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Tap into Millennials’ Savings Mindset with Insight from Valassis Data

Valassis, a leader in intelligent media delivery, shares tips for marketers and millennials, keeping in mind this consumer segment’s unique preferences and need for a budget-conscious lifestyle upon graduation.

College graduates are often faced with a new set of financial responsibilities as they prepare to enter the workforce, including rent, utilities and student loans, for starters. For those who are accustomed to convenient amenities in their dorm rooms and dining halls, new tasks like weekly grocery shopping and home maintenance may have a significant impact on their bank accounts.

“As college graduates embark on life’s next adventure, they will inevitably establish new shopping and eating habits,” said Curtis Tingle, chief marketing officer, Valassis. “Marketers have an opportunity to spark new relationships with these young consumers by encouraging them to try a product or visit a local store through relevant offers as a first step. Millennials are known for their tech-savvy mindset, but as research has shown, they aren’t exclusively reachable via digital channels – print strategies still play a key part in influencing their path to purchase.”

For marketers who want to reach millennials as they transition to post-college adulthood, Valassis provides the following insights:

  • Offer coupons online and offline. Marketers should ensure a robust, integrated strategy is in place, as 94 percent of millennials use coupons when purchasing consumer packaged goods. Keep in mind that 91 percent of millennials use paper coupons – received in the mail, newspaper, in store or printed from a computer – and 89 percent use paperless discounts, via their smartphone or downloaded to a loyalty card.
  • Activate via mobile. Mobile is obviously critical to any strong marketing plan as consumers – especially millennials – spend more time on their devices. Through use of location-based targeting, local businesses in the restaurant, entertainment, retail and beauty industries – among others – can offer convenient, relevant messages and deals that reach and activate consumers at the right time.
  • Don’t let your loyalty strategy be an afterthought. It’s important to retain your existing customer base, as it costs five times as much to attract a new customer than to keep an existing one. Loyalty programs can keep customers coming back, as proven by The 2016 Bond Loyalty Report, which cites that 81 percent of consumers are more likely to frequent a business that has a loyalty program and 73 percent would recommend brands with good loyalty programs. See Valassis’ tips on driving brand loyalty for lasting customer relationships: Top 10 Loyalty & Local Marketing Practices.

For new graduates who wish to keep their finances in check as they plan for the future, Valassis offers the following savings tips:

  • Snip and print coupons. Look for RedPlum® deals and coupons in your mailbox or newspaper, or if you prefer to browse for coupons online, visit www.redplum.com to print coupons at your leisure.
  • Download savings apps. Use mobile apps from your favorite takeout spot or retailer to save big. They’re not only convenient but also save you time with features like order-ahead; exclusive offers are typically available as well. A savings app such as RetailMeNot gives consumers access to thousands of deals to stores and restaurants. When opted into location sharing, the RetailMeNot app offers deals when you are in the vicinity of the store or mall location. You can also use apps like Local Flavor to see special local offers, which may inspire you to try out a new spot at a significant discount!
  • Join loyalty programs. For the places you regularly shop, sign up for the loyalty programs available to you and quickly earn points to save. These programs can include special offers as well, so don’t miss out on the chance to save on products you’re already buying!

About Valassis

Valassis is a leader in intelligent media delivery, providing over 58,000 clients with innovative media solutions to influence consumers wherever they plan, shop, buy and share. By integrating online and offline data combined with powerful insights, Valassis precisely targets its clients’ most valuable shoppers, offering unparalleled reach and scale. NCH Marketing Services, Inc. and Clipper Magazine are Valassis subsidiaries, and RedPlum® is its consumer brand. Its signature Have You Seen Me?® program delivers hope to missing children and their families. Valassis is a wholly owned subsidiary of Harland Clarke Holdings.

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