Screenage: Capturing millennial mindset to win the mobile race: Unnat Verma, Pizza Hut
At the Screenage Mobile Marketing Conference, MD of Pizza Hut (India Subcon) - Yum Restaurants International threw light on few consumer trends of millennials that brands can leverage
Published - 01-November-2018
There are endless possibilities for brands when it comes to harnessing mobile and millennials. But getting their attention in the first few seconds can be a daunting task. So how can brands harness the mobile opportunity to build engagement with the generation, while optimising revenue and gaining traction? Unnat Varma, Managing Director-Pizza Hut (India Subcon)- Yum Restaurants International, uncovered these questions through interesting trends at the Screenage Mobile Marketing Conference.
Varma started off on the need for brands to capture the mindset of millennials who comprise half of the working population. He said, “Compared to their previous generation (who put 35 per cent of their income on savings) millennials put only 10 per cent. So they are spending a lot more.” He talked about how the acronym IWWIWWIWI (I want what I want, when I want it) captures the mindset more accurately. “That is the generation that’s hungry, it’s here and now. They are talking about maximising experiences today. They don’t want to wait for tomorrow. This is the start.”
He captured six ‘mega’ trends that are relevant to the business. The first, he shared, was ‘life on demand.’ There is a lot of on-demand that’s happening today from entertainment, transport and education to services (like plumbing, carpentry and cleaning services). “Everything is an app right now,” he pointed out. He also mentioned that how brands can leverage the ‘awesome’ power of social media platforms like Whatsapp beyond just a messaging tool.
The second one was social validation on how brands can utilise ‘user-generated content’ the experiences of customers on social media platforms to their advantage. He shared an example of how brand used food which is one of the popular subjects on Instagram to connect with their consumer.
The other four he shed light on was power of sharing economy ‘access: not ownership,’ ease and power of voice ‘Voice verses text,’ virtual reality from the perspective of customer’s experience (‘to transform engagement,’ and convenience of hyperlocality in the form of ‘near me opportunities.’
“If your listings, data and user preferences are right, data suggests that 50 per cent of searches convert into purchase in first 24 hours. Isn’t that powerful? As brands can we look at this particular aspect and try and see how can we become more important?” Varma asked.
Varma also shared how the brand of Pizza Hut (which is built on physical outlets) went through a ‘massive’ transformation from ‘special occasion’ place to an ‘everyday’ brand. He also talked about harnessing technology and giving their customers easy checkout experience for their digital store. He said, “So are we talking to millennials who are mobile first in their approach? So when we built our new site it was m-site first, m-app after that and site was the last priority.”