Today we’re sharing some “do’s and don’ts” of marketing to millennials. In this installment, we’ll focus on the “do” part, sharing ideas to help you connect with millennial buyers.
Your business plan includes using content marketing to connect, educate, share and position yourself as a leading authority – right?
Sharing relevant content is a key part of any marketing plan. When you’re targeting millennials, they’re evaluating you by your perceived reputation, positioning and authority as a mortgage professional.
What do millennials want?
Millennials want to be knowledgeable. They want to be informed on specific topics and learn things to become smarter. (Source: Yahoo Study)
What are they looking for?
They’re looking for resources to help them transition to becoming responsible adults. They’re also looking for people, resources and books to help them get through a financial crisis. (Source: Yahoo Study)
Many millennials had a rough time of it during the latest recession and may be carrying a significant amount of student loans.
What could this mean for you and how can you use this to get noticed and build your authentic connection with millennials?
You can deliver on millennials thirst for information in the form of content that educates and engages them. Videos, blog posts, articles, infographics and audio forms of content are all ideal for consumption and social sharing.
Topics relevant to millennials can range from facts about minimum downpayment required for purchasing a home, buy vs. rent scenarios, navigating the home-buying process, refinancing student loan debt, financial management, market trends and more.
According to data from the NAR 2015 Homebuyer and Seller Generational Trends Report, over 80% of millennial homebuyers financed the bulk of the purchase price with a mortgage. (See report here.)
Of course finding the right property is the most difficult part of the home-buying process for 58% of millennials. However, understanding the process, paperwork and getting a mortgage all ranked as the next most difficult steps.
How many millennials are even aware that you can purchase a home for less than 20% down? Surprisingly few.
You could create a path to homeownership toolkit, walking them through the process of moving up from renter to higher status as a homeowner, making them feel smarter and more successful.
Create a short 3 video series or infographic taking them behind the scenes of “the life of a mortgage loan” from application to funding and their home financing options.
A key element to your content resonating with millennials is to tap into their desire for discovery, keeping it light and even entertaining at times.
What if you could inject education and fun into the home-buying process?
Next time, we’ll dive into some of the “don’ts” or biggest mistakes when marketing to and presenting yourself to millennials.
What do you think of today’s content? Reply with your thoughts or comments. I do read your replies.
Until our next installment.