Watch Millennials Queue Up To Buy Your Franchise
Today hardly anyone on the internet would not know what a millennial is or rather who a millennial is. They are the population group who turned adults in the new millennium. Anyone born in or after the year 1982 up till the year 1996 constitutes this group. India is one of the m ost populous countries in the world and millennials form about 47% of the workforce of India, which takes their number in our country to a staggering 400 million, which to give you some perspective is higher than the population of the United States of America. Therefore, keeping their preferences and defining traits in mind while designing a marketing campaign would be essential. Ambition and imagination rather accurately define this young generation. This means that with the undertaking of effective marketing steps, this generation can be a highly successful demographic segment to venture into franchising. The marketing campaign for them would have to be customised according to their preferences and habits and characteristics. Let’s learn a bit more about these. Millennials are the generation that has grown up with the internet. There is no working generation on whom the impact of internet can be seen more evidently. They make all their decisions with the help of the www.frantastic.in
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internet, from personal everyday investments of their money and time, like choosing clothes, electronics and restaurants to financial investments and even long term investments like their career choices. They absorb all kinds of information like critiques, articles, blogs, social media posts, news and all happenings in the world around them and even the parts of world not so close. Exploring this relationship that they share with the internet, we can use it to directly reach them and illuminate them with the benefits of opting for a franchise. Most of the steps to be incorporated in your marketing campaign would be carried on the internet. Below are listed some key points to consider while marketing for millennials. Data Analysis: Most millennials are addicted to their phones and spend over 17 hours a week on an average on their phones. This provides us with ample data, which can be used to target the most suited customers. Using data analysis, you can learn about their preferences, career, history, income and interests among other things and with this information you can narrow your target audience to those who suit your criteria better and start with advertising for them. Some data might be freely available and more can be bought at a price. Social Media Marketing: A large chunk of the time spent online by millennials is devoted to social media. Other than being cheaper and more convenient than other marketing media, social media marketing is also more direct and personal and makes the customer more accessible. Social media also helps in visualising your content. As mentioned earlier, social media marketing can be made very effective with the help of data analysis. All creative and content posts can be shared via social media accounts and can be advertised too. Brand Recognition: Due to their high levels of exposure to information, today’s generation is aware and familiar with varied brands and using the brand to gain an edge to sell a franchise opportunity should be one of the first things to be done. Positive impact of the brand and customer stories by customers who directly engage with the brand should be shared. Marketing content should clearly highlight the brand value and convey its success story and
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mention its pre-existing customer base. Content Driven Marketing: This is probably one of the game changers in marketing, which can actually increase your sales. Since we already do understand so much about millennials, it’d be wise to use it to your advantage and create content for them, which would attract them and increase your sales. So, read carefully on how to customise your content for them. Here are some examples, which can be used conceptually to create content, which appeals to this generation.
Highlighting the journey that their career could take and their possible future if they opt for the franchise opportunity by showcasing the best life that the business could take them to. Millennials value their freedom and enchanting them with the idea of running their own business is a great way of getting their attention. Sharing testimonials by other successful franchisees would give them an understanding of what lies ahead and also proof of success in the business. The safety of running a branch of an established business is an eternal positive, which enables all franchisees in making the decision to opt for franchises. This is another strong point which can be used directly or indirectly in your marketing content.
Even while using the above examples, it is essential to visualise your content. The attention span of people today has reduced due to infinite bombarding of content and if your content is not visually engaging then chances of them spending time to absorb it, reduces. Focus on Morality: Millennials are no longer merely satisfied by earning high-figure incomes and running businesses. They are also aware of their responsibilities to the country and the world as citizens of both. You need to share with them all, if any, of the environmental, social or economical steps that you take, which benefit our community or the planet as a whole. It could be small things like not using plastic, to using only recycled paper and paper products, to employing or sourcing locally in order to increase local employment or you could even mention any
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donation or charity work undertaken by your organisation. Provide Opportunity for Loans: Marketing campaigns often include tie-ups done with other organisations, which at times dramatically help in increasing sales. Any such tie-ups done with banking or financial institutions for considering franchisees for a loan for the investment would greatly help the cause. Millennials are more likely to take loans for investments than their older counterparts and such a move could encourage them to venture into franchising. Influencers: Other than direct advertising, social media also creates an opportunity to advertise indirectly through influencers, who command a large number of followers and help in reaching out to niche audiences even within millennial groups. For example, a franchise opportunity for a fashion brand could be reached out to a considerable number of fashion enthusiasts by a single post of an influencer. Bloggers can also be grouped with influencers and can be used to advertise through their posts. They too have loyal followers, who read their blogs regularly and can turn to potential customers. Millennials are the present and the future and understanding them and creating our strategies based around them is the most sensible thing to do. Apart from everything that you have learnt today, do not forget to use your imagination to reach out to the ever-imaginative group of millennials. If you follow all these steps, there is no way you wouldn’t succeed in making some heads turn and take notice of your brand and very soon you will have them wanting more.
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