6 Ways to Attract Millennials to Your Startup

June 1, 2016

3:11 pm

Keeping the customer happy is the best way to keep your business afloat. And without knowledge of their needs and wants, it can be impossible to effectively maintain positive costumer relations. Making blind assumptions about your customers never works. You need to study them in detail in order to make customer satisfaction a priority. And when it comes to a great customer, millennials are second to none.

Millennials are infamously buying, sharing and talking about the products and companies they love. And by marketing to them, you’ll be set up for success for years to come. But how do you do it? Take a look at these 5 tips to get a better idea of how to bring your startup into the new age.

Don’t Reinvent The Wheel

Many founders love to believe they are operating a completely unique business. But the reality is that there are many other companies that appeal to the same customer base you are looking to capture. Look for case studies from both your own industry and any ancillary businesses that reach out to millennials and see how they are getting them involved.

You should review case studies from these businesses to learn more about their marketing strategies. You may find that they give you some solid insights into your own customer acquisition strategy.

Use Focus Groups

Many firms limit their marketing research strategies to customer surveys. And while they provide some insight into customer buying patterns, surveys rarely provide the detail you need to make a difference. This is especially true if you want to know whether a particular product matches their needs.

Focus groups are much more effective. They allow you to solicit detailed feedback about your products. This gives you some great information about both your competitive advantage in customer service efforts.

Don’t Forget Analytics

In the digital age, every business should have an online presence if it hopes to survive. In order to make the most of your online business model, you must take advantage of the data at your disposal. Google Analytics and other tools can uncover invaluable information about your target customers.

Request Feedback

Getting feedback from your customers is very important. You want to know both what you’re doing right and how you can correct what you’re doing wrong. There are a couple of times you should seek feedback:

    • After you close an important deal.
    • When a major customer hasn’t contacted you for a while.
    • If a customer gives any indication that they are not happy.

Remember, unhappy customers are 40 times more likely to share feedback than happy customers. And with millennials more plugged in than ever, bad reviews could damn your company before you even get started.

Research Your Competitors

When creating a product for millennials, researching your competitors can help determine what is missing in the marketplace, leaving room for a need-filling startup like yourself. The team at 888 Ladies, for example, started to plan a new game called “Treasure Fair” by researching what was missing within the market. They found that competitor’s games were not available in 3D and made the decision that their game would be an immersive 3D experience.

Value Online Presence

Millennials need to be engaged in imaginative ways. By using social media marketing, you can forge personal connections between the consumers and your company. Investing in new technologies helps to eliminate negative customer experiences with your business. Combining videos and text on a website will build a relationship with the shopper that is lucrative and engaging.

Advertisements that involve the customer elicit psychological reactions that are often kept in the client’s mind for a long time after the initial exposure. You can be sure that millennials who have interacted with your product and your marketing message have given you their attention.

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Ryan Kh is an experienced blogger, digital content & social marketer. Founder of Catalyst For Business and contributor to search giants like Yahoo Finance, MSN. He is passionate on covering topics like big data, business intelligence, startups & entrepreneurship. Follow his latest posts on Clear World Finance and Forumsmix.com

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