Millennials are capturing the talk of marketers like no generation since the Boomers. To aid in your marketing plans - or pub conversations - here are some fast facts.
Who are the Millennials? The authors widely credited with coining the term defined this generation as born from 1982 to 2004. That is a widely divergent group - today aged from 11 to 33 years old.
Why the marketing buzz? They are the largest generation in terms of size, even exceeding Baby Boomers. And, by 2018, many expect they will drive 50% of purchase decisions.
Not surprisingly, there is debate about the characteristics of this group. Their beliefs and political stance are not easily categorized or compared based on past generation definitions.
What's NOT in debate though? This is the generation born and bred on changing technology. That one statement offers great insight and clues into understanding this generation as we will explore.
Consider one final thought: 80% of Millennials sleep with their phone.
There's no denying the power of social media. But with the holiday season approaching, retailers MUST utilize smart email marketing to maximize the success of year-end sales.
According to McKinsey & Company
, "e-mail remains a significantly more effective way to acquire customers than social media—nearly 40 times that of Facebook and Twitter combined. That’s because 91% of all US consumers still use e-mail daily,
and the rate at which e-mails prompt purchases is not only estimated to be at least three times that of social media, but the average order value is also 17% higher."
Not only that, but be careful where you direct your customers who DO click through. Always link them directly to the item or a custom landing page that focuses on the collection you're promoting. Not only will it decrease frustration, but it will increase conversion rate by 25%.
Time to get planning.
We strive to reduce or eliminate the ‘fine print’ from all ads or promotions. It immediately speaks to a consumer about lack of transparency. Sure, offer details are often necessary. And no, they don’t need to be the most prominent feature. But the art of building customer relationships relies on being straight-forward. Have honest intentions, not some sleight of hand.
Witness this example. If you have applied for a trademark, you have experienced the steady stream of shady direct mail operators that prey on trademarks. They show up as “official registrations” or the like. Most are in the form of a bill. The look official in all regards; it would be easy for someone in accounting to accept that this is a bill for registering, protecting or somehow validating your owned trademark. Often with a Washington D.C. address to make it appear more legit.
In fact, in the fine print someplace - at the bottom, at the back, or buried in the middle of a long legal description - are the magic words. "This is an offer to…"
In fact, it is a slimy solication offer to be included in some registration listing or the like. Clearly, the most creative part of these mailers is the legal aspect. Extreme example. But don’t be that advertiser. Spend your creative time and budget developing a thoughtful campaign that will go viral for the right reasons.