Millennials, Generation Y, The Facebook Generation, Echo Boomers. No matter what you call them, adults ages 23 to 38 make up a large proportion of the U.S. population—about 25 percent—and their spending power is growing daily. Millennial purchasing power is expected to reach $1.4 trillion by 2020, making them the perfect target demographic.
However, millennials also consume mass amounts of media—potentially more than 70 hours a week—and are flooded by advertisements and marketing campaigns. Social media in particular has become a platform for attempting to catch the attention of this influential consumer demographic. Personalization, direct engagement and responsiveness in social media posts are three ways a company can stand out from the pack when engaging with Generation Y.
- Personalize it
Millennial consumers may dismiss traditional advertising or social media content that feels too much like a sales pitch. Millennials are drawn to brands that feel personal, creative or that match their own values. In a Boston Consulting Group survey, 59 percent of millennials reported that their favorite brands were a reflection of their style and personality, and 40 percent said they were willing to pay more for a brand that matched what they wished to convey about themselves.
Easy ways to personalize your social media posts include:
- Posting “behind the scenes” content, such as a spotlights on staff or members
- Adopting a friendly, relaxed attitude when responding to comments and questions
- Showcasing your brand’s unique style or voice
- Following and engaging with current pop culture trends
- Engage directly
Social media accounts aren’t just a place to promote your product, they are a channel for direct communication with clients and future clients as well as a tool for building brand trust. Millennials favor businesses and brands that promote a two-way, mutual relationship with their client base. A Sprout Social survey found that 76% of respondents were more likely to purchase a brand they felt connected to on social media than they were to purchase from a competitor. Directly engaging with followers by answering questions, commenting on posts or asking for feedback can build trust and credibility among potential millennial customers.
- Respond quickly
When it comes to social media responsiveness, speed matters. A 2016 study found that more than 80 percent of customers expect a response within 24 hours of posting on social media and more recent research indicates customers look for a response in as little as 30 minutes or one hour. According to a Twitter study, quick responses were linked to higher customer satisfaction, willingness to recommend the brand, and revenue potential. The study found that customers were willing to pay almost $20 more for an airline ticket when an airline responded to a customer’s Tweet in fewer than six minutes. Answering questions and addressing concerns in a timely manner on social media can help retain and build your millennial customer base.
Is your company maximizing the potential of its digital presence to win over millennials? ATX Web Designs can perform a website and mobile app audit to help you improve your web presence and also offers website and app development services.