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Marketing to Millennials in Denver’s Changing Landscape
Marketing to millennial’s is like marketing to any other segment or demographic. But the segment millennials has so many sub-segments so be careful when mapping your buyer’s journey.
As a Denver digital marketing agency, that been around since 2002, marketing to millennial’s can pose a challenge for many B2C and D2C companies.
For anyone living or working in Denver, Colorado it’s no mystery that the city is expanding.
Rush hour is getting longer, cranes dot the skyline, and a walk through downtown feels busier than just a few years ago. People are moving here in droves for a variety of reasons, but most often you’ll hear it’s for the booming and growing job market.
In fact, it was just announced that Colorado’s unemployment rate is the lowest it’s been in 4 decades. If that isn’t enough of a reason for young people wanting to move to find the right city, then I’m not sure what is. Well, maybe skiing. Now, this influx of new residents is also bringing a shift in the state’s demographics.
Research shows that marketing to millennial’s:
More than 52 percent of people moving to Denver in 2014 were millennials, the largest amount of all groups. In 2015 they represented 24 percent of the region’s total population.”
Operating a business of any size in the state now means adapting to this cultural change and being aware of how to best reach these younger customers.
Not only do residents of Colorado provide marketers with a unique set of opportunities to capitalize on, but millennials do as well for broader reasons. The influence of the internet and social media, the desire for instant gratification, and the rise of subscription-based pricing all play a factor depending on your business.
Finding synergy and common ground between these two markets – Denver and millennials – and better understanding their needs will allow you to market to them more effectively here and eventually abroad.
Let’s review three of the main marketing strategies and tactics you should look for when partnering with a Denver marketing agency. For our purposes here and the sources of the numbers above, millennials will be defined as people born between 1981 and 1997.
Don’t make assumptions, use marketing attribution.
We all know that this age group responds more effectively to digital marketing than others, but it’s important to keep in mind that they also have on average less disposable income to take action.
Even though baby boomers and older generations have a tendency to save and “pull the trigger” less often, it’s wise to not rule any customers out until you can confirm who exactly is providing a return on your marketing investment.
This might mean repeat customers or large purchases depending on your offering, and while there are many types of attribution, we’ll focus on two of the most important here.
As the demographics of Denver change, it’s likely that your customer base will be changing too. Being able to pinpoint who your best customers are allowing you to focus more of your spending in the right place and at the right time.
First and foremost, you’ll want to narrow down how much of your customer base are millennials. Is it 10% or is it 90%, and do you have the data to back this up? How to do we see this shifting as more people move into Colorado?
Working together with a Denver based marketing firm can get you the local insight needed, and can help attribute your sales and key performance indicators to a specific age group.
This will help set the groundwork to better marketing and a deeper understanding of your customers in the big picture. By developing proven and defensible buyer personas that may differ from the original notions of what your average customer looks like, you can save both time and money and ultimately see greater growth.
Through this process, a more targeted marketing strategy can be put into place that has the added goal of narrowing down these personas even further over time.
This is accomplished by determining demographic attribution which is provided by tracking tools available to digital marketers today. Platforms like Google Analytics, Kissmetrics, and certain social media sites, in particular, can help pinpoint the age and makeup of those people taking action.
Focusing more on your budget on your best customers is great, but being able to identify them even closer is the next step to take. Millennials, depending on the survey or study, encompass about a 16-20 year age span, so attributing sales and marketing actions back to a subset of this group will help greatly.
Pareto’s 80/20 rule comes into play here, where it’s often found that 80% of profits come from just 20% of customers. So knowing that 20% of people are as close as possible should not be overlooked.
If you know that your best customers are in their late 20’s then you can target advertisements on social media and other platforms to reach just that specific audience and determine your return. You can take this further and tailor your website content towards this smaller age group or even promoting yourself at events that attract these types of people.
The other attribution approach a proactive Denver marketing agency will help you understand is channel attribution. Simply put, this is determining the campaigns or types of marketing that have proven to be most effective. Is it social media, digital advertising, email campaigns, an inbound content marketing strategy, or something more traditional?
This ties directly together with demographic attribution as well, since many of these channels can be better defined with a clear understanding of your average customer’s age.
Many businesses or agencies run into problems when targeting millennials because they make assumptions about consumption behavior equating to marketing effectiveness.
Regular social media use does not always mean effective Facebook ads, just like a readiness to turn to Google for every answer does not translate to a return on your AdWords investment.
Using a marketing platform like HubSpot will allow you to develop specific campaigns around your efforts and determine exactly where your key performance indicators and sales are derived from. Just like honing in on specific age groups and demographics, this process can save you huge amounts of time and money on ineffective marketing.
Millennials are truly the first generation to grow up ingrained on the Internet. It’s revolutionized the workforce, allowing people to work from anywhere and thus have a more mobile lifestyle.
That trend is common in Denver as entrepreneurs, startups, and freelancers flock to the area to experience the culture without the need to feel too tied down.
