How to market to millennials
As the millennial generation enters their late 30s, you might find more of your clients fall within this demographic. It is important to understand how to market to millennials, including millennial property managers since they tend to have different worldviews than the Baby boomer and Gen X generations.
If you are a small business owner trying to market your services to millennial property managers, we have some tips to help you do so more effectively. From social media to word of mouth, there are marketing tactics that are geared toward millennials that can help you optimize your sales approach.
What distinguishes the millennial generation
To effectively market to millennials, it is helpful to understand how this generation differs from the previous ones. The millennial generation is defined as anyone born between 1981 and 1996. These people are particularly tech-savvy and quick to embrace new technology. According to Hubspot, they make up 25% of the population and have a collective buying power of over one trillion dollars.
Millennials are big consumers of blogs, how-to videos, and other forms of content marketing. In fact, they are 247% more likely to be influenced by blogs or social networking sites than previous generations. This is good news for vendors willing to invest in content-focused forms of outreach, as they have a very good chance of reaching and drawing in their target market.
But unlike boomers and Gen Z, millennials have seen their economic prospects diminish over their parents’ generation. For example, a Pew Research survey revealed millennials with some college education make around $36,000, which is lower than the $38,900 that the boomer generation was making at the same age back in 1982. Statistics like this call for creative marketing strategies.
Millennial property manager marketing tips
1. Lead with a strong social media presence
Millennials regularly use social media, and these platforms can be a way to introduce your company or service to new customers.
It is not uncommon for millennial property managers to learn about new products and services through social media channels. Often, they’ll ask questions on social platforms and this is an opportunity to start a conversation by providing a prompt and thoughtful response.
It is a good idea to tailor your content to each particular platform. For example, Instagram is more visual so it is a great place to showcase eye-catching photography or videos of your work whereas Twitter is a better format for witty copy.
2. Create authentic content
Authenticity matters to millennials. As the best-educated group in our country’s history, they’re not easily fooled.
“They can spot a paid endorsement a mile away, and are completely turned off by it,” says Carolyn Aronson, CEO of It’s a 10 Haircare. She explains that millennials put more stock in authentic reviews than they do celebrity endorsements.
“…Keeping things simple, real, and honest is how we market to all of our consumers, but is especially important to the Millennial who craves that messaging and holistic experience,” adds Jane Iredale, CEO of Iredale Mineral Cosmetics.
Informative blog posts, videos, e-books, and social media are all excellent avenues for authentic content creation that will resonate with millennial clients.
3. Foster a culture of collaboration
Millennials have a high appreciation for collaboration. They enjoy working in collaborative environments and do not shy away from voicing their opinions or ideas.
It can be helpful to view your marketing efforts as forming partnerships instead of trying to sell products. When pitching to millennial property managers, try to engage them at a deeper level with an eye toward relationship building that benefits both parties.
4. Focus on the experiential
Millennials have long valued experiences over things, but as we emerge from the ongoing pandemic the emphasis on experiences will only grow.
According to Adweek, 75% of millennials believe in-person events will be good for their mental health, and 69% say this kind of socialization will help them “break out of their pandemic rut and try new things.” Julie Arbit, Vice Media’s global SVP of insights says of real-life events: “We’re going to see a massive resurgence.”
But you don’t need to be a large company with splashy, over-the-top events to take advantage of this trend. Of those polled, 72% said they preferred smaller, community-based events where they could forge authentic connections. When it comes to attracting millennial property managers, consider holding in-person gatherings centered on shared interests or causes.
5. Word of mouth goes a long way
In addition to social media and other forms of content marketing, millennials rely heavily on personal recommendations. A recent study found that 77% have recommended a product or service in the last month, and 50% are more likely to recommend something by word of mouth than the average American.
You will be able to generate effective marketing strategies to reach millennial property managers with these tips. By forging authentic relationships, you’ll be able to grow your business among this key demographic.
VendorSmart can help you reach your target market
VendorSmart is a comprehensive platform that connects trusted vendors and property managers. Blending technology with a combined 70+ years of property management experience, we provide tailored solutions to meet the needs of both real estate professionals and vendors. Contact us today to learn how we can help your business.