Marketing for Millennials: needs and values

Millennials remember how the first Sony PlayStation game consoles, the first pagers, iPods, cell phones, computers, and the Internet appeared. Now it is simply impossible to imagine everyday life without the Internet and smartphones, not to mention all other gadgets.

It is clear that at that time it was easy to sell these novelties, because they gave status to their owner, aroused the envy of others. Everything has changed since technology shapes our way of life and comfort. How to sell to millennials now? What motivates them when choosing and making a purchase decision? How to advertise and sell to millennials?

Millennials got their name due to the fact that the first representatives of this generation came of age with the advent of the new millennium, in the Millennium, that is, in 2000.

As the largest and most diverse generation in history, millennials have a significant impact on the economy and society, making them the most important target market for businesses in all industries. Millennials are known for their technical savvy, as they grew up in the era of the emergence and active development of digital technologies. It has also shaped their communication style, as they use social media and messengers more often to stay in touch with friends and family.

It is characteristic that the generation grew up in the era of globalization, when all visible walls and invisible curtains collapsed, so millennials are the most diverse in terms of race, ethnicity and culture. This leaves a deep imprint on their worldview.

Convenience and efficiency play a big role for millennials, which has led to the popularity of on-demand services and the popularity of online shopping and delivery. Also, personalization and individuality are highly appreciated by this generation. Representatives of the demographic group prefer to be considered unique. Accordingly, they value products and services that meet their individual needs and preferences.

Work—life balance is another critical factor for millennials. They value their personal time highly and give priority to companies that can offer flexible working conditions and prioritize the well-being of employees.

In general, companies that match the values and needs of millennials listed above are more likely to attract and retain them.

Unlike previous generations, millennials do not make expressive purchases, they take their time and carefully study goods and services before making a choice.

Also, the decision-making process is largely determined by the value of a product or service. Before buying, they necessarily compare prices, read reviews to make sure that the choice is correct.

With the advent of marketplaces and fast access to information, millennials have become accustomed to comfort and speed.

Social networks act as a platform for brands to interact with their audience, creating a sense of community that attracts an audience that values authenticity and connection. Many millennials also rely heavily on the recommendations of acquaintances and user-generated content when making purchase decisions. They are more likely to trust a product or brand if it was recommended by a friend, or if there is positive feedback from other consumers.

Marketing for millennials requires a different approach than a traditional marketing strategy. One of the most important aspects is the use of social networks to showcase their products and services, share relevant content and interact with their audience, create a sense of community through social media groups, events and challenges.

Another point is personalization and customization, because the generation values individuality and wants to feel seen and heard. Brands should tailor their marketing campaigns to meet the unique preferences and needs of the generation. This can be achieved through personalized email newsletters, targeted advertising, and customized products and services.

Visual content and storytelling are also powerful marketing tools among millennials, as the generation reacts quickly to engaging content. Companies can incorporate visual elements such as videos, images, and graphics to tell the story of their brand and connect with the audience on a deeper level.

The inclusion of user-generated content that is created by real people attracts millennials with its authenticity. Companies can use user-generated content by encouraging audiences to share their experiences on social media and by posting content on their websites and other marketing channels. Brands should also adapt their content to mobile devices, as millennials are constantly using smartphones.

Brands should focus on creating real and authentic content that adds value to their audience's lives.

This may include educational, entertaining, or useful content that solves a problem or satisfies a need.

One approach that has proven effective among millennials is offering discounts and promotions, as the generation is known for constantly being in search of benefits. Discounts can be offered through various channels such as social media, email newsletters, or targeted advertising.

Another effective approach to targeted sales is the subscription model, which attracts with convenience and cost—effectiveness. By offering a monthly or annual subscription, companies can provide their customers with a continuous stream of products or services, creating a loyal and loyal customer base. For example, Game pass by Xbox.

Limited edition and exclusive products are another working approach to targeted sales. The generation is willing to pay more for exclusive products that are not available to everyone. By offering limited-edition products, companies can exploit the fear of missing out and create a sense of urgency to purchase. Collaborating with popular bloggers, celebrities and influencers helps brands reach a wider audience. Millennials are strongly influenced by the opinions and recommendations of their peers and famous personalities, which makes this approach an effective sales method.