Blog

How do millennials love thee? Let 'em count the ways

Millennials are a prime focal group for targeted marketing, a relatively untapped approach that marketers are slowly lining up to use for this age demographic. The reasoning for that is as close as the nearest statistical report for this group, which actually surpassed the number of the Baby Boomers last year.

October 11, 2016 by Seshu Madabushi — Founder & CEO, mKonnekt

Millennials are a prime focal group for targeted marketing, a relatively untapped approach that marketers are slowly lining up to use for this 18-to-34 age demographic. The reasoning for that is as close as the nearest statistical report about this group, whose number in 2015 actually surpassed that of that other culture-changing demographic group, the Baby Boomers. In fact, take a look at the numbers:  

•    In 2015, there were officially 75.4 million U.S., according to Pew Research, or about a fourth of our population. 
•    Collectively, their buying power comes in somewhere around $200 billion.
•    They are online fiends, spending an average of about 25 hours a week on the web. 
•    They depend on group-think, with 73 percent of millennials saying they seriously weigh the opinions and reviews of others about any product or service before they buy.

A distinguished age group

But before delving into a marketing approach to this group, it’s essential to know how they operate and think, particularly compared to other age groups. Here are some primary findings:
•    The hyper generation:They are always communicating – either posting, pinning, sharing, tweeting, snapping, commenting or forwarding content. 
•    They shape their opinions online to reflect the content consumed there. 
•    The vast majority – about 84 percent – don’t pay much heed to traditional marketing, but they have lots of "advisors" tucked away in smartphones, iPads and other devices. Ultimately though, they rely on their instincts concerning purchases.
•    Their smartphones are tools of consumption, with 34 percent of millennials heeding online product reviews and other descriptions before purchase. 
•    Their friends’ opinions are also important, with as many as 22 percent of millennials reporting their friends influence their buying decisions. 
•    They’re “snoopy”:Before buying this group loves to visit coupon websites for deals, as well as product price comparison websites for the best offers.

So, given those qualifications regarding millenials’ buying behavior, here are suggestions for achieving results with this audience through the so-called AIDA model for advertising and marketing: 

Attention: 
If customers stop to take a look, you’ve achieved success for your marketing effort. In fact, research indicates that about 40 percent of men and 33 percent of women say they will make an impulse purchase if something catches their fancy on a first impression. This means your brand needs to be ubiquitous — everywhere, all the time — with a staunch social media presence and e-commerce platform. Start with well-integrated POS software, which seamlessly syncs orders, updates menus and organizes data. Seek POS systems that give you the complete package for online orders, deliveries and post-sale follow-up.

Interest:
Don’t just spark their interest, motivate them to take the next step. So, whether you capture interest through your décor, daily deals or online contests, make sure your brand has its own "quirk" that provides both creative and interesting content as well as rewards for millennials who bring you their business. 

Desire:
Once you’ve got them interested, get them to want what you’re offering. To further this cause, use geo-based filters for your images, maintain constan customer interaction online, and make sure you post those interactions to drive home the relationship. Consider strongly using in-store incentives to build social media momentum. Instagram can be a particularly powerful tool in this respect. For instance, how many #FoodPorn pictures do people blame for crashing their diets and getting them to go to a restaurant? Capture your menu items in their best light and get those images on websites like Instagram, Zomato, Trip Advisor, Yelp, Facebook and Twitter to entice prospective customers in to eat. 
 
Action:
Finally, you must convert these hard-won prospects into customers through your product and service quality. Millennials have thousands of restaurant choices as close as a tap on their smartphones, so only the best will reel them in. Marketing research indicates that 42 percent of this generation respond to incentives and special deals by making immediate purchases.

In short, this generation demands a toned-down, conversational marketing approach over direct sales pitches, so don’t pressure, but do give them plenty of reasons to see why your brand is a sure-bet for the best overall food, service and value.

About Seshu Madabushi

---

A serial entrepreneur with a focus on restaurant marketing, working on the latest venture mKonnekt. mKonnekt is a platform that mines customer data to create personalized and unique dining experiences.

Connect with Seshu: