Millennial Marketing

Offer value and exclusivity to resonate with this group, says Michael Wood of research firm TRU. Residential Lighting: How do you define Millennials? Michael Wood:  Millennials – 77 million at last count – were born between roughly 1980 and 2000. Technology, specifically the Internet, is part of their daily life. Theyre diversity – positive, seeking out different individuals to include in their closest friendship groups. Theyre close to their parents and often see them as peers.

RL: How do you appeal to them?
MW: Value. Theres no stigma with discount stores; they believe its smart to shop those stores. Theyre into immediate gratification. They want to buy it, take it home and use it that night. To order and wait four to six weeks for delivery seems a lifetime.
They also do their homework. They might use a showroom as a place to try things out and then go someplace else to find the same product at a lower price. Theyre incredibly comfortable with shopping online. Give them a reason to come to the showroom.
Embrace social media. They expect you to be there. You cant expect them to come to your website if they have questions. They expect to find answers through social media like Facebook. So, come up with a social media offering that gets and keeps their attention.RL: Whats the wrong way?
MW: Ignoring them. They have incredible power in direct spending and influence over family spending. Another common mistake is when marketers try to be something theyre not. Just be yourself, unashamed of who you are as a company or brand. You dont have to be this young, hip, cool brand in order to connect with Millennials.

RL: What resonates with them?
MW: Recognizing occasions in their lives: going off to college, getting your own room for the first time, graduating from high school or college, getting your first apartment, buying your first home, setting up shop, your first job. Focus on those occasions.

RL: What about sustainability?
MW: As long as you can 100 percent back up those claims. If its roughly the same product at roughly the same cost, and one is green and one is not, they might tip toward the green. But, theyre unwilling to sacrifice on value, convenience and appearance. And they wont pay more for those products.

RL: What will they pay more for?
MW: One – stop shop, innovation, newness, limited editions, exclusives, ease and convenience. If a purchase puts them in a club with future benefits, that gets their attention. “They know who I am and will let me know about limited editions, events and sales.”

RL: Do they want help or prefer to coordinate product themselves?
MW: Both. Help them put it together, but give them some choice within that set. So not cookie – cutter, but a suggested suite of options.

RL: Who appeals to Millennials?
MW: West Elm, Pottery Barn, Design Within Reach, IKEA. They offer a contemporary feel. Some offerings are planted in traditional design, but it all feels fresh, modern and real clean.

RL: Any final thoughts?
MW: Recognize their interest in repurposing items. Its the idea of shopping vintage stores and flea markets – for a desk that can also be a dining room table, for example. Multipurpose items are the direction. Millennials dont want to be limited by a dining room set that they buy and only use occasionally. They dont get that.