With the tech explosion happening during most of their formative years, Millenials are used to social media being a main element of daily life. Because of this they’re also used to, and wary of, being ‘sold to’ online. That’s why influencer campaigns are such an effective tool for marketers hoping to reach this generation; it provides a seamless and effective way to reach Millennials without needing to rely on disruptive (and expensive) ad campaigns.
Here are a few key traits and preferences to consider when crafting an influencer marketing campaign that targets Millennials…
Millennials trust influencers with their dollars, and so should you
With social media being so deeply integrated into daily life, influencers have become trusted sources of inspiration and information. In fact, 91% of millennials report that they trust online reviews as much as they trust recommendations from friends and family, and 94% say they’re more likely to trust the opinion of an influencer over their friends or family when it comes to making shopping decisions.
In a study comparing the ROI of display ads to influencer marketing, influencers had an 11X higher ROI than traditional digital advertising. Presented with such an irrefutably high ROI, many marketers report they will continue to earmark more of their budget for influencer campaigns over traditional advertising methods.
A recent rise in financial optimism
Over the past decade, Millennials have grown to be more optimistic consumers. Many millennials graduated into The Great Recession, struggling to feel financially secure as entry-level workers in an economic downturn. As time went on and the economy recovered, both the spending power and the level of optimism increased for the Millennial generation.
Consider this sense of optimism when putting together an influencer marketing strategy. The idea of a product, brand, or service being a “worthwhile investment” aligns with that optimistic outlook. Whether it’s buying oneself a piece of luxury jewellery or looking for design ideas for first-time homeownership, brands that focus on content that is inspirational yet attainable fare extremely well with millennial audiences.
Millennials are also willing to pay more for products and services that align with their personal values. Brands that call out dedication to a cause like environmentalism or diversity see much higher engagement rates, particularly after the events of 2020.
Prioritise unique, curated experiences (yes, even during COVID)
Pre-Covid, millennials were known for seeking out “Instagramabble” experiences, locations, food, and even products. From the restaurants they ate at, to the festivals they attended, to the places they shopped, millennials jumped at any chance to take part in a curated experience.
Now without those opportunities to enjoy in-person activities, millennials are turning to social media for ideas on how to keep life interesting. Brands can tap into that desire for variety by getting creative with their social content, framing their product or service as part of a curated experience. A candle can become a centrepiece in a social-media-worthy self-care ritual, a grocery delivery box can be the catalyst for a romantic in-home date night, a B2B Zoom conference can be a unique networking opportunity…the possibilities are endless. What matters is the feeling of having exclusive access to a unique, curated experience.
Let millennials see themselves reflected in branded content
From racial diversity to different body types and gender identities, Millennials respond positively to seeing real people like them reflected in branded content. In fact, user-generated content served via social media performs better than any other kind of marketing for this age group. This is why influencer marketing is particularly effective with millennials.
On the flip side, Millennials do not respond as strongly to celebrity endorsements that seem unattainable and removed from their daily experience. For this reason, it can be beneficial for brands to re-allocate funds for celebrity endorsements in favour of micro-influencers and user-generated content.
While both Gen Z and Millennials want to see real people with diverse features in brand campaigns, the aesthetic of that content is one point where marketing for Gen Z can sometimes diverge from marketing to Millennials. Gen Z places a higher priority on an unfiltered and “raw” aesthetic, while Millenials tend to enjoy a more curated, “aspirational” experience.
Relevance rules
Millennials’ purchasing habits tend to prioritise uniquely memorable experiences and personal identity. If you are targeting Millenials, partner with influencers who prioritise those same values.
Above all, brands should make sure the content they’re serving audiences is relevant to that audience’s unique preferences and stage of life.
Want to know how Allegiant Media can help you discover and connect with the perfect influencers for your campaigns? Get in touch and we’ll show you how!
This article was originally featured on TaggerMedia.com on January 19, 2021.