Marketing Housing to Millennials? Product Info as Key

No doubt, you've run across an article or two (maybe twenty??) about marketing to Millennials.  Sometimes referred to as Generation Y or the Echo Boomers, Millennials are the demographic group following Generation X.  Born somewhere between the late 70's and early 2000's, members of this generation are known for their increased use and familiarity with communications, media and digital technologies.

CPS' interactive touchscreen: information, authenticity, quality

Although not large as the Baby Boom generation, Millennials are a significant part of today's economy -- which makes sense as they're in their prime "purchasing" years.  As a result, all sorts of marketing types are joining Millennial parents in trying to determine what influences their decisions! 

Pamela Marsh and Erin Bilezikjian-Johnson (referred to as M and BJ hereinafter) were interviewed for an Advertising Age article regarding Millennial "shopping habits." There were several interesting comments that are worth considering if you are related to a homebuilder or multifamily marketing team.  Then, it might be worth evaluating how your marketing approach meets the Millennial's "shopping" process.

First, M and BJ note there is the myth of Millennial "impulsiveness" regarding decisions.  Their analysis suggests the reverse, "Millennials spend time and effort researching products and services."  Millennials read reviews, talk to people and place a tremendous amount of value in shared information, experiences and references (frequently, via social media). 

This result suggests providing information is a critical marketing objective as is encouraging sharing and making acquisition of shared experiences and materials part of your marketing process. 

Second, look back to the first comment and revisit the concept of shared: Millennials "helicopter" each other; they tell stories about their experiences, provide details about prices and  highlight both good and bad purchases.  And, most of the time, they're using technology to helicopter.

This suggests facilitating stories is a great marketing process -- visually encouraginh your prospects and buyers to re-visit your sales/leasing centers, providing a "gathering" piece of technology such as a touchscreen to encourage conversation about the experience of living there and making purchases, and making sure you've maximized your social media presence in terms of story-telling.

Finally, even though Millennials are very tech-savvy, they're open to having relationships with brands.  However, the brand needs to meet several key criteria, according to M and BJ, including authenticity, affordability and quality.

How are you demonstrating these Millennial-critical qualities in your marketing program?  Take a look at the Whole Foods Market Customer Comment Board (above); they're using an interactive touchscreen system to solicit comments, provide a calendar of events and display the week's current specials (that's authenticity, affordability and quality -- at a touch!).