“One of the largest generations in history is about to move into its prime spending years. Millennials are poised to reshape the economy; their unique experiences will change the way we buy and sell, forcing companies to examine how they do business for decades to come.”
I love this statement by Goldman Sachs. It highlights the fact that, as consumer habits evolve, companies must review their sales approach to match the requirements of their customers. And millennials are a demanding consumer group indeed.
Unless you are Generation X or a “Baby-boomer”, you probably don’t know who the “Knight Rider” is. It’s also likely that you’ve never watched David Hasselhoff as Michael Knight or know about his amazing car, KITT. Having grown up with Apple, Tesla, Wearable Technology and the Internet of Things, Michael Knight’s smartwatch and his self-driving car would probably seem rather banal. The fact is that millennials have more than twice the number of smartwatches than the general population (Fluentco) and view cars purely as a means of getting from A to B.
And yet, this tech savvy, hard-to-impress consumer group will represent more than ⅓ of the global workforce by 2020 (Manpower) and is expected to have more spending power than any generation by 2018 (Ascend) – facts that put them at the top of any salesperson’s or marketer’s list. Millennials regularly spend more on gadgets and entertainment, and almost 70% buy clothes they hardly need (CNBC). Furthermore, email marketing works perfectly for them: over 2 in 3 (68%) admit that promotional emails impacted their purchasing decisions at least on a few occasions (Fluentco).
There you have it. Hard-to-impress but ready-to-spend, and responsive to promotional emails. A generation that is poised to reshape the economy.
So how can we improve our email marketing techniques to match the heightened demands of millennials? Here are some tips:
- Be visual. Your target audience cares about experiences, so make your emails rich in visual material, especially videos.
- Be clear. Millennials tend to be loyal, as long as they trust you and you are clear about your intentions. Your email communication should reflect your brand’s openness and transparency. Use email to build engaging relationships and maintain a dialogue rather than to sell.
- Stick to the point. Keep your email simple and brief. Like a text message, but with proper spelling and a little more content. Don’t try to impress with long introductions or complicated references. Instead, make your copy scannable and easy to read.
Millennials are a key target audience for most companies and “their unique experiences will change the way we buy and sell, forcing companies to examine how they do business.” For this particular group, it’s all about the experience. At SparkPost, we can help you deliver a consistently better experience, every time.