You Don’t Say

Columnist Ellen Fruchtman shares five facts about Millennial consumers so retailers understand how, when and where to reach them for bridal sales.

Michelle Graff michelle.graff@nationaljeweler.com

Ellen Fruchtman is founder and president of Fruchtman Marketing, a full-service agency headquartered in Toledo, Ohio representing independent jewelers, jewelry manufacturers and trade organizations. Reach her by email at ellen@fruchtman.com

You say you want to get more bridal business through your door, but are you taking the necessary marketing steps to get there? Look at your budget. What marketing dollars have been allocated to the digital space? Are you doing online or social marketing? Is your website device-responsive? Do you have some young and youthful staff this demographic may relate to?

First things first. I’m not a believer that you can put an entire generation in a box and speak about them as if they all had one thought; one way of looking at things. Sure there are individuals in every age group that don’t conform to the trends. But, research is research. Credible research, that is. You have to read enough of it to know somewhere along the line, you take some of it as qualified information. And so we do. The Millennial generation is broad, representing 19 to 36 year olds today. A 19 year old is thinking very differently than a 36 year old, for one thing. Their life stage is quite different. The older part of the scale is married and many have kids. The younger part of this generation is barely thinking about it. Despite the disparity, they also have many things in common.

Let’s compare what resonates with this age group and see how your marketing stacks up.

1. The bulk of this group has witnessed the financial crisis; lack of jobs and enormous college debt.
Have you broadened your inventory to include lower-price bridal? Are you addressing layaway or providing attractive financing options? Are you entering price into the sales conversation early? Price is the number one concern for millennial men.

2. They don't remember a world without the Internet or Google or smartphones.
Are you transparent about your inventory pricing? Can they see that pricing online? Not starting-at prices, the actual price. They are searching and are one of the most savvy shopping groups (if not the savviest) you have ever come in contact with. Do you have a diamond search that rivals Blue Nile’s? This group is informed. And they don’t make any buying decisions before the search. It would be nice if they got that information from you. By the way, they will know if a sale isn’t really a sale, so no phony promotions or discounting.

3. They like to share, but that doesn't necessarily

Banner will be right here …

equate to them purchasing anything from your store.
If you run contests and promotions (be it on Facebook or through traditional media), they’ll jump on board. After all, a deal is a deal and they are pretty frugal with their money. Post some cute copy on Facebook and they might give you the proverbial thumbs up. This may build your fan base, but it might not build your coffers. And after all, isn’t that the ultimate goal? Think of it as lots of acquaintances, but when push comes to shove, you really only have a few friends.

4. Online is second nature.
The bulk may not be purchasing engagement rings online (yet), but they are looking at lower price points they can order with a quick click. Is your website easy to navigate? Can they search by style, brand and price? Have you developed a site that can easily add a shopping cart? By the way, if you do sell online, do you offer an easy-to-pay service like PayPal? Since this age group is searching for products on a mobile device, is your online experience mobile friendly? Can they easily email the product and share? Post relevant and engaging content on your Facebook page; try not to post more than two to three times per week (annoy and they will hide you from their feed).

5. Although online is second nature, they still want to have a great experience if and when they walk in the door. And they are ready to talk about it.
This group has nothing but options at their fingertips. I know you “think” your store is doing great things, but for this generation we are talking over the top. Take some time to look around your store; look at procedures; look at service offerings and inventory; take a hard look at your staff. Are you sure you can’t do better? When it comes time to buy new product, you better have a fully educated staff to speak about the product. Your sales staff must be prepared to provide sound reasoning; factual information. In other words, really know their stuff. If the experience is great, they will be the first to shout if from the rooftops (or Facebook, Google Reviews, Yelp). Unfortunately, if you don’t meet their expectations, they'll turn to those channels and their posts can be pretty unflattering.

Your media mix.
I alluded to this in my first paragraph--what is the percentage you are spending online as a part of your overall media budget? Are you dabbling or do you fully understand digital should be a primary media choice? ATTENTION BRANDS: Please stop placing your ads in bridal magazines. NEWS FLASH: The people who subscribe are predominantly engaged! Please tell me you’re not paying for retailer tags with your name in 10-point typeface.

If you want to reach Millennials, think about reaching them on multiple platforms. They are still watching TV (very specific programs), but they’re searching the web at the same time. If you’re trying to reach the bridal market, you should have a heavy digital focus in targeted Facebook advertising, paid search, banner ads and re-targeting.

Television should be in your plan and you should be looking at Pandora Internet radio (perhaps as much or more than traditional, local radio stations). If you’re a retailer with your bridal business hovering around 35 percent, than your overall budget spend should be around 35 percent in the areas I spoke of above. Want it to increase? Increase the percentages and spending dollars.

It’s not enough to say you want to drive more bridal in the store. You have to understand who you’re marketing to; what this group is interested in and thinking; where they are at; and then develop creative and an overall strategic plan to reach them.

Say … what a novel idea.

Ellen Fruchtman is founder and president of Fruchtman Marketing, a full-service agency specializing in the jewelry industry. Fruchtman Marketing, represents independent jewelers across the county along with jewelry manufacturers, jewelry designers and trade organizations throughout the U.S and Canada. Contact Ellen Fruchtman at 1-800-481-3520 or at ellen@fruchtman.com. You can sign up for a free weekly marketing newsletter at fruchtman.com.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.