News Flash – Millennials ARE ready to be homeowners! According to the National Association of Realtors 2018 Home Buyer and Seller Generational Trends report, Millennials currently make up almost 70% of first-time homebuyers. In fact, Millennials also make up the largest percentage of overall homebuyers, at 34%. So, we know Millennials are in the market for a home, but the real question is, how do we reach them from a marketing standpoint? These 3 tips can help you in your quest to engage the newest homebuying generation.
- Strengthen Your Digital/Social Media Presence
Facebook, Twitter, Instagram, LinkedIn…the list can go on and on. Millennials are the first generation to grow up using the internet on a daily basis. A strong social media presence is an ABSOLUTE NECESSITY if you hope to connect with Millennials. But, being present online isn’t enough. You need to both BE online and ENGAGE online. Posting content on your social media pages is a good start but it’s even better to respond to comments and start a discussion. It might be worth having a chat option on your website to answer any questions a prospective homebuyer might have about mortgages. Millennials rely on the internet for information, and they expect that information almost instantaneously. If your company is providing trustworthy and engaging content, when and where Millennials are looking for it, you already have a leg up on the competition.
- Enlist the Help of Your Moral Compass
Social issues are at the forefront of the world we live in. From climate change to human rights, Millennials have grown up with a sense of moral responsibility. In fact, according to a 2015 study by Cone Communications, 9 of 10 Millennials would switch their brand preference to one associated with a cause they believe in. If you really want to engage Millennials, get involved in the local community. Try setting up volunteer days at food banks or donations to holiday food/toy drives. Giving back to the community where you do business not only feels good from a moral stand point, but it can also show that you care about the community as a whole. As an added bonus, you can use your newfound digital presence to make more people aware of the cause you are engaging in, and in turn make them more aware of your brand as well.
- Honesty, Honesty, Honesty
Part of growing up with the internet is knowing how to use it effectively. More than anything, Millennials expect 100% honesty. If you are going to engage in social causes, then you must believe in them. If you post customer reviews on your website, make sure they are 100% authentic. Millennials are accustomed to using the internet to find and verify information from multiple sources. If you are dishonest about something concerning your business, chances are Millennials will not only find out, but may also view your company as an untrustworthy source of information. Without trust, reaching the Millennial market is nothing more than a pipe dream.
In short, Millennials are a complex generation that have posed difficulties with marketers in the past. Thankfully, we have compiled enough information about Millennials to begin reaching them on common ground. Use these 3 tips to help you to engage and flourish with the newest homebuying generation!