If you were born between 1981 and 2000, you are a millennial. You are the latest ‘must win’ group with disposable income and a desire to do things a little differently. You look to the Internet using mobile technology to find solutions to problems including where to store your personal possessions. You are now part of 27% of the population.
Ignore this age group if you dare! If you do tackle the huge potential market that they represent make sure you are tech-savvy, they are! Just to challenge you even further, they don’t necessarily respond to your ‘tried and tested’ advertising and marketing format, especially using print.
The Self-store industry in the UK is well geared to win business from them, being more adept at maintaining a position on social media, but even they have to approach new sales in a different manner. So what is the secret? According to an article in ISS, ‘Inside Self-Storage’, the on-line magazine for the global self-storage market, you should consider three main issues.
Apparently, according to “Forbes” business magazine, 59 percent of Millennials would rather rent a house than buy one. They tend to settle down later in life certainly compared to previous generations. Clearly many can’t afford the deposit to buy and a great number still live with their parents. That is good news for the self-store market as their possessions in one abode may be too much for the next one (even whilst they are under the parent’s roof) and conversely they may decide to rent storage in-between one move and another. The self-storage model offers them what they need – flexibility.
This generation is seemingly sceptical of conventional advertising. This means you have to reach out through social media and utilise your own website in a more targeted manner. They respond to a casual and more authentic approach, especially if you can use humour. Be yourself, be natural and don’t push the ‘sales’ bit so heavily. If you have an on-line ad make sure you use your own staff to tell the story and not actors…they can spot them a mile away! A word of warning though, they do expect great service. They love their ‘apps’ and they communicate in a massive way through social media. In other words get it right and do what you say you do on the label…..
According to the New York Times, nearly 20% of this generation get their entertainment from the Internet. So make sure you have an on-line presence and utilise several ‘social media’ channels. Keep them updated and make sure you post several times a week. Don’t forget this generation take more notice of their mates and people their own age than they do of your conventional advertising. That means you need to encourage good reviews especially on Facebook if you are to succeed in attracting and keeping this market.