Smart tips to attract millennial customers

Wells Fargo Merchant Services

The millennial generation (born between 1980–2000) is now the largest age group in the US, making up almost one quarter of the population. Millennials are expected to spend $200 billion yearly, and $10 trillion of their lifetimes.1 To grow your business, it’s important to know how your practice can appeal to millennials.

Millennials, also called Gen Y, have grown up with the internet, their devices, and social media. Most millennials own and use two or three different devices daily and check email and messages approximately 43 times a day, usually on smartphones.2 Before making purchasing decisions, millennials often research and compare products, services, and prices online, consult reviews, and seek advice from friends and trusted social media.

Here are some tips to help you use technology to connect with millennials:

  • Upgrade to the latest point of sale technology (such as Clover), so you can accept smartphone payments like Wells Fargo Wallet™, Android Pay™3, Apple Pay®3, and Samsung Pay3. Invest in technology to make mobile and online shopping easy. Set up services like Visa Checkout so customers can pay without having to type in account information. Make it easy for them to browse, compare, purchase, and even set up recurring purchases using their favorite devices.
  • Offer WiFi in your practice, so they can easily stay connected to make decisions and ask friends’ opinions. Display decals from Facebook, Pinterest, Instagram, or Yelp if your products are noted on these websites.
  • Build a relationship. Maintain an engaging social media presence where they can learn about your products and services, make comments, and send links to friends. Provide straightforward, useful information and education about your products. Millennials prefer to shop with responsible companies that support local communities and causes they care about.
  • Stay in touch—but keep it meaningful, and don’t contact them too frequently with repetitive emails or texts. Millennials appreciate value and sincerity, dislike spam, and often don’t rely on traditional media advertising.
  • Earn their loyalty. Millennials value helpful customer service, not a hard sell. They often look for loyalty programs with rewards, discounts, and free shipping. They want better, faster service online and in stores, and it should be a “fun” experience. They want to feel your service is personalized or customized for them. And they want to be able to give you feedback on your products. They also expect you to respond to feedback, to know you valued their comments.

We are here to help you!

If you are a current merchant customer of Wells Fargo Merchant Services, please contact the dedicated AAHA account manager at 925-765-7093.

If you’re not a Wells Fargo Merchant Services customer yet, call 1-866-319-9466 or email at [email protected].

1Elite Daily Millennial Consumer Study 2015 and Forbes Magazine

2Harvard Business Review, November 2015

3Android Pay is a trademark of Google, Inc. Apple Pay is a registered trademark of Apple, Inc.

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