“We lost the genetic lottery. We graduated high school into terrorist attacks and wars. We graduated college into a recession and mounds of debt … We will have the courage to pursue our dreams because we have absolutely nothing to lose.” – Maggie Young, author of Just Another Number (2015, Bad Reputation Publications)
Those are the thoughts of a Millennial, one who is part of what is likely a home improvement business’ fastest growing market. To claim the official title of “Millennial,” one must have been born between 1980 and 2000, which would make them, as of this posting, between the ages of 16 and 36. (Those who were born on the cusps are called cuspidors.)
We are Millennials – Hear us roar!
The Publicity About Millennials
The internet is replete with blogs and commentaries about Millennials. The biggest hype about them is that they are in love with the Collaborative Economy. However, a friend of Keyword Connects who has researched and written hundreds of articles about the Collaborative Economy does not believe that a direct link exists between the two other than the fact that they are contemporaries. Proponents of the Sharing Economy continually posit that Millennials would prefer to share (rent) rather than buy. Those who have chosen that course do not define Millennials; they define Millennials with no net worth.
The Facts About Millennials
Lest we lose our way, this post is about Millennials and how they relate to your home improvement business, particularly with regard to lead generation.
Contrary to what some pundits say, Millennials see buying a home as part of the American Dream.
– Millennials As Home Buyers
A Better Homes and Gardens survey of Millennials found that they believe owning a home is part of the American Dream (79%). Forty-five percent said they are in the process of planning or doing a major home improvement or decorating project.
According to Visual Capitalist,Millennials:
- are the first digital generation
- are currently 25% of the U.S. population
- are projected to comprise 75% of the U.S. workforce by 2025
- are 68% of first-time home buyers
Seventy-five percent of Millennials would prefer to purchase a detached, single-family home. An additional 11% want to purchase a town-home. If a Millennial walks like a lead and quacks like a lead, they probably are a lead – and your home improvement business should understand how to market to them.
This is how I want you to see me.
– Millennials and Remodeling
Millennials have a significant interest in using sustainable products for home improvement projects. They can’t help it. They’ve been raised on being green, even though Kermit the Frog told them it wasn’t easy. The Better Homes & Gardens survey noted that Millennials, “prefer to purchase homes that need some updates versus buying a move-in ready place.” Millennials also:
- prefer to buy products that are in stock
- like to do business with local firms that have customer loyalty programs
- want to have smart technology installed in their homes
- are building or planning to add a home office space.
ONE FINAL FACT: 35% of Millennials strongly agree that “now is the right time to spend” on home improvements!
So, what are you waiting for? When it comes to lead generation for a demographic age group, attracting Millennials is like shooting fish in a barrel. Well, not exactly like that. Maybe just enough to make the analogy. Since analogy contains the word “analog,” let’s make one thing perfectly clear: It’s going to take top-notch, digital marketing to land Millennials as your customers.
You should learn how Keyword Connects works. Give us a call and we’ll be glad to give you a hand. Now let’s go get some Millennials.