Is your business reaching out to Millennials? If not, it should be. After all, this demographic of 18- to 34-year-old consumers has formidable spending power and more gadgets to facilitate buying than any generation preceding it. While there is no one best way to target Millennials, there are several ways reach them and their sizable pocketbooks. TheWire shares some of them here.

Use Social Media

Over 42% of millennials say social media is their most relevant ad channel.

As you develop a social media strategy targeting millennials, consider the following:

• Place online and mobile advertising to reach them virtually anywhere.
• Create a business presence on Facebook, Google+ and Twitter. Remember, however, that these venues thrive on dialogue, not overt attempts to sell.
• Use Pinterest and Instagram to connect visually. Images of your people or satisfied customers using your product can connect powerfully.
• Engage target groups by taking advantage of the latest social media trends.
• Promote topics related to their interests or use content to connect.  Content could include timely blog posts, helpful information and more.
• Reach out to younger millennials with career-oriented help or insights.

Take to the street

Many millennials are walking, biking and taking public transportation according to recent studies. So think about doing street marketing events and similar venues. Music festivals, for example, are more popular than ever and are a great place to connect with an audience. Here are some ideas:

1. Build a multifunctional booth that can serve as a pop-up boutique. Sell clothing or items related to the event. At the same time, collect people’s information to build mailing lists. Think “mini trade show.”
2. Add an activity such as a photo booth. Millennials love novelty and interactivity. Allow them to create animated graphics, share their pictures and email them. Giveaways work too. Distribute free shampoo, toothpaste, umbrellas, pens or anything useful imprinted with your brand name.
3. Connect your brand with the event. Many businesses are creating lifestyle blogs to reach these young customers. Building personal relationships makes it easier to get customers and create loyalty.

Millennials are educated and social and may even seem a little quirky. They are also, however, very accessible consumers if you connect with them on their level.