Marketing to Millennials and the new Marketing Playbook

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    19-Feb-2017

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THIS IS YOUR PRESENTATION TITLEMarketing to Millennials and the New Marketing PlaybookUnderstanding the market, the changes, the needs.Jeff ErnstCEO | Co-founderSmyncThe MillennialsWho they really areWhere they are in lifeWhat motivates, connects themHow they perceive brands Where marketing failsHow to successfully connect, develop and market for real business impactWhat Youve Been Told Is Dated or Just Plain WrongThe image created by media and marketing hasnt shiftedIncorrectly portrayed as 16-24, unemployed, disaffected, high debt, living at home, etc...etc...Economic impact and size has been secondary in the discussion.Who The Millennials Really AreEntered adulthood as the clock struck 2000age 35As of 2015, largest demographic 75.3 MM in US$200B in US purchasing power, $2.5T globally$30B in US wealth transfer coming soon...11MM households have The Great Disruptors - ChildrenHow they connect and consume media1 day per week on mobile 3.2 hours per day2.4 hours per day on social1.9 hours per day online videoOnly .2 hours per day on radio, only .1 with print media, 1.2 hours on televisionIts about TrustOnly 1% say their trust in a brand will be swayed by a compelling adTrust from personal connection 4x more than from a brand 92% vs. 23%Trust celebrity endorsers even less than brandsTurn to trusted sources for buying decisions social media, blogsYou must build trustIts about Co-CreationCo-creation is a trend that is here to stay. 63% want to be involved with helping brands create new products.Provides true customer-centric products, improves speed-to-marketHelps brands improve communication and maintain relevanceIts about AuthenticityAlmost half value authenticity before quality of content.Authenticity creates trustif they dont trust, they dont careHow a brand fits into life vs. having identity wrapped up in a brandIts about TribesNot the old school marketing definitionInclusive, building community, diversethe people around youExperiences before ThingsConnecting, sharing via social, messaging Its about TribesOver 75% believe it is their DUTY to help their friends make smarter purchasing decisionsOver 60% are brand loyalSharing their experience with brands becomes central to success.How do you successfully market to Millennials?Traditional marketing methods dont workOrganic reach is deadBrand trust is lowGrowth hacking is real The New Marketing Playbook - EngageMobile and Social FirstStart customer-centricThink humanBe authenticGet feedbackThe New Marketing Playbook - ExperienceProvide an experience worth sharingIdentity is not wrapped up in the brand, but how it fits in to their livesBuild Authentic Social Word-of-Mouth and Brand AdvocacyThe New Marketing Playbook Embrace ChangeEngagement, relationships, experience become crucialTraditional channels continue to lose impact person-to-person, direct channels The perceived control of marketing message is finally lost authentic, transparent, sharedMeasurable Business Impact1 authentic advocate reaches 8! deep 40,000 peopleWOM Impression shared up to 24x more, triggers purchase up to 50x moreWord-of-Mouth is involved in over 75% of first-time purchases, drives up to 27% of overall revenueReferred customers are up to 20% more loyal, 20% greater lifetime valueThe word-of-mouth impression is worth up to 200x a paid impression, WOM drives up to 10x return of paid media, amplifies effect of paid 15%The Facts about SWOMand Brand AdvocacyLets Talk MoreReach Jeff Ernst, CEOjeff@smync.com 872.395.8225 Thank you!We are Smync. We help you find, foster, amplify and deliver.