Marketing to Millennials: Why and How.
They’re a force to be reckoned with, but how do you reach them?
At one time it looked like millennials would never be able to buy homes, due to crushing student debt, and coming of age during the great recession. Now, they are becoming homeowners in large numbers, which makes them strong prospects for home improvement professionals. Here is why you should target this influential generation and how to do it.
Why
According to the National Association of Realtors 2019 Home Buyer and Seller Generational Trends research report1, millennials make up the largest share of home buyers at 37 percent.
What makes them prime targets for home improvement pros is the age of the homes they are buying. According to the study, the average year the purchased home was built was 1984 for older millennials (29-38) and 1980 for younger millennials (21-28). That makes them prime candidates for home improvements and remodeling projects of all kinds. So you need to know how to reach them.
How
You can certainly reach out to millennials using the media and messaging you currently rely on. However, here are some tactics that will help you target them more effectively:
Here, there, and everywhere. When it comes to social media, you have to be there, and “there” is everywhere. Facebook, Twitter, YouTube, and Instagram are obvious but don’t ignore Pinterest. If you’re wondering where to go and what to do when you get there – hire at least one millennial to help with your social media marketing.
Referrals and reviews are the magic dust. Ask for reviews from every customer for whom you successfully complete a project. Create a referral program that rewards customers who refer someone they know. Produce video reviews starring your most delighted customers and put as many as possible on your website. Promote them on social media and via email marketing.
Make your marketing visual. Speaking of videos, your YouTube channel (you do have one, right?) should include videos that provide useful information about the products and services you offer. Not promotional, but educational. Talk about customization, appearance, and quality. Stress getting the job you want and not settling for good enough.
Focus on value, rather than cost. Research shows2 that millennials are more interested than other current generation in the return on investment from home improvement projects. That focus may mean they are prepared to invest in better products and more services IF they can provide a higher return on their investment. This means you better be ready with financing options.
Keep your website up to date. That goes for the look and feel as well as the content. Millennials are on their smartphones constantly, so your site must be phone friendly. You should consider voice search when creating content and optimizing your site for SEO. Voice searches tend to be longer than typed ones, so think more in terms of long-tail keywords. Consider using a Chatbot to answer questions and gather contact data. These days, you don’t even have to pretend it’s a real person.
Millennials are the most connected generation ever and you have to reach them where they are – which is often on their phones. With the right content in the right places, you can be the go-to professional, turning older houses into the home of their dreams.
1. National Association of Realtors 2019 Home Buyer and Seller Generational Trends research report.
2. Homeadvisor.com State of Home Spending Report.
The views expressed on third party pages linked from this blog post are those of the author(s) and do not necessarily reflect the views of GreenSky, LLC, its management, or subsidiary companies.