Some time in May, just after we’ve recovered from the horrors of Christmas, Valentines Day and Easter advertising, the marketing world throws us into the absolute nightmare of End of Financial Year Sales pitches. For two whole months we are inundated with shouts of ‘SALE SALE SALE’ and ‘EVERYTHING MUST GO’ while microwaves, bikes, cars and coats flash across our screens in a whirlwind of undesired goods. It’s oversaturation. Even if something looked appealing, in the mess of advertising broadcast at us, it’s hard to remember what it was or where to get it.
Not to mention; where’s all this money to BUY BUY BUY coming from? While companies are busy promoting their sales in May and June, millennials are frantically completing assignments, sitting exams, earning just enough to get by and hitting ‘press to skip ad’. And yet, just around the corner, we have a windfall waiting for us.
Ah, tax time. I can almost smell the shiny plastic of impulse purchases in the air. For millennials, tax returns are basically free money. We’re not entirely certain why the money was taken (we know it wasn’t for the NBN and we hope it wasn’t to fund Bishop’s helicopter joyrides). Nor do we quite understand the maths of what we get back and why, but we’re not too hung up on the details. It’s free money!
Free money, in one delightful lump sum. Sure, some people use it for practicalities like paying off their credit cards and HECS debts, or saving for a house/car/hovercraft. But there’s no fun in that (except maybe the hovercraft). Tax time is the one time of the year when you can treat yo’ self without feeling guilty about it. And millennials do.
Last year I booked tickets to Spain with my tax return. This year, I will pay upfront for a semester of pottery classes to nab the bulk-buy discount. Inevitably I’ll stop going to in three to five weeks, but that’s Future Me’s problem. My housemate’s buying a bike. My best friend’s getting a puppy. No guilt whatsoever. We buy holidays, go on shopping sprees, upgrade our laptops, splurge on fancy dinners, even donate to charity. We spend, and spend big.
Unfortunately, by the time our tax returns hit our bank balance, EOFY sales are over and no one’s marketing to our new cashed-up sensibilities. They should be.
After June 30, we’ve done our tax returns, we’ve got some money coming in, work’s slowed down, we’re on holidays and we’re itching to reward ourselves. Not to mention, we’re not being assaulted from all sides with marketing that has almost nothing to do with us; we’re not so busy tuning out carpet commercials that we miss the good stuff. We have our money, and you have our attention.
This is not the time to sit back, relax and wait for end of season sales or Christmas before upping the marketing ante. It’s time to start selling sexy new gadgets, holidays, luxury experiences and new season fashion; it’s time to appeal to the impulsive, self-indulgent side of our nature. We’ve worked hard this Fin Year, and we want to celebrate with something a little wild and probably not technically necessary. Just think how many people would have walked away with a pair of Google Glasses (is that the plural? Or is it like fish?). Heck, just think how many more people would have bought an Apple iWatch if they had been released just after everyone was given a no-strings-attached couple hundy. If that ain’t your company’s jam, jump on the Christmas bandwagon early and advertise to the planners amongst us. They’ve probably already sorted out a colour-coded list of gifts and are itching to start ticking things off.
I’m not saying drop your Christmas/Boxing Day/EOFY sale game, but know your market. Advertise to millennials when they actually have money to spend and when they’re looking to spend it. If you really have no idea when that is, or how to go about tax return marketing, get in touch. We do. Millennials are kind of our thing.