Much is being written about the importance of Millennial customers, and that is because they represent a huge demographic group that is likely make up a healthy percentage of your resident or customer base. Born between 1982 and 1993, there are over 80 million Millennials – the largest demographic group in the U.S. The things that this group likes to do and purchase, and how they prefer to be marketed to, makes a huge economic impact on your business.
Here are the top characteristics of Millennials:
- Millennials are frugal, but are willing to spend money on the lifestyle and entertainment they like. In a recent survey, 66 percent of Millennials said they felt more fulfilled by live experiences than by purchasing an item of the same value and 62 percent plan to increase the amount of money they spend on experiences – rather than possessions – over the next year. Many are foregoing buying homes and cars and instead are renting apartments, taking public transportation and riding their bikes. They tend to live in apartment communities that offer unique amenities and tech-friendly capabilities such as Bluetooth surround sound, Wi-Fi and text alerts when their packages arrive.
- This group is more tech-savvy and social media-friendly than any previous generation. On their smartphones and tablets, they are watching YouTube and Facebook videos. They prefer to receive information – and communicate with friends and family – via text. Sixty-seven percent of millennial say they have followed a brand on social media and 62 percent say they are following the brand so they can receive exclusive offers. Facebook is most used by this demographic group, closely followed by Twitter, Instagram and LinkedIn, according to Pinpoint Market Research. If you want to communicate with millennials, text is key.
- Online peer review sites are how Millennials make purchase decisions. Before visiting a restaurant or business, they find out what their peers recommend. This means that online ratings sites, from Yelp to ApartmentSearch to TripAdvisor, are a vital component of their decision-making.
- Brands must create good content and interact directly with Millennials, according to Trendera. As a result, many are utilizing gameification and inputting fun, interactive games within ads and social media messages. Brands can also attract Millennials buy putting surprise prizes in everyday goods, launching customer loyalty programs, employee-of-the-month awards, and other initiatives.
- Convenience is Millennials’ number one priority. This generation was raised on obtaining information immediately, wherever they are, via their tablets, smartphones and other devices. They can order a product online, and it will arrive at their apartment or dorm in two days. They can text their friend or professor and receive an immediate response. They expect the same quick responses and convenience from the businesses they interact with.
- Charity is important to Millennials. They support brands that support their favorite charities and often get involved in charitable causes themselves. Because they recognize the power their money carries, many Millennials use that power to influence brands to advance social causes.
Another great tool for communicating to this generation is PackageLog. Its cloud-based package notification technology enables you to be able to send text and email messages to announce the arrival of a delivery to your office of mail room. In addition, the system can be used to mass communicate to your entire database using customized messages (again all by text and email). It is the ultimate tool the leverages what millennials love (package delivery) using the technology they love (mobile) is the timeframe the love (instant).
To learn more about PackageLog, click here.