According to ComScore, the purchasing power of Millennial’s is estimated to be $170 billion per year.
Yeah, that’s billion with a B.
This demographic is vital to any business—in the U.S. there are about 80 million people who fall into this category and by the year 2025, 75% of workers globally will be comprised of Gen Y’ers.
So who are these people and how can you engage them in the digital space?
Who are Millennials?
Millennials, also called Generation Y, are consumers who were born between 1981 and 2000. They were born into a world that had the Internet and cell phones, and they use technology at higher rates than people from other generations do. They are fearless, outspoken and often seen as “entitled” by their elders.
How to Engage Millennials Online
Having grown up with the ability to connect with the world at their fingertips, this plugged in generation is able to Facebook on their laptop, tweet on their smartphone, watch TV and carry on a conversation all at the same time.
With all of this going on, how can you possibly capture their attention long enough for them to gain interest in your brand?
There are many ways, but here are two ways to engage millennials online to get you started.
With so much going on all of the time, you aren’t going to stand out if you don’t make the effort to do something extraordinary. According to Ad Age, 80% of millennials have said they want to be entertained by brands.
Millennials appreciate brands that appreciate them. They enjoy getting a trophy just for participating. So make them feel special by offering to let them be a part of your company and brand. Ask them to produce content, come up with product ideas, vote for new flavors, whatever it may be! But don’t ask for this if you don’t intend to follow through and use some of their ideas!
A brand that entertains and engages its fans is Old Spice. They have over 2 million likes on Facebook. Their off the wall, entertaining and totally outrageous marketing captures the attention of just about everyone, especially millennials.
So how do they do it?
Old Spice keeps their fans engaged by inviting them to join in on the fun. They look at comments and search for interesting ideas that could help them further the characters in their ads. By allowing the fans to create content, the company never runs out of ideas, and the best part is that they know the material will appeal to the people who they are trying to target because they created it!
The key is having a clear picture of what millennials will find interesting about your brand and then developing an entertaining content strategy around it.
Give Them Something in Return
On top of letting them be a part of the brand, provide them with a special offer for engaging with you online, like providing them with a promo code when they like your page on Facebook. Taco Bell is a master at this—they often post deals and national offers for their Facebook fans, like free churros and free Doritos Locos tacos.
This generation is graduating from college and entering a scary and volatile workplace. They want to save money and love getting a good deal. If you can engage and entertain them, and offer them a way to save money, you will gain their attention. If you can’t afford a mass coupon, try holding a contest where the best idea or user generated content wins a prize.
Have you had success or dealt with failure when engaging millennials online?
Let me know in the comments!