Millennials are redefining the practice and tactics of marketing today because they consume media and messages much differently than other audiences. The tried-and-true tactics are not tired and uninspired, so brands need to evolve with the times and the trends to reach this younger audience. Millennials are only between the ages of 18 and 35, but this demographic is three times the size of the Generation-X group and will have a collective purchasing power of $2.5 trillion by 2015. Earning their business today can lead to loyalty and brand preference tomorrow. But since two-thirds of Millennials think marketers don’t understand them and most ignore emails from unfamiliar brands, it can be challenging for marketers to connect with these consumers. This subject stole the spotlight at Forrester’s Forum for Customer Experience Professionals East where industry professionals revealed the right ways to reach this Millennial market. LuxuryDaily.com featured the five trends they thought Millennials were bringing to marketing.
- The Collapse of Campaigns: It appears that long-running campaigns don’t suit the short attention spans of Millennials. As a result, brands need to alter their approach and replace their continuing campaigns with real-time, relevant content delivered in a fast and frequent manner.
- The Big Dilemma with Big Data: As social media shows, Millennials are willing to share an enormous amount of personal information online. Yet they also know that their personal details often become Big Data for businesses. And while 62% worry about this Big Data being used for marketing purposes, almost half of Millennials will freely share their data if it leads to more relevant offers. So how can brands give Big Data a friendlier face? They need to position it as a source of access instead of annoyance and use the system to deliver the relevant content that Millennials constantly crave.
- Personalized Profiles Lead to Connections with Consumers: Digital profiles are rapidly becoming more personalized, which is driving relevant content directly to the right consumers. And companies are following this content so they can connect with their target audience. And since so many Millennials share so much information on social media, they frequently promote their favorite brands, which should lead to an increase in brand advocates.
- All Channels Cross for an All-Inclusive Experience: Today, 64% of Millennials want the brand experience to be the same across all media channels because they travel them on a regular basis. As a result, conventional channel boundaries have been broken and brands need to start merging their many silos to present a more complete view of the company and its consumers.
- Localization of Content is Critical for Consumer Connections: Language makes a major impact on Millennials’ purchasing decisions, with 75% of more likely to purchase a product if its information was presented in their own language. So with more and more brands expanding to countries outside of their main markets, it’s clear that Web site localization and translation are essential to engaging and retaining consumers in these new locations. That’s why brands need to take the time to translate and curate content that’s contextually relevant to each country’s audience in order to establish a successful presence.
With Millennials changing and challenging traditional advertising approaches, this new generation of consumers is driving a new generation in marketing.
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