Marketing to the Millennial Mindset
Who are Millennials, and why should they matter to your real estate business?
According to April 2016 data from Pew Research Center & US Census Bureau, the millennial generation can be defined demographically as individuals between the ages of 18 and 34. This US population group, has approximately 75 million individuals, making it larger than the Baby Boomer generation.
As a 2009 graduate of James Madison University, new REALTOR, and lifelong resident of Hampton Roads, I’d like to share a few ideas and give perspective on my peer group. The goal for this article is to educate and engage your marketing efforts to reach more Millennials.
There are three topics to consider while reading:
- Quality content in real time
- Personalize your narrative
- Embracing technology to reach new clients
Quality Content in Real Time
It’s no question that we are hit with a constant stream of media, marketing, and advertising in our daily lives. Let’s break it down… Think about the number of emails you get on a daily basis – credit card offers, shopping coupons, client / office messages, and the very popular family newsletter. While there is useful information in each of these instances, there is no doubt a lot of clutter. So, how do you break through?
Keep it simple.
When crafting content for Millennials, a good idea would be to make home buying as easy as possible. Most of the Millennial age group has never purchased real estate before, so education is one of the most valuable tools you can provide as an experienced REALTOR. The method of communicating is equally as important to consider. How will your audience consume content?
- Read an email during a ride on the Tide / Hampton Roads Transit?
- Like a Facebook post while walking down Granby Street?
- Scroll through Twitter waiting for a lunch meeting at Town Center?
A few examples of marketing tactics:
Create info-graphics with common real estate terms
Build flow charts on real estate processes
Utilize short video clips (30-60 seconds)
Try not to automate links across multiple social media platforms, post original updates, in real time.
Avoid complicated open house flyers, social media posts, email newsletters, and your own “25 second happy hour pitch” -- tell people what they need to know without any fluff.
As the saying goes, don’t use two words, when one will do.
Personalize Your Narrative
As mentioned before, there are 75 million Millennials living in the United States. There is also no shortage of real estate agents and REALTORS® in Hampton Roads, so think of ways to personalize your narrative to differentiate yourself to reach new clients. The open houses of past decades have been replaced with the craft brewery, and local wineries of today. Have you rehearsed your “25 second” happy hour pitch? In the time it takes someone to pick up their beverage, take a sip, put it down, you can make or break a new business relationship.
As we know “business never takes a vacation” so it is a necessity to have your pitch ready at a moments notice. You never know where a lead will originate. In fact, I can recall a recent lead that arose simply from having a beer with some friends during happy hour.
Think about how you’d like people to remember your brand – and yes, if you have a name – you’ve got a brand.
The only question that remains – how is your REALTOR® story being told?
Embrace Emerging Technology
It seems like every month a new tech startup launches the latest and greatest widget or tool, which will transform business. Prior to becoming a REALTOR earlier this year, I spent the past 7 years in technology, marketing and advertising. The experience led me to the conclusion that it would not be a wise investment of time and energy to adopt each new technology. However a winning strategy would be to pick 3-4 and dominate those platforms.
Become the subject matter expert in your local sphere. Whether…
- Live tweeting a conference or concert
- Adding new Facebook friends you met at happy hour
- Snapping an interesting real estate scene for Instagram
- Blogging about your favorite local restaurant
- Writing an online review about a landscaping service
Technology will never replace the cold calls, hard work and dedication to the trade that may result in a productive real estate career. However, by embracing emerging technology, our REALTOR® profession may become just a little bit easier.
Business never takes a vacation, and your real estate sphere is always open, you just have to knock from time to time.
This article was original published in the July 2016 edition of the Hampton Roads REALTORS Association magazine. View the digital version.