How to Adapt Marketing Strategies to Millennial Consumers
A great example of an advertising campaign that had an opportunity to change the way the millennial audience was targeted is Old Spice’s “The man your man could smell like”. Old Spice, the company that started in 1937, was the biggest name in male grooming products for over 70 years with the famous tagline: “Men wear Old Spice because women like it.”
Why having a strategy to target millennial consumer is crucial for your business
Old Spice's marketing was simple yet effective until they hit millennials. It was hard to get millennials to buy Old Spice because of competition for Axe, Suave, and Dove for men, and it was seen as an old man’s cologne. This was a huge problem for the brand and profit so they took a risk and did some unthinkable at the time. Old Spice launched a targeted marketing campaign to sell male Old Spice products to women. Imagine being the CEO of Old Spice and hearing your marketing department say that. I’d tell them to pack their bags! However, there was a reason for the madness.
Recently Old Spices parent company PNG research division discovered a surprising statistic. 60% of men’s body wash were brought by women! With the help of Wieden and Kennedy marketing agency, they targeted women with “The man your man could smell like” Campaign. In 1 day the commercial had 6 million views on YouTube, day 3 had 20 million, day 30 it was the most viewed advisement on YouTube. By May 2010, sales were up 65%, by July 2010, sales were up 125%! Making them number 1 in men’s body wash. They simply looked at their surroundings and adapted. That’s was happens in nature, that’s what Old Spice did, and that’s what every company and advertiser needs to so to not only survive but thrive.
Some questions and comments I hear from some marketers are: “we’ve been doing the same thing and it getting the same result so we’re not doing anything wrong.” You could be using the same targeted marketing and maybe more advanced data manipulation strategies but in our fast pace world, we always need to be improving and innovating the way we do business or we’ll fall behind. “We use more advanced data manipulation techniques for our targeted marketing campaigns so this shouldn’t affect us.” You may be using advanced data manipulation techniques but what is changing is the audience and their values. Until you change your “advanced data manipulation techniques” to include this audience, you’re leaving money on the table.
Tips to target millennial consumers
Here are some tips for your targeted marketing campaign. Don’t assume only your targeted audience wants your product. Just like the Old Spice example, there is always a hidden market for your company, you just have to find it. Don’t alienate an audience to get your target audience. I can’t tell you how many times an advertiser wanted to make fun of millennials to reach their older audience.
That could be alienating your hidden audience
No millennial will buy your product for their parent or grandparent
Not only could you offend someone but with social media, anyone could start a #boycott your company and damage your brand. Make sure you know the gender of your millennial audience.
It is harder to market to people than ever before. The medium has changed to almost exclusively online. The newer audience is so much different from the older audience to have to constantly keep learning and adapting. The completion is growing rapidly and advertising is more saturated than ever. Most importantly, marketing is a high stakes game. Your campaign has to be new, different, and edgy but one fault move and risk permanently damaging your brand forever.
Gender Marketing Segmentation is a MUST When Targeting Millenials
One tool that has helped many people in adapting their marketing strategies to target millennial consumers is NameGenderPro. With the world's largest list of 177k unique Female Male Unisex names by gender, you can create a great marketing campaign. NameGenderPro’s List was collected from publicly available government data sources in US and United Kingdom, Australia, Canada, New Zealand. Best of all, once you buy the list from NameGenderPro - you own it forever (no APIs, no hidden fees, no recurring payment).