21 Apr To captivate the Generation Y (or Millennials), businesses must adopt the most efficient advertising strategy
Everyone’s target group, the generation Y, has gained a significant amount of attention and is an important target for many businesses. These new kinds of consumers are difficult to attract, and especially, to gain their loyalty.
What are the latest marketing strategies to make the brand stand out from the competition? What are the vectors that will win the loyalty of consumers? What type of marketing tools should be utilised to ensure this?
What exactly is the generation Y?
It’s basically the age group between 15 and 25 years old. The term was coined in 1993 by the Advertising Age magazine. We also speak about “Digital Natives” or “GenY”.
In France there are around 13 million, roughly 21% of the French population (figures from INSEE – the French national institute of statistical and economic information).
A target with strong potential
They represent the most powerful target in terms of marketing and advertising investment, around 500% more than all other consumers.
The new business and marketing strategies
The generation Y are on a quest to differentiate and assert themselves, and wish to belong to a group that they can identify with.
Latest development: digital proximity or the new business – client relationship
The rise of digital has enabled businesses to get even closer to these consumers and to share their daily life. Certain brands and companies understand this very well and focus their strategy on this link and their proximity in every day activities.
Three significant trends in digital proximity
- Big Family concept
The company targets consumers as if they are friends. The vocabulary used is emotional and appeals to feelings.
One example is the hotel and restaurant chain, Mama Shelter, with its hotels incorporating cool, comfort and humour. A friendly place that assembles all the criteria sought after by the generation Y: a relaxed party spirit, team games (a ping pong table), a central bar, good music and so on.
- The brand that “show you care”
The company shows concern for its customers or its users. The best example occurred during the Paris terrorist attacks, when Airbnb made an appeal to all its users in the capital to find out if they were safe. The message was sent by social networks and Smartphone apps.
- The company with the “not so serious” tone.
The OKKO Hotel chain produced, via Tumblr, its famous GIF corrosive blog, full of pungent humour with its tone established in the first few lines, “a very unserious blog from the very serious team at OKKO Hotels”.
This style of extremely human marketing lifts the barriers connected with these prestigious luxury hotels.
The most popular levers
- The social networks’ vector
The generation Y is the most connected (75% of the age group 11 to 24 is on at least one social network) with 2 main leaders: Facebook and Twitter. The companies multiply their customer engagement strategies to boost their fan numbers and win the loyalty of their customers.
Companies can count on conversation marketing. It creates a dialogue and an involvement between the consumer and the brand. Once involved, internet users are more inclined to buy the brand. Take the case of Haribo that launched a followers’ poll to decide on the colour of its next Dragibus.
- The web has one watchword: humour
Serious discussions are for school or the home. On the web 15 to 25 year olds just want to relax and amuse themselves. Brands count on this humour and complicity to stand out from the competition.
- Co-branding: essential
Having a partnership with an emblematic brand is a huge trump card. Take the example of the Swarovski or Sephora brands. Their respective partnership with the Hello Kitty character attracted a target group of teenagers and young women.
This is an approach strategy using complicity and involves being present at events where their target groups gather: festivals, student parties, fairs and so on. The company declares its understanding of the target group.
Whatever type of marketing strategy and vector employed, certain criteria remain inseparable from a successful campaign outcome. The product’s quality, its innovation and its ecological scope are all important criteria that will make or break your brand.
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