Digital Advertising for Retail: The Millennials Are Buying
No matter how common or convenient it is to complain about them, Millennials are vital to the success of almost every retailer. The Millennial Generation now spends a collective $600 billion a year and are the largest living generation. The digital natives are now in their high spending years between 18-35 and if retailers want to connect, they must increase their digital investments.
Forrester reports that digital media spending will total $118 billion by 2021. Digital advertising is quickly consuming more and more of the overall marketing budget. The combination of paid search, social media advertising, display advertising, online video and email marketing will account for 46% of all advertising in five years.
The retail industry may be shaky but Millennials want to spend money and are particularly loyal to brands that they love. If retailers can meet them where they are, there is a huge opportunity for growth. But as retailers invest more heavily in digital advertising, it is more important than ever before that they focus their attention on brand clarity and targeting.
Critical the success of any brand is the development of clear, specific visuals that speak to the organization’s mission, products and reputation. Retailers often don’t have the in-house talent necessary to create a deep and meaningful brand experience. Partnering with external consultants or agencies is a critical step to establish a visual brand that can be integrated into all of your marketing assets, from web properties to signage and letterhead.
Once your brand has created a visual identity, the next step is placing that brand in front of potential customers. Digital advertising, whether it is Pay Per Click (PPC) advertising, online video or email marketing, works best when it is targeted and personalized for the recipient. Companies must identify their ideal customer, detailing everything they know about their habits, background and demographics.
Digital advertising can be targeted by geography, age, platform, even household income. Each message can, and should, be tailored to the intended audience. This targeting can have a significant effect on the results of a campaign. Custom messages for each customer segment can significantly increase the efficacy of a campaign and improve the return on your marketing investment.
Whether you are a retailer just starting out in digital advertising or one looking to refresh their strategy after too many quarters of stagnant results, ADTACK can help create an engaging visual identity and bring that message to the right people, at the right time.