5 marketing strategies for successful contact with Millennials
The generation of the new millennium (so-called millennial shoppers - millennials), people aged 14 to 35, without a doubt, today are one of the most valuable and sought-after target groups in the field of commerce. Crowdholding is a great place to connect with Millennials as average crowdholder’s age is between 18 to 34 and they are also risk-takers, innovators, and co-creators.
Despite the fact that this group is only 27% of the total population of the world (as of August 2014), it has a strong consumer potential. In monetary terms, it is possible to express the amount of $600 billion annually spent on the purchase of certain goods and services. By 2020, this generation will be about half of the US working-age population and will reach 75% in 2025.
It is obvious that the first business that pays attention to this category of buyers will success. However, only half of all traders use demographic targeting (ie divide all of their customers by age group) and optimize the complex marketing activities for each of the groups.
Begin this work right now, and you will leave its competitors far behind. How? Read below.
1. No matter what you sell, sell it online
Being online today is not just fashionable. It is also really beneficial. According to studies, 40% of men admit millennials could buy everything they need on the Internet. Among women millennials, this percentage is slightly lower (33%), but the results speak for themselves: the representatives of the group share they feel comfortable in the environment of online and are willing to spend money there.
It would seem that this social demand should be an adequate response on the part of a business, but only 50.5% of firms have are on the Internet:
50.5% - have an Internet presence, 31,2% - are not present in the network, 11,8% - are exploring the benefits online, 7.5% - representation are under development.
What about the others? Carrying out research in this area, engaging in the creation of resources or opportunities for growth. If you have a Landing page or online store, you already outcompete half the competitors and apply a much more successful strategy when working with millennials.
If you have still no Landing page or website through which you could collect orders, you should know that certain product groups sell much better through traditional offline points: it's drugs (91%), furniture (81%), shoes (76%), jewelry (62%), clothing (74%), daily use products (62%).
Even if you are selling goods in this category, you still should not put an end to online distribution. Think strategically: Build Internet representation, in addition to your offline store.
2. Streamline the buying process for any device
Millennials distinguish from other age groups fairly easy: according to research, they do not limit themselves to the selection of gadgets for everyday use (30% of them use 4 or more different devices per day).
Of course, smartphones are the most popular handheld device as people turn to their devices an average of 34 times per day. But even more interesting and important is the fact that 52% of respondents described that representatives of the group are actively using mobile devices while shopping on the Internet.
That said, you can easily make two obvious conclusions:
1. It is necessary to optimize the shopping experience for mobile devices
This means that you need to use only the big picture, configure user-friendly interface (for example, to introduce large buttons that are easy to click on mobile devices), provide high-speed loading web pages, etc.
2. The process of registration of purchase must also be optimized for all kinds of devices
The traditional long-lead form simply does not fit into a whole new user experience. For customers who place orders via a mobile device is to be found another, more convenient solution.
Internet publication Smashing Magazine in one of his articles drew attention to the differences between the optimized order form (left) and conventional (right).
According to the data of the search engine Yahoo!, most online retailers (ie - 88%) do not optimize the purchase process for customers' experience working with the website through a mobile device.
If you are looking to grow your business, you have probably realized that this fact will work for you if you prefer to optimize Web resources immediately. This will be an excellent chance to draw attention millennials on his side.
3. Aim the social trend in your direction
What do you think, what is the simplest and most effective way to convince millennials to buy something from you?
Do not rush to answer. It is important to understand that the technologies and techniques that produce results with representatives of the older generation, will now not work, or will work, but not with the desired effect.
For example, Yahoo! mentioned in the same report that for 68% of millennials advertising would no longer give the expected results.
There is no need to invest in two-step communication plans, but be out there, and it's - the output of your company in the social space. Join Crowdholding to collect a community of brand advocates and initiate a more creative approach to market to Millennials. This generation exhibits a high degree of confidence in the recommendations and reviews of other people (the so-called social proof - social proof). Social networks - a place where millennials spend a lot of time, and the fact that when choosing a product 66% of which is guided by the advice of friends and acquaintances in social media, is no surprise. In addition, 93% millennials already made purchases on the advice of friends, and 89% believe such advice and recommendations of more than statements of the brand.
