Versace Beer’s target market is Generation Y, the market segment including young adults from ages 21 years old to 29 years old, also known as Millennials. The consumers of Generation Y are enrolled in college, having just graduated college and are possibly entering the workforce. Generation Y is very adept with technology and it is imperative that companies adapt to this particular segment’s preferences and attitudes. Generation Y wants constant stimulation from brands, such as immediate feedback and recognition.
Millennials are a social bunch and it would do well for Versace Beer to engage in social media outreach with millennials and create an open form of dialogue about the process itself. For example, according to social media analysis of beer trends by Mintel Oxygen, online discussions about beer see beer not just as a beverage, but as an occasion. The occasion of beer drinking and the social elements of drinking can contribute to the overall drinking experience. Versace Beer can use its social media outlets in order to create dialogue with consumers, especially since Millennials are very social media and technology savvy. Versace Beer can consistently engage with this group and learn more about them by asking questions such as when they drink beer, why they drink it, etc. Mintel reports show that online behaviors are pretty much second nature and it would do well for Versace Beer to capitalize on this kind of behavior. However, Generation Y feels that brands that do not make an effort to communicate with their consumers are “outdated and undesirable” (2014). In trying to engage with these consumers online, it can come across—especially if more matured aged people are taking the social media reigns—that it comes off as inauthentic or “trying too hard” to relate to the younger age group. Bridging this generational gap via advertising and promotional efforts could likely be left up to an employee or intern for Versace Beer that is already in that wide age range of the Millennial target market.
Even with their social media knowledge and savoir-faire of most, if not all, things tech, Millennials want their advertising to feel like an experience. 45% reported in a Mintel Oxygen survey that they want advertising to be engaging and fun without actually feeling like an advertisement. Recalling that beer drinking is part of an experience for Millennials, advertising can come in the form framing Versace Beer around a social event, like a group of friends going to a bar following a long and strenuous work day (a nod to the Millennials that have graduated and are now a part of the work force), or even a simple relaxing evening at home with that same group of friends, still reinforcing the social aspect of beer drinking. However, Millennials also perceive advertising as manipulative, coercive in making unnecessary purchases and are generally overwhelmed by the number of ads seen daily. In spite of this, they never forget that ads look to sell and if companies are sincere in their efforts to be relatable, Millennials will set their cynicism aside.
Finally, Versace Beer can capitalize on the current “foodie” culture. Pairing beer with delicious food is something that Millennials are prone to doing, with over half of them identifying as “foodies.” Instagram and Snapchat are littered with pictures and even videos of foods and the social experience of eating out. Versace Beer could produce beer that boosts its role as a complement to a meal and also partner with local restaurants and eateries for food and drink pairing events, bringing foodie culture and beer drinkers together for the ultimate social experience. At these establishments, Versace Beer can offer a complementary beer as a means of “social sampling,” provided that the customer “checks in” via FourSquare, Facebook or Instagram, using social media to bring traffic to the partner restaurant/eatery, understanding how Millennials use social media and creating brand awareness of Versace Beer.
- Mintel Oxygen (2016) Beer – US (market research report). http://academic.minteloxygen.com/
- Mintel Oxygen (2016) Marketing to Millennials – US (market research report). http://academic.minteloxygen.com/
