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How Promotional Distributors Can Market To Future BuyersPresented by Liz Allen & Sarah Wilson

+So, who are they?

• Known as the Millennial generation. Also known as Gen Y or Generation Me.

• Born between 1980 – 2000 (Age 13-34).

• It’s estimated they’ll be spending $200 billion annually by 2017 and $10 trillion over their lifetimes as consumers, in the U.S. alone.

• Their buying strength, within only a few years, will exceed that of the Boomers.

Just like every other generation, Millennials display generalized and unique traits.

Millennial customers—80 million in the U.S. alone–are about to become the most important customers your business has ever seen.

+How they differ Greater purchasing power (because

of their education) and far more influence (because of their numbers).

They rely on sharing opinions with friends online to make more informed decisions.

Ongoing engagement is necessary to keep them interested.

They don’t like brands that explicitly “sell” to them; but brands that sell by providing new, robust, relevant information will have more success and create repeat engagement.

What makes them different from other generations?

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Let’s get startedYou need to understand these customers if you’re going to be able to create a millennial-friendly sales, customer experience and customer service approach.

+Your new buyer

Will make up 50% of the workforce in 2020

In 2025 they will make up 75%

63% stay updated on brands through social networks

41% of them have made a purchase using their smartphone

44% are willing to promote products or services through social media in exchange for rewards.

*Sources: Ipsos, Edelman Digital, Aimia

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Millennials as Customers6 Generational characteristics you need to understand

1.) They make promotional product purchases online

2.) They trust you more if you’re on social media

3.) They’re passionate about values

4.) Reviews/case studies are key purchase influencers to them

5.) They like and use coupons; and they make them loyal to you

6.) They want your online information to be up-to-date

+How to apply these characteristics to your business model

+89% of Millennials make promotional product purchases online

1. Fast, beautiful, and intuitive websites

2. Brand personality

3. Quick, personal customer service

What do they really look for when doing business online?

+5 out of 6 Millennials claim they connect with companies through social media networks

Be social

1. Foster discussion, comments and feedback about your services.

2. Don’t use it as a sales pitch!

1. Use the 80/20 Rule

2. 20% to promote your brand. 80% interesting content that interests and engages your audience

3. Try to post something 3-5x per week

1. Contests & giveaways

2. Personal/interesting

3. Newsletter

4. Loyal customer rewards

+75% says it’s important that a company gives back to society instead of just making a profit

Millennials are more likely to purchase from a company that supports a cause they care about.

As a way to differentiate yourself from others, and as a way to build upon your brand, find something that you and your employees are passionate about.

Be sure to mention it on your homepage and all social media that you support a good cause.

Stand for something

+84% of Millennials rate ‘User Generated Content’ such as reviews/case studies as a key purchase influencer

Add a section on your website for testimonials/case studies.

When a customer is deciding to choose between you and a competitor, they will more likely go with the business with positive reviews that are easy to find.

Start by reaching out to your most loyal customers via email or phone. Start with your most loyal customers first.

Get reviews

+90% of Millennials say they use coupons – and half also say they increase their coupon usage in the past year

Millennials need a deal that’s 25% to 32% better than what Gen X and Baby Boomers are looking for before they’ll take advantage of a coupon.

Utilize e-mail marketing, social media and your website to keep customers up-to-date with special discounts and offers.

Customers have a myriad of options in the promo industry. Keep them loyal by giving back to them through discounts and coupons!

Give back to them

+75% of Millennials say their biggest website peeve is when they’re not kept up-to-date with relevant news, events and content.

Stay up-to-date

Be authentic, be concise, and emotional.

Millennials want to be engages and entertained.

Be consistent with your email marketing

Consider adopting a CRM that will allow you to pick up on certain buying patterns of different groups.

Segment your email lists to provide customized target marketing.

+Summary

The Millennials, more than any prior generation, are influenced by the culture and world developing around them. Technology and changing social dynamics have a profound effect on their beliefs and actions.

This generation is just realizing its purchasing power; as another decade passes, the brands they have built relationships with today will be the ones they are loyal to tomorrow.

Learning to market to this generation will better prepare your brand for the next—who, at the age of one, are already using iPads and being influenced by the world at speeds so far ahead of other generations that it’s hard to imagine what their values will be.

+You’ve been introduced to the Millennial. Now is the time to introduce your business to them!

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