Reaching out to the next generation of consumers can be a powerful way to grow your business. People born in the 1980s and 1990s and who are currently between the ages of 18 and 30 have a combined purchasing power of over a trillion dollars and a unique way of determining which products they're going to buy. Tapping into this market segment requires an understanding of the their culture and a focus on their values. Here are seven things to consider.
Mobile Phone in Hand
85% of the next gen use smart phones and it's how they search for information and discover products. To reach them your business needs a presence on their mobile phones which includes business details, promotions, and mobile pay. A mobile strategy will be more important than an online strategy in the future.
Now, Now, Now
When the next gen wants stuff, they want it instantly. They don’t want to hunt around town for products, and they don’t want to lose time getting it. They want real time technology, they want to know what's nearby, and they want their time valued. If your business can’t keep up and give these customers an on-demand option and easy discovery, they will move on.
Friends and Friends of Friends
95% of the next gen say their friends are the most legitimate source of product information. Instead of traditional methods of marketing, word of mouth among millennials is a good way to create buzz and esteem for a brand. Platforms that allow interactions among this group are good for business.
The need for speed is crucial. Surveys suggest that if something can save millennials moments of time, they'll use it. This segment has huge responsibilities at work and at home and is busier than ever. Making payment transactions and check-out for your store a non-event is the best way to save them time and increase the flow of sales.
Doin’ It My Way
Millennial wants ownership over their experiences. They don’t want to be cogs in a wheel. They want self service and self-pay. They can most likely do things quicker than any business can. So why not give them full power over the purchasing experience and let them pay and check-out on their own device no matter where or how you sell. Doing so, especially by mobile phone, will encourage growth.
No barriers to information. They're sophisticated enough to know when businesses are not being forthright and will move on at the slightest obfuscation. Transparency is king. It’s easy to display everything about your business with digital technology and doing so will keep customers happy.
Keep It Natural
When it comes to food, natural is better. It’s clear to millenials that health is wealth and eating real food, minus the funny stuff, is the best way to enjoy life in the long run. Experiences matter. Aligning your products with the latest trends in nutrition is a powerful way to grow and expand within this group. Eco-friendly, mindful, artisanal and gluten-free foods are top choices.
Treatmo mobile pay and food discovery app connects to consumers in each of these areas. By connecting people to food through chat and photo share, Treatmo makes discover through friends fun and convenient. If you see it, you can buy it instantly on Treatmo, or discover where and how to get it if you don't see it at a nearby location.
Reach the next generation of consumers and give them exactly what they want. Open a store front in Treatmo today and target growth the next gen way.