Why Millennials Are Great For Small Business Growth

Why Millennials Are Great For Small Business Growth

There is a growing perception that millennials are not brand loyal. Just as they may tend to job-hop more than the average worker 20 years ago, they also may jump from one brand to the next. Wherever there is a deal, there is a millennial.

The truth is that millennials are loyal to brands for the right reasons, and they love small businesses. They may even be the secret to small business growth. They bring a lot of value to the table, and not just in terms of dollars. They have extensive social networks, hold well-paying jobs, and many of them even have a family to support. Millennials are also the age group with the most buying power.

Here’s why millennials are great for small business growth, and how you can appeal to them with your marketing.

Millennials Invest in Brands like Stocks

If you are searching for brand loyalty, this age group should be your focus. According to CNN, millennials are the largest generational group and the most diverse. But they don’t just buy into brands overnight. They require courting, expect high value returns, and trust brands with a cause more than those without one.

Just as you would never buy stocks without doing research first, millennials are big believers in making smart investments in small businesses. One way you can appeal to their need for value and trust is to align your brand with a local charity or cause. Partnering with a non-profit expresses the ideals of your business is a way that adds credibility to your brand. It also makes your customers feel good about their investment in you.

Related: 5 Examples of Behavioral Targeting Your Small Business Can Use

Millennials Love to Share

Most millennials grew up with technology. They are avid users of social media sites such as Facebook, Instagram, and Snapchat and expect small businesses to also share their love for social media. They love video content, especially Facebook Lives and Instagram Stories, and are big fans of sharing the content they love with their personal network.

Having a website isn’t enough anymore. An active social media presence is not only advantageous with millennials but also baby boomers, Gen Z, and other generational groups. If you think outside the box, make them laugh, or do something original, you have a much higher chance of seeing your content go viral (thus skyrocketing your brand visibility).

Related: Facebook’s Best New Small Business Marketing Features

They Trust Other People’s Feedback

If you can get people to talk about your small business in a positive way, millennials will buy. Perhaps more than anything, they love reviews. In fact, social proof is one of the most important marketing tools your small business can use to gain new millennial customers.

Brand reputation simply isn’t enough anymore. Cost plays a factor, but quality is what really skews this age group. A recent infographic from Goldman Sachs shows that “when marketing to millennials, a strong brand isn’t enough to lock in a sale” anymore. They need more. They need the testimony of other people who have tried something first-hand to truly believe in its value.

Related: How to Use Micro-Influencers to Grow Your Small Business

They’re Smart Shoppers

Millennials generally take their time when shopping. They don’t just jump at the first thing they see, which is great for small businesses. Your brand might not be well known or available everywhere, but they will find it if you market your products and services well.

Since millennials love social media and their smartphones, try using Facebook mobile ads to reel them in. Start by promoting free content to grab their email address then hit them with a strong email marketing campaign. You’ll be surprised at how well they respond to this kind of marketing approach – and how much more you can sell!

Related: 5 Digital Marketing Trends Every Small Business Owner Can Use

Breaking It All Down

Millennials are fans of the underdog. They will buy from your small business as long as you have great online reviews, market where they’ll see it, prove your worth, and promote unique valuable content. It sounds easy, but it does take a fair amount of work. It’s worth it for the biggest, most diverse age group with the biggest spending power though, right?

If you need help, check out these highly effective (and affordable) marketing packages to get started. There’s something for every small business, with everything from email marketing to social media and content marketing. Ask about discounts for new customers, too! We’re happy to help.