How Retailers can Market to Millennials
These days you are probably hearing about Millennials all the time—but how can you reach this new shopping segment and bring them into your store?
Millennials—those currently 19-36—are probably the most talked about marketing demographic today. That’s for two reasons. First, their buying power is increasing as they come of age. And second, Millennials expect to be marketed to in a new way. While Boomers, and even Gen-Xers, are comfortable with traditional marketing outreach like radio and TV commercials, direct mail and flyers; Millennials tend to be more digitally savvy and don’t always respond to traditional mass media.
To discover how best to reach Millennials, let’s first find out how they think!
Getting inside a Millennials Head:
~ Two words: Smart Phone. 76% of Millennials own one and if you want proof of dependency, 83% actually sleep with their smartphone!
~ The eyes have it. Millennials love visual content, 81% post their photos to the internet. So it pays to craft your marketing content to be heavy on the pictures and light on the text.
~ Find them on Facebook. If you want to target Millennials on social media, start with Facebook and then branch out into Instagram (which is totally visual) as they are the two most popular social sites with this group. Of course, Pinterest is a very close third growing in popularity with the female Millennial.
~ Authenticity Matters. Millennials see brands as an extension of their values, which means they return to brands they know and trust. And if they don’t already know your store, they will rely on word of mouth to determine if it’s a place to spend their money.
But where should you be reaching the Millennial crowd?
According to Ad Week, “Millennials see their laptops as a retail portal and catalog… and also their preferred device for viewing TV shows; their tablets as a luxury that falls somewhere between a downsized entertainment center and an iPhone on steroids; and their smartphones as a fifth limb…” So when you think Millennials, think digital and consider that you could be reaching them on any screen, laptop, tablet or smartphone.
As you start to focus your marketing on the newest generation with buying power, think about your messaging as a two way street. Find out what Millennials in your area need and offer it to them: maybe they want to be able to shop later in the evening and you could offer longer store hours one day a week. Perhaps they wish to look at pictures of new product online and you could post new pictures of “just in” product on your Facebook page. Whatever they are looking for, make sure you offer the product to them in an authentic manner. Then, as you build your relationship and trust with this group, you’ll find that their propensity to recommend a good store to their peers will drive more business over time.
Do you have a tip for marketing to the Millennial audience? Share it with us in the comment section below.