Millennials aren’t just a cohort that big brands are racing to win over. Small business owners are in the same race.
I spoke with a couple of bloggers for Forbes.com about what small business owners need to keep in mind about Millennial consumers.
“The traditional equation for brand value was emotional benefits plus functional benefits divided by price,” says Jeff Fromm, founder of theShare.Like.Buy Millennial marketing conference and author of Marketing to Millennials: Reach the Largest and Most Influential Generation of Consumers Ever. “That equation does not hold true for millennials. The new equation is emotional benefits plus functional benefits plus participative benefits divided by price. And if you don’t have that participative benefit, you can’t win.”
I also spoke about how Millennials want to co-create cusomter service, products and more. They want to be involved in the brand. You can win a Millennial over by showing that you’re listening and by allowing Millennials to feel like they have a personal investment in your product.
Read the full article on Forbes.com: Marketing To Millennials: You Have To Do It Their Way