Millennials Want to Party With Your Brand But On Their
Own Terms
Millennials
Put Their Friends First But They Trust Expert Strangers
inShare94
Too many brands think if they've got
a Facebook page, a Twitter account, and maybe an Instagram or Pinterest feed,
they're doing all they can to reach the social generation. But millennials
trust strangers over friends – so if your whole millennial marketing strategy
is limited to social networks, you're not hosting the right party.
Boomers may be big spenders, but
their kids will be the largest consumer generation in history. Young people
aged 17-34 today – the millennials or Gen Y – will spend more than $200 billion
annually starting in 2017, and $10 trillion in their
lifetimes.
But with every brand clamoring for
Gen Y's attention, how can you gain mindshare among the most mobile,
tech-savvy, social generation in history? The answer is to host a killer party
they won't want to miss. For a brand, that means creating engaging content for
millennials to consume and share with friends; offering ways for them to share
their opinions on your brand; and making it easy for them to find
"expert" opinions on your products.
Everyone knows it takes a mix of
magic, planning, and execution to host an unforgettable party. So before you
can get young people to come to your brand party, you have to understand the
motives and behaviors of this unique generation. Millennials are the first
generation to wring 26 hours out of a 24-hour day by multitasking on multiple
devices at once; 80% of millennials report using two or more
Internet devices while watching TV.
Just because millennials are always
connected, however, doesn't mean they're listening. They only absorb a fraction
of what they hear, read, and see, because they live in a world of information
overload. Getting their attention is difficult, but worth the effort.
Millennials form fierce brand loyalty, with 70% saying they always come back to brands they love.
Let the Experts Speak
Though millennials are seen as putting friends above all else, they actually trust strangers with relevant information and experiences the most when it comes to making purchase decisions. Some 84% of millennials said social opinions influence their purchase decisions, and 51% said they trust "strangers" more than friends, according to a report by Bazaarvoice and Kelton Research.
Though millennials are seen as putting friends above all else, they actually trust strangers with relevant information and experiences the most when it comes to making purchase decisions. Some 84% of millennials said social opinions influence their purchase decisions, and 51% said they trust "strangers" more than friends, according to a report by Bazaarvoice and Kelton Research.
In other words, if a young person is
planning a backpacking trip through Europe, she won't ask for advice on a
social network where perhaps only one friend has ever taken such a trip.
Instead, millennials seek out blogs, sites, and applications where experienced
travelers share tips about the best hostels, deals on train tickets, and hidden
restaurants.
That means the only way to really
connect with millennials is to encourage everyone who uses your products or
services to share their opinions – then distribute this content far and wide.
The more content consumers create about a brand or product – and the more
widely marketers distribute this content across retail websites, in-store, and
via social and mobile channels – the more likely young buyers will come across
this authentic content created by "strangers" during the exact moments
they're deciding what to buy.
Encourage Millennials to Share
Some brands are already getting millennial marketing right. Chief among them are travel companies that realize the huge potential spending power of young consumers. Travel spending by millennials rose 20% in 2010, making them the fastest-growing age segment for travel. By encouraging millennials to share and consume authentic opinions, travel brands have an opportunity to capture their loyalty now, and keep it for the future.
Some brands are already getting millennial marketing right. Chief among them are travel companies that realize the huge potential spending power of young consumers. Travel spending by millennials rose 20% in 2010, making them the fastest-growing age segment for travel. By encouraging millennials to share and consume authentic opinions, travel brands have an opportunity to capture their loyalty now, and keep it for the future.
Travel brands like Starwood Resorts
have encouraged all travelers to contribute reviews of not just their hotels,
but surrounding restaurants, destinations, nightclubs, shops, and neighborhoods
to create a deep bench of "expert" content that appeals to young
travelers. (After all, young people don't go somewhere to sit inside a hotel,
but instead are active explorers who want to experience destinations "like
a local.") Millennial travelers in particular share widely while traveling
by posting reviews, photos, check-ins, and posts that show up in various social
feeds. These brands have also made sharing even easier by creating mobile
applications that let travelers check in and post photos and reviews directly
to Facebook and other networks as well as search for nearby recommendations and
reviews from other travelers.
Any type of brand can encourage this
type of content sharing. Make it easy for millennials to consume and share
content about your brand no matter where they are: in a dressing room sharing
outfit ideas with a friend via your mobile app, calling up product reviews on
their phones in store, or posting photos of their newest purchases to Facebook.
However you let them share, make
sure to respond to their suggestions and feedback. Millennials take a lot of
time to share their opinions – and they want to be "heard."
Shaady Ghaddessy, Marketing Manager
for Starwood's W Austin hotel, gets a daily summary report of reviews and
ratings and responds, directly from the General Manager's email address, to
those who have legitimate complaints or particularly interesting comments.
Jason Dorsey, a noted millennials
expert and Chief Strategy Officer at the Center for Generation Kinetics, sums
it up nicely: "Millennials know not everyone will love every travel
experience, but they do expect responsiveness and empathy to questions,
comments, and complaints. How you handle online interactions – not necessarily
achieving resolution, but the approach – can have a big impact on attracting
future customers."
