Millennials have over $1 trillion in student loan debt. Surprisingly they are also the generation that travels more than any other, spending about $200 billion per year. And they approach traveling in unique ways. Brands that understand how to take advantage of this can see a tremendous upside in revenue.

Millennials prefer to travel with large groups of friends or family. Traveling in groups means larger accommodations are needed. Companies like Airbnb and HomeAway have made it easy to find a place that can fit a tribe, but remember – no one is there to change the bed sheets or bring fresh towels. Hostels are trending again, and hotel chains like Marriott have created brands specifically for Millennials, the AC Hotel and Moxy, infused with modern chic and a vibrant social scene where they can work and play, and rooms with the latest technology.

This group is choosing to spend more on collecting experiences than collecting things. Experiences are not found in the typical tourist traps, but rather off the beaten path. Whether it’s taking a safari, traveling the continents, going to the Olympics or visiting national parks, Millennials are looking for adventure, experiencing the local culture, and learning in the process.

Twenty-five percent to forty percent of all Millennials’ weddings take place away from home. While sunset at the beach can be beautiful, now the trend is to hold the wedding at sunrise. Honeymoons have changed as well. Couples are choosing to include multiple destinations as opposed to staying in one place and lying around.

Since Millennials are the most connected generation, it is no surprise they check out on average ten travel sites as they do their research. Travel brands like Brite Spokes have built their businesses by offering thematic trips and enriching experiences. Orbitz and Trivago allow people to find many brands’ prices and availability all in one place. Mobile apps are a must in this category.

Because this group has limited funds, they tend to do business with those brands that offer rewards. And another way to save is by combining business travel with personal vacations, what’s known as “bleisure.” Tacking on a few extra days to a business trip not only saves time, it also allows travelers to unwind and disconnect from work.

But this group very seldom disconnects from their social sites. They are into sharing, and sharing everything – from taking pictures of what they had for breakfast, to checking into a current location, to posting videos of their experiences. Not only do they read others’ reviews, they can also be an influencer as they share their own experiences.

Millennials have significant spending power and they have shown they are willing to spend for an experience. It is important to communicate with them on their own terms – with well-developed websites and apps, sharing pictures, and even using virtual reality so they can experience it vicariously. The travel industry is only going to grow – get on board!

A franchise restaurant owner wears many hats: operator, HR recruiter, accountant, and marketer – to name a few. All are important and all take time. This blog is to help make one of those areas easier, while producing business-building results for your restaurant.

Local Store Marketing or LSM – I’m sure all franchise owners have put together local marketing plans, and my guess is sometimes you’ve hit it out of the park, and other times you’ve struck out. No one cares about your restaurant’s success more than you. You are its best ambassador. Below are some key tips on how to improve your batting average and effectively market your restaurant.

Local marketing programs should never interfere with your operations because you don’t want to negatively affect the customer’s experience. Share all potential ideas with your Ops Team. They are best suited to know if the marketing program could affect speed of service or product. The cashier should be brought in as well to help determine the best way to input the promotion so you can measure it for success.

All LSM programs should start with an objective. Just because you can put an ad on something, doesn’t mean you should. What is your goal?

• Trial? Consider giving your employees 5 coupons each for a new product. Ask them to give the coupons to family and friends. Not only do your employees look like heroes, this is a quick and easy way to get trial.
• Increase frequency? Loyalty focused plans that reward people for their business typically result in increased traffic. Just remember that the rewards should be relevant and timely.
• A competitive attack plan? Thwart the new guy’s opening by focusing on your customers’ experience. Invest in a few extra hours of labor a day – in the dining room. Put your “best face” forward and make customers feel special as you refill their drink, take their trash or just ask “how’s your day going?”

Be clear about what you are trying to achieve and build your LSM program around it.

Know your trade area and those who live in it. Is your customer base made up of families? Then create a program that caters to convenience for time-starved moms. Or possibly sponsor the Little League team, because one day these girls or guys may be part of your team. Do you have lots of Millennial customers? They look for places to “hang out.” Wi-fi and snack-type food make for a win because Millennials are “clockless” eaters – “three square meals a day” really isn’t in their vocabulary.

Keep your program simple. If you can’t explain the program succinctly, chances of success are slim. Life is complicated – don’t make it hard for me to be your customer.

Connect with your guests through social media. Not only to keep them posted on what’s happening at the restaurant, but also to engage and reward by asking them to share what they like best about the restaurant. Randomly choose a winner to dine with you so you can learn even more. Customers truly will respond to brands they like.

If a marketing proposal is presented that involves partnering with another brand in the community, ask yourself:

• What do the 2 brands have in common? Same values? Same target?
• Do they complement each other?

If the answer is “no” to any of these questions – pass and pass quickly! Go Pro and Red Bull recently partnered together. These two brands make a great team because both are about going to the extreme.

Don’t be shy about asking for support from the corporate office. They may have a tool kit with some existing marketing tools that can be used or customized to meet your needs. Don’t recreate the wheel. Ask your corporate partner to review your program and how it can be better. Also ask for support from your team. They need to understand all aspects of the program and also be “all in” to help make it a success.

Local Store Marketing programs start with a strategy and require focused discipline. Start small, understand what’s working/what’s not, and then apply those learnings to your next program. LSM done correctly not only will grow sales, but also can create brand influencers whom are priceless.