8 Ways to Get Millennials to Love Your Brand
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Transcript of 8 Ways to Get Millennials to Love Your Brand
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MILLEN
HOW TO BUILD LOYALTY, BRAND
ENGAGEMENT & YOUR PIPELINE GEN
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Millennial Metamorphosis
Myths & Misconceptions
Motivations & Mindsets
Maximize Marketing
Key takeaways
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A socially connected, empowered
group of consumers that present
themselves as both the most
assimilated generation in history and,
simultaneously, the consumer group
needing the most individualized
targeting ever.
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The NITTY GRITTY
At nearly a quarter of the US Population, Millennials are driving the
future
And this is what you need to know:
They are a consumer powerhouse
They are driven by their social connections
They are digital natives
They are not stereotypes
They are influential
They are EVOLVING
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Economy
Globalization
Technology
Connections
Shaped by
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Quick stats
Average Age of Millennial: 27
Average Age of Realtor ®: 57
Median Income: $73,000
Typically bought 1800sf, $180k (plan to stay 10 years or less)
97% finance, 76% first time homebuyers
They will comprise 75% of the workforce by 2025 (10 yrs)
The earning & spending power will exceed their Boomer
parents by 2018 ($3.39 trillion)
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11.5 17.1
73.5
62.6
72.9 73.9
Greatest
Generation
Silent
Generation
Baby
Boomers
Gen X Millennials Gen Z
In millions
Pre - 1933 1933 - 1945 1946 - 1964 1965 - 1979 1980 - 1995 1996 - Present
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“There will be a massive
slump in demand because
they are all going to live
with their parents- they
don’t want to own.”
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OPTIMISM
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the American Dream
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Ownership Society
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Current homeownership
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New Paths to Ownership
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“When they move,
they’ll all move to
the city and rent”
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Headed for the ‘Burbs
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“They’re not
planning on having
families or creating
households”
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Family Values * The most
influential
millennial
consumers
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Millennial moms
22 million millennials have children
46% of millennial women are mothers
10,000 millennial women give birth every day
They are the biggest and most influential
subset of Millennials
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“They hate
advertising”
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Brief
Entertaining/funny
Fresh
Educational
Relevant to who they are
It disrupts the status quo
They embrace Marketing
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Relevance is the Holy Grail
They also reward marketing that fulfills
their need for discovery:
Amazon
The Fancy
Joss & Main
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“They are obsessed
with social
media/technology”
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DIGITAL NATIVES
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Generation of networking & connectedness
(to information AND individuals)
“Exhuberants” and “Collectors”
YouTube Guru Phenomenon
Hyperconnected
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Stop selling,
start helping.
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They have an innate understanding
of marketing and of their value as
consumers. And they’re significantly
more likely than older generations to
believe they have the capacity to
help a brand succeed or fail.
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Happiness
Passion
Diversity
Sharing
Discovery
Justice
Integrity
Family
Practicality
Duty
Millennials Boomers
values
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Visibility
The Big 4
Content
Mobile
Reviews
Storytelling
Culture/Brand
Personas
Communication
Help don’t sell
Useful is the new black
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Old Model
Interruption
Reaction
Heavy Users
Big Promises
Passive Consumers
New Model
Engagement
Interaction
Engaged Participants
Personal Gestures
Active Co-Creators
Maximize marketing
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1. Provide Value with Information
2. Remain Transparent by Being Consistent
3. Stay Relevant with the Right Content & Context
4. Consumer Centric & Collaborative Marketing
5. Socially & Technologically Engaged
6. Create Visibility and Accessibility
7. Create an Experience Economy
8. Build Credibility through Reviews & Testimonials
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Provide Value with Information
74% said the biggest benefit from an agent
was helping them understand the PROCESS
Value can also take the form of crowdsourcing user
opinions to help shape your brand’s
programs/initiatives/marketing
Marketing that makes hard-to-understand concepts
easy (infographics, Ebooks, whitepapers, slidedecks)
Provide content that educates the consumer, is easily
shareable and “snackable bites”
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Hard info made easy…
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Ebooks, checklists
Landing pages
Lead capture
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Remain Transparent by be ing cons istent
Establish brand authenticity with
cross channel story telling
Consistency across every
interaction – online and offline
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S t a y R e l e v a n t w i t h t h e R i g h t C o n t e n t i n t h e R i g h t C o n t e x t
Are you talking about what consumers want to know about?
Are you placing that content in the right context?
Are you valuable based on the consumer’s situation – yes, how do
communicate that?
Visual content is king - are you using video and photo-platforms to
build your brand and connect with clients?
Predictive analytics & big data
Hyper-local is hyper-relevant
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The right content
The right context
Two-way dialogue
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Brands killing context
UBER/LYFT – transport for regular people,
by regular people
GoPro & Instagram – filters & effects allow users to create professional looking images
Kickstarter – ordinary people can become investors/fundraisers
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Consumer Centric Marketing
Get personal
User generated content (50% more trusted)
Your consumers will create the topics and marketing
plans for you
Offer them an opportunity to co-create the
experience & the marketing
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• User Generated
Content
• Collaborative
• Shareable
• Feels Organic
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Social across consumer
touchpoints
Shareable
Community
Feeds on motivation, shared
competition
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Socially Engaged
Community, Shareablility, Consistency
Fan photo-sharing, retweeting and highlighting
positive customer reviews
When we want a recommendation for which someone we
know may be a credible source, we connect those dots in
social media
Requirement to be on the big 4
Recommend photo-platforms/Slideshare
Social and tech engaged
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Social is no longer a vertical
channel. It’s now about creating
positive, shareable brand
experiences for consumers while
facilitating the social sharing of
those experiences.
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Create Vis ib il ity
and Accessib il ity
Mobile first, desktop second
SEO/keywords, blogging
Easy to read, navigate
Videos
Communication- text, Voxer
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The impact of mobile apps on
Millennial purchase decisions is
greater than recommendations
from blogs, social media, and
company advertisements
combined.
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Simple
Obvious Calls to Action
Mobile/App
Visual Content
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• Emotion
• Hyper-local
• Its about them
• Its about lifestyle
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Experience Economy
Individualization/customization
Participation
Pre, during and post-purchase relationships are
expected
Not providing a “great service”- it needs to be
shareable
Feeds their search for authenticity & transparency
because it all matches up
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Credibil ity Through reviews
45% of customers share their negative experiences
over social media, 35% post them on review sites
On average, a one-star increase on Yelp leads to a
5 to 9% increase in a business's revenue. On the flip
side, one negative review can cost you 30
customers.
Millennial purchasing decisions are
disproportionately impacted by customer reviews
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The industry isn’t relevant. What
matters, is that other companies are
embracing the “help more, sell less”
value-add approach and, in so
doing, are changing the
expectations of your customers.