waywardyouthcloud-blog

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Millennials: Target Locked

Millennials have been a notoriously hard demographic for businesses to capture. They seem to be unaffected by traditional marketing and don’t mind price checking in stores and leaving if they can get a better price from an online store based in the other side of the country. Customer loyalty has become almost non-existent and price sensitivity has become so great that the only way for companies to compete is by selling quantity. Millennials can even get jobs to help companies have a successful social media presence. It isn’t just a generational gap, it’s a result of the Internet radically transforming the economy and Millennials happen to be the first generation to grow up with it. To target Millennials we need to go where they are: Mobile. For the last few years messenger apps like Facebook Messenger, Whatsapp, WeChat and Line have surpassed social media services in monthly users. We have social media experts today, we’re going to have chat experts tomorrow. Firms need to be developing apps that meet user demand. You don’t want to miss out on revenue because you didn’t want to spend money to modernize your business plan. InstaFlix is a million dollar app that crops photos to post to Instagram. Instagram could have easily incorporated this feature into their service, but missed the opportunity and will now have to spend a lot more money if they want the feature to acquire the startup than they would have if they had developed the feature instead. Firms need CTO’s who are creative enough to see how their firm can fit into a customer’s mobile experience. To start, it will be helpful to take a look at How to Build a Million Dollar App and go from there. Custom software development companies can provide the talent needed to build your app if you don’t want to maintain your own development team in house. You should be making the minimum viable product (MVP) so you can pivot quickly if your app doesn’t have the features customers want and so you don’t waste money and time on useless features. All of the major messaging apps are offering ways for businesses to integrate into their services with chatbots or other programs. Papa John’s started offering pizza orders through Facebook in June with roaring success and digital sales now make up 60% of sales. Papa John’s has even gone so far as to say that they are an “ecommerce company,” not the brick and mortar store we are all familiar with.