Updated August 2015
Pinterest Expert Shares How to Market to Millennials on Pinterest (Research)
Is your target audience between the ages of 18 to 33? Millennials were raised on tech gadgets and they rule the internet. They also comprise the fastest-growing consumer segment in America. Did you also know that they make up the majority of Pinterest users and they have a lot of money to spend!
Millennial shoppers trust social media more than other generations. I’ll be sharing several research findings with you and then show you ways to get them interested in your business or brand.
A recent report from the Shullman Research Center found:
- 23% (roughly five million) of millionaires are actually Millennials; more than the total of Generation X millionaires, which stands at about four million, and about half that of Baby Boomers, a generation that had a 30-year head start.
- 49% of Millennials plan to pursue a wealthy lifestyle, compared to 6% of Generation Xers and 14% of Boomers – a staggering difference.
- 82% plan to spend on luxury items over the next year, once again blowing the two previous generations out of the water at 58% and 32%, respectively.
According to Center for Marketing Research University of Massachusetts Dartmouth here’s what they found about the Millennials:
- By 2015, they’ll have $2.45 trillion of purchasing power worldwide.
- Millennials are not influenced by traditional ‘push’ marketing strategies.
- Born and raised in the age of technology, Millennials consume information when and how they want to.
- Companies giving exclusive offers or appealing to their interests were more likely to see an increase in sales as a result of online interaction.
- Pinterest has the highest sales conversion rate. When it comes to social mediated purchasing, Pinterest resonates with Millennials. 47% of respondents with Pinterest accounts said they had purchased something online after pinning it.
6. Of those respondents who answered ‘yes’ to purchasing only through a social media site, Pinterest ranks highest among social media platforms studied in lead conversion. The ease of purchasing, along with its new tools like “Rich Pins” for automatic updates and price drop notification on pinned items, makes Pinterest an attractive online buying site.
7. Purchases by category: Millennials clearly prefer to buy things in the category of “Hair, Beauty and Apparel”.
Pinterest Marketing Expert Actionable tip: Create boards based on these above categories.
8. When asking Pinterest users why they pin something from a company/brand, supporting the brand remains the top reason.
9. The average order value on Pinterest led all social referrers.
According to SDL “Understanding Millennials” Survey 62% seek discounts on social media while 16% don’t connect with businesses on social media.
Pinterest Marketing Expert Actionable Tip: Create special offers that provide value to them.
10. US millennials are the most racially diverse generation according to Pew Social Trends. What that means to you is the content you create and curate for Pinterest should reflect Hispanics, Blacks, Asians, and so forth.
IDG Research Group asked millennials what topics interest them most online or in print:
- 62% Food & cooking
- 69% Travel
- 69% crave adventure
- 79% would like to travel abroad
- 54% Health & fitness
- 46% Celebrities & entertainment
According to Market Strategies International Millennials are five times more likely to have posted a link to a product or service on Pinterest.
11. How To Market To Millennials according to Barkley Research:
- 70% of millennials agree that getting their friends’ approval on decisions is important.
- 68% of millennials don’t make a decision without asking others.
- 56% of millennials will change brands for a cents-off coupon.
- 63% of millennials will purchase a non-favorite brand on sale
- 50% of millennials will go out of their way for a frequent shopper rewards.
- 35% of millennials will sacrifice their beliefs for a good deal.
- 61% of millennials rate products online.
- 42% of millennials watch TV on their computer; 38% watch less than 10 hours a week of television.
Almost 50% of Millennials would be more willing to make a purchase from a business if their purchase supports a cause.
As the largest generation the country has ever seen continues to grow up and acquire more wealth, brands on Pinterest are going to have to start adjusting their message to better reflect Millennial values. Here’s a summary from Post Planner of young influencers revealing their secrets on ways to market to Millennials:
- Be uncomfortably open and honest. Millennials as well as other consumers today are incredibly good at identifying lies and external motives.
- Meaningful content – be short and catch the viewer’s interest.
- To be more socially conscious to the desire to have a more customized interaction with each brand. They care about factors such as the environment, poverty, or children.
- The importance of connection and dialogue should be embraced. Don’t speak at us, converse with us.
- Millennials also want to be heard. The more they feel like they’re being listened to, the more they’ll care. They want to be a part of something bigger than themselves.
- Companies have to be “cool” and talk about how their product will help a Millennial be better or different. They need to focus on what is unique about their brand because Millennials do not want to be the same as everyone else.
- They share information because it contributes to how they want to help people.
- The more businesses can make their brand experience feel personalized to each user, the more brands will succeed in ensuring their message spreads from the mouth pieces they are targeting.
- Be innovative, funny, and original.
- Engagements should instead be about building interest with Millennials who can then research your product further.
- Businesses need to understand that Millennials don’t trust review sites or “expert opinions”; work with influencers through brand advocacy.
- Millennials are on the go, juggling many balls at once, therefore in order to catch our attention businesses should focus on how their product fits into their daily lives as well as being functional.
Over to you
What Pinterest strategies have you used to attract more Millennials?
If this is overwhelming for you and you feel like you are going around and around with Pinterest and not getting anywhere please contact me contact me about my Pinterest management services or to learn more about my Pinterest Marketing Course for Business.