While a number of people are saying that Millennials won’t really start making a large impact on the wine market until 2019 or thereabouts them, as the oldest of them are moving into their late 30s, it’s not too early to start courting them now.
Of course, the most important thing is to know how to reach them effectively. I found some interesting ideas on this topic in an article by Dave Hawley, VP Marketing for SocialChorus, on Entrepreneur.com. Mr. Hawley states that by 2020 Millennials will be involved in 30% of all retail purchases and comprise 50% of the workforce.
Some of Mr. Hawley’s points remind us that just 6% of Millennials who participated in a 2013 SocialChorus survey said they find online advertisements credible. However, they do share experiences online. “…Millennials are typically on social media constantly and feel driven to share experiences with their friends in real time.” If they feel positively about your company’s brand they will share it with their friends.
Another of the salient points in this article is that Millennials trust their friends. In fact, 91% of Millennials surveyed by SocialChorus said they would consider buying a product if a friend recommended it. While this is also true of older generations, these generations also take into consideration, advertising, reviews, to a larger extent.
Mr. Hawley encourages companies to get Millennials to serve as advocates to drive reach, awareness, engagement and sales. He encourages companies to market with Millennials rather than to them. In other words, to develop relationships with brand advocates, for instance bloggers and social media followers, then give them incentives to share the brand story and measure the impact.
Measuring the results will let you know what works and what doesn’t, and how you should proceed with your campaigns.