Is Your Brand Missing Out on Millennials?
The millennial market has never been more important.
The group – generally considered those born between 1977 and 2000 – now makes up over 24% of the entire U.S. population. Their spending power is steadily rising and they’re influencing huge shifts in the way we eat, shop, and purchase goods.
If your brand isn’t specifically marketing to millennials, you’re missing an opportunity.
- Over 79% of millennials know that ads are necessary and nearly half aren’t bothered by them
- More than 90% of millennials are on social media and engage regularly and deeply
- Millennials are 2.5 times more likely to be early-adopters of new technology
Millennials are influencers. They’re discerning and they’re informed, and they’re receptive to useful marketing messaging. There’s a place for your brand within the millennial marketing network – have you found it yet?
How to Market to Millennials
So, when do millennials want to be marketed to? Studies show a lot of millennials use “second-screens” regularly, essentially diving deeper into a brand’s content offerings on the smartphones when they’re exposed to brand messaging on television, digital bar caddies, or OOH ads.
Millennials want to be part of the process; they’re willing to engage with marketers if they feel like they’re getting something of value. There are dozens of ways to accomplish this, from providing entertaining apps, point-of-purchase coupons, or an immersive social experience. They want to be involved; ask them to help create content (#socialposts!) is one of the best ways to simultaneously market and brand.
Millennials spend more than any other generation on “convenience” items like taxis, fast casual food, and dry cleaning. One of the areas in which millennials spend a huge chunk of their disposable income – and time! – is dining. More than 50% of all millennials say they dine out and/or go to bars at least three times a week. Bars and restaurants are no longer just places to eat and drink for this generation…they’re social hubs.
One of the most attractive factors in advertising to millennial diners is dwell time. The average meal out takes just under an hour and bar patrons generally spend about 20 minutes sipping each drink. Advertising platforms such as Media Caddy’s bartop and tabletop caddies are ideal for reaching millennials when they’re relatively captive. Because there’s a lot of down time in today’s dining experience (i.e. waiting on service, on food, on fellow diners to show up), the medium has proved incredibly effective at increasing brand awareness for advertisers.
Appealing to the Millennial Buyer
Millennials make fast purchasing decisions. That’s great news for marketers, but a bit of a hurdle for traditional marketing channels. On-the-go millennials don’t have time to sit through a long marketing pitch, so smart brands are meeting them where they are: at the bus stop through digital out-of-home ads; at happy hour through branded content streaming on a tabletop caddy; on their smartphones through opt-in apps.
How can your brand capitalize on this kind of quick-thinking capitalism? Remember that millennials don’t like to be sold to; they want to be courted. They respond to value propositions and what they define as “value” isn’t always what you think. Studies show millennials are looking for authenticity, social awareness, and innovation from the brands they choose.
Media Caddy wants to help you brand yourself better. Our line of innovative digital out-of-home caddies are functional and fun, and best of all, millennials love them. The feedback we hear from dining establishments time and again is that young patrons love the kind of informational, infotainment content our caddies bring to the mix…and on-table phone chargers don’t hurt.
How can we help your brand reach more millennial consumers? They’re waiting to hear from you; Media Caddy is, too.