They are two close concepts, which have a lot in common, and are sometimes confusing: age and generation. Traditionally, age comes to mind first as a basis for marketing decisions and marketing strategies. In fact, brand and product managers often consider age as a way to segment the market, often along with other demographic factors such as gender or place of residence. This perspective is as obvious as it is inescapable. I’m sure your company has thought about it too, right? Don’t worry, possibly every B2C company has done it.
However, recent studies conclude that age is now irrelevant for segmenting mature markets. They argue that this criterion is less useful than it appears. They invite companies to take a more nuanced view, with a new lens, and include new segmentation perspectives when using it in marketing strategies.
So has the ice cream brand Häagen-Dazs… Do you want to know its latest campaign?
Häagen-Dazs as a case study
These extremely creamy ice creams have been positioned for years as a luxury product. In fact, they bet in their campaigns on the glamour, elegance and seduction of famous actors or very attractive women who were practically unattainable for the vast majority of society. But this image they projected has not been as beneficial as they had hoped. While it has brought them visibility, it has also led to a drop in sales Why? Possibly because they have focused on a select audience and have turned their backs on the new generations, the millennials.
Häagen-Dazs has made a 180-degree turn in its advertising strategy, leaving behind that more select public and approaching a new generation with a renewed, fresher and more fun image. Its new claim: “Everyday Made Extraordinary”.
This ad, with an international presence, has all the characteristics to turn the brand into a new consumer icon. Come Get it Bae, by American funk singer Pharrell Williams, has set the tone for this new image. The song features uncredited vocals by Miley Cyprus and Tori Kelly, authentic references of the millennial generation.
Adapt to millennials
Millennials are the generation with the greatest buying influence in today’s global marketplace and are a real headache for traditional companies. Is this your case? Don’t worry, here are four simple and basic tips to better understand them and adapt your new marketing strategy to them.
They are highly connected and love technology
A survey of more than 12,000 millennials conducted by Telefónica in 27 countries showed that this generation is “connected” an average of six hours a day. Pew’s parallel research determined that 80% of millennials sleep with their phone and more than 75% have created a profile on social networks, whether Facebook, Twitter, Instagram, LinkedIn…
According to figures from Covepres (Confederación de Vendedores de Prensa de España), more than 5,000 kiosks have disappeared in the last 12 years; and La Vanguardia confesses that within 10 to 20 years paper newspapers will disappear completely. Are you surprised? Behind this trend, indeed, are the millennials. In fact, 59% of them cite the Internet as their main source of news and information.
They are motivated by social causes
This generation has been very receptive to “cause marketing.” They are more likely to consume products that advocate a cause that is meaningful to them (be it environmental, poverty-related…). Companies such as Toms, shoes, or Warby Parker, eyewear, are great examples of “buy one, give one” philosophy that appeals to millennial consumers.
They are fans of experiences
They are looking for added value, to feel. They prefer to invest their money in experiences, rather than in material belongings . Make them experience something special, something they will remember for the rest of their lives or something that provokes such intense emotions that they decide to share it on social networks.
You already know, you must go beyond the date of birth and the perspective of chronological age. Follow Hagen Dasz’s example and, you know the saying, if you can’t beat your enemy, join him. Design a good strategy to capture their attention, take into account new technologies and, above all, enhance your branding in social networks, attract them to your product with a good story, make them feel, make them feel excited. Get to know them in depth and become a reference for them.