The holidays are upon us! The 2015 holiday season is set to see a 6-8% increase in online retail sales – and “online” is exactly where you’ll find Millennials. There’s been a lot of talk lately regarding Millennials and their $600 billion buying power. Millennials are 80 million strong, making them the largest cohort size in history, overtaking Baby Boomers.
But what does this really mean to your business and bottom line during the holidays? Why target this lucrative Millennial generation?
1. Your Prospecting Universe Will Be Significantly Larger
Adding Millennials to your marketing mix will increase the number of prospects you’re able to reach this quarter. This demographic could prove a lucrative win for you whereas in the past, most retailers have skewed their demographics to an older generation. With digital marketing becoming a “must-have” in your marketing mix, Millennials are the perfect technology-driven generation to target online. Do note, however, that statistics show that this generation can still be influenced by direct mail. So, if your product or service are a good fit for this generation, be sure to add this demographic to your online AND offline prospecting lists.
2. You’ll Have Better Response Using Multiple Ways to Reach Your Audience
Because Millennials are such tech-heavy users, this opens the door for you to use a true multi-channel approach in your marketing. Combine direct mail and digital by using a direct mail piece to drive them to your website, then follow-up with an email to that same audience after the mail drops. Create Facebook ads, mobile texts, or push notifications with holiday sales directing your audience to in-store specials to drive foot traffic. Use digital display ads that link to a landing page that collects visitors’ contact information in exchange for an in-store coupon or online discount code.
3. Your Brand Will Be Given a Social Voice
Millennials love social. They Tweet, Post, Pin, and Share anything that interests them – or their peers if they think their friends can benefit from it. By connecting to the Millennial generation on your social networks, you’re giving your messages a better chance of being heard by these social influencers.
If you haven’t begun your holiday advertising yet, don’t worry – there’s still time to start a Black Friday, Cyber Monday, Small Business Saturday, Christmas, Chanukah, et al digital campaign! You could combine email marketing with social media advertising and digital displays. If you’d like to discuss your options with our digital experts, contact us today!