Did you know that millennials make up nearly 35% of the U.S. adult population today? Rather than starting families, millennials are opting to adopt pets to satisfy their care taking needs. Millennial buying power is a key trend that pet care providers cannot ignore. So how can personalized digital marketing help your pet care business grow?
According to a study done by Wakefield Research, millennials are more particular about their purchases of goods and services and want the world to know about it via social media sharing. Similarly, millennials are more conscientious when evaluating products and services. Brand, reviews, service quality and references are commonly echoed in the world of millennials when it comes to making purchases of any kind. This generation is also not too price sensitive as they tend to focus on the quality products and services first and foremost. Wakefield also included the fact that 90 percent of this generation is on social media networks; they share a photo of their pet three times a week on average, and 17 percent even have separate social media accounts for their pets.
To dive in a little deeper, what are the characteristics of this demographic?
When it comes to deciding what products and services to but, millennials tend to collect information from various sources. Gather the research often happens through the use of social media. Likewise, when it comes to making a purchasing decision, millennials look to online sources such as reviews, videos and ratings.
How does this affect you, the service providers?
For starters, millennials will turn to companies that provide customized but personalized services tailored to them and their pets’ needs. They largely depend on smart phones and mobile applications to complete tasks such as making reservations, purchasing food and scheduling appointments. As for accessibility, mobile is by far the most targeted approach to connecting with this demographic. Why? They look for features such as:
- Loyalty Programs – Millennials unlike other demographics want to be acknowledged for their patronage. Loyalty programs or rewarding for loyalty pays dividends.
- Access to Reviews, Approval Ratings and Customer Feedback largely drives decision making.
- Discounts and Promotions
- Online Reservation and Appointment Scheduling
- Easy payment features
We live in a technology enabled world today and accessibility provides a level of transparency and simplicity that busy millennials seek. Many pet care providers are missing a large opportunity to cater to this demographic that in recent years has slowly overtaken baby boomers as the largest in the pet industry. So that means in order to cater to this demographic, pet care providers will have to put a high emphasis on providing personalized marketing services and seeking out technology solutions that suits their purchasing habits.
So, when thinking about how to build you pet care business for the future, don’t forget about the largest group of dedicated pet owners taking the pet industry by storm. As technology continues to evolve, so will the needs and demands of this demographic. Start garnering your attention to how you can market to millennials’ specific needs as it will truly help you not only differentiate your business but profit largely from catering to their needs.