If you haven’t started to think of ways to market your business specifically to the millennial generation, now is the time to do so. According to an article in Huffington Post, millennials are a group of 86 million consumers, with an expected $2.45 trillion in annual spending power. So how do you begin to reach these potential customers? Here are three things to keep in mind:
1. Be tech savvy: Millennials are well-known for being permanently attached to their iPhones – take advantage of this by being consistently present online. Keep your website updated and be sure to give consumers the option to shop online. Be conversational on your social media pages – don’t just sell your products. Share insights into your business, fun or educational tips and community news to get your followers talking. And don’t forget to consider online advertising options in your marketing budget.
2. Be transparent: According to an article in Entrepreneur, millennials are the most highly educated generation in American history, and with the incredible amount of information available in the palms of their hands thanks to smartphones, they’re also well-informed consumers. They take the time to research products online, check your business’ reviews and ask their friends on social media for opinions before making any purchases. You don’t have the option to advertise one service and sell another.
3. Be good stewards for your community: Take a cue from some of the most popular brands for millennials today, like TOMS or Apple. They practice corporate social responsibility, giving back to their communities and striving to offer eco-friendly products and services. Find ways to be socially responsible in your business, like ‘going green’ in your offices or volunteering for community organizations, and promote these efforts!
Telhio Credit Union has a variety of business products and services, such as checking accounts, lines of credit or business loans that can help your business succeed. To contact a member of Telhio’s business services team, call 614-221-3233, option 6.
For more tips on marketing to millennials, read Marrketing to Millennials? Make It Personal and Customized by Debra Kaye or 5 Tips for Marketing to Millennials From a Millennial by Ryan Donegan.
Telhio is open to anyone who lives, works, worships or goes to school in Franklin, Fairfield, Delaware, Licking, Marion, Pickaway and Union counties. Founded in 1934, originally as the credit union for the Columbus Telephone Co., Telhio is a not-for-profit financial cooperative where its members are also its owners. Driven by its philosophy that members come first, Telhio is committed to the highest standards of responsibility and conduct. Telhio offers a variety of innovative programs, services and products to support its members’ financial needs. Telhio offers six branching offices throughout central Ohio and nearly 4,000 shared branching locations nationwide. Additionally, Telhio credit union participates in the highest level of combined federal and private share savings insurance available, insuring deposit accounts up to $500,000.*
* Federally insured by NCUA. Additional coverage up to $250,000 provided by Excess Share Insurance Corporation, a licensed insurance company.