Are your buyers getting younger? If you’ve been in the promotional product business long at all, the answer is quite likely a resounding “Yes.” As your customers make changes in purchasing responsibilities, it’s increasingly likely that you’ll be selling to Millennials and, more importantly, the unique consumer product sensibilities that they bring with them. You’ll want to make sure you know how to position your product to make the best connection.
First, know that your Millennial buyers don’t believe you, especially if you’re using traditional advertising tools to reach them. Just one percent of Millennials say advertising makes them trust a brand more. If you’re a master of spin and lack authenticity, prepare to be tuned out just as quickly as they tune out the commercials on their DVR at home. Assuming they haven’t already cut that cord. 43% of Millennials value authenticity over content. Be real, dude.
Next, you need to be social, and I don’t mean “let’s do lunch” as a first point of contact—social networks are where it’s at. For their own consumer products, 62% of Millennials are more likely to become a loyal customer if their brands are engaging to and with them on social networks. That bias carries over to their work in promo purchasing. They use social channels as discovery vehicles, to ask questions, solicit input from peers, and also as customer service channels. If you’re not participating, it’s obvious. And to a Millennial buyer, not cool. Extra credit if your content is mobile-friendly, a hefty 87% of Millennials use two or more devices every day to access the web.
If this seems like a lot of work, consider it a way to potentially improve your go-to-market strategy. In addition to marketing and communication preferences, Millennials have some distinct consumer attributes that are important for you to know. GlobeScan CSR and sustainability expert Eric Whan defines Millennials as “aspirational consumers”— or "materialists who believe they have a responsibility to purchase products that are good for the environment and society." As you look at your product catalog, how many items featured fit that description? Three-fourths of these younger, more responsible buyers say they are willing to pay more for sustainably sourced products. Have you researched the corporate responsibility reporting from your key suppliers? Perhaps you should. In 2011, only 20% of S&P 500 corporations published their CSR position. Five years later, over 80% published sustainability reports. If your supplier isn’t transparent with this information, what does that say about them and, by association, you? Market demand and brand preference continues to shift toward manufacturers that put environmental responsibility and social consciousness front and center, which forces their competitors to toe the line, as well.
Finally, take a stand on something. Look inward to ascertain your company’s value propositions and integrate those values and ethical stances into your overall communication and positioning strategies. These buyers care about what you care about—they want to know what’s important to you and what matters to your company. Your position on social causes, an employee-friendly workplace, corporate ethics, and respect for the environment is important to your new generation of customers. If your company doesn’t have something to stand for, it can really backfire. Almost 90% of Americans reported they would stop buying a company’s products if they found them to be irresponsible in manufacturing or deceptive in marketing. It’s just a fact you’ll need to get used to—this new generation of buyers is more empathetic about the products they buy and quick to use social media to share their opinions with their peers. What will they be saying about you?
Jeff Jacobs has been an expert in building brands and brand stewardship for 40 years, working in commercial television, Hollywood film and home video, publishing, and promotional brand merchandise. He’s a staunch advocate of consumer product safety and has a deep passion and belief regarding the issues surrounding compliance and corporate social responsibility. He retired as executive director of Quality Certification Alliance, the only non-profit dedicated to helping suppliers provide safe and compliant promotional products. Before that, he was director of brand merchandise for Michelin. You can find him volunteering as a Guardian ad Litem, traveling the world with his lovely wife, or enjoying a cigar at his favorite local cigar shop. Connect with Jeff on Twitter, LinkedIn, or Instagram, or reach out to him at jacobs.jeffreyp@gmail.com.