Ah, Millenials...

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by Jim Mason

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Marketing to Millenials has to incorporate not only their complex interactions, but also how they are able to still see even though their hair bangs permanently cover up at least half their face. See below for photo credits.

Ah, the Millennial Generation…

Digital natives.  Diverse.  Confident.  Self-expressive.  Much has been written about this generation and their characteristics.  Due to their sheer size (they are larger than the Baby Boomers), they are going to be a powerful economic force.  It is critical for companies to understand these consumers and their shopping habits to remain relevant over the long term.

A few weeks ago, RIS (Retail Information Systems) News and the Fashion Institute of Design & Merchandising(FIDM) hosted a conference focused on the millennial generation.  I was honored to be the keynote speaker at the event presenting several digital strategies retailers can employ to capitalize on those millennial characteristics.  I’ll share some of those ideas in a future post, but I thought it would be interesting to first start with some insights about the Millennial generation from the conference.

One of the highlights of the event was a panel of five, 20-25 year old Millennials who shared their opinions on a variety of topics.  While I’m not sure that the panel was diverse enough in age, geography, socio-economic background to represent the entire Millennial generation, I thought they did offer some interesting insights.

Millennial panel takeaways – The Expected 

Many comments played directly into the generational stereotypes and characteristics that have been widely written about.  Some of my favorites included:

• On the impatience of Millennials… “I want service immediately – when I’m ready.”
• On the passion of Millennials for causes they support… one student spoke about her new go-to app, The Good Guide, that helps consumers identify safe, green and ethical products.  She described “standing in the aisle using the app for an hour trying to decide which detergent to buy.”
• On doing the right thing… When asked about showrooming, the panel almost universally responded, “that’s not fair.”  Later when discussing music downloads, they said “I pay for them. It is better for the artist.”
• On other random generational characteristics… In an oft cited statistic, the Pew Research Center says that nearly four-in-ten Millennials have a tattoo.  So I thought it was funny when (unprompted), a panelist shared, “I’m looking to get a new tattoo [so I’ve been spending a lot of time getting ideas on Pinterest]”

I enjoyed the conversation around “cause marketing” since there still seems to be greater potential in this space for marketers targeting the millennial generation.  Establishing and promoting a more significant link between your brand and a specific cause can improve your brand image among millennials.

Millennial panel takeaways – The Unexpected & Worth Noting

Several other comments from the panel had some interesting nuggets for marketers to keep in mind.

• Facebook usage is on the decline.  All panelists mentioned diminishing usage of Facebook.  Instagram, however, is something they are “obsessed” with.
• Twitter usage is minimal with two of the five panelists expressing an active dislike of Twitter.  In fact, only one of the five uses Twitter, and she “doesn’t follow [her] friends on Twitter, just things I find interesting.”
• Foursquare barely registered with the panelists.  Not only do they not use the service, but several were barely familiar with it.  This point caught me (and the rest of the room) off guard.
• Text-based marketing and geotargeting were described as “creepy” and “not genuine.”  They didn’t like the idea of a retailer sending them messages based on their proximity to a store or a given department within a store.
• Their retail mobile sophistication was less than I expected (I’m not include tablets in my definition of mobile).  They rarely use mobile in-store, use relatively few retail mobile apps, and have not made many mobile purchases.

What does this mean for marketers?  Go slower on SoLoMo (would that make it SLoMo)?  Not exactly.  The Millennials are certainly social, but the standard methods that have received so much attention (Facebook, Twitter, Foursquare) aren’t sufficient for reaching Millennials.  Companies need to think about how they can embed social concepts more deeply in their experiences and business models.

Look for some upcoming posts in which I’ll outline some techniques (such as curation and co-creation) retailers can utilize to engage this generation.

A special thanks to the students at FIDM for sharing these insights and hosting the event.

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