3 Ways You Can Understand The Millennial Customer Base

ba-blog-1

Your customers grow demanding with every new generation.

As the millennial generation accumulates more cash of its own, they’ll begin searching for products that align with their core values – and if you can’t cater to them, your business will sink faster than a pair of cement shoes.

But what exactly is the millennial generation?

Coming after the baby boomers and generation X, millennials were born in the late 80s and early 90s, and have generally entered the workforce within the past decade.

Their attitudes towards society have been shaped by ideas of fairness and ethics, and they expect the same ideology from the products they purchase.

More than this, millennials are regularly referred to as the ‘lost generation’ because of their difficulty in getting a mortgage and their lack of traditional commitment to one job.

Because of this, millennials have less cash than previous generations, but are more willing to spend premium prices on ethical produce.

All of this probably seems a little mind-bending if you’re new to the concept of customer demographics. But mining deeply into the psyche of consumers allows you to tailor your products directly to their needs.

To help you understand customer demographics in more depth, we recommend you try a few of the knowledge building tips below.

Take a survey

Want to know exactly what your customers are thinking, and which demographic they fall into? Then why not send them a survey which quizzes them on their buying habits.

If you already have an email list of your customers, you can create a free survey via Survey Monkey. If not, simply create some paper copies of a questionnaire and hand them to customers whenever you’re face to face.

Get learning

Education is the most effective tool in the battle to understand your customers – and distance learning could be the ideal way to balance your work and educational responsibilities.

Great distance learning providers like Anglia will provide you with effective Marketing degrees that will allow you to understand your customers all the more.

These courses are designed to ensure you obtain a degree in a timeframe that suits you, and are run by professionals of the industry.

You’ll learn more about customer demographics while you study for a Marketing degree than anywhere else, so it comes highly recommended from us.

Get networking

A simple networking session with likeminded business owners can teach you a lot about customer dynamics. A seasoned boss will discuss their failings and successes in equal measure, giving you ample opportunity to take their teachings on board.

With your newfound knowledge of customers, you’ll be able to cater for millennials without scratching your head.

There’s our list that could help you understand millennials a little more. Can you think of anymore? Then let us know in the comments below!

Related Posts

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Friday, 16 November 2018
If you'd like to register, please fill in the username, password and name fields.

Member Login

Business Insights & Tips

Leaderboard

1
Michael Lane
786 Points
2
Jill Holtz
784 Points
3
Ron Immink
732 Points
4
Fionan Murray
696 Points
5
ContentLive
276 Points
View Leaderboard