There is no denying it, as more and more Millennials join the “real world,” they are steadily changing American culture and society. Their buying power is expected to be at $200 billion annually, and depending on which industry you are in, knowing how to market to Millennials will be beneficial to your business.
This post’s title sounds like a bold statement, but the “The Number One Tip To Marketing To Millennials” is founded on researched evidence and numbers, however the reasons behind it are a conglomerate of personal experiences, insights, and good ol’ fashion research.
If you want to turn a millennial into a customer, use nostalgia.
Nostalgia marketing is heavily used by many businesses to reach the millennial audience and their numbers prove that nostalgia marketing works.
There are countless examples in the past year or so where nostalgia marketing campaign is hugely successful. I took note of the power of nostalgia when I saw how successful the Reading Rainbow crowd-funding campaign was. In only a few hours, they,managed to raise $1 million. It does not stop there, I found myself noticing a variety of companies using nostalgia to market to Millennials. Sportswear companies like Adidas, Reebok, and Nike all use nostalgia in some of their campaigns. Products are now released to evoke feeling of nostalgia; even movies are using nostalgia. It seems like for every one original screenplay movies there are six re-makes. I look at fashion trends and it seems like everything millennials are wearing are what was worn in the 90’s. Brands like Lacoste and Nautica, stores like Urban Outfitters are all doing really well due to the power of nostalgia.
Perhaps the most success product (short run perhaps) that utilized nostalgia was Nintendo/Niantic’s Pokemon Go. It broke records in terms of downloads and usage. It was all over the news and widely talked about on college campuses. They utilized nostalgia the best because they applied that to modern technology to create an application the was worth the buzz.
According to Forbes, “The best campaigns are timely and relevant but must also be authentic with a strong emotional hook to capture the heart.” This is exactly what nostalgia marketing provides, something timely, and the best nostalgia marketing campaigns are the ones that have the best “hook.”
A good example of a nostalgia marketing campaign is Target’s Star Wars: The Force Awakens commercial, in which you can see here.
So why does nostalgia marketing work so well for Millennials? It works for a variety of reasons. One of the reason is the fact that Millennials like to feel connected. This is the same reason why social media is so popular among this generation, we yearn for connectivity. Looking at things that entice nostalgia help us feel connected because we can all relate to it in one was or another.
The next, it bring us back to a better time. Millennials group up in a transitional period of pre-9/11 culture to post 9/11 culture. They somewhat remember a time when Americans were not under a conflict. They remember a time when global warming was not a global crisis. It is up to Millennials to solve all the problems that the last generation propagated. Experiencing things that entice nostalgia help us forget that fact for a little bit.
Next time you have a product where your target market is Millennials, don’t forget about the power of nostalgia marketing.