I created a poll last month to see what marketers are having trouble with when it comes to Millennials. The result? “Understanding what Millennials Want.” Well, here I am- about to tell you.

We don’t know yet.

I can’t begin to tell you how often my style has changed throughout the last five years. I’ve gone from being a walking billboard for some brands to bringing back the 60′s with my hairstyles. What we want, will be determined by you- marketers. That’s what you want to hear right? Before you get too excited, there are three important factors that go into our decision making.

Factor #1: Word of Mouth

You have heard this time and time again that word of mouth marketing is the biggest purchasing influencer. Well, here is it again. Whether we are shopping online or with friends, we are bound to read reviews or ask our friend’s opinion. Some even go as far as to ask a stranger.

What this means for you: Make sure that you are monitoring what is being said about your brand. If there is a flaw, be there to fix it.

Factor #2: Price

Since we have grown up with computers, we have become pretty good at comparing prices and finding similar products for cheaper. Most of us are penny pinchers and love those bargains.

Want in on a secret?

If there is a discount, coupon, or offer that comes with a product, we are more likely to pay the higher price.

Let me be more clear. If we had to choose between two similar products, we would most likely pick the one that comes with free shipping or some discount even though the ending price is of the same or higher value. Why? Because we like to think that we are getting some kind of deal and if we believe that we are getting a deal we won’t look further into the logistics.

Factor #3: Brand

Before you get too down about this factor, let me be clear in saying that even if your brand is not in the top 10, you still have a chance.

A Millennial that says brands are not a factor that influences them to buy certain product is, in fact, lying. We prefer specific brands over another. Once we like a brand, we are more likely to go back and continue to buy their products. Let me be clear, though. there is a reason that this is the #3 factor.

When Millennials are choosing a different brand for the first time, Word of Mouth and Price drive their decision to buy the certain brand. It isn’t until after the decision to buy that “brand” is then a factor.

What this means for marketers?

Getting past the first two factors of word of mouth and price are the hardest. With those factors, you need to influence Millennials that they want to try your product. After that, brand preferences are established and loyalty from your fellow Millennials will become present.

What marketing tactics have you seen that have baited Millennials?