Capturing the Millennial Market: It’s all in the value story you’re telling

Millennials. The great white whale of the motorcycle industry. I’m sure it’s no surprise to you that the industry has been feeling a little flat recently - with more and more consumers turning to off-road units, rather than the traditional bike their dad rode. But by 2020, millennial consumers will make up 30% of all retail sales in the US - and we want to make sure that audience is buying motorcycles.1 So how do we attract and engage this slightly finicky bunch of consumers who will soon play a huge part in the US economy?

Play to their interests.

Motorcycles are actually the perfect vehicle for the millennials consumer, even if they don’t know it yet. And here’s why:

• Millennials are all about their tribe and the experience — particularly on a local level. They are looking for a way to find other like-minded people in their community — why do you think craft breweries and one-location restaurants have become so popular recently? They promote a fun, family friendly environment that allows millennials to support a local business — and riding a motorcycle has those same values at the core of our industry. Make sure to highlight this to potential millennial customers from the beginning and consider having some ways they can get involved right from the initial point of purchase. You could host a first time riders night, have weekly meet-ups at a local brewery for existing customers or host a motorcycle licensing class to help them get started. 

• When it comes to finances - they are nervous to commit to too much debt. The millennial generation is the product of a recession and the first generation that might not make more than their parents did, which makes them hesitant to take on too much debt. Motorcycles are often less expensive than cars and gives these buyers a way to get around, without tying them down to huge monthly payments. While helping a buyer understand the full purchase price of a unit is important, make sure to highlight how low their possible monthly payment would be to help them see the affordability of their new ride. 

• They are environmentally conscious - and motorcycles are the original smart car. They are gas friendly and definitely easier on the environment than a huge SUV or even a four-door sedan. Even if they aren’t the millennials primary commuter vehicle, a motorcycle could be a great in-town car that lets them sub-out their regular car on the weekends or in the evenings. Many consumers might not think about the environmental impact of owning a motorcycle as opposed to a traditional car - so make sure to point it out to them. Also - you’re more than welcome to borrow one of our marketing messages - Motorcycles: The Original Smart Car. 

Millennials, despite their quirks, are going to play a huge part in the future of our economy, both within the motorcycle industry and beyond. Test out a couple of these strategies and see how they work for your dealership when it comes to engaging this audience. Millennials can be a brand loyal group, so by playing into their interests, positioning your product in a way that meets their core values and providing them with a positive brand experience, you can gain a lifelong customer.