Studies show that the average person views anywhere from 3,000 to 20,000 advertisements per day.
Though the range is quite extreme, testing the research on your own could prove to be difficult. Do you consciously count the ads you view in your morning routine alone? Probably not. I tried tallying the brands up and quickly lost count. Toiletries in the shower, food labels in your fridge, commercials on the radio…the ads are everywhere! If you regularly stop for your morning cup of joe, it probably means a company (likely Starbucks or Dunkin Donuts) has done something right – though you might just be a creature of habit. When it comes to millennials, don’t forget to factor in the social media platforms instinctively checked as they stroll into work – but we’ll analyze those statistics in an upcoming blog!
One of the reasons you probably don’t realize you are looking at so many advertisements throughout the day is because, after a while, consumers start tuning the ads out. Which is why companies need to ensure that their ads leave a lasting impression, draw a viewer in, and ultimately result in a loyal customer.
Millennials are currently the largest living generation, and as discussed in our opening Marketing to Millennials blog, they will spend trillions of dollars collectively throughout their lifetime. Millennials value experiences and they rely on their preferred brands they buy from to meet expectations and make a difference, which could be why their spending habits differ from their elders.
Advertising, too, has changed greatly throughout the years, and marketing teams need to constantly keep up with the trends to ensure they are implementing the appropriate marketing strategies, to the appropriate audience. Below are some important factors companies should consider when analyzing marketing strategies aimed at millennials.
Solve their problems
We’ve previously discussed how millennials are constantly looking for ways to make life easier. While some might perceive the generation to be lazy, in all reality, they are smart in their wants and needs. With so many companies providing options for the same services and products, who wouldn’t opt for the brand that provides the easiest user experience?
If we’re being honest, every situation can be seen as having a problem. If you are a successful brand, your company aims to solve that problem. Enter Uber. They recognized the pain people experience when standing out in the rain or cold in an attempt to hail a cab and the frustration of realizing they don’t have the cash to pay the fare once inside. Uber simplifies the user experience by allowing users to quickly guarantee a ride through a few clicks, provides updates regarding when their driver will arrive, and submit payment through a linked credit card. The company was successful in assessing a problem, providing a solution, and ultimately took off.
Does your company look to solve a problem the buyer might be experiencing?
Above all, millennials look for brands that can be considered a one-stop shop.
Looking for a quick and simple way to order a product offline? Need something at the drop of a hat? Cue Amazon. What started out as an online retailer for books, quickly grew into a “retailer of all things.” Amazon allows users to search for thousands of different products, ranging from clothes to toys, household products, and groceries to electronics. The company is popular among users, perhaps because it allows users to view recommendations based on previous searches, and guarantees quick delivery through one-click purchasing. The company took their brand even further and expanded their offerings to include multiple entertainment options for customers, including reading, music, movies, TV shows and Prime originals. As millennials have started trading in cable TV for online streaming platforms, the company truly does offer everything the generation could want and need. The company continues to delight its customers and I’m sure it won’t be long until they roll out a new offering that users can’t resist.
Do you offer additional services that could benefit your audience?
Whether you offer your users rewards based on a point system, increase reward incentives based on repeat business, or charge an upfront fee which enables VIP access and perks, you’ve likely piqued the interest of millennials. They just love rewards and are likely to remain loyal to your company if your offerings appeal to them. Companies like TOMS also hold a special place in millennials hearts. In addition to providing rewards through email signup, the brand is known for providing a pair of shoes to those less fortunate for every pair sold. The company doesn’t stop there. They team up with over 100 giving partners to aid countries in need of safe water, medical attention, and training for bullying prevention programs, to name a few. It is easy for any company to offer discounted incentives or promotional coupons, but those that strive to provide rewards other than nickels and dimes have the ability to connect with their audience and make the experience one to remember.
Do you feature programs that make your customer feel good for supporting your brand?
Corporate values are typically something companies impact on their employees of a company in an effort to foster initiatives and hold a company to high standards. But more and more frequently, companies have started utilizing these same values as a large part of their marketing campaigns. If a millennial is looking to buy a new product or try a new service, you better believe they are going to do their homework. Millennials rely on reviews and if they are going to try something new, they want to know all about it, which is why they respond best to brands that are authentic, transparent, and have nothing to hide.
When a brand is transparent, rarely do they overpromise and underdeliver. “Transfarency®” is the way Southwest Airlines worked its way to the top and quickly became America’s largest discount carrier. When your marketing campaign contains a simple message, “Low Fares, Nothing to Hide,” and contains a spin on the word transparency, well, it doesn’t get more transparent than that. When you are traveling there are often unanticipated fees that pop up along the way. Southwest has solidified loyal customers by offering affordable rates and bypassing baggage fee charges. Millennials travel more than older generations and are all about the experience. With reasonable rates provided by airlines, they can focus their money on other travel activities, or make more frequent trips with the money saved. Southwest continues to increase their destinations and provides their customers with free Wi-Fi and entertainment through their easy-to-use app, not scaling back on the user experience due to low fares.
Does your brand go the extra mile to instill trust in your customers?
Take a minute to reflect on the questions I’ve asked here. When was the last time you reconsidered your marketing strategy? Have you made a conscious effort to try and incorporate an experience that millennials will want to be involved in? Millennials are here to stay, and finally reaching the age where they can afford to spend more money on what they value. You don’t want to miss out on this huge consumer base! Evolve your advertising to keep up with this evolving market.
Come back next week for more #MillennialMonday as we discuss some suggestions on ways to advertise your meaningful messages to millennials.