Want to Get Gen Y to Buy? 7 Ways to Do It - Think Social
Want to Get Gen Y to Buy? 7 Ways to Do It - Think Social
Technology has changed the way we provide information about ourselves but it also provides insight for marketers and sellers to target their buyers.
Gen Y are always the early adopters of social networking and they willingly provide personal information that helps marketers sell to them. Information such as Gen Y's friends and family, colleagues, romantic interests, hobbies, interests, political preferences, grievances or causes. And all this information sharing takes place in unprecedented quantities: never before were people able to build and maintain such extensive and relevant personal networks.
Some numbers:
Twitter: 100 million+ users, with 50 million tweets sent each day.
Facebook: nearing 500 million users. The average user has 130 friends, spends 55 minutes a day on the site and receives three "event invitations" to real-life gatherings every month (in December 2009, the company stated that 3.5 million events were created every month). Next? According to The New York Times, Facebook will soon incorporate 'location' in two ways: its own features for sharing location and APIs to let other sites and apps offer location services to Facebook users. This could well be a marketers and sellers killer app.
LinkedIn : over 65 million members. A new member joins LinkedIn approximately every second.
A site like Meetup has 6.1 million members, handling 2.2 million RSVPs and 180,000 meet-ups, in 45,000 cities a month.
Foursquare has one million users, while Gowalla: 150,000 users.
Nearly three quarters (73%) of online teens and an equal number (72%) of young adults* use social network sites. 73% of adult profile owners use Facebook, 48% have a profile on MySpace and 14% use LinkedIn. (Source: Pew, Feb 2010.)
The sheer numbers above shows us that the obvious places to hang out and to get Gen Y to buy are online and through their smart phones. Imagine being a Gen Y sitting on the subway, you are on Facebook and all of a sudden a coupon pops up telling you about a sale at your favorite store. You can bet that Gen Y is going to find a way to a) get to the store or b) buy the items via their smartphone.
The days of instant purchasing are upon us. If you are in the retail industry you have an opportunity to attract this dynamic generation. Here are 7 ways to attract Gen Y to your retail business:
1. Make your product or service technologically accessible- you must have a website that gathers their cell phone number so you can market to them via text message, you must have You Tube videos on your products & services, you must have an easy checkout process and you must have a mobile app linked through an online store.
2. Gather your Gen Y's cell phone numbers NOT their email addresses. Gen Y rarely check their email BUT they do constantly check their incoming text messages. Market to your Gen Y via text message.
3. If your business warrants it sign up with a mass online coupon company such as groupon.com Gen Y wants advance notice of discounts.
4. Figure out ways to make your product or service 'customizable' that's the beauty of the Iphone and Blackberry is you can customize the apps, the cases, the ringtones etc.
5. Put your product and services up on Facebook where users can be a fan or on Twitter. Create discussion groups and get happy Gen Y customers to post videos to Facebook and You Tube- have a contest for best video, promote this via social media.
6. Find the bloggers who are in the Gen Y demographic and offer to sponsor or advertise on their blog. Post comments on blogs and sites where your product or service is a clear 'fit' with the blogs.
7. Create events that are marketed through social media and send them through text message. Text something like, "Big Event at Future Shop" by text invitation only- be there at 6:00 PM. This is the same concept as a 'rave' where people are invited last minute- its hip, its fun and so Gen Y.
It is no surprise that hundreds of millions of people are now adding and tending to personal profiles (listing likes and dislikes, interests, preferences, physical assets, and opinions), making it easier than ever before to 'discover', or stay in touch with, likeminded others. This information is a custom marketer or sellers dream. Your market is telling you what they want!
Thanks to our web networks, Gen Y will stay linked, for the rest of their lives. With their blogs, MySpace pages, Flickr photos, YouTube videos, Blackberry conversations, Twitter feeds, and all the means for sharing their lives yet to be invented, they will leave lifelong Google tracks that will make it easier to find them and to provide them with exactly what they want.
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