Millennials: a marketing nightmare or dream come true?
Posted by phemmie.wilkinson | 02 February
We break it down into five simple truth’s that’ll change your outlook on the most over-marketed group in history.
Not all Millennials are the same
From the ‘Hip-ennial’ to the ‘Millennial Mum, this a group with wide varying aspirations and lifestyle behaviors. It is impossible to connect to them all in the same way, so don’t take the one size fits all, and if you do, don’t be surprised if your campaign performs below expectations.
They don't buy, they make life statements
It’s not just a purchase, it's a statement about how they choose to live their lives. Millennials buy into brands who have a deeper role beyond purely consumption. Help them make a statement by partnering with other brands who resonate with them, whilst still aligning with your brand.
Experiences trump ownership
This is a generation interested in spending more time and money on experiences over physical possessions - constantly in search of originality and personal adventure. Satisfy their desire and create a moment in their lives that you own.
Loyalty can be bought – if you use the right currency
Incentives can work to build loyalty in a supposedly disloyal generation – they just have to be individualised incentives. Token one-size-fits-all rewards won’t cut it. How can you create tailored, targeted rewards that offer meaningful value?
They will win the price competition
Millennials will ruthlessly exploit technology to test if you’re the cheapest or not. They will use ‘tech-in-the-aisle’ to price-check and won’t be afraid to walk away if the price isn’t right. With the right campaign and POS material you can switch the argument from price to value, simultaneously winning the war on price and keeping your brand reputation intact.
TLC Marketing specialise in creating added value tactical campaigns that will help your brand address each of these truths. Our account managers work with our planners, who work with our creatives who work with you (or your agency) to squash the millennial nightmare, or any other nightmare for that matter. Drop us an email with your challenge and objectives and we’ll get back to you with some ideas. After all, it cost’s nothing to talk to people.