Every brand has a target demographic that they focus on to bring in customers best-suited to their products/services and this is vital for continued success. Businesses may need to do more than this, though, and target new markets in order to grow the business and branch out and it is usually the younger generations that need to be targeted.
So, how can you go about doing this without alienating your target demographic?
Loyalty programs can be an effective way to attract younger generations to your business. Loyalty programs incentivise people to come back to your business and this allows you to build a connection, which is important for becoming a brand that younger generations return to and recommend to their network.
Loyalty programs are a smart way to increase customer lifetime value (CLV), fend off the competition and form lasting relationships so they can certainly be beneficial.
Modernise Your Business
It is the younger generations that possess a high amount of purchasing power, so businesses need to make sure that they know how to attract younger customers.
As you might expect, one of the most effective ways to do this is to modernise and keep up with the latest trends. Currently, this will involve using influencer marketing to reach a younger audience and to build your brand reputation and to make sure that you have a mobile-friendly website and smooth mobile experience (and possibly an app if it would have value).
Franchisees for Young Leadership
Interestingly, experts also believe that the use of franchisees can be useful for attracting younger generations to the brand. This is because a franchisee will bring fresh, new ideas to the company that all appeal to younger groups.
Older leaders may be out of touch and not know how to connect with younger groups, so a young(ish) franchisee could be a smart way to connect with these groups and keep a brand relevant (as well as bring long-term growth to the company).
Content & Customer Service
Other strategies to attract a younger generation to your brand include creating high-quality content that both positions your brand as modern and in-tune with the world and is of value to your target customer and ensuring that customer service is a priority.
Today’s younger generations expert it to be easy to contact a business without picking up the phone and they expect businesses to go the extra mile and offer a personalised experience.
It is important for businesses to have a target demographic, but they should also attempt to branch out specifically to make sure that they are also targeting younger generations that hold a lot of purchasing power and will be important for long-term success.
Hopefully, this post will give you a few ideas for ways to make your business more appealing to these groups.