Millennials are a popular topic, it’s nearly impossible to scroll through a newsfeed on Facebook or LinkedIn Pulse without seeing a dozen articles discussing them. But when you break it down statistically, it makes sense that they’re the talk of the town. Representing one fourth of the American population, Millennials have roughly $200 billion in annual purchasing power (Forbes, 2015). That’s a lot of power in and of itself, but they also have a huge influence on what older generations will buy, too. Think teenage daughters telling moms that their 80’s aerobics outfit isn’t “hip” anymore or a college freshman helping grandpa buy an iPhone so they can FaceTime. Millennials have a lot of power in the world of commerce and as the buying power of earlier generations fade, our marketing strategies need to adjust in order to target millennials proportionately.
So what’s different about marketing to Millennials from marketing to the previous generations? Mainly, technology. Millennials have grown up with today’s technology and are more attached to it than any generation before them. So how do interactive tours and animations cater to this shift? Like this:
1. Immediacy
With the internet, cell phones and tablets, practically everything in life can be done with near immediacy. Movies can be streamed in minutes, books can be downloaded and read without leaving the couch, and friends across the globe can communicate in seconds. Life is moving at a much quicker rate, and people are becoming less tolerant of anything that involves waiting. Millennials won’t even wait more than 5 seconds for a webpage to load (HubSpot, 2015). What will make them wait hours, days, or even weeks just to see what a product or property looks like? Almost nothing. This is why engaging virtual content crucial to marketing and sales in today’s society. With virtual marketing materials, like photo-realistic animations or 360 degree interactive tours, impatient buyers can see what your product really looks like within seconds of finding out it exists (or that it’s going to exist).
2. Authenticity
When we think of Marketing, our first thought doesn’t typically jump to the likes of Kim Kardashian. But the Kardashian family represents another shift in marketing to millennials. Traditional marketing, like a TV commercial showing a man quenching his thirst with a crisp, refreshing Coca-Cola, isn’t as effective with the Millennial generation. They care more about authentic, honest, and engaging marketing. That’s why celebrity endorsements are so important. It makes them feel connected and involved in the product. Don’t worry, though, authentic marketing doesn’t require celebrity endorsements like the Kardashians. It simply requires that you post honest and engaging information about your products. Photo-realistic visual content, like interactive tours and animations, is engaging and authentic in a way that fancy, eloquent wording isn’t. It gives consumers the opportunity to connect with your product or property as if it were right in front of them. That breaks down a huge barrier between you and your Millennial consumers.
3. Differentiation
This shift in buyer personas reaches further than the products you find on the shelf. It spans across all industries. In the past, the largest group of homebuyers consisted of those between the ages of 25 and 34 (Bloomberg, 2015). This year, the oldest Millennials (born between 1982 and 2004) will be turning 34, meaning the largest share of homebuyers will fall entirely under the Millennial umbrella. Millennials are actually expected to buy 1 of 3 houses sold in 2016 (Bloomberg, 2015). Yet the real estate industry is lagging when it comes to using interactive technology to sell homes. This industry-wide lag may sound bad for you if you’re a real estate company, but it’s really an opportunity to sweep in and differentiate yourself with engaging technology before your competitors catch on. Using animations and interactive tours to show your houses is not only an engaging source of marketing but also a resource for differentiating your company.
Progress requires adaptability. We live in an ever-changing world and our marketing tactics need to change hand-in-hand with the needs and habits of our consumers. Technology has today’s consumers wrapped around its digital finger and the best way to ensure we capture their attention is to plug digital immediacy, authenticity, and differentiation into our sales and marketing strategies. Lucky for you, we’re pro’s at creating marketing materials that do just that!
Want to include engaging virtual content in your marketing strategy? Contact us here to learn more or upload your project files here receive a quote. Feel free to also check out our Gallery and find out more about our 360 Degree Interactive Tours and Animations.