In turn, millennials are ready to give advice and to write these recommendations. The crowd actively participates in co-creating products with businesses on Crowdholding. According to research 59%, millennials share their impressions from buying in the social media, while 41% of them use social networks just for this.
4. Reposition your content marketing on millennials
Content marketing - is a profitable and highly effective way to let them know millennials about their company and its products. According to surveys, 85% millennials before becoming a client of a firm, conducted a small preliminary study: a user collects information about the company and its products, meets customer reviews and online surveys. The information that is available on the official website of the company, are also subject to scrutiny.
Consequently, the content that you post on the pages of his corporate blog, is extremely important. But it is important not only to image-information and news chronicle of all possible discounts and sales, a new line of products, etc.
Do not forget that as submitted your content. millennials appreciate the information that is clearly set out and does not require additional decoding. Optimizing content for different devices is also important.
Even if you are absolutely sure that the information that you have, demanded by your target audience, please note that buyers prefer to choose the channel of communication with you, which will consider the most appropriate.
5. Plan activities for the formation of loyalty to your company
Discount coupons, perhaps, can be attributed to the few technologies "old school" marketing loyal, who very well able to adapt to the realities of today's business. And if you think to build a loyal customer base priority (which is necessary for the business of any level and category), you can use this tool. You can also offer Crowdshares (% of future revenue) to gather a community of brand advocates and then reward them for their loyalty.
The fact that millennials, according to authoritative online marketing resource PracticalEcommerce, do not miss a single opportunity to bargain and save money. When you give them that opportunity, that is, playing on their greed, then definitely it attracts attention to your company. Just look at the following figures:
- 63% millennials ready to register on the company's website, or perform any other action to receive a coupon code.
- Discount of 20% is enough to convince half of all visitors to visit the point of sale.
- 23% of consumers react only on coupons with 50% discount, and 17% would welcome any figure with the sign "minus".
A similar situation is observed with the ratio millennials various loyalty programs:
- 84% of customers are willing to go on the websites of companies that implement programs to increase loyalty.
- 75% of customers will prefer the company that provides discounts in real-time while shopping with smartphones.
- millennials 73% are ready to participate in various loyalty programs from their mobile devices.
Note: a few online retailers offer coupons and carry out actions increase online loyalty. Take this opportunity and if you pay attention to a very important target group.
Millennials - an important segment of buyers in the modern business space. And if you want to establish contact with them, then you need to learn to speak the same language.
We are interested in your opinion and feedback regarding the crowdholding concept. Get in touch through our website or email us at firstname.lastname@example.org Learn more about Crowdholding in 1 minute by watching our Youtube video.
CrowdholdingCrowdholding connects the crowd with entrepreneurs, allowing you to give feedback and ideas for a future share.
ITF excelled with Crowd Wisdom
TailoredInk ICO Community Management
IronX ICO Social Media Marketing
Aerum ICO Influencer Marketing
Jarvis built with the crowd
ySign engaged the blockchain crowd
6 Ways to Earn Crypto For Free
Common Mistakes When Investing in ICOs
Connectjob joins Crowdholding
Week in a Nutshell & Smart Contract
Opporty joins Crowdholding
Getting to Know our Users
SmartCash joins Crowdholding
Bitcoen.io joins Crowdholding
What is a Smart Contract?
How to Create an ICO - Part 3 - Marketing
How to Create an ICO - Part 2 - The Two "W's"
How to create an ICO - Part 1 - The building blocks
Invest Time, Not Money
What alternatives are there to financing your business?
What is an ICO? And should you invest?
Blockchain technology : changing the world of business silently
Crowdholding’s Pre-Sale — A Case Study
How to become a Crowdholding supporter: Part 3 exchanging ETH for YUPIES
China ban on ICO’s : Not all Doom and Gloom?
How to become a Crowdholding supporter: Part 2 Buy some Ether (ETH) on Coinbase
How to create a task on Crowdholding
How to become a Crowdholding supporter: Part 1 creating a Ethereum wallet on MyEtherWallet.com
How to create a project on Crowdholding
Cryptocurrencies and their value
What is Crowdholding?
What is a White Paper? And do you need one?
What can CEO’s / Entrepreneurs learn from athletes?
