Much Ado Creative Services - marketing and graphic design for the Denver metro area

How to apply this to your business:

Financial planners: Invite your client’s children to a special event. Mix in financial planning lessons with fun activities.

Attorneys: Create a workshop or newsletter targeted toward young adults and how they can protect themselves online. Bring in young experts to discuss the benefits (yes there are some) and pitfalls of online social networking.

Accountants: Do you know that a majority of Millennials (and their parents) can’t balance a checkbook? How can you help them make sense of their day-to-day finances?

Non-profits: young adults represent a massive volunteer force. They are educated and care about helping others. Develop “friendship circles”, clubs or special events for young adults only. Engage them and their peers with special pricing and special status.

What the ‘Millennials’ can teach us about marketing.

What can the largest generation since the Baby Boomers teach us about being better marketers? More than you think. (download as a pdf)

All of us market our business or company in different ways, for instance, what works for an insurance agent may not work for a web developer. The methods by which we market may differ, however, the need to interact with our clients is constant. By focusing on our relationship with our customers and clients, we can generate the word of mouth referrals that we all covet. But how do we go about doing this? Look to the future, young man.

With 75 to 100 million of them, the Millennials represent one of the largest generations in American history. They have a buying power of over $360 billion and are brand savvy, tech savvy and family oriented. Even if you don’t market to them (and you should since the oldest Millennial turns 25 this year) you can learn a lot from how they buy and how they think.

Consider these characteristics of the emerging market known as the Millennials:

Born between 1982 and 2001, they have never known life without a computer.
The average Millennial knows 400 brand names and will ask for a brand name 92% of the time.
They are self-driven, motivated and open minded.
They are very close to their parents, enjoy spending time with them and often ask for advice and guidance.
They are demanding and have high expectations for life, work, and the products they buy.
Some expect to maintain the same quality of life they experienced in their parents homes.
They are connected like never before with cell phones and social networking sites.
As “early adapters” of technology and trends, it pays to keep an eye on what they are buying.
They get their news from non-traditional media (blogs, social networking, IMs, The Daily Show) and less and less from news or daily papers.
They’re diverse and respect diversity more than their parents or older generations.
They are optimistic and believe that they can work together to solve problems.
They have short attention spans and need interactivity to keep their attention.

What can this teach us about marketing?

Some of these traits should sound familiar. We are all choosy about the products we buy and how we spend our money. Everyone is over-programmed at work and life. Technology makes our lives easier but creates the illusion of making ourselves available 24-hours a day. We are distracted by millions of ads, messages and demands for our time and attention every day.

How do we break through the noise? Whether we’re marketing to Millennials, their moms, or their grandparents, keep in mind that everyone is busy. Everyone wants to be treated like they are special. Everyone wants to know that they are important to you as a consumer.

Some tips on how to do this:

Make them feel special. The name of the game is market segmentation. Don’t expect one part of your target market to want the same things or think the same way another group might.
Respect their time. Whether you’re selling a widget or legal advice, you’re really selling convenience and ease for your clients. Don’t make the selling cycle interfere or interrupt their lives but instead try to interact with them. Think about your services in terms of “what’s in it for them.” Why should they care?
Communicate clearly about what you can do for them. Determine your Unique Selling Position (USP). Are you easy to work with? So what, everyone says that. What’s really special about you that no one else would even think to buy their widgets somewhere else? Figure that out and then go tell the world.
Communicate to them in different media. The dailies just ain’t where it’s at, man. People expect you to come to them, interact with them and entertain them. Where does your target market congregate? Where does it get its news? Where does it buy? How does it buy? You don’t have to spend a fortune doing it. A banner ad on an industry website or a business card sized ad in one of their newsletters has more power and reach to the exact people you are looking for than hundreds of dollars worth of ads in a daily paper.
Be professional. I’m not talking about a suit and tie, but if your industry expects that, of course, follow the established standards. When a marketing skirt says “professional” she means that you should project a professional image with your marketing materials, website, and any other communications pieces to be seen by the public. Hire a designer, find a marketing intern, or ask your Aunt Ida to proofread the materials. Make sure your image is polished before it heads out the door.