In fact, according to Denver Business Journal, “The number of millennial entrepreneurs in the Denver area has increased dramatically in the last several years — from just 2 percent in 2000 to 34 percent in 2013.”
The internet is not only the means of how young professionals work, but it’s how they stay connected and pass the time. Social media has become the core of this as more platforms emerge and become another part of our daily life.
Proactive marketers saw it coming and got connected on social media early on, however, the opportunity is still ripe for many businesses. Getting your brand visibility has never been easier but the challenge lies in doing it well and effectively for your bottom line.
A Denver marketing firm that truly understands the local culture, millennial behavior, and the pervasiveness of social media, will give you a leg up on the competition when implementing your approach.
Attribution certainly comes back into play here once more. Determining which social site works best for your business is really the key. Don’t waste hours posting on every social media site, when only a few are bringing in traffic or sales.
Do you know what’s best for your company? Is it Facebook, Instagram, YouTube, or even LinkedIn if you sell business to business? Identifying which of these brings you success and also reaches your target markets are a first and necessary step in social media marketing especially as you target a specific age group.
Social sites, of course, have learned how to capitalize (and monetize) on their incredibly large audiences and serve ads “seamlessly” together with the rest of the content.
Unsurprisingly it has not turned off many users, with platforms continuing to grow and not seeing much of a decline in the time people average on the site from year to year. Interaction with ads themselves has also proven steady, providing marketers with little doubt that it will be going away anytime soon.
Facebook is usually the benchmark to gauge social media’s success in general, and it is not wavering in popularity and ad engagement.
Research shows that:
Instagram, which is owned by Facebook and managed equally well continues to perform well in the eyes of marketers. Another Social Media Examiner study details, “On average, 36.5% of Millennial respondents increased usage, 40% use Instagram the same length of time, and 24% decreased their time on Instagram.”
Lastly, social media is often challenging because you are trying to reach people in a place first meant for socializing and sharing. Companies learned the hard way that a straight sales pitch would not work and have adapted accordingly.
Using these lessons learned, it’s important to develop your brand’s culture and portray it clearly on social media, instead of just driving people to buy or take action.
Netflix is notorious for doing social right, as this Brand24 Case Study reveals. By developing a fun-loving and creative tone that resonates with large amounts of its millennial user base they have successfully been able to pull existing and potential customers into their service, instead of pushing them through sales.
It’s can’t be overstated that this approach should be at the top of your social media planning and strategy list when targeting not just millennials, but also Denverites. The local culture requires it and being out of touch is an easy way to have your company go unnoticed on social media.
Develop content calendars that integrate local activities and events, whether it’s skiing or hiking, the scores of live music events, or even the thriving art scene. In the end, you want to make sure your brand reflects the feelings that Denver provides for so many of its citizens and become a part of it.
Leverage the local culture.
Speaking of the local culture – you’ll want to use it to the best of your ability. While huge numbers of people are moving here from across the country and turning it into a melting pot of millennials, the city and state also represent a unique culture not found elsewhere in the country. Transplants understand this and more often than not it’s a central reason why they moved here in the first place.
Working with a Denver marketing company that understands this culture and can help you seamlessly integrate much of what makes the area so great, will set a strong foundation for your long-term success.
So what makes Denver so great, and how do you fit in? Let’s take a look at a few examples of companies doing their local, millennial-targeted marketing and branding right.
The underlying theme all three of these companies have is that millennials are right in their target market. They have successfully been able to merge a locally influenced marketing approach with the specific tactics that reach their younger generation of customers.
It’s not an easy feat for all companies, but partnering with the right marketing agency in Denver can make all the difference. Instead of falling back on traditional approaches, take a close look at what unique and emerging opportunities are provided by the millions of millennials in the area and take advantage of it.
Are you not getting the results you had hoped for with your current marketing agency? Let the experts at this digital marketing agency help you generate more web traffic, convert more leads, and close more sales. Our team knows just what it takes to build and maintain a proven marketing strategy that drives high-quality leads. For more information, check out our marketing services or contact us to schedule a free consultation to discuss your needs and our services.
Marketing to millennials isn’t rocket science. It’s incredibly intuitive because all it requires is a human touch. Talking at them doesn’t work nearly as well as authentically engaging with them. By offering authentic experiences, and engaging content, and by listening to what they’re asking for, you can empower them to discover your brand on their terms.
Why is marketing important to Millennials?
The most significant benefit to attracting a Millennial audience is their potential long-term value to a brand. However, a common misconception is that they aren’t brand loyal because there are always new and improved products entering the market. Millennials tend to place a strong emphasis on brands that “get them.”
What defines a millennial?
Pew Research Center has been studying the Millennial generation for more than a decade. .Anyone born between 1981 and 1996 (ages 23 to 38 in 2019) is considered a Millennial, and anyone born from 1997 onward is part of a new generation.
What is the millennial attitude?
More than anything, Millennials — those born from the early 1980s to early 2000s — want control of their lives, so build the tools that give them control. Millennial is not merely a generation. It is an attitude that is reaching across generations. Millennials are poorer than their parents’ generation.