Marketing to Millennials is very different from marketing to Gen X or Baby Boomers. They’re very savvy, they’re very good at ignoring traditional advertising, and their buying habits are extremely different from the generations before them. So if you’re working in mortgage marketing and wondering how to get Millennials to buy, here are a few tips.
1. Focus on digital marketing.
Millennials have an extremely strong online presence. They want to see the businesses they buy from on social media. They want to be able to ask questions and interact with brands online. They don’t want to call and talk to someone. Instead, they want to be able to tweet or message a business and get a quick response online.
This means you need to put more effort into your digital marketing when you’re targeting Millennials than with any other generation. Dedicate a budget towards your social media ads and ensure you’re monitoring all social channels.
2. Share your company’s mission statement.
Millennials like feeling good about the companies they’re working with. If you have a strong mission statement or story behind your business, they’re going to want to work with you. If you support a charity or have a cause behind your brand, it appeals to the Millennials’ ethical side.
3. Personalize your messaging.
Millennials need to feel like you’re speaking directly to them when they see your ad messaging. They’re used to personalized mail and email, messenger bots, insanely accurate targeting, and web pixels being able to show them the correct messaging at exactly the right time. This means you need to be using similar tools in order to make your target audience feel like you’re speaking their language and understanding their specific problems before they buy.
4. Be educational.
A lot of Millennials are wary of home buying because they’ve grown up in a difficult economy. It’s your job to educate them to the benefits of owning their own home and teach them exactly why they should be looking to buy.
Mortgage marketing to Millennials will differ from your traditional marketing, but it’s important to understand exactly what they want to see from your business before they will work with you.
Great tips! The one thing we’ve learned through our research on Millennials is that when communicating with them, whether that be via social media, digital marketing, etc., it’s important to share content that is relevant to the years leading up to buying their first home. As you stated, they are looking to be educated. Provide content on the “whys” and “hows” of homeownership. Help them to set their plan to become home buyer ready.
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