Marketing to MillennialsGain the interest of this large, diverse, and influential group.
Millennials were born between 1981 and 1995. They currently make up 27% of the U.S. population. By 2020, Millennials are estimated to be a 1.4 trillion-dollar spending demographic, and represent 30% of retail sales. This generation is larger than Boomers, yet harder to market to and reach.
How do you gain the interest of this large, diverse and influential group?
Discover their values.
This unique generation isn’t growing up in the traditional sense. What adulthood looked like in the past (college, car, house, and kids), translated into values: practicality, integrity, duty, and family. This old-school way of thinking is just that—old—older than the age group you’re trying to reach.
Millennials have a much different set of values: happiness, passion, diversity, sharing, and discovery. Finding their individuality and appealing to these qualities is the best way to reach Millennials.
Make it personal.
With such a vast age difference, you wouldn’t send the same message to an 18 year old as you would a 35 year old, regardless of gender. Ad messaging will need to be targeted and appeal to individuality. Using two, or even three, different messages can reach across the millennial age divide. The trick is to appeal all aspects of this generation.
Ask for input.
Think of Millennials as partners. An interactive strategy unites the millennial consumer with your company. Give them a voice to become part of the marketing experience. And ask what they want. Millennials will tell you—70% feel a responsibility to share feedback with companies after a good or bad experience.
Shareablity pays off.
Coco-Cola targeted Millennials with their “Share a Coke” campaign. It has been wildly successful around the globe. Putting names on cans took the millennial generation by storm. Selfies with a Coke product in hand littered the social media scene. The company increased the names available on products from 250 to 1,000 based on responses. The company achieved a 2% increase in soft-drink sales, increasing Coke consumption from 1.7 to 1.9 billion servings per day, and making #shareacoke a No. 1 global trending topic on social media.
We can help you speak their language.
Let us help you get your message to your target audiences. Contact us online of call us at 513-768-8119 today.
Copyright 2016, The Nielsen Company.
Accenture.com “Who are the Millennial shoppers? And what do they really want?”
Millennialmarketing.com “Who Are Millennials?”
Forbes; Inside the Millennial Mind