Millennials are one of the largest demographics in the U.S., and this younger group of people is currently a major driving force behind the economy – and small business sales.
In order for your company to prosper and grow, you'll need a financial plan that is designed with millennials in mind. Unfortunately, Generation Y can be hard to reach at times, thanks to a multitude of other responsibilities and hobbies. To make matters more complicated, this demographic has a unique set of beliefs and opinions that can make small-business marketing much tougher.
Instead of accepting waning sales, here are three business and financial tips to appeal to millennials:
1. Be authentic
Millennials are very savvy on the Internet, and they understand the current trends, stereotypes and messages floating around online. Because of this, Inc. magazine explained that they'll be able to tell if your marketing materials aren't authentic – and they'll know right away. On the other hand, present your brand in the correct light and don't fudge the truth to make it more appealing to millennials. Instead, be honest and forthcoming, because these traits are extremely desirable to this generation.
2. Be concise
Millennials are a busy bunch. Many are either in school, fresh out or just starting a family. As a result, their days are already full, and they don't have the time or interest to pay attention to long, drawn-out marketing campaigns or pitches. Inc. magazine recommended being concise instead. Say your message right away, without hiding it behind other, less valuable bits of information. Getting to the heart of the matter as early as possible will help you sell your product or services to millennials.
3. Be funny
Small businesses have a lot of different strategies to appeal to Generation Y. According to Ritika Puri in an article for Crazyegg, one of the best is humor. Millennials enjoy laughing at nearly everything, including themselves. Catering to this trait has the ability to endear them to a brand, and it will certainly help with sales if all the right notes are hit. Using satire or other forms of humor in a marketing strategy, on social media or in other forms of communication can be a fantastic way to reach this demographic and convert leads to sales. Most importantly, this tactic doesn't require a change to the financial plan or other monetary investment.