Business circles have been in constant study throughout this period as Millennials are diverse and they do not go in line with common qualities of things. Researchers and analytics have seen a huge shift in the economy due to millennial involvement.
They’re Up-To-The-Minute With Everything
With an urge to stay updated and equipped with the latest devices, they invest too much time online using a free hotspot or a data plan on their smart devices. Websites like – Instagram, Facebook, Twitter, and many others are their nests. They may spend a whole day talking and texting among their social networks. This is not only about using technology that just fulfils their needs but they are always looking forward to having those fiction gadgets seen in movies to be available in their actual life. This is the reason why you find their personal belongings reflecting narrative characters like Ironman, Superman, Batman and so forth.
Businesses Need To Focus On Targeting Millennials Via Marketing – Their Best ROI
Millennials are highly curious, intelligent, and very much conscious about authenticity in every aspect of life. Be it food, cosmetics, electronics, cars, technology or anything else. They are educated, open to new experiences and value their relationships. At this current time, businesses all over the world are mainly depending upon the millennial generation as they are not only the largest population group today – but also the trendsetters, critics and have the largest spending power than any other generation.
What About Demographics?
Besides being the largest demographic group in the marketplace, the millennial generation has different views regarding marketing services provided to them. If you don’t provide the best in class services with enhanced changes that represent the future, then for sure you are not up to the mark for this largest consumer tail. They don’t really mind changing the service provider if they’re not pleased. Thus, brands are changing their marketing tactics, quality and protocols according to the millennial generation’s choices and behaviour.
Why Millennials Make A Difference Now?
Although generation Y is intelligent and sharper than older groups, we must appreciate the developments, ideas, inventions and basic concepts of science and technology generation X has laid. Generation Y is simply reshaping them according to the new age and inventing new things where needed.
For example, Generation Y did not invent the telephone but they worked with their intelligent mindset and combined it with the technology we now have: Cell phones, Tablet devices, Satellite phones that we use to text, talk, share intently and instantly. Not only the hardware but software or what we call “apps” today has brought a lot of change in the ways we communicate. To name a few, Facebook, WhatsApp and Skype are the best examples.
Why Marketing Is Best ROI?
For the obvious reasons. You’ve to connect with your customers where they are available every second of every hour. If you don’t have social media interaction with your customers on every platform – you’re not EXISTING for them. This is the brutal reality of being a tech-based society. Millennial targeted products and industries are getting high attention from their large customer chain. Every startup and old brands, who do not have a marketing research and analysis department in their organization definitely need to know the buying pattern of generation Y. If you truly want to see your numbers multiplying, you really NEED to acquire these new trends.
Create Brand Awareness Through Social Media Platforms
Brand awareness is not working through word of mouth anymore. You have to be able to reach your customers where they can associate with your products and services. Your products should be able to meet the latest trends, to create the need for BUYING.
Mobile Coverage Is Very Important
Each and every one of us is using a smartphone now. These data-enabled phones make connecting easier. If your brand can create an application and share it through Google Play Store, you can get coverage better than the flux signs. Further, mobile apps can help your reach to spread through continents within seconds of being launched.
Best ROI Than Ever!?
There is no doubt that the best ROI comes with social media marketing. Almost every person has an account on Facebook, Twitter, LinkedIn, and Instagram. Your brand can create an official page on each of these platforms, and share evergreen content to attract your customers. Further, you can easily explore your niche, and determine what your competitors are offering. In this way, you’ll be able to improve your products and services with hands-on infographics.
Electronic retailing is another big example. You’re a big store, but if you are not online, you are only storage for them. According to a survey conducted in Malaysia, about online ordering, they concluded that for famous fast-food chains. Only 7% of orders for home or office delivery are being placed on business phones. Whereas, 93% of orders are being placed via the web or phone-based apps.
This versatile and most diverse generation has value for both – time and money. They quickly make decisions and are very successful in their life. Further, they use social media very frequently to communicate with the community.
The Take-Home Business Note
Every brand is outdoing the race of social media marketing nowadays. We already know through research that our customers are unique, and need different tactics to stay connected. So, if you haven’t already planned 2018 as a successful year for your brand, now is the time. You can succeed with a strong social media campaign and actually generate quality leads. Further, now you can easily retain your customers and also build your brand with a strong fan-following. Let us know what your current marketing strategy in the comments below, let us see how it is different from the competition you already have.