For FMCG marketers, millennials are gold medal consumers. Whether this demographic works in on-trade jobs or off-trade jobs, they typically have fewer financial obligations and more spending power. And with 45% of millennials admitting brands have a significant role in their lives, FMCG companies should be taking note what this age group want.
Quality is important to millennials and they are prepared to pay for premium products – but only once the credentials of the brand has been validated. And this is where millennials hold sway over brands.
The millennial age group are particularly vociferous about brands on social media. They are happy to share content and recommend brands they admire with their friends. Conversely, they will also expose brands that fail to deliver on brand promise or provide a poor customer service.
According to Deloitte, 85% of millennials in the UK own smartphones and with an estimated 42 million users on social media platforms, millennials have a significant amount of influence over the purchasing decision of their peers. With 88% of customers saying they trust peer-to-peer recommendations, brands can capitalise on social proof by connecting with customers across multiple touchpoints.
The Millennials Choice Survey published in The Drum reveal some of the brands millennials favour, and the reasons why this age group follow these brands. These are the types of jobs FMCG’s should be looking to incorporate in marketing campaigns.
A company’s standing in the public eye is a major contributing factor for millennials on a number of levels. This demographic value brands that own their actions and communicate with customers on a personal level.
Marketers that work in FMCG jobs should look to visually engaging platforms. The type of content you produce should be useful and entertaining such as how-to guides, listicles, product-focused, customer testimonials, behind-the-scenes and user-generated content.
Urban Outfitters have nailed visual content on Instagram by creating content their customers can relate to.
The key is to build a brand reputation. Millennials that work in off-trade jobs expect brands to deliver on their promise and provide customers with a satisfactory experience the nurtures trust.
Uber may be receiving bad press in political circles and mainstream media for being unethical, but millennials love them. The ride-sharing app increased their millennial customer base by 8.2% last year. Why? Because customers know they can trust Uber to provide a good service for a better price.
Millennials care about people and the planet and feel it is important for brands to show social responsibility. Over 90 per cent of consumers veer towards brands that are associated with a good cause.
What’s more, Nielsen report 66% of consumers are willing to spend more on a product if the brand are actively engaged in sustainability and giving back to the community. Brands that neglect ethical practices on the other hand are abandoned.
Cadbury consistently win over millennials with brand reputation, but reinforce their social standing with promotions that underscore their sense of social ethics such as the ‘Adopt a Cow’ campaign with Buttons.
Modern consumers demand memorable experiences from brands. They want casual relationships, two-way conversations, a relaxed ambience, convenience and flexibility. It is critically important to build relationships with millennial customers and cater to the individual.
Furthermore, there are no other age groups that shout about their experience and share content with their online and offline communities than millennials. They also want to be co-creators, so identify your brand ambassadors and encourage them to publish user-generated content across their social networks.
Brands that provide customers with a memorable experience have more success building a loyal customer base – and loyal customers are five times more likely to repurchase and five times as more likely to forgive mistakes.
Drinks marketing managers are finding innovative ways to provide customers with an experience that will make them remember their brand when they walk into a bar. To get millennials on your side, FMCG businesses need to appeal to the sensibilities of people that work in the industry.
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