Following their survey into which brands are firm favourites among millennials, marketing industry media outlet The Drum has pinpointed exactly how these brands have marketed themselves.
Here’s a summary of the promotions which have found favour with this generation:
Cadbury regularly includes promotions in their marketing mix, from ‘Adopt a cow’ with Buttons to ‘win a luxury holiday’ with Mini Eggs. Not only does Cadbury boost sales at struggling points of the year with rewards but also draws the experience-seeking consumer group in.
From free movie streaming and gig tickets to a hotel stay or free flights, there’s an opportunity to attract millennials.
Promotions and loyalty – from food to fashion
Over two thirds of UK consumers use discounts, coupons and promotional offers when eating out and more than a quarter of Brits will only dine at restaurants that offer promotions, with figures rising among millennials. It’s worth noting that these coupon cravings extend beyond millennials, however. Our survey shows that almost all consumers use coupons when supermarket shopping (99%), saving a massive £3.4 billion last year.
Sharing experiences on social media is common and millennials have FOMO (fear of missing out) if they don’t join their friends eating out, so they are looking for alternative ways to save money, becoming the norm with diners.
Loyalty perks is increasing in importance for this group. Asos also came out on top in the fashion loyalty survey as the most recognised brand, rewarding customers, and it seems that this is what places it in overall number one for this category.
Brands can get ahead by providing personalised communications and rewards using a loyalty platform. Millennials favour the personal approach and like to see the human side of the brand. If you take a look at any successful business, browse through Twitter posts or attend a marketing event, the need for a ‘human’ approach towards consumers is blindingly apparent. This incentive appeared in the market research when the group named their favourite travel brand – Airbnb. Millennials describe the company as “unique”, “human” and “experiential”, as the brand pushes its focus on making its destinations a ‘home away from home’ and to not just go there, live there.