At the beginning of 2020, many experts predicted that the Millennial generation was on track to be the largest share of homebuyers in 2020. That was, of course, before the reality of a pandemic within the U.S. was on the horizon.
Millennials were significantly impacted and molded by the 2008 financial crisis when many of the generation were coming of age. This created a general distrust in lenders and the overall finance industry among Millennials, which long deterred this generation from considering the purchase of a home. Experts expected this to change. Now, in the midst of a global pandemic, the Millennial generation could be more skeptical than ever of the housing industry.
While this group may be difficult to reach during this uncertain time, it is still possible and valuable to appeal to their needs and help them realize their dreams of owning a home. The key is to ensure you have built your brand in a manner that positions you as a trustworthy and transparent professional who can help them achieve their goals.
Put a New Spin on Market Research
It can be difficult to understand, adapt, and keep up with trends among the Millennial generation as an outsider. Consider networking within your community to find a Millennial professional that you can build a mutually beneficial relationship with. This can help the young professional learn the intricacies of your field and build their own brand as they help guide you through changes in the latest trends in the Millennial generation.
Build Your Social Media Channels
For the Millennial generation, social media is part of their everyday life and not simply a tool to share photos and connect with friends. In fact, most of the Millennial generation get their news from social media and use the platform to engage in discussion and keep up on the latest headlines. If you want to appeal to Millennials, you must have an engaging and relevant social media presence for your brand.
The use of hashtags (#) was first popularized by Twitter but are now used across most social media platforms. The hashtag is a type of SEO for social media marketing with many individuals following specific hashtags. It is important for you to create and implement your own hashtags unique to your brand. Then, incorporate popular industry hashtags when posting events and content for your company.
The Millennial generation finds social media appealing with its combination of minimal text and appealing imagery. When creating ads or print flyers for your company, keep social media in mind and create marketing material that is visually appealing and easy to share. Focus on bold, dramatic imagery and key phrases. Ensure that the social media pages for your brand are accurate and easy to find. Start by setting up your social profiles in your CardTapp app so they’re easily accessible.
Grow Your Referrals and Rating
The Millennial generation relies heavily on recommendations and will research a company’s reviews when considering engaging in business with them. They trust others’ opinions when making decisions regarding a company.
In order to ensure your company is found on Google when researched, claim your Google business listing and complete your Google business profile if you have not already done so. Word of mouth and referrals are crucial for your business to stand out and grow amongst this generation. Do not hesitate to ask customers for feedback and reviews on your services. Use the CardTapp SMS Marketing tool to quickly send a request for feedback and add a button in your app directing your customers to your Google review page so they can quickly and efficiently access your site to leave a review.
Prepare for the Shift in Homebuyers
You, your community, and your industry are facing a period of significant uncertainty. Although it may be difficult to pivot to a new target market during this difficult time, it is still important to adapt your brand and build your connections for the future of the housing market. While 2020 may not be the year of the Millennial home buyer, the rise of their purchasing power is inevitable. Continue to build and expand your brand to appeal to this generation in preparation. Contact us to learn more.