The US Economy is Set to Boom From 2017-2030. Are You Targeting the Right Demographics?
Tim Costello, CEO of BDX, recently talked at CEPro Summit. Costello predicted that the upcoming years will be economically prosperous for us regardless of the political party in charge.
Why? Because Millennials will be reaching their peak spending age between those years. Costello’s overall message was to start targeting Millennials.
Millennials engage with brands more than anyone else via social media and word of mouth. Apple, Microsoft, Sony and Samsung are some of their most beloved brands. How many times have you seen the Apple logo sticker on the back of a car or on a laptop case?
Millennials love technology, and we should market more towards them and their needs and wants, especially in the coming years.
What do they want? The most important brand characteristic your company can have is a high quality product. Other important characteristics of a brand is being able to show off and recommend the product to friends, and a brand that is socially responsible.
The following is a comment on an article about marketing to Millennials:
If you want to be a brand that Millennials will interact with and have a positive feeling about, then you need to make it feel like the brand is a person they would like to hang out with. Taco Bell is my favorite example. Nothing feels corporate. Look at their twitter for example. It's all jokes and personal replies to people who mentioned them.—TBroth
Taco Bell is a world-class example of a brand that has been killing it on social media for years. By being an amusing concoction of self-effacing and cocky they’ve gained 1.59M followers.
How does this all relate to getting Millennials to buy from your company?
1) Make the highest quality product you can- and if you don't you better make your product accessible in some other way.
2) Make your brand something that people are excited to have—your product can be as expensive as a MacBook Pro or as cheap as a Nacho Supreme.
3) Your brand should stand for something. Apple hosts free summer camps for kids and teaches them how to do various things on their computers. With the help of its customers, Taco Bell raised 2.7M just last week to help teens graduate from high school.
4) You should act like your brand is your best friend, not your baby. Babies are sheltered and coddled. Your best friend takes a lot less work. Make your social media presence into a personality of someone who you’d love to hang out with. If you wouldn’t constantly talk about yourself in real life, don’t do it on social media. If you would help someone in real life, do it on social media as well.