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Take advantage of FOMO Marketing.
The fear of missing out (FOMO) is one of the largest forces in the millennial community. It can be either positive or negative – by making consumers feel special or make them feel isolated. Therefore, marketers should be careful in how they market the concept of FOMO. Creating and advertising limited edition products or content can give customers a common link to form relationships. However, if content or products are unreasonably exclusive and inaccessible, it can generate exclusion and create disdain. FOMO marketing gives your customers something to talk about online and in person, along with the desire to share their exclusive content with friends. Limited edition products are a great way for your customers to feel special, included and connected with your brand.
Make sure to appreciate your customers with your time.
Although millennials will not say no to gifts, freebies and discounts, a more important way to appreciate your customers is with your time. Make sure to invest your time speaking one-on-one with your customers to understand and respond to their needs and connect with them on a personal level. Since college students rely mostly on recommendations from their friends and peers, it is important to foster relationships that will create trust and establish loyalty. Your brand can do this by addressing their questions and concerns about a product, interacting with them about improvements and sharing with them certain rewards for their time and commitment to your brand.
Create special moments and experiences.
It’s no secret that millennials appreciate experiences over products. They want something that will leave them a lasting impression way after the product is gone. That is why millennials are more likely to spend their money on experiences rather than products – examples include concerts and travels. Millennials want brands that sell experiences that leave a happy memory for a lifetime. While the excitement of buying new products wears off, the excitement of a memory remains. This brings a community of people together who have shared the same experience. To learn more about millennials and the benefits of experimental marketing, click here.
For more information on how to market to college students, contact us at OnCampus Advertising.