Marketing To The Generations: Part 3
Millennials, born between 1977 and 2000, may not represent a big part of your patient base yet, but they are definitely your future.
Why? Because there are 86 million of them. That’s more than 20% of the U.S. population, beating out baby boomers by nearly 8 million people.
More important, by 2018, they’ll also be spending more than boomers on goods and services in the U.S. And, as they age, they are having more and more influence on the buying of older generations as well.
So, what draws them into a business? Here are four important things you need to know.
1. Transparency. It’s all about making transactions transparent. The good news is that many Millennials like to touch, feel, and try on your product. They may research online and buy in-store, or they may do it the other way around. The point is to make it easy AND to make sure your online messaging, look, and feel parallel those of your brick-and-mortar location.
2. Real Deals. Unless they’re really well thought-out and an obvious value, Millennials aren’t going to go for ‘deals.’ They’re going to research online, check reviews, and communicate with friends about products and offerings, so don’t think price or glitzy promotions alone will get them to buy. Read on to see what will work, however.
3. Caring And Sharing. So if price alone and real deals don’t sell, what does? A company that supports a cause they care about. In other words, if you want them to buy, you should stand for something beyond just the product you sell. Nearly 40% of Millennials say they’ll actually spend more for a product if the company selling it is involved with a cause they care about.
4. Conversation. Create a conversation around your product (and about the causes you support). Give Millennials something to share on social media with their friends. Sharing goes both ways, however, so bad service or poor quality will be shared with bad reviews every bit as much as solid service and super products will be met with positive feedback. Either way, Millennials aren’t a quiet generation. Nearly half have at least 200 ‘friends’ on Facebook, compared to less than 20% of both younger and older consumers. And Facebook is just one of the social media venues where they share their experiences with their ‘friends.’
Have you created messaging that gets shared by the Millennials in your practice and in your community? If you have some communications that resonate well with these younger consumers, or some that don’t, please tell us below and join the conversation on our ClubZero Facebook page here.