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millenial shopping Archives | MSSmedia

10 Tips for Advertising to Millennials

By | Buying Power of Millennials, Campus Advertising, DNA of Millennials, Engaging Millennials, Generation Z, Social Media Advertising | No Comments
Advertising to Millennials
As we all know, millennial generations are critically important to the Media and Communications industries. Some people don’t get them, others excuse them, but in order to successfully engage with them the best thing to do is to fully understand who they are and what they want.

So, what is a Millennial? The definition of a millennial is not unanimous. However, it usually refers to the age range between 18-35 years old. But, one of the first words that comes to mind when you think of the millennial generation is SOCIAL. Since Millennials were born during the years of change, such as the advent of digital marketing, they are known for being very active on all social media platforms and are always on top of key trends like food and fashion. However, besides these key millennial generation characteristics, there are many more to pay attention to (especially in the advertising game). In order to catch their attention and build their trust over time, it is important to follow these 10 tips when deciding to advertise to them.

 

SUPPORT A GOOD CAUSE

Supporting a good cause is the perfect way to incentivize your Millennial audience and to show that you care about making the world a better place.

General practices such as supporting a cause and using creative advertising methods will certainly help. For example, climate change has increasingly become a critical topic that many Millennials take seriously. So, once you have segmented your audience, start creating high-quality messaging with the mediums that you will use for the segments chosen. This can be in the form of a billboard, an advertisement on a bus shelter, or any other campus media that engages these younger generations while improving your ad positioning as well.

USE OOH ADVERTISEMENTS

Have you ever seen one of those billboards on the side of the road during rush hour and thought that it read your mind? OF COURSE. Out-of-home advertisements have been found as a very effective method to influence people’s purchasing power, specifically among Millennials. It is a fun type of advertisement that is to be straight to the point. In fact, studies show that OOH resonates with authentic and real-world experiences. The nature of billboard advertisements is to play off of our short attention span and provides a last-touch opportunity in the path to conversion. In this way, brands have the chance to resonate with young generations multiple times of day. At MSSmedia, we provide a suite of OOH campus media placements that will help your brand make an impact and a sincere difference. Curious? Check out our work here.

PODCASTS

Millennial audio consumption of all types has been increasing on a national scale. According to iHeartRadio, we are currently living in an audio-first world where streaming services, podcasts, and radio are gaining ground day after day. This year, 51 percent of American consumers reported listening to a podcast. At MSSmedia, we offer quality audio advertisement placements that capture users on streaming services nationwide.

PEER-TO-PEER MARKETING

Millennials and the Gen Z are interested in authenticity, not salesmanship. They prefer insights from people whose lives are like theirs – not from the ones that are “too cool” to be true. And, this characteristic of the millennial generations opens up the opportunity for peer-to-peer marketing to flood in. Peer-to-peer (P2P) marketing is a method where customers engage other customers through recommendations. With a big component being word of mouth, P2P is used on college campuses. But, social media, in the meantime, is the P2P equivalent in the business game. It doesn’t feel like a sales tactic, Millennials say. It is not pushy or self-focused. On the contrary, P2P lends authenticity while giving a voice to those who have nothing to gain but meaningful and reciprocal recommendations.

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Driving Factors for Millennial’s Retail Decisions

By | DNA of Millennials | No Comments

The buying power that millennials have entices brands and retailers of all industries. There are about eighty million millennials in America and they represent about one fourth of the entire population with $200 billion in annual buying power. Despite this, companies have been struggling to connect with them through advertising and capture their attention. They’re different from their parents and previous generations so retailers have had to approach them differently. Below are key factors to keep in mind that differentiate millennials and their shopping habits.

1. Save for a rainy day

According to the second-quarter 2015 Nielsen Consumer Confidence report, roughly 70% of millennials indicate their personal finances will be either good or excellent in the next year. These same consumers have experienced the hardships of the U.S. economic turmoil, therefore they are savvy shoppers by necessity. They will purchase previously used items and research at least four sources when trying to decide on a purchase.

2. Some millennials are thriving economically

Some millennials struggle with money, but about 27% of this generation qualifies as upscale millennials that earn more than $75,000 per year. This subgroup has a median income 11 times that of the general millennial group. Brands need to understand the needs of this distinct subgroup to capture their attention.

3. Spend money on what matters to them

Yes, millennials love a deal, but they also spend money on what matters to them. Known as the technological generation, millennials will not delay in upgrading their devices to save money. While they spend less on clothes to save money, 35% still make apparel purchases with their extra cash.

4. Digital is Key

About 92% of Millennials own a smartphone, compared with 76% of Baby Boomers. Because technology is an integral part of their lives, it’s a key component of their shopping experience. Roughly 19% of Millennials and 31% of upscale Millennials spent over $1,000 online in the past year. The majority (66%) use the Internet to purchase hard-to-find items. Roughly 70% of upscale Millennials scour the Internet for hard-to-find items.

5. Trusting Generation

Compared to all other generations, millennials are the most trusting of almost every type of advertising including traditional and digital. For the retailers that can tap into these outlets and properly communicate their message to this generation will see big rewards.

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