Marketing To Entrepreneurial Millennials
Canada has a long and rich history of entrepreneurship. Canadians invented the telephone, Walkie Talkies, the pager and the 56k modem. Right now, our start-up ecosystem is buoyant and attracting global talent, investment and entrepreneurs. In fact, StartupBlink, a Swiss-based website, ranked Canada third as the best places on the planet for starting a new business.
When e-commerce platform Shopify partnered with Leger Marketing to dig into the entrepreneurial spirit in Canada, they discovered that more than two-thirds (68%) of Canadians wanted to be their own boss one day. As well, more than half (53%) believed it is possible to start their own business but lacked resources. Looking deeper into the data, they learned that younger Canadians were significantly more likely to want to be their own boss, and believed it is possible to start their own business.
This is a powerful insight for marketers trying to connect with Millennials. Like all generations, Millennials are not a homogenous group. By painting them with the same brush, marketers and communicators miss potential winnable audiences. Honing-in on a sub-group within the Millennial cohort creates a competitive advantage.
Enter the Solopreneur.
They are leaders who are not concerned with followers, and they’re not against giving up their evenings and weekends or working two jobs to achieve success. The Solopreneur is not afraid of making personal, lifestyle or financial sacrifices in pursuit of their passion.
Solopreneurs are looking for products, services and resources to help them solve their time and money challenges. Basecamp seems to have figured this out and appears to have built some of their success on being able to connect with this group to demonstrate how their services meet their unique needs.
Marketers who can build narratives, programs and campaigns that show an understanding of the Solopreneur’s hustle, their sacrifices in pursuit of their passion, and what tools they need to get work done, will undoubtedly create a better emotional connection and draw more attention from this audience.
When building strategies, ensuring you develop the right partnerships and engage appropriate influencers is crucial. If appropriate, ensure you establish a network of brand advocates who will authentically share their experiences and create an ongoing cadence of impactful content to inspire, inform and connect with the Solopreneur. Provide hands-on experiences, exclusive entrepreneurial opportunities, and access to events that will help foster their entrepreneurial pursuits. Connect with the Solopreneur community to build brand awareness and position your brand within this target audience. Partner to create Solopreneur pop-ups and takeovers to offer trials and demos, sponsor grassroots entrepreneurship events and host master classes and boot camps.
Brands who can help solve the challenges entrepreneurial Millennials face, while also demonstrating how their brand can help them build their businesses, will position themselves as valuable partners in the Solopreneur’s journey. Those who do not risk being unnoticed by this niche subset of the Millennial cohort.