Scotts Miracle Grow
- Limited product knowledge *
- 27 – 35
- Earning 50,000 + per year
- Sports enthusiast
When the 2016 earnings reports came across the desk of retailers, many were panicked, struggling to determine how to continue reaching their existing target audiences in the ways that matter. A lot of millennial bashing occurred, because frustrated companies could not understand what had changed. Instead of adjustments, judgements were made.
Not Scotts. In fact, since 2006, Scott’s reported yearly earnings have been consistently above 2.6 million in annual revenue. That is, with the exception of the period between 2014-2016 where revenue hovered around 2.5 million or lower. Scotts was not impacted quite the same way some other retailers were, but there was a clear, industry wide consensus that “reaching millennials,” was imperative. Scotts was no different. They effectively had two choices.
They could have chosen to change their formula entirely by choosing a different target. Instead, they chose to keep their existing formula, but tweaked it so that it embraced the parts which were now different. In 2015, they likely asked themselves:
- Are all our criteria for our target market still relevant?
- How are 27 year old’s different now than they were 10 years ago?
- Many grew up in an environment not prioritizing lawn care and maintenance.
It’s no secret that millennials have presented a uniquely complex set of obstacles for most retailers. After researching the parameters it had once set for itself, Scott’s understood at least one of the very distinct differences – the lack of product knowledge. Thus, they made it a point to incorporate instructional videos for all things lawn-care related, right down to the mulch calculator. As of 2019, Scotts enjoyed its record high revenue of 3.15 million for the year.