How to start my own business? Part 3. Validating Your Business Idea
Top 10 career mistakes to avoid
6 Benefits of a Sharing Economy
How to start my own business? Part 2. Factory for ideas
Startup Promotion and Content Marketing Strategy
How to start my own business? Part 1. Five simple rules
The Year Capitalism could have Changed
Robots & Work: Jack Ma Predicted The Emergence of Robot-CEO
Startup Psychology: Why Entrepreneurs will save the planet?
Billionaire's School: it's hard to be the first
10 interesting sport startups that will rule 2017
30 reasons to be an online entrepreneur
How to chose a dating site?
You should know this striking marketing trend
10 reasons to join Crowdholding if you are a student
How did 67,000 people create the first crowdsourced melody?
Launch a startup with a partner, never alone.
Collaboration solves education problems with flying colors!
Hollywood movie from your smartphone?
Design your room the way you want it!
Hi, Your business is now a unicorn!
Hi, You're Hired!
Don't want to change the world for the better? You can stop reading now.
Sharing Economy is not a niche, it's the future
📊 What if karma was 🆚 worth something? 🤜🤛
Raise capital, preserve equity
5 marketing strategies for successful contact with Millennials
Why 75% of new products are doomed to fail?
Small Business Staffing Opportunities
What are Crowd Currencies?
Mass Collaboration leads to unprecedented innovation
Alternative Finance: Equity vs Crowdshare Crowdfunding
Co-creation between the crowd and small businesses
THE RELATIONSHIP BETWEEN IT AND CO CREATION
Corruption on Wall Street: The Stolen American Dream
To own or to rent, trends in sharing economics
Crowdsourcing a girlfriend
CROWDSOURCING IN FASHION
CrowdSourcing Trends 2020
Peer-to-peer journalism: What and how?
Peer-to-peer in the fashion industry
The Peer-To-Peer Marketplace Revolution
The relationship between Co-creation and Innovation
CROWDFUNDING AND VIDEOGAMES
NON-EQUITY CROWDFUNDING CHANGING FASHION BUSINESS
Revenue-sharing vs Reward-based crowdfunding
Blockchain application in Media industry
Blockchain Technology & Crowdfunding
Creative marketing through Crowdsourced Content
JOBS OF THE FUTURE
Alternative finance for small businesses
WHY CO-CREATE? – A message to the Crowd
Think Tanks and Benefits
Empowering Global Citizens to Improve Education
THE EVIL WALL STREET
Co-creation in Tech
Co-creation and Innovation
WHY CO-CREATE? - Benefits for Small Businesses
Co-creation in the Fashion Industry
Crowdholding vs Wallstreet
Make a brand your brand
The way you earn rewards has changed!
The task has changed to a new rewarding structure. Please read the following rules:
Voters get 35% of the reward
Commenters still receive the majority of 65% of the reward weight, while voters 35%.
You receive only 7 upvotes and must vote what you think are the best answers
You now have a limited amount of upvotes. You won’t see the other user votes until the task expires. If you vote the top half comments you will receive a portion of the 35%.
Top 50% upvoted comments get bigger share
Our algorithm gives top 50% upvoted comments more rewards than the bottom 50% comments.
Give me an example with numbers
Upvoters get 35 % of the reward.
65 % goes to the commentors.
Half of the reward is gained from bottom 1/2.
Upvoters get nothing
1/2 of the reward pool for this segmentis distributed among top 1/2
There is a task with 1000 Reward.
Let’s assume Top 1/2 recevies 70% of all upvotes.
Bottom gets 30 %. But because half of the reward goes to Top 1/2 that makes the final numbers more like Top 1/2 gets 85% (55.25% for commentors, 29,75% for upvoters) and bottom gets 15 % of the final reward.
If there’s 100 upvotes:
1 upvote that upvotes a comment in Top is worth around 12 Yups (circa 8 goes to commentor, 4 goes to upvoter)
1 upvote that upvotes a comment in Bottom is worth 5 (All goes to commentor).
Reminder about our Moderation
If you upvote a comment that’s reported as Spam or comment that should not be rewarded (eg. “Good job” comments) you will lose your right to be rewarded for this task.
We hope you like this new system and it brings you lots of fruitful discussions and reward you fairly.
Do you still have questions? Read more detailed explanation at our helpdesk
All the best,
Your Crowdholding Team