10 Marketing Strategies to Sell to Gen Y
Why is it so important to consider Gen Y while building your marketing strategies? Well, the fact that they constitute 25% of the whole population should be enough. You cannot afford to ignore such a massive market. Additionally, they have a high purchasing power since most of them are employed and working. So, they build up your target audience plus have the capacity to pay.
According to Daymon Worldwide, hardly 29% of Millennials stay loyal to a particular brand. This means there’s a constant need to target this market. Further, Pew Research says that almost 100% of them use the internet. Hence, there can be nothing better than the internet to target Gen Y.
Who is Gen Y?
Of Course, you know we are talking about Millennials (or Gen Y). They form the largest generation after the old Baby Boomers.
Gen Y is born somewhere between the years of 1981 to 1994 so they’re the ones in the age group of 25-40. Most of them have their own businesses or stable jobs. It may be hard to believe that Gen Y is the highest-spending generation of today’s time with an estimated $1.4 trillion tabs.
To obtain financial gain from them, you have to be careful while using your marketing strategies. So, before you start shooting arrows in the dark, here are some hand-picked tips for you to target Gen Y.
1. Transparency is all you need
You can hide the facts from the previous generations. But with Gen Y, you have to be extra cautious! If you stay transparent to them, they’ll trust you with their eyes closed.
Try to communicate the ethics of your company through social media. Since they use the internet the most, you can make behind-the-scenes clips and working videos of staff and upload them on social media. They trust what they see.
2. Hang out with new modes of content
The marketing techniques have evolved with time. To keep your edge in the market, you need to adapt to this evolution. The age-old strategies of emails, TV and radio commercials, newspapers, etc. drive results. But it is important to know the correct platform where the majority of your target audience is gathering.
Spend your time and resources on content marketing, social media, video, and text marketing. Investing in these platforms is never going to be a waste because they have been ruling the internet for quite some time now.
3. Don’t ever (EVER) try to deceive them
They feel deceived with the traditional ads in the newspaper or magazines cluttered with salesy content and devoid of any original substance. Millennials demand authenticity and more customer-driven products.
Before making a purchase, they research through blogs, forums, YouTube to ensure that they received the best ROI for their investment. Make sure you portray what you are. Once they feel cheated, they’re never coming back!
4. Make them a priority
Make them feel your product is custom-made for them. Every consumer feels appreciated to know that you care for their interests and not their wallets. Keep a check on their current interests and develop your product.
Try to target them organically. Update them with informative content about your brand. This will add to their knowledge and also help them recall your brand the next time they shop. Remember, Gen Y is the working generation so your “forceful marketing strategies” will be of little help here.
This generation prefers honesty and you can build a strong relationship with them if you make them your priority.
5. Learn to collaborate and keep them on the winning team!
Gen Y is open to collaboration. They love when they get to speak and the other side actually listens. Millennials are ready to help a brand grow. If needed, they’re ready to give their inputs and become product co-creators.
So, don’t make a product and wait for them to consume it. Instead, listen to them, make them a part of your production process, and keep them on the winning side.
6. Sell use-cases, not ownership
To target Gen Y, you need to play smart. The current trend of the ‘sharing economy’ is booming. Gen Y prefers to use over ownership.
They wouldn’t want to spend a hefty amount for one-time usage and own the thing for a lifetime. They’re more practical and focus on usage. Give them that opportunity like Airbnb, Rent the Runway and many others are doing.
This ‘sharing market’ mentality best works for the Millennials as it shows you aren’t forcing somebody to buy it, but helping them when they need something.
7. Make the buying experience fun
‘Fauxsumerism’ is taking over the market today. This means that the audience is viewing the e-commerce platform as a source of entertainment. They want to have experience shopping rather than shopping in general.
The audience is basically exploring the online market with Pinterest being the best example for it. They create wish lists that never make it to the cart. Hence, make the buying experience fun for them and they’ll keep coming back.
8. Establish thought-leadership with inbound marketing
54% of Gen Y use YouTube daily. Consider YouTube as the platform to attract your target audience with inbound marketing. The concept of inbound marketing is simple.
Provide anything that adds to the knowledge. You can do this by e-books, whitepapers, how-to videos, etc. The how-to videos work best with the audience as they’re always seeking more knowledge.
This generation believes in supporting businesses that can improve their lives and provide informative content. You can establish thought-leadership and eventually climb high on Google’s high-ranking pages.ṣ
9. Go to them and seek feedback (always!)
When you sell things to Millennials, it is inevitable to be constantly upgraded. There’s no one specific way to approach this generation. You might think you’re going the right way but it will not always generate desired results.
At such times, instead of being at all places, approach the source. Ask for their feedback. They’re very supportive and will suggest the necessary improvements. Work on the suggestions from their feedback and you already know how to target them!
10. Intention rules!
One thing that you must keep telling your customers is that you’re there to help them. Your intention is to provide them benefits.
Gen Y loves original and trustworthy content so if you think content marketing is a fad, you’re playing it wrong. You can win your customers easily by making them believe you have pure intentions.
Over to you…
Like said, there’s not one absolute strategy to target Gen Y because of their practical approach. The only thing you can do is to modify yourself based on their interests. Selling products to Millennials can haunt you down because of their demand for more authentic, content, and customer-driven needs.
But once you catch them with their nerves, they’re there to help your business grow by spreading the word, unlike other generations. Work on the suggestions and the customer-needed product is ready!
However, if you are just starting out as your primary market is Gen Y, it’s highly possible that you feel lost. In that case, seek expert advice from B2B sales and marketing consulting firms – they will not only give you a custom approach but also handhold you through the path of success!
Do you also want to market successfully to Gen Y? Contact us today and we will take it from there!