Generation We, Millennials, the Net Generation, whatever you want to call them, are your biggest potential ROI asset. They are tech savvy, they grew up on it, they rely on it to perform their jobs better, they are armed with their smart phone and tablets and are researching you products and services before they buy. – Social Media Today

According to the World Bank, by 2015, 47% of the world’s population will be under 25. As the average age of Gen Y market is now 28 (ages 15 – 30, according to the CIA World Fact Book) they are coming to be known as the “loyalty generation.”

A recent study done by the Edelman group found a clear loyalty effect:

  • 86% of Millennials, once they find a company they like, keeping coming back.
  • Brand preference is the #1 personal identifier they are willing to share online.
  • They’re willing to share their personal information with the brands they trust.
  • 47%  write about their positive experience,  online, their happiness increasing with each person they tell their story to.

Activating The Gen Y Market

Here are 3 strategies to activate Gen Y:

1. Build Trust

In order to build trust with the Gen Y market, bear in mind that building trust leads to brand loyalty. To do so, you must:

  • Have quality products, in workmanship and features.
  • Be real, since authenticity is important to Generation Y.
  • Have a social purpose, as 1 in 3 say that they look for brands that have a positive impact on the world.
  • Have integrity, and your business should stand for something greater than just profits.

2. Build Identification 

  • Nearly 70% of Gen Y’ers recommend their favorite products to friends and family.

If Gen Y’ers identify with your brands purpose, they will help to market your business with online promotion, in-person word-of-mouth and online reviews because they will feel compelled to tell others about you. It is because they identify themselves through your brand that Millennials will tell others about your brand in their online social networks. They are, in effect, telling others about themselves.

3. Build Expectation

Millennials are known for having high expectations, and to expect the best. To activate this segment of the market and stand out in their minds, you must be prepared to go above what’s expected. If you are only able to meet expectations then there will be nothing about you that stands out that is talk-worthy. It’s important to give them an experience that is second to none.