How to target millennial clients

Memes and myths about millennials’ financial troubles should not discourage accountants from targeting the generation who are now in their late twenties and early thirties and who are soon to be the highest earning generational group. 

Born before Generation Z and after Generation X, millennials are also known as Generation Y and came of age with the turn of the century. They are now at the age where they need accounting services most.   

Understanding what motivates this generation is imperative to winning their business as this age group makes decisions based on their core values.  

Speak to the heart of millennials and win them over as your loyal clients. 

  1. Be where they are – online.   
     62% of millennials use the internet as the main point of information to make their decisions when it comes to goods and services. Make sure all information about your services are available online and market on social media platforms to reach millennial clients. 
  1. Be who they are – diverse.  

72% of millennials believe that diversity and inclusion are highly relevant issues that businesses should include in their communication. Ensure your accounting practice employs a diverse array of individuals and that your staff are representative of all races, genders and abilities. Sign your e-mails off with your preferred pronoun to create a safe space for millennials with pronouns that are not cis-gender. 

  1. Care for the earth like they do – use online documents.  

6 out of 10 millennials are willing to pay a higher price for organic and sustainable products. Don’t use hard documents or expect millennials to sign them, use an online signing system and online forms. Having an office in an environmentally friendly ‘green building’ with alternative energy will take you far, as will having zero-waste policies like recycling bins in your office and again – no printing hard documents.  

  1. Be local, think global.   

Millennials feel part of both the local and the global community, and easily move from one to the other. Providing accounting services to millennials means understanding that many earn their income abroad and receive foreign payments via channels like PayPal and/or make foreign payments, purchases, and investments. 

  1. Use minimal information to grab their attention.  

The biggest challenge to becoming an adult in the early 21st century is the overload of information they are bombarded with online and the attention economy it has created. If you can save millennials time by conveying information in short, succinct ways and include a turnaround time for completing services for them, you may become their go-to accounting service provider. 

Source: 

Market research by Tiendeo, a platform that collects digital offers and promotions from retailers.