The Aradius Group print, direct mail and creative blog.
With Millennials representing the highest percentage of the American population, marketers need to know how to reach them effectively. Whether it’s through direct mail, email, or social and mobile media, Millennials want to be reached on their own terms.
Millennials are defined as consumers between 18 and 34 years old. They number 83.1 million, more than the Boomer generation, and represent more than one quarter of Americans. They also represent a coveted $200 billion in annual spending.
Millennials are not only more deeply tied into digital media than previous generations, but they are more fickle as consumers. They are extremely price conscious and have high expectations for their go-to brands; their loyalty is earned, not given.
As shoppers always looking for the best deal, Millennials love loyalty programs. On behalf of Excentus, Ipsos eNation polled 1,000+ U.S. consumers to compare Millennial loyalty program preferences with those of their Generation X and Baby Boomer counterparts (“The Road to Rewards: What Drives Millennial Loyalty?”). Researchers found that Millennials are more likely to earn rewards from retail stores, oil/gas credit cards, travel programs, and professional or industry associations.
These consumers are very tech-savvy, but they respond to direct mail, too. In fact, according to data compiled by Direct Marketing News, 90% of Millennials see direct mail as reliable and 57% have made purchases based on direct mail offers. But, their love for mobile devices runs deep. One-third prefer to check their rewards status on a mobile app—twice that of Gen Xers (16%) and more than five times the rate of Baby Boomers (6%).
Because of their price-sensitivity, Millennials are more easily swayed than other generations. Excentus found that they will change where they shop, and where they dine just to save $.50 to $1.00 per gallon on gas through a rewards program.
Millennials represent tremendous buying power, and treated right, they’ll reward brands for catering to them.