Millennials comprise 25% of the overall U.S. population – that’s almost 80 million people! Millennials are categorized by adults from the age of 20 to 37. According to a Mintel study from February 2014, “Marketers that can engage and involve Millennials in their brand, tailor targeted messages based on specific interests, and add value and convenience through the use of technology should resonate with this generation.” Based on data from Accenture, by 2020, “Millennials will spend about $1.4 trillion annually in the US.”
In order to engage with Millennials to gain their attention, loyalty and part of this $1.4 trillion annually, marketers and sales representatives must engage with them differently than with other consumer groups. We’ve turned to a recent Forbes article by Patrick Spenner, “Inside the Millennial Mind: The Do’s & Don’ts of Marketing to this Powerful Generation,” for more information on how to reach this enormous consumer group. Spenner interviews Katie Elferling, a CEB Iconoculture consumer strategist for more information on this group. After reading this informative piece, we see that there is a defined approach into reaching millennials, although marketers and sales teams need to know that it is not as traditional as how they have been doing this in the past for other consumer groups.
For example, for older generations, milestones like finding a career out of college or graduate school, getting married, buying a house and having children happened earlier in life. These steps were taken more often than not and were the barometer for success. The millennial generation takes a different approach and doesn’t expect these milestones to come immediately after graduating college as they are living in a different economy. This generation is making home purchases later in life (if at all), getting married and having children at an older age, and switching careers more frequently. With that said, instead of employers, marketers and sales teams waiting for their millennial consumer groups to “grow up,” it’s important to tailor marketing and targeting for who millennials are today.
Some strong examples from the Forbes article of brands that are targeting the millennial consumer in a way that address their needs for immediate results, accessibility and real-time response include Tide Pods, UBER and Intel. Content and experiences that can be shared, “liked” and “Insta’d” are the best for reaching this consumer. DYL is also allowing you to cater to the millennial audience (and to your millennial employees) through many of our customizable tools.
- Text Messaging: Customize text messages and reach your millennial lead in a way that they prefer. The Mintel study states, ““To communicate with Millennials (or encourage them to communicate with you), a company/brand or individual needs to be using social media or texting.”
- Email Campaigns: DYL Lead Manager tools allow you to send personalized emails to your leads that will generate inbound calls. Emails can be scheduled and can also be set up as a sequence of emails to this consumer group.
- Cloud-based phone systems: With DYL Voice, facilitate more productivity of insurance agents by combining phone services with CRM systems, which can easily be integrated into current infrastructure as soon as today! DYL has taken four main services: lead management, dialing, texting and a complete phone system and turned these into one accessible sales platform to convert leads.
Reaching millennials is not as difficult as it may seem, the execution just needs to be strategized differently versus other consumer groups, but DYL can help you get there.