Comments Off on How To Sell To The Millenials Part II
In May 2013,Timewrote an article titled “The Me Me Me Generation” that stated, “They’re narcissistic. They’re lazy. They’re coddled. They’re even a bit delusional. Those aren’t just unfounded negative stereotypes about nearly 80 million Americans. They’re backed up by a decade of sociological research.”
There is a positive side though, the Millenials are open-minded, confident, express themselves well, upbeat and open enough to consider new ideas. They generally are not very impressed by big houses or flashy cars, although I’ve met quite a few that are into the flashy cars. These Millenials do have more spending power than any other generation in history and have absolutely no trust in traditional advertising. In fact, only 6% trust online advertising.
So you’re probably wondering, who do they trust then? They trust word of mouth by way of their friends through social media; 98% of them will engage a friend’s post on social media rather than a brand’s post. This can be misleading if you don’t understand what’s behind this exceptionally high number.
When someone likes, comments or shares something related to an experience they’ve had with a business, it shows up on newsfeeds their friends see. More than 50 percent of Gen Y can be expected to engage with friends’ posts at least one time each day. If they tweet about their experience (Gen Y uses Twitter more than any other generation), their friends see it. Same for Google+ and Facebook.
This shift in focus in the millennials means that 95% of them will point to their friends as the most credible source of product and service information and 91% say that they would consider purchasing a product or service based off a friend recommending it.
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