Connecting with millennials is not
rocket science. They want to express themselves, be heard, and learn from
others. Marketers that make it easy for young consumers to interact with their
brands, each other, and the wider web community will be the first in line to
capture some of the millennials' $10 trillion in spending. And if you make
interacting with your brand fun and authentic, millennials will reward you with
continued purchases all throughout their life. After all, no one ever wants a
great party to end.
ABOUT THE AUTHOR
Erin Mulligan Nelson is CMO of Bazaarvoice, which powers
online reviews for major marketers and e-commerce sites. Prior to joining
Bazaarvoice in 2010, Nelson was CMO of Dell; she has also worked in brand
management at Procter & Gamble and PepsiCo.
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PAIGE BEAL PITTSBURGH, PA
# 5 -
Aug 03, 2012 9:56 AM
Informative and actionable - thanks
for the info. I am currently researching "millennials culturals",
culturally active millennials, and found some interesting related info. They
are 57% more likely to see a movie on its opening weekend - 62% more likely
than the average population to see it in the first two week. Millennial need to
see it first, PLUS they want to tell everyone about it (FIRST!) - the active
ingredient for word of mouth momentum. This lifestyle slice provides the first
wave of enthusiasm and the higher likelihood of spreading the word.
patty johnson steep Falls, mE
# 4 -
Aug 03, 2012 9:21 AM
I have a friend that is paid to
write reviews and recommendations for places she has not visited and products
she has not used. The daunting challenge of businesses to get good, true blog
support out there has become much more daunting when the blogs are not immune
to false advertising. Those businesses that can afford to hire my friend
understand well the aspect of people believing strangers over friends.
Competition is fierce in every aspect of media.
Tim Anderson El Segundo, CA
# 3 -
Aug 02, 2012 4:35 PM
Intro "...if your whole
millennial marketing strategy is limited to social networks, you're not hosting
the right party" is misleading.
Most people (not just GenY) are using more resources than ever to get advice. Why? Because WOM is the most trusted source for info/advice.
There are times, as you note in the travel example, when people beyond their immediate circle of (local) friends have more first-hand experience with something. Thus, Gladwell's theory on "mavens", right? So, people might go to those "strangers" over closer friends. This isn't surprising.
While 51% of people claim they would trust a stranger over friends, that doesn't seem like a wide margin and likely varies greatly based on the situation. If I want to find a good daycare for my child, I'll likely ask people close to me. If I want to take a trip to China, only one of my friends has been, so that limits other friends potential influence.
Finally, aren't the reviews posted on TripAdvisor or Yelp or blogs (from perfect strangers) often social in nature, too? You can correspond with people who have posted reviews in many cases. And, just as importantly, the extended networks offered in the more mainstream SM sites (FB, Twitter, etc.)simply provide a broader range of "trusted experts" (often labeled "Friends" or "Followers") than those living right down the street from you.
Do agree that brands need to do a better job of soliciting and curating more "expert" content. They can even benefit from negative reviews, as it's unfiltered "free" consumer feedback and shows they're not afraid to be transparent. See Domino's. Another important point.
Most people (not just GenY) are using more resources than ever to get advice. Why? Because WOM is the most trusted source for info/advice.
There are times, as you note in the travel example, when people beyond their immediate circle of (local) friends have more first-hand experience with something. Thus, Gladwell's theory on "mavens", right? So, people might go to those "strangers" over closer friends. This isn't surprising.
While 51% of people claim they would trust a stranger over friends, that doesn't seem like a wide margin and likely varies greatly based on the situation. If I want to find a good daycare for my child, I'll likely ask people close to me. If I want to take a trip to China, only one of my friends has been, so that limits other friends potential influence.
Finally, aren't the reviews posted on TripAdvisor or Yelp or blogs (from perfect strangers) often social in nature, too? You can correspond with people who have posted reviews in many cases. And, just as importantly, the extended networks offered in the more mainstream SM sites (FB, Twitter, etc.)simply provide a broader range of "trusted experts" (often labeled "Friends" or "Followers") than those living right down the street from you.
Do agree that brands need to do a better job of soliciting and curating more "expert" content. They can even benefit from negative reviews, as it's unfiltered "free" consumer feedback and shows they're not afraid to be transparent. See Domino's. Another important point.
Grant Spanier St. Paul, MN
# 2 -
Aug 02, 2012 3:32 PM
You mean they trust FRIENDS over
strangers...?
MARC WADDELL LOS ANGELES, CA
# 1 -
Aug 02, 2012 3:12 PM
You wrote: "Young people aged
17-34 today – the millennials or Gen Y".
However, people today who are 31 to 34 years old are Gen Xers (not Millennials). Xers were born 1961 to 1981.
See experts Strauss and Howe's generational dynamics theory. They wrote a New York Times bestseller titled "Generations".
However, people today who are 31 to 34 years old are Gen Xers (not Millennials). Xers were born 1961 to 1981.
See experts Strauss and Howe's generational dynamics theory. They wrote a New York Times bestseller titled "Generations".
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