Analyzing content research from a variety of sources, Cezar Kolodziej, President and CEO of Iris Mobile, portrays the largest generation in U.S. history. Millennials are the most highly targeted group by marketers due to their economic impact and purchasing power, projected to be $2.45 trillion by 2015(1), says the report. In the past they were identified as self-involved hipsters with erratic purchasing behaviors, but given recent research, a force to be reckoned with.
Millennials are the most informed consumer group, partly because they're the first tech-native generation. Thanks to digital and mobile innovation, millennials have instant access to almost everything in the palm of their hands. They rely on technology to discover the price of your product, your competitors' products, and what friends think about it via social before making a purchase. With so much information at their disposal, they're able to filter large amounts of content, which makes it challenging for marketers to get this audience engaged.
The author presents four suggestions essential to a well-crafted mobile strategy that resonates with millennials:
I. Since more than 75% of millennials access the Internet from their phone(2), a mobile site is a must-have. Research reveals that mobile click-through rates are 34% higher when matched against other platforms(3) so make your brand accessible via mobile to take advantage of this prevalent behavior, using fundamental digital marketing practices applied to mobile devices the audience uses most.
II. 90% of millennials spend time on mobile devices sending and receiving messages(4), a powerful tool, with open rates exceeding 99%(5) can be an exceptionally effective channel for driving instant results from this audience. Once users are opted-in, relevant campaigns that deliver personalization and value will always outperform other types of content and prevent the list from shrinking.
III. Mobile apps are also a useful strategy to connect to millennials, as 60% of this audience downloads them to their devices(6). When considering building a mobile app, identify the type of value the app will provide for it to become an integral part of daily life. Using the app push notification feature along with messaging will be effective to continuously drive traffic and notify users about updates. Research shows that using app alerts(7) can increase usage by 540%.
IV. Millennials openly embrace social media, sharing what's on their minds. They want to engage with brands the same ways they engage with friends. Millennials want brands to not only provide content that's relevant to them, but also content they can share with their social media connections. A recent study(8) revealed that 73% of mobile searches lead to additional actions and conversions, with 18% of consumers sharing that content. Even with major purchases, millennials consult friends before making a purchase.
Mobile will drive communication and play a key role in building a more personal connection with the millennial audience for years to come, concludes the author.
Research references included in this whitepaper:
(1 Donegan, 2013) (2 Pew Research, 2013) (3 Macleod, 2013) (4 Pew Research, 2013) (5 Johnson, 2013) (6 Pew Research, 2013) (7 Respnsys.com, 2013) (8 Ritchie, 2013).