CAPTURING THE MILLENNIAL MARKET
The millennial crowd is nothing new to businesses. But are you successfully reaching this important customer base? Millennials, born in the early 1980s to early 2000s, are armed with substantial spending power. At more than 9 million, they are the largest share of Canada’s population and are not a group to overlook. In the hospitality industry, they make up a large segment to target with marketing. Here are some characteristics and behaviors to be aware of when attracting millennials to your establishment.
- Even though this group has a good amount of disposable income for dining out, they prefer restaurants with lower price points over high-end dining. Keep in mind, they do eat out frequently. This is a great opportunity to reward return visits with a loyalty program.
- Local foods and sustainable practices rank high with this generation. According to Restaurant Marketing Labs, 80% of millennials want to know more about how their food is grown.
- Whether it’s giving back to the community or using locally produced resources, millennials have a strong sense of community. Featuring fresh vegetables from a neighborhood garden resonates with this group.
- This is the most ethnically and racially diverse group in Canadian history. It makes sense that they are drawn to new cuisines. They are more apt to choose dishes rooted in ethnic recipes.
- They are paying for the experience and social interactions. So if you have a restaurant set up that’s conducive to hanging out or a unique feature (think rooftop deck), brag about it. It’s all about spending time with friends.
- And we can’t forget the huge role technology plays with millennials. To reach a millennial audience, your restaurant needs a strong social presence. And with 85% of hungry millennials visiting your restaurant website, make sure your website is optimized for smartphones. That said, you should also be updating your information frequently so that your website pops to the top in Google searches.
- A recent study shows that more than 50% of millennials spend at least three hours a day on their phones. Capture their attention on Instagram and Twitter with mouthwatering plates and special promotions. Or share a YouTube video of your pastry chef whipping up dessert.
Now that you’re armed with more info on millennials, don’t discount the effect they can have on your bottom line. Small, targeted marketing efforts can go a long way. Now go post a pic of today’s dinner special on Instagram.
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