Even bigger than the baby boomers, there are more than 92 million millennials living in the United States today. They grew up in a digital world, paving the way for future and current generations to learn more about how we use smartphones, computers, and social media channels to interact with each other. Brands have since hustled to understand the best way to reach buyers in a completely online environment, but our recent whitepaper, “Millennials: Where they shop, How they shop, Why it matters,” found that despite growth in online shopping over the years, 50 percent of millennials actually prefer to shop in a store, especially if they like a good bargain.
Brands may be missing a critical opportunity to reach the largest demographic the U.S. has ever seen. A large part of this is because widespread rumors in the retail industry have described desolate malls and brick-and-mortar closures nationwide. Further, this generation is far more likely to use the Internet to research, with 84 percent of millennials using social media to research purchases before they make them. This doesn’t mean that brands should abandon digital strategies, but it does mean that an omnichannel shopping experience is more fundamental than ever.
One way to create an effective omnichannel strategy includes synchronizing the customer experience across all sales channels by unifying in-store and online data. With a consistent view of customers who are researching and shopping online or in store, brands can get a 360-view of each consumer ensuring the most seamless experience regardless of where an item was purchased. As an added bonus, a uniform structure enables brands to collect vital insights about consumers, and then communicate with them in a personalized way based on those unique buying behaviors. Marketers can encourage in-store shoppers to make purchases online, and also send online shoppers to the brick-and-mortar location.
Our survey found two key reasons that millennial consumers stop surfing the net and travel to a store. Fifty-seven percent of shoppers in-store said they had a specific goal in mind, like shopping for a pair of white sneakers, or they wanted a good sale. For brands, this means personalized interactions — such as an email trigger linked with a special coupon code after abandoning a shopping cart online — can bring consumers in the door to finalize a purchase.
Consumer behaviors can change from year-to-year, and using a behavioral marketing platform like SmarterHQ equips brands with actionable data that drives increased revenue. For example, Bloomingdale’s saw a 50 percent increase in revenue driven by email campaigns, and they collected five times more email addresses than prior modals.
Interested in learning more about how your brand can achieve phenomenal revenue increases with behavioral marketing? Schedule a demo with our team today!