Today's Millennial is evolving and your marketing needs to as well. Stop selling and start helping with the right content in the right context
- 1. MILLENHOW TO BUILD LOYALTY, BRANDENGAGEMENT & YOUR PIPELINEGEN
2. Millennial Metamorphosis Myths & Misconceptions Motivations & Mindsets Maximize MarketingKeytakeaways 3. 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. 4. The NITTY GRITTYAt nearly a quarter of the US Population, Millennials are driving the futureAnd this is what you need to know:They are a consumer powerhouseThey are driven by their social connectionsThey are digital nativesThey are not stereotypesThey are influentialThey are EVOLVING 5. EconomyGlobalizationTechnologyConnectionsShaped by 6. QuickstatsAverage Age of Millennial: 27Average Age of Realtor : 57Median Income: $73,000Typically bought 1800sf, $180k (plan to stay 10 years or less)97% finance, 76% first time homebuyersThey will comprise 75% of the workforce by 2025 (10 yrs)The earning & spending power will exceed their Boomer parents by 2018 ($3.39 trillion) 7. 11.517.173.562.672.973.9GreatestGenerationSilentGenerationBabyBoomersGen XMillennialsGen ZIn millionsPre - 19331933 - 19451946 - 19641965 - 19791980 - 19951996 - Present 8. There will be a massive slump in demand because they are all going to live with their parents- they dont want to own. 9. OPTIMISM 10. the AmericanDream 11. OwnershipSociety 12. Current homeownership 13. New Paths to Ownership 14. When they move, theyll all move to the city and rent 15. Headed for the Burbs 16. Theyre not planning on having families or creating households 17. Family Values* The most influential millennial consumers 18. Millennial moms22 million millennials have children46% of millennial women are mothers10,000 millennial women give birth every dayThey are the biggest and most influential subset of Millennials 19. They hate advertising 20. BriefEntertaining/funnyFreshEducationalRelevant to who they areIt disrupts the status quoThey embrace Marketing 21. Relevance is the Holy GrailThey also reward marketing that fulfills their need for discovery:AmazonThe FancyPinterestJoss & Main 22. They are obsessed with social media/technology 23. DIGITAL NATIVES 24. Generation of networking & connectedness(to information AND individuals)Exhuberants and CollectorsYouTube Guru PhenomenonHyperconnected 25. Stop selling,start helping. 26. They have an innate understanding of marketing and of their value as consumers. And theyre significantly more likely than older generations to believe they have the capacity to help a brand succeed or fail. 27. HappinessPassionDiversitySharingDiscoveryJusticeIntegrityFamilyPracticalityDutyMillennialsBoomersvalues 28. VisibilityThe Big 4ContentMobileReviewsStorytellingCulture/BrandPersonasCommunicationHelp dont sellUseful is the new black 29. Old ModelInterruptionReactionHeavy UsersBig PromisesPassive ConsumersNew ModelEngagementInteractionEngaged ParticipantsPersonal GesturesActive Co-CreatorsMaximizemarketing 30. 1.Provide Value with Information2.Remain Transparent by Being Consistent3.Stay Relevant with the Right Content & Context4.Consumer Centric & Collaborative Marketing5.Socially & Technologically Engaged6.Create Visibility and Accessibility7.Create an Experience Economy8.Build Credibility through Reviews & Testimonials 31. Provide Value with Information74% said the biggest benefit from an agent was helping them understand the PROCESSValue can also take the form of crowdsourcing user opinions to help shape your brands programs/initiatives/marketingMarketing that makes hard-to-understand concepts easy (infographics, Ebooks, whitepapers, slidedecks)Provide content that educates the consumer, is easily shareable and snackable bites 32. Hard info made easy 33. Ebooks, checklistsLanding pagesLead capture 34. Remain Transparent by being consistentEstablish brand authenticity with cross channel story tellingConsistency across every interaction online and offline 35. Stay Relevant with the Right Content in the Right ContextAre you talking about what consumers want to know about?Are you placing that content in the right context?Are you valuable based on the consumers 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 dataHyper-local is hyper-relevant 36. The right contentThe right contextTwo-way dialogue 37. Brands killing contextUBER/LYFT transport for regular people, by regular peopleGoPro & Instagram filters & effects allow users to create professional looking imagesKickstarter ordinary people can become investors/fundraisers 38. Consumer Centric MarketingGet personalUser generated content (50% more trusted)Your consumers will create the topics and marketing plans for youOffer them an opportunity to co-create the experience & the marketing 39. User Generated ContentCollaborativeShareableFeels Organic 40. Social across consumer touchpointsShareableCommunityFeeds on motivation, shared competition 41. Socially EngagedCommunity, Shareablility, ConsistencyFan photo-sharing, retweeting and highlighting positive customer reviewsWhen 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/SlideshareSocial andtech engaged 42. Social is no longer a vertical channel. Its now about creating positive, shareable brand experiences for consumers while facilitating the social sharing of those experiences. 43. Create Visibility and AccessibilityMobile first, desktop secondSEO/keywords, bloggingEasy to read, navigateVideosCommunication- text, Voxer 44. The impact of mobile apps on Millennial purchase decisions is greater than recommendations from blogs, social media, and company advertisements combined. 45. SimpleObvious Calls to ActionMobile/AppVisual Content 46. EmotionHyper-localIts about themIts about lifestyle 47. Experience EconomyIndividualization/customizationParticipationPre, during and post-purchase relationships are expectedNot providing a great service- it needs to be shareableFeeds their search for authenticity & transparency because it all matches up 48. Credibility Through reviews45% of customers share their negative experiences over social media, 35% post them on review sitesOn 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 49. The industry isnt 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.