Millennials – Put a Ring On It

July 13th, 2015 by

The Diamond Industry is concerned that Millennials might not be spending their hard-earned dollars on diamonds. They are worried that they are buying other luxury products instead.

Stephen Lussier, marketing director of De Beers Diamonds explained. While Millennials are no less interested in love than the generation before, we need to make sure that they continue to see diamonds as the expression for that”.

To that end, the Diamond Producers Association will target its 3-year, $18 million advertising budget towards Millennials. They haven’t chosen an agency yet. But, since the association is committed to success, I’d like to throw Direct Mail’s hat into the marketing ring. That’s because direct mail is so well suited for marketing luxury items.

A couple of reasons why:

  • Direct Mail allows for micro-targeting affluent households with a fine-tuned mailing list. This enables the use of synchographics (market timing) and supports personalization.
  • A well-though out, fabulous direct mail piece should be printed on quality paper. This will convey opulence, luxury, indulgence, extravagance, beauty and romance.
  • Millennials are a strong direct mail market. They prefer to receive special offers via direct mail rather than in their cluttered inboxes.
  • Ability to measure –direct mail has the power of data behind it.
  • When it comes to luxury items, direct mail delivers ROI like no other marketing medium

If the Diamond Producers Association truly wants to win over the Millennial generation, then they need to make sure they include direct mail in the marketing mix.

Are you marketing to Millennials? Here are some great articles to read.

I want to share a few more tidbits about this cohort with you.

Characteristics of the millennial generation

  • Values meaningful motivation.
  • Challenges the hierarchy status-quo.
  • Places importance on relationships with superiors.
  • Intuitive knowledge of technology.
  • Open and adaptive to change.
  • Places importance on tasks rather than time.
  • Passion for learning.

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