What is it about looking back that makes us want to buy?
Using a sense of nostalgia to market products is nothing new in the advertising and sales worlds – but why is it particularly so effective among Millenials and Gen Z?
Nostalgia marketing utilizes childhood and other classic life moments to establish an emotional bond that connects potential customers to the past that, if done well, can lead to more sales. Millennials are the most nostalgic, with Gen Z not far behind. Gen Z grew up with technology all around them, while Millennials grew as never-seen-before technology was evolving.
While nostalgia marketing is not a new strategy, no other brand is using it more effectively than McDonald’s. McDonald’s social media and in-store promotions have been primarily marketing to millennials with its partnerships and new products. McDonald’s and Crocs partnered to sell “Golden Arches” themed Crocs. Imagine that your next fashion statement can include Croc sandals, clogs, socks and charms of the Grimace or the Hamburgler. They also launched a new chain of restaurants, CosMcs, a complete throwback to the McDonald’s menu of the 80s and 90s with a few new items. Marketing the new chain using the characters of old, Grimace, the Hamburgler and Ronald McDonald himself.
Still what makes our longing for a different time so effective for millennials and Gen Z? These two generations are the first in history projected to make less money than their parents, often working more than one job. They do share in common with all of us the rate of inflation, and the pandemic result of a desire to consume more. Either way, they seem to be longing for a time when things were less complicated. A time when the weight of adult responsibilities and everyday anxieties about the future were nonexistent. Hamburglar Crocs don’t fix the economy or inflation or the dismal state of their savings accounts but do add silliness, color and memories of childhood for the time being.
While nostalgia works for brands like McDonald’s and Netflix, how do you know when it makes sense to harness the power of nostalgia marketing when planning your advertising and social media campaigns? Gain generational insights into your target audiences. How can you bring the past into the present? Learn about their characteristics and behaviors to identify cultural memories incorporating your company history.
The best tactics are relevant, timely and authentic. They capture hearts with a call to action. “It’s essential to approach nostalgia marketing with care and thoughtfulness, as the emotion it evokes can be both powerful and complex.” Successful nostalgia marketing requires staying on top of trends and interacting with your audience.
Failure to identify generational connections to the old could be disastrous. Oscar Mayer recently ignored nostalgia as a marketing tool and it backfired. Just months after announcing that the Wienermobile was changed to the Frankmobile they reverted back to the original Kraft Heinz company name.
Get creative and think of how your business can harness the nostalgic trends using your products and services. Product partnerships are not a must, it is all about looking at the past and tying it to your business.
