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May 2016

MILLENNIALS – Are we reaching them right?

Continuing from where we left last…. engagement marketing with Millennials.

67 percent of Millennials reported that they use smartphones to access the Internet. That compares with 40 percent of baby boomers and just 20 percent of silents.

82 percent said that they access the Internet with laptop computers and 47 percent with tablets (up from 26 percent in 2012), both significantly higher than older generations.

37 percent of younger Millennials said that they feel as if they are “missing something” if they are not on Facebook or Twitter every day, compared with 23 percent of non-Millennials

Over half of Millennials are interested in trying new technology-enabled payment tools such as digital wallets

In all social gatherings, meetings, parties, dinners we are hooked on to our devices more than to each other

Do we marketers see this as an opportunity? And if not…it’s high time we realized the shift

Sticking to only traditional media & advertising will not help achieve our objectives. We need to be there where our audience is spending time and if we want them to engage with our brands we can’t just have a static website and a Facebook page. What we need is a digital marketing strategy that hinges on engaging them and not just sending them adverts or messages. The era of one way communication is over, it’s all about engagement now.

Toyota has recently created 100 different edits of a video specifically for social media…each targeting individual consumer segments all delivering the same message but in different styles

Get Social. Go Mobile. Go Personal. Drive Engagement

A digital marketing strategy when implemented correctly can turn millennials into our biggest advocates. Here are some important factors we should consider when developing a digital marketing strategy.

  1. Research. Identify consumer segments and online channels. It’s vital that we understand how our target consumers behave and interact online. Not all millennials are surfing the same websites and congregating on the same social media. Let’s not assume that they are on Instagram just because they’re a millennial. Their media of choice might be Snapchat, Facebook, Blab or YouTube, just to scratch the surface. There are a multitude of online channels we can utilize to reach out, and in order to reach the right consumers we need to be in the right place with the right message.
  2. Be Social. Millennials are the most tech savvy and connected generation. They interact and socialize online, so we need to be sure to align all our brand campaigns with consumer passions across all online and social channels.
  3. Create Engaging Content. We all love meaningful brands and Millennials are no exception. They are more likely to engage with those brands who share their interests and passions. Create useful, engaging and fun content. Don’t just post a traditional marketing message and expect it to work online.
  4. Develop a Community. We need to create an environment to encourage our brand advocates to interact with each other and spread the word about our brand. Give them all the right tools that will allow them to review and rate our products and easily share their experiences with peers. This also helps us get out consumer feedback, get a hold on the pulse of the market.
  5. Consistency in messages. Digital presence offers an excellent opportunity for brands to win brand advocates by consistently sharing messages. We should be utilizing this opportunity to the maximum. Goal should be to create exceptional experiences that lead to developing consumer-brand relationships.
  6. Data Analysis. And lastly, the biggest advantage of online campaigns versus traditional media campaigns is that we are able to measure everything. Capturing, interpreting and measuring engagement using data will help us understand consumer behavior and capitalize on what works and thus use the information again to create more meaningful content to engage better

Digital marketing doesn’t stop after posting the ad online; actually that’s just the start. We need to be at it 24×7. More about how….in my next post

Author: Ganesh Iyer

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MILLENNIALS – Do we have our engagement strategy right?

There is a lot of buzz around the Generation Y – MILLENNIALs – we can find articles on this topic everywhere, from Time Magazine to Forbes and top marketers are writing and researching. It has become one of the most sacred, misunderstood term among marketers today. Even when I heard the word first…I was like what does this mean? Another coined word to define a set of audience by marketers like the ‘baby-boomers’?

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To clarify to those who are still unclear – Millennials are those born between 1980 and 2000. 1.7 billion worldwide and approximately $100 billion in buying power they are soon going to dominate the landscape in the next few years and bring to the table a whole new set of culture. We are at the threshold of a potential change in the way we all do business. According to a study by Edelman, 7 out of 10 Millennials consider themselves ‘alpha-influencers’, not only they influence the decisions of friends and family but also they don’t hesitate to share their experiences in person or on social media. Unlike the previous generation, they are not influenced by traditional advertising and push marketing. They are born in the age of technology and tend to consume information when n how they see fit. They will engage with brands on their own terms. As a result us marketers can no longer expect viable returns from passive messaging.

Millennials question everything, they want to experience everything, they are adventurous, adapt to new things fast, and are risk takers. Unsatisfied with the status quo, they seek out the new, the unique and the exciting.

This means traditional advertising will not help achieve our objectives. We will need to be there where our audience is spending time, to engage with our brands. What we need is a strategy that hinges on engaging them and not just sending them adverts or messages. The era of one way communication is over, it’s all about engagement now.

A tool kit to create engagement strategies for Millennials is a must and below are some examples;

  • Understand the demographic in order to be able to reach and engage them. This means appreciating what distinguishes them from their Baby Boomer parents and what makes them tick
  • Go to the place where the product or service is most relevant and appeal to the people who really care. Invest heavily in this targeted, strategic effort over the mass marketing approach
  • Align all communication with their interest and culture in a non-pushy tone
  • Adopt social media and join the online conversation. Invite participation and don’t expect a one-way product push. Strive to make them feel like they are a part of the story
  • Identify the early adopters and devote significant time and resources on them. They will be a valuable brand advocates
  • Create engaging content and be relevant (customized relevant messages depending on the particular marketing channel, specific segments and tonality). Give them something to talk about and make the brand matter to them
  • Don’t overpromise, don’t create proposition which the brand cannot stand for. If we want to position ourselves on social responsibility, let’s be socially responsible. If we want to be positioned as Geeks, let’s be geeks. We cannot be seen speaking one language and doing another, Milliennials will see through this and we will be quickly outedPS: Gen-Xers (ages 35 to 49), Baby boomers (ages 50 to 69), and the Silents (ages 70 and older). Millennial (Gen Y) generation itself can be further segmented into two age cohorts – younger Millennials (ages 18 to 24) and older Millennials (ages 25 to 34).
  • In my next post I will try to cover more on on-ground engagement and how we can use digital space to engage with Millennials

 

Author: Ganesh Iyer

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