They number 80 million – almost 25% of the United States’s population. The European Union has similar numbers: approximately 24% of the total population belongs to this group. You know them as millennials.
Cultural and political feelings toward millennials aside, you cannot deny the economic power of a quarter of the population. They spend $600 billion per year in the United States. If you’re worried that millennials won’t even see your digital signage, don’t be: Accenture reports that 82% of millennials prefer shopping in brick-and-mortar stores.
Marketing to millennials, however, cannot be approached the same way as marketing to other generations. Millennial buyers:
Grew Up with Technology
Millennials are familiar with it and generally prefer using it. Share.Like.Buy defines millennials as people born between 1977 and 1995, while Accenture puts the age group between 1980 and 2000. Regardless, these are the years where technology brands became big and technology began to move more quickly than before.
What this means for you: Don’t be afraid to push the limits on what your digital signage is capable of, technology-wise. In fact, millennials’ savvy with technology may require to update your digital signage to the latest-and-greatest in order to compete.
Want to Save Money
Millennials like to shop around for the best deals. Share.Like.Buy reports 56% of millennials will “switch brands for cents off a coupon.”
What this means for you: Use your digital signage to push your sales and discount programs. Seeing your signage may push a millennial to bypass their original choice for your product. If you offer a coupon on your digital signage, Accenture says you need to be sure it can be scanned on a mobile device.
Participate in Loyalty Programs
Some say millennials have no brand loyalty, but they do like loyalty programs. Share.Like.Buy found that “50% will go out of their way for frequent shopper reward programs.”
What this means for you: Spend some time advertising your reward programs on your digital signage. It’s even better if you can encourage signing up through the signage.
Prefer Something They Can’t Find Anywhere Else
There’s also another shift in consumer mindset. Mindshare found that 58% of Millennial consumers prefer buying unique over mass produced goods.
What this means for you: Utilize kiosks that allow shoppers to create personalized or customized items.
Use Media Differently
Millennials spend a considerable amount of time on social media, but very little time is spent with traditional media. “38% watch less than 10 hours of TV,” per week according Share.Like.Buy, but 47% define themselves by the content they post to social media.
What this means for you: Focus on content that allows millennials to share on social media. GIFs are especially popular according to Mindshare. Promotions encouraging viewers to engage during a live TV show, though, probably won’t be as effective.
Like Brands that are Socially Responsible
Though millennials have a reputation as shallow, Mindshare found that only 30% of Millennials believe fashion represents who you are, and only 11% believe cars do. However, Share.Like.Buy says “63% will likely do business with a socially responsible company.”
What this means for you: Showcase your company’s philanthropic work or causes you’re involved with on your digital signage. You should especially focus on any products which directly benefit these causes. If your company is taking steps to reduce your carbon footprint or promote environmentally-friendly manufacturing, promote those items, as well.
So Much is Different, but So Little Has Changed
Digital signage is still an effective advertising tool when targeting millennials. The trick is to provide content favorable to millennials with the technological advances expected in a good customer experience.