If you think marketing to millennials is a waste of time and money, maybe you’ll think differently by the time you finish reading. What are some stereotypes that you’ve heard about millennials? They’re lazy, not loyal, self-centered… the list goes on. No matter what your feelings are about millennials, they need to take a back seat to the facts.
The facts are that millennials have tremendous buying power. If your spa isn’t marketing to them, you’re losing out on what could potentially be a BIG chunk of money! According to Forbes, you could be missing out on $200 BILLION of buying power from millennials – and that’s just from social media marketing. Is it clear that you need to reach that piece of the pie? Good. Now I’m sure you’re wondering about the how behind the why.
Write Ads and Posts That Speak to Financially Wise Choices
Did you know that, according to Forbes, ⅙ of millennials between the ages of 23-37 already have $100k saved? That’s right! They are stashing money like no generation before. Why? Because they’re also earning less than their parents did at their age. They know that if they want to be taken care of later in life, they can rely on one person: themselves. Knowing this, does it change how you would market to millennials?
A word of caution: This does not mean you need to lower your prices. Simply market in a way that lets them know how your product or service will save them money in the long run. We are proactive about taking care of our bodies now so that we don’t have to be reactive in our 60s, 70s and 80s. As spas, we absolutely can and should be marketing to millennials with this in the forefront of our minds.
Align With Their Values
Millennials tend to purchase services and/or products that align with their values. So what do millennials value? They tend to value companies that support or give to companies that make a difference. According to Waste 360, 1,000 Millennials across the U.S. were interviewed. Of those thousand, 70 percent said a company’s environmental focus impacts their purchasing decisions. If you already have a product that’s eco-friendly, that means it’s time to start adding that to your branding. Use hashtags to promote your product’s sustainable practices on Instagram and Twitter.
Create an Experience They Want To Be A Part Of
If there’s one thing I have read about over and over again when it comes to millenials, it’s that they purchase experiences. They’re renting instead of buying homes. They’re Lyfting and Ubering instead of buying cars. Why? Because that money they’re saving is being used to experience life. So now the question becomes, “How do I promote my product in such a way that they can see the value in the experience?”
With spas, we tell stories! There are so many testimonials we could be getting that we don’t. Do you have groups of 2-6 girls that come in and rave about their spa day? Take advantage of that! Break out your media release form, have them sign it if willing. Ask them for a couple of quotes about the time that they had at your spa and ask them if you can snap a pic of all of them in their robes. Voila! You have an experience that a millennial will eat up!
I hope I have helped explain a little about the millennial mind. Now with a little clarity on the topic, you can make some shifts in how you sell to this market. Go out there and capture those experiences!