Are Millennials the next big thing?
How to Attract Millennials with the Right Brand Positioning
If ever there was a reason to inquire about a generation, this is it:
- Millennials are the largest growing section of the population. According to the
Census Bureau, there are more Millennials than Baby Boomers
- This makes them the largest consumer group and they have increasing spending
power, despite the recent economic downturn
It is only a matter of time before their spending power matures in full.
The Millennial shift also introduces new opportunities in how to brand to maintain or achieve brand dominance. One of the keys is brand relevance. If you have not identified why Millennials should really care about your brand, you should start now. BrandIQ has tapped into what really matters to this audience for some of America’s favorite restaurant, food, and apparel brands. Regardless of the category, what really matters to Millennials is different than even Gen Y’s.
The Millennial challenge is not discovering who they are. It is not discerning what Millennials mean to your brand; the challenge is developing what your brand means to Millennials.
They are more publicly expressive of opinions and more informed at their age than any generation before them. In BrandIQ market segmentation and branding strategy work, we uncover what drives Millennials to buy and champion brands differently than other generations of consumers.
Uncover why Millennials need your brand, more than what they need in your brand.
- Develop insights and learning that taps into these self-expressive aspects of the
relationship they have with your brand.
Broaden the context of your conversation with them to be about life, not use.
- Deploy continual, responsive communication and relevant brand experiences.
Broaden the purpose of your brand to a reason, beyond the basic need state.
- The key to engaging Millennials is that they want their brands to care about them.
Focus on the big idea, remember Millennials don’t buy products, they buy meanings! Millennials love meaningful experiences.
If you do these three things, you will have leveraged one of the most important drivers of engagement with Millennials, demonstrating that your brand really cares about them. This will ensure your brand positioning is relevant to Millennials, and is an important step in solidifying your business strategy.
BrandIQ is the only brand strategy and market research firm that can take the right learning and make it relevant to solve your toughest challenges in building a brand.