Millennials are projected to spend around $700 billion each year, making them the target consumer of 2017. But, millennial marketing can be tricky. How are you supposed to market to the “unmarketable”? Enter: social media.
There’s a reason digital advertising has recently surpassed TV in ad spend dollars. According to Sprout Social, about 74% of buyers make their decisions based on what they see on social. And whether you’re a B2C company selling a product, or a B2B company selling a service, your social media presence is important, especially when attracting millennials.
We spend more time online than we do sleeping, and 30% of that time we spend online, we spend on various social media platforms. And so, here’s what you need to know when it comes to your brand’s social media, and how a successful social media strategy translates to a successful millennial marketing strategy.
Product Reviews and Testimonials
While positive product reviews on your website are important, a consumer is much more likely to purchase a product when someone they know has recommended it. When millennials see a product on their friend’s account, or influencer’s account on social, they are more likely to try it, or at least inquire.
In order to promote your product on social, you rely on people talking about it. And, you can do a couple different things to achieve this.
Influencer marketing is a huge way to reach potential consumers because social influencers are trendsetters who contribute to the “bandwagon” effect. Millennials respond to authenticity, and seeing an influencer they follow post about a product feels more genuine than an ad banner.
And while influencer marketing feels more genuine than an ad banner, the most genuine review of all comes from the unpaid friends of a potential millennial consumer. The key here is to engage your followers are current consumers in conversation around your product.
How? Encourage them to join the conversation with a product specific hashtag. Or host a contest on social where your followers post photos showing off how they’re using your product.
Brand Presence
It’s great to have people talking about your brand on social, but you need to have the online presence to back it up, too. When a consumer stumbles upon your social, you want them you know who you are and what you’re all about.
You want posts that show off your product, and you want to be posting frequently. The more your posting content, the more your growing your follower base. And the more followers you have, the more purchases you’re likely to get.
Good content and a high follower count helps validate you, and when a potential new customer stumbles across your social page and sees this, they’re more likely to trust you. That being said, “good” content means different things for different brands.
For millennials, authenticity is everything. Good content is content that stays true to your brand, and also provides value to your followers. And, another little upside of social media, it tells you more about your followers. So, you have better insight as to what’s important to them.
Advertising on Social Media
And, speaking of better insights…the targeting tools available when advertising on social are getting more and more detailed. In turn, making advertising on social even more accurate and effective.
Advertising on social helps you get your consumer through each stage of the buyer’s funnel. It’s a great way to build brand awareness. And, it’s an effective way to score some repeat sales.
Even if you’re not specifically selling a product, promoting your brand on social is important. It helps your potential customers get an idea of who you are exactly, which is key in any type of purchasing decision. And, it helps you get to know your customers a little bit better, too. Win, win.
