You’ve read the articles lamenting the demise of certain industries and shifting consumer attitudes, all of which pay homage (positively or negatively) to the 1980s and 1990s generation. Journalists appear to enjoy writing about Millennials, whereas marketers appear to enjoy analysing them. But why is this so?
Millennials are Malaysia’s largest population segment that uses social media marketing as a channel for online shopping. According to the Malaysian Department of Statistics, there are 11,679,000 Malaysians aged 20 to 39. In this study, millennials are defined as those born between 1980 and the early 1990s. This is the most populous group of online shoppers. Millennials, also known as Generation Y, are people born between 1980 and 1999. They are a collaborative, inventive, and entrepreneurial generation that will shape the global luxury industry in the coming decades. Because of the growing popularity of the internet in Malaysia, Millennials are spending more time on social media, which has an impact on their purchasing behaviour.
Taking all of this into consideration, we must acknowledge that, due to student loans and children, Millennials as a group have not yet reached their full purchasing power in comparison to their parents. Keeping this in mind, there are numerous reasons to prioritise this generation.
The Most Profitable Market Segment is Millennials:
Despite the fact that they have not yet reached their full purchasing power as a group, their purchasing power exceeds that of previous generations. They are a top priority for any marketer, with over 30% of the population and a vague spending power significantly greater than their Gen-Z counterparts’ reported RM1.4B. As a result, we can be certain that we understand what motivates this important audience.
Millennials are Prone to Switching Brands:
Millennials aren’t afraid to try new things or take risks. According to Daymon Worldwide, only 29% of Millennials will definitely purchase the same brand again, a shockingly low brand loyalty score when compared to previous generations.
This demonstrates that in order to retain and attract millennial customers, brands’ marketing efforts must be amplified. As a result, marketers and customer service representatives must constantly look for new ways to ensure the highest level of customer satisfaction possible.
Millennials are Well-Versed in Technology:
As the parents of the iGeneration or Gen Z, we must absolutely expect them to be adept at using the internet, which their children do on a daily basis. Having grown up during the internet’s infancy, almost all millennials are internet users. Technology does not frighten the millennial generation. With nearly nine out of ten Millennials owning a smartphone, this usage is more likely to involve web content consumption. This allows for the use of additional marketing venues and methods to ensure a greater reach to such a critical target audience.
Let’s take a look at some of the methods we use for some of our clients to market to this audience:
Creating Genuine Content
Millennials spend four hours per day on the internet in various ways, and they prefer content-driven media. They’re scouring websites, blogs, and social media for amazing content that will empower them. They are also sharing, liking, pinning, tweeting, snapping, forwarding, and commenting on their findings in order to empower the online community. So, what is it about this type of content that is so appealing to this demographic? Millennials trust what they perceive to be genuine.
People they know in person or online, as well as strangers who share their interests on social media, now have a large influence on young shoppers. Millennials carry these “advisors” with them on their smartphones wherever they go. They value credible, authentic feedback from real-world product users with whom they can identify. Indeed, as Millennials, many of us believe that user-generated content, such as reviews, is far more trustworthy than any marketing campaign a company can run.
Brands must simply speak Gen Y’s language in order to successfully reach them. People aged 20 to 39 will perk up when they hear or read messages that could have come from their peers, as these messages imply comfort and trust. When you create content that your audience is proud to share, you are establishing a genuine brand-consumer relationship.
Market With Intention
You are mistaken if you believe content marketing is a passing fad! The following are a few key examples of how content marketing excels at fostering brand loyalty and trust:
Digi regularly publishes engaging social media content, which explains the brand’s social media following. A recent Father’s Day campaign exemplifies this, as Digi shared a series of Facebook and Instagram posts centred on the concept of “dad jokes,” which many people would appreciate because it is lighthearted and comical. This demonstrates that, despite the technical nature of Digi’s service, the brand is still capable of providing consumers with engaging content.
The content, on the other hand, can be tailored in a variety of ways to appeal to the consumer. Visual content is becoming more powerful. GoPro understands the importance of infographics and visual content in increasing traffic. Their marketing strategy is entirely centred on quality, both in terms of visual content and products. What about the numbers and facts? They have 10.4 million subscribers on YouTube and 18.1 million followers on Instagram.
I don’t know what else to call it if that isn’t the definition of content marketing mastery.
They are centred on the user. What do their customers adore? Pictures. These are absolutely stunning photographs. As a result, that’s what they offer.
Given that Millennial consumers value great, authentic content, content marketing does not appear to be going away anytime soon. With its emphasis on consistent and high-quality content creation, the inbound methodology is not a passing fad and will continue to attract your ideal customers.
Adopt a Playful & Sensory-Stimulating Attitude
To a growing number of young consumers, the act of researching and browsing for a purchase is more appealing than the purchase itself. Millennials value the shopping experience over the purchase. In other words, online shopping has evolved beyond a means to an end, with many young consumers viewing it as a form of entertainment. Pinterest is an excellent example of how shopping can be elevated to a form of self-expression. This social platform, which aids users in cataloguing prospective purchases through the creation of collections of items of interest, accurately reflects the fact that the majority of people, let alone millennials, have a wish list of products they wish to purchase.
Successful businesses understand that young consumers desire a pleasurable online browsing experience, which is why brands like Etsy showcase their products on Pinterest, making browsing and pinning enjoyable and social. Regardless of the platform, you should market to Millennials in an entertaining manner in order to effectively engage them and inspire action.
Marketing to Millennials requires patience, as this generation is wired for authentic, content-driven, and honest experiences that reflect who they are and the voices they wish to share. Equip them with the puzzle pieces they seek in this perplexing world and remind them that the bigger picture is becoming clearer as a result of their generation. With this sentiment in mind, consider millennials as one of your main buyer personas to target.
With ViSight Marketing as a Service, you will be able to have Certified Digital Marketers identify the best course to take when targeting your specified target audience with a team of content generators and creators to facilitate the best Digital Marketing campaigns possible for your brand.
Discover how ViSight Marketing as a Service can help your business grow in its sales and revenue. Call 1-800-22-2020 or visit maas.cyngus.com.my to take action now!