Millennials: the largest, loudest and most tech-savvy generation to date. Every industry is investing considerable marketing dollars in learning as much about America’s 22 – 36 year olds as possible, and it’s no wonder why. Here are three fast facts about the Millennial generation.
Fact 1: Millennials are powerful.
With over $1.3 trillion in buying power, Millennials have more spending influence than any other generation. They’re an even larger population than the Baby Boomers. Their influence on the economy will be huge once they reach prime spending years.
Fact 2: Millennials are connected.
They’re the most social generation to date. The average Millennial consumer spends 25 hours online weekly. Most spend at least 7 hours a day on social devices like smartphone, laptops, and tablets.
Fact 3: Millennials are reading online reviews.
This drive towards digital has affected the way Millennials shop. According to a study by BOXT, 80% of Millennials never purchase a product without reading online reviews first.
Millennials consider online reviews more credible than digital ads. They would rather buy a product recommended to them by a friend, family member, or stranger than one recommended by an ad. Most read at least six reviews before buying.
So, where are Millennials reading your company’s reviews before spending?
Social networks force businesses to communicate more authentically than on traditional review sites, which appeals to Millennial’s desire for relationship and connectivity.
This has caused a shift away from online review sites like Yelp and Angie’s List and toward apps like FourSquare, Facebook, and Instagram. These social networks provide Millennials the opportunity to vent their frustrations, share their excitement, and receive immediate feedback from friends on purchasing decisions.
Millennials have more money, provide more feedback, and establish more connections with companies than any generation to date. Are you doing everything possible to secure the best reviews for your products?
We can help.
Our Local Listings Management services provide proactive listing updates that monitor, analyze and re-optimize your business information.
By logging in to your personalized dashboard, you can make a custom review to email customers. This can then be published directly online. Our Social Chatter tool gives you a summary of what people are mentioning about your business on social media outlets. Another useful feature shows you what images are being publicized by apps, maps, search engines, directories and social networks in connection with your business.
If your business is going to continue to thrive, you need to reach Millennial audiences. We can help you use business reviews to make this possible.