As the millennial generation grows old, its buying power becomes more and more significant in the market. Tapping that market means reaching out to a potential buyer base worth billions, so it is no surprise that many businesses are adjusting their strategies to attract millennial customers.
However, Millennials are not known for sticking to tradition. Even though something worked in the past, it does not necessarily mean Millennials will take to these marketing or advertising strategies. Add technology advancements with the internet and one can tell that both corporations and small to medium enterprises (SMEs) alike are competing for the market’s attention.
SEO and Social Media
An interview on The Huffington Post with an SEO expert claims that Millennials, being the first generation to grow up with the internet, relies on it as a source of information. The best way to get a business on a millennial individual’s radar is to maintain a strong online presence. Otherwise, enterprises remain invisible, missing a lot of opportunity in favor of competitors who are online.
SEO and social media are just two of the most influential digital marketing techniques to attract Millennials. Out of 72 percent of people who use search engines to find nearby stores, 61 percent are converted into successful purchases. SEO puts both corporations and SMEs on an even playing field, and a good and effective strategy can find a business climbing the search engine results for the right keywords.
Social media for SMEs can also reach millions of Millennials active on social media. According to Forbes, they are profoundly influenced by social media, reviews, and relevant advertisements. By having an active social media presence, they attract more attention and can provide different marketing plans that not only attract customers but also increase brand loyalty.
Is It Worth It?
Is having a comprehensive digital marketing strategy worth tapping into the millennial market? According to the numbers, it is more than worth it. In 2017, Millennials had a potential $200 Billion buying power due to the opportunities social media alone provides.
While they have a lower median income and less disposable income, they make up a significant part of the online scene, which can only grow from there. Millennials are less likely to buy luxuries but are more likely to support SMEs, patronize local stores over corporations, and support companies that push for an environment-friendly economy.
Catering to the millennial market involves a lot more creativity and going beyond the same cookie-cutter methods that have worked in the past. It can be challenging to market to Millennials, but with their tremendous buying power in the market, it will pay off in higher revenue.
Sievers Creative offers Minnesota SEO services for SMEs in Red Wing. We are the go-to agency that turns small businesses into strong online brands with an extensive array of services. And while we are located in Red Wing, MN – we serve clients throughout Southeastern Minnesota and Western Wisconsin.
We understand how SEO can help you grow your business. Contact us to learn more.
