Millennials are killing CPG brands.
No, not really. This particular generation has been accused of killing everything from dining out to diamonds, so it only seems logical to blame them for killing off consumer packaged goods. The truth, however, is that Millennials don’t have a thing to do with the death of any industry or brand. In fact, they’re more likely to be brand loyal.
That loyalty can really pay off, as Millennials will spend $65 billion on consumer packaged goods over the next decade. As a CPG brand, you actually can count Millennials among your most loyal customers, if you know what they’re looking for.
Be Authentic
Look: Your advertising doesn’t matter one bit to Millennials. In fact, 1% of them say ads make them trust a brand more. What do they trust? Brands they feel are authentic. Millennials are savvy buyers, and they can tell when you’re exaggerating, using smoke and mirrors, or just plain pandering.
Use your content and social channels to connect. Share stories, engage with buyers, and above all, answer their questions. Provide honest answers, even if you aren’t sure that’s what they want to hear, because it always is what they want to hear—the truth.
Find Influencers
If you haven’t noticed yet, Millennials aren’t really listening to you when you say your brand is best. If you want to reach Millennials with your CPG brand, word of mouth is still the #1 way to market, and word of mouth these days means influencers.
Yes, influencers have had some dings to their reputations in the past, with the Fyre Festival debacle still ringing in marketers’ minds. This doesn’t change the fact that 50% of Millennials prefer user-generated content. That’s why you should avoid celebrity endorsements and instead go for the niche influencers within your exact industry. In fact, smaller, specific audiences are more likely to result in higher engagement.
Get Social
When you engage with Millennial buyers on social networks, 62% of them say they’re more likely to become loyal customers. Just keep in mind that you don’t need to be everywhere on social media to reach this generation. You just need to be where they are.
Understanding your buyer personas is key to determining where your audience lives on social media. For instance, Millennials are more likely to share content on Facebook than any other platform. However, 53% of Instagram users follow brands as well as people. Pinterest is where 80% of Millennials say they use Pinterest to decide things they want to buy. Then there’s YouTube, which reaches more Generation Z, Millennial, and Generation X buyers than any cable network.
Go Omnichannel
Millennials love their technology, and they use it all the time. In fact, 87% use two to three devices on a daily basis, with another 30% using wearable tech. Relying on just a website or your placement in the supermarket just isn’t enough anymore. If you want buyers to find you, you have to be wherever they are.
This includes mobile-friendly sites, discount and coupon apps for mobile devices and wearables, and ecommerce. To reach Millennials with your CPG brand, you want to make sure buyers can access your products whenever, wherever, which means you must be omnichannel.
Prove Your Noble Edge
When your brand engages in social goodwill, Millennials are intrigued. They want to change the world, to make it better, and they’re more likely to get behind brands that share their passion for the cause.
Some excellent examples of companies that have a noble edge include Warby Parker, which donates eyeglasses to less fortunate; TOMS Shoes, which make the “buy one, give one” model famous; KIND Snacks, with their KIND Foundation; and Patagonia, with their commitment to saving the planet.
Involve Them
Did you know that 42% of Millennials are interested in helping brands develop new products? They don’t want you marketing to them or testing your ideas on them. They want to get involved.
Find ways to let this generation get in on the action, whether you hold a contest for new ideas or bring them into the fold for special products. Limited edition products that come straight from the customers’ minds could be what you need to inspire the loyalty you feel your brand is missing out on.
If you’re still struggling to reach Millennials with your CPG brand, give us a call. We’re always here to help.
