4 min 30 sec read
When you think of millennials, you might think about your children or even about yourself. Millennials are those who are born between the years of 1981 to 1996, give or take. Estimated to make up about 50% of the workforce in the next following years, millennials have either just graduated college or are part of a young family. Keep this information in mind when you market to millennials.
The millennial housing market is important because they are trying to find their niche and won’t settle for less than best. Like everyone, millennials are going to need a place to call home and there are several ways to accomplish just that wherever they choose to settle down.
Being on all social media platforms gives you the advantage of exposing your home builder business to more people. I’m talking about Facebook, Twitter, Instagram, Pinterest, and Snapchat. Make sure you dedicate time to managing ongoing conversations on each account or you won’t be successful. If you don’t think you can manage them all, utilize Facebook because approximately 87% of millennials actively use it.
Who doesn’t want to be the star of the show? You should let millennials and people of all ages submit content. For instance, some organizations run holiday-themed contests asking their audience what they are thankful for. Tracking user-generated content is easy with a dedicated hashtag. Using them as a platform can build your credibility, expose you to new ideas and help you build a relationship with your market.
To have a successful home builder brand, word of mouth is critical in all ages but in particular with millennials. In fact, 95% of millennials say that friends are the most credible source of product information. Use this fact to your benefit and be sure to acknowledge those who promote you.
No one, especially a millennial, is going to wait for you to reply to emails, answer questions or provide feedback for an extended period of time. Millennials respect when someone takes their comments seriously, addresses them appropriately, and it’s best handled in a timely manner to ensure they feel you care about their needs.
Did someone say free stuff? Millennials are a magnet to free things. Since most of them are living on their own for the first time, their cash flow might be tight. Offering free t-shirts, stickers and any other collateral with your home building brand, you now have created a walking ad and a happy consumer as well.
Like many of us, millennials like to be at the center of the action. They like to go to trendy places to meet socialites and friends. If your business hosts an event in a trend-setting location such as a new venue, restaurant or bar, your participants will be an influx of forward-thinking millennials.
Some ideas of the types of events home builders can host are Fundraising Events, How to Courses for the interiors and exteriors of one’s home or a client appreciation event. The goal is to make it fun, educational, and it will be memorable.
The most popular places to live for millennials include new and upcoming areas that offer walkability and access to dining, shopping, and other similar amenities.
It is expected that millennials will overtake baby boomers as the largest adult population group in the United States sometime this year. Don’t limit your reach to only a niche location. Millennials are everywhere and all of them will need a place to call home.
A house is someone’s biggest investment most will ever make. It might be scary for first-time homebuyers to be sure they are making the right choice. When pitching your sales tactics to millennials, make it purposeful, and meaningful to enhance their experience. Show them that you understand their desires and concerns and they will trust your company.
Many millennials follow and trust influencers on their social media networks. In actuality, 92% of millennials feel that recommendations from influencers are more highly trusted than those coming straight from the brand itself. Take advantage of this information and include influencers in your marketing efforts and events.
Millennials want to be entertained and not bored with repetitive messaging over and over. You need to ask them questions, include a call to action statement and provide captivating imagery to attract the millennials and engage them into conversations rather than simply talking at them.
Millennials often feel compelled to rate their experience on review apps such as Yelp or Google, especially after a good or bad experience. Millennials who read positive reviews are more likely to turn into a client. Request their feedback to both engage them and promote your organization.
Did you know 37% of millennials are willing to pay a little more for a product or service if the organization or firm gives back to the community? Have your firm partner up with local projects such as the Boys and Girls Club or Metropolitan Ministries for a greater cause. By doing so you are not only making them feel better about their involvement, but you are also promoting your company within the community.
Creating and maintaining meaningful relationships with your clients is extremely rewarding. Some ways you can personalize the homebuying experience is to handwrite thank-you notes, include client’s names in emails, and ask for constructive feedback from the experience. Engagement and authenticity are priceless for you and your customers.
New research suggests 98% of young adults 18 to 24 have a smartphone. Another startling statistic is they and most won’t spend more than 30 seconds trying to find information on a website. Making your website mobile-friendly will increase the chances of attaining organic traffic visits in this competitive world.
These steps will help increase the chances of your business reaching and marketing to millennials. Before you know it, they will become the older generation and there will be new and improved marketing techniques for Generation Z.
About Terry Zelen
Creative Director | Consultant | Author | President of Zelen Communications
Terry Zelen is a seasoned Creative Director with more than 35 years of experience in Home Builder advertising and marketing.
He is the founder of The Punch List, which is an online blog to help inform home builders and developers on strategic marketing insights to fuel their firm.
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