Businesses of all shapes and sizes should always try to stay on top of the current trends. However, this is particularly true about businesses from the so-called creative industries. These should really make an extra effort to follow all the trends of the leading consumer force.
As we know by now, Millennials currently make the largest consumer base on the market. So, any industries that want to stay relevant should try to cater to this group’s needs. That said, let’s see what are some of these trends and how industries should adapt.
The rise of the influencer marketing
Millennials are already famous for doing things differently. That’s why it comes as no surprise that traditional forms of marketing don’t quite work on them. Instead, they’re more focused towards influencer marketing. YouTubers and bloggers have become the leading source of information for the Millennial crowd. That’s why any business that wants to get their message across and attract this crowd should start looking for influencers. But, it’s also important to mention that not just any influencer will do. While a larger following may certainly seem more attractive, micro-influencers are actually where it’s at.
Increased demand for VR implementation
Furthermore, Millennials are aware of – and partially responsible for – the growth of VR implementation. Since they understand and see the appeal of this modern technology, they’re increasingly looking for it in almost every industry. That’s why modern industries – especially those that operate in entertainment – should try to implement VR wherever possible. VR headsets have already become a norm. Now it’s time for other industries to see how they can use this to their advantage as well. It’s true that not every business can afford to implement VR in their endeavor currently. However, it is certainly something they should be focusing on in the near future.
The growing popularity of the gaming industry
The gaming industry as a whole has been on the rise as Millennials started dominating the consumer market. The increased need for innovative and fresh content started changing the world of the gaming industry. Nowadays, no matter the type of games, we can see some impressive innovations in how they’re being created. RPG games’ plotlines are becoming more elaborate and the open-world concept is being implemented more and more. Some of the most popular slot games are becoming more engaging and dynamic. Aside from that, the need for mobile and on-the-go games is greater than ever.
Live stream revolution
Live streaming is also another trend Millennials seem to be enjoying quite a lot. With things like Facebook and Instagram Live, Periscope and similar apps, the need to fully be in the moment rose significantly. Nowadays, anyone can broadcast live video and audio to anyone who is willing to listen or watch. This option is particularly popular with influencers as it seems that their followers enjoy feeling like they’re being involved. The popularity of live streaming will only continue to grow. Businesses can use this to their advantage to increase their transparency. So, business owners should encourage their employees to take as many lives as possible. Not only will this boost transparency but it will also bring greater exposure.
The increased popularity of wearable technology
Millennials are a curious crowd. As much as they enjoy learning more about the world around them, they also enjoy learning more about themselves. That’s why wearable technology became so popular. The idea of being able to monitor your health and fitness progress with a wristwatch is quite appealing. Not only that, but the majority of modern wearables also offer some other amazing options. Send messages, browse social media and play your favorite tunes with your new wearable piece of tech. Therefore, businesses that like to think ahead should start looking for ways they can make wearable-friendly apps for their brand.
Willingness to collaborate
Millennials are a bit specific in the sense that most of them like to contribute to promoting their favorite brand(s). That’s why you can nowadays find so many unboxing videos and Instagram or Twitter mentions. Since the majority of Millennials almost live entirely online, this comes as no surprise. Brands can use this to their advantage and encourage their current customers to promote their brand. To return the favor, they can send most loyal customers free products or gift cards. This way, those customers will only be more willing to promote the brand, bringing it even greater exposure.
It’s obvious that businesses who choose to follow Millennial trends stand to gain a lot from them. Aside from an entirely fresh perspective, they can easily gain greater exposure and customer loyalty. The only thing they need to do is listen and be willing to adapt their offer to suit the current market needs. Otherwise, they can lose a lot if they fail to cater to this very specific group of young individuals.