When it comes to marketing, you need to consider who your target audience is. You can’t market to everyone and expect to be successful. It’s important that you narrow your focus, and target a specific group of potential customers. Millennials are a great group to target because they’re tech-savvy, social media-savvy, and they’re always looking for new trends.
Who are Millennials?
Millennials are those who were born between 1980 and early 2000. This demographic is currently the largest age group in the U.S. In 2014, studies reveal that millennials have an estimated purchasing power of $1.3 trillion.
With technology in their hands, the majority of millennials’ purchasing decisions rely heavily on thorough research and recommendation. This generation is the most challenging age group to market to as they are skeptical about their purchases and are not easily persuaded by paid advertising.
What Influences a Millennial’s Purchase?
So if you’re wondering what millennials are buying online, here are a few things that can influence their purchases.
If you’re a millennial, you’re probably more likely to purchase an item if you’ve read or heard positive recommendations about it from people you know and trust. That could mean your family and friends, or it could be people whose opinions you really value. Either way, it’s helpful to get a second opinion before making a purchase.
Millennials are more cautious about spending their money on products that are too expensive, as many of them are still paying off student loans. In the older age group, this attitude was brought about by the US recession in early 2000. That doesn’t mean that they’re not spending – they’re just being more careful about where their money goes.
If you’re selling a product that supports a cause, you’re more likely to appeal to millennials. In fact, 50% of millennial parents are likely to buy products that support charities or causes. Get involved in something bigger than yourself and you’ll see your sales grow.
It’s no secret that millennials are quick to turn to social media when they have something to say, good or bad. Brands that are active and engaged on social media are more likely to win the support of millennials. Why? Because millennials feel the need to connect to a brand. They want their opinion to matter. If they have a bad experience with a purchase, whether it’s an inadequate dining experience or a faulty factory defect, they’re not afraid to voice their opinion on social media.
With technology at their fingertips, it’s no surprise that millennials are known for making most purchases on their mobile phones or tablets. After all, businesses have to create seamless cross-channel online shopping experiences to cater to this group of people who use up to four devices per day!
What Do Millennials Buy Online?
There are several factors that millennials take into consideration when making a purchase, but they are more likely to buy on impulse than any other generation. This is because they have access to information and are often short on time because of their busy schedules.
Studies have shown that millennials still spend the most on apparel and hair & beauty products. Brands have made it easier for millennial shoppers to access their products 24/7, with 72% of this generation searching online before they visit a store.
Having this data makes it simpler to target Millennials. If roughly 70% of affiliate marketers’ target consumers are Millennials, they should be judicious about the offers they select. Getting to know your target audience would go a long way. If you take the time to understand what sort of products they want in their life and how these items would help them, sales will eventually follow.
If you want to be successful in affiliate marketing, you need to have a good understanding of your target audience. The truth is that millennials can be tough to reach but with the right strategy, you can definitely tap into their wallets. So when you set up your affiliate campaign, make sure you target millennials.
Have you been successful in targeting millennials in your campaigns? Join the conversation and leave us a comment below.
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