Millennials are now taking over. More than quickly becoming the biggest population group, in the context of business, they’re emerging as the biggest decision makers when it comes to purchases given that they’re also dominating the workforce. For entrepreneurs, this is a challenge. How exactly do you make your business appeal to this profitable market? Well, these tips may help in your brainstorming:
Venture into an appealing business idea.
It’s much easier to make your business enticing to Millennials when it s already something they prefer. For instance, in food, the Gen Y looks for two things: nutritious and on-the-go. They want something healthy, which they can take anywhere. Thus, the popularity of frozen yogurt among this bunch. If you want to get into a food business that appeals to Millennials, consider getting a frozen yogurt franchise. If your store is Instagram-mable, that’s a sure plus point for your business.
Again, educate yourself about Millennial’s preferences as you judge business opportunities. This will help you in seeing which ideas are worth investing in.
Be intentional in being online.
This generation is tech-savvy, so you have to make sure that your business is there when they search on Google or check out their Facebook profiles. Establish a strong online presence. This means dedicating a team who will create social media content for you, encouraging your customers to write online reviews at your Google listing, and providing a mobile-friendly website that Millennials can turn to for more information about your business.
Remember, no matter how appealing your business idea is, if it doesn’t show up in their news feeds or google searches, it’s likely that they won’t go to you.
Tell a compelling story.
Yes, you should market your business online, but avoid being too hard sell. Millennials don’t like being sold to. And they know well if you’re not being genuine to them. A good strategy here is to tell a story, not about your business, but about the value your brand stands for. Remember that feminine products’ manufacturer that empowered girls to play sports? That’s an example of good storytelling.
Millennials are the biggest market for businesses today. Maximize opportunities to tap this profitable audience to make your business thriving.