By Bill Schneider, VP of Product Marketing, SheerID
Everyone is talking about Gen Z, but most Gen Zers are still teenagers, whereas the entire millennial generation is at or near the peak of their purchasing power.
Marketers have poured energy and resources into capturing the loyalty and dollars of Gen Z consumers. But some of the strategies marketers have been honing for Gen Z work just as powerfully for millennials, who share notable similarities with their younger counterparts.
Three strategies developed for marketing to Gen Z that brands and retailers can use to entice millennials include leveraging authentic influencer marketing, aligning their marketing with shoppers’ values, and offering identity-based discounts.
Authentic influencer marketing
While Gen Z is the digital native generation, millennials are also tech-savvy. And millennials (aged 28-43) are largely early- to mid-career and benefiting from the expanded buying power that comes with that stage in life.
This combination of digital fluency and financial stability makes the millennial generation an ideal target for influencer marketing.
Influencers inhabit a relatable online persona to authentically demonstrate the quality and capabilities of the brands and products that sponsor them. Beyond that, influencer marketing is received in much the same way as word-of-mouth (WOM) recommendations, considering the “show and tell” nature of the format.
The most important facet of influencer campaigns is that they capitalize on an organic connection between the brand, the influencer, and the audience. For example, a campaign for the sports equipment company Brooks Running would work best if it leveraged not a random celebrity or cosmetics influencer but an influencer who has built a reputation and audience around fitness or, even better, running specifically. Then, by empowering the influencer to create the normal content to which their audience gravitates while authentically incorporating the product (without the brand prescribing exactly how the influencer creates that content), the brand will be able to enjoy the benefit of the audience’s trust.
One tactic brands employ to cater to millennials is hiring influencers from that generation. Because influencer marketing functions like a peer-to-peer WOM channel, the more shared qualities between your influencer and your target customers, the better. Not only will the millennial influencer be more relatable, but they’ll also know intimately how to create content that resonates with their contemporaries.
Another tactic is to align campaigns with millennial pain points. Because most millennials are in their 30s and 40s, marketers can assume they are concerned with their careers, burgeoning families, financial security, and aging bodies. For example, a Brooks Running influencer campaign might feature a 40-year-old runner sharing how she uses Brooks shoes to help with joint pain.
Value-based marketing
Like influencer marketing, targeting your audience based on their values is a powerful tool for fostering organic connections. This has worked very well with socially conscious Gen Z audiences, such as in the case of Sephora’s National Black Justice Coalition rewards program or this extensive list of 2024 Earth Day promotions.
Millennials, too, are known as a principled generation. They appreciate challenges to the status quo and transparent communication from institutions. Marketing materials that are cognizant of these values millennials hold, such as clothing factory tours or “how-it’s-made” demos on social media, will play into the generation’s desire for transparency and the incorporation of authentic brand values into the products they purchase.
Identity-based exclusive offers
Marketers have learned that Gen Z loves exclusive offers. They make Gen Z feel like they’re getting a good deal that’s tailored just to them, which is particularly potent for the budget-conscious generation. As millennials begin to think about saving for retirement, budgeting for a family, or trading in their 2005 sedan for a new hybrid car, they are also prime targets for offers that save them a buck or two while rewarding them for their identity or values. In fact, one study found that millennials prize exclusive offers more than any generation.
Whereas many exclusive offers for Gen Z communities center on youth-specific factors (such as student status), millennial community-based offers should be more targeted towards their specific stage in life. Consider a career-specific discount or a promotion for first-time home buyers or newlyweds.
Take, for example, Crate & Barrel’s promotion for couples who use their wedding registry services. They reward their newlywed clients with a free gift, such as a set of matching wine glasses or a stoneware cooking set. For millennials who are starting a new life with a partner or even moving into a new home together, this kind of perk garners goodwill for the Crate & Barrel brand and encourages millennials to recommend the brand to their peers.
It’s all too easy to look back on a time when Gen Z was a black box that challenged marketers to think in new ways about reaching young people. Armed with their hard-won innovations for marketing to Gen Z, marketers can now bring these innovations to other generations of young adults. With a few intentional tweaks, Gen Z marketing techniques can help refresh millennial brand loyalty programs and get products in front of even more customers with growing purchasing power.