Cater Your Products To Individuals.
Part of what’s made Selina such a hit is its due diligence in conducting market research. Museri says, “We traveled to 140 different hostels around the world and asked travelers to share their experiences with us. We collected data about travelers, their interests, and the changes they wanted to see. It’s all about data, all about market research, all about trends. We always prefer to spend more on the market research side and feel confident in our vision.”
In order to strike a chord with millennials, you’ve got to talk to them. Narrow your target market down to a very specific niche and develop services that are uniquely tailored to their needs.
Create A Community.
Millennials value relationships and experiences. They wanted to feel bonded with others who share similar values as them. Your company is more than just your product or service, it’s why you do what you do. What are your core values? What do your customers have in common?
Consider creating a mission statement that reflects your values. Express these values in your community, either in your digital content or at in-person gatherings. Your values will act as cohesive glue for your community and generate loyalty.
Museri says, “I think one of the main reasons communities are exist are they make people feel more comfortable; they let people know there are others who share the same values as them. I traveled the world via bicycle across India, Europe, and South America seeing and experiencing different types of communities. It made me very interested in understanding how the world was connected.”
This article originally appeared on Forbes.com