Trends in Social Media Marketing: Entrepreneur Magazine Article Review:
Article Review By BIG Marketing Solutions:
Trends in marketing are very much in the news these days, especially the growth of Social Media Marketing. To explain the phenomenon, Entrepreneur Magazine published “10 Tips For Millennial Marketing” an article on February 9, 2017 sharing that there may be an unheralded digital divide in this respect. The Millennial generation may actually be avoiding other media while being more likely to respond to properly done social media marketing efforts.
The opening paragraph describes Millennials as “are one of the most talked about generations in the marketing industry…” Then it asks if they are really that different, noting that people have been observing generational differences since 400 BC when “Socrates described teens and young adults like this:
…They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs …” That sounds like any generation of teens and young adults, but Millennials are different than (sic) earlier generations because they grew up with an unmatched presence of technology in their lives — and they are one of the most studied generations because of that.
The article continues by noting that Millennials think differently and act differently, especially with regard to online behavior, because “some things are intuitive to them that are not intuitive to anyone else.”
Many of the differences between the Millennial Generation market segment and others arise because they are the first generation to be digital natives. Mobile devices are affordable so they are the screen of choice for this generation. Millennials think the information available on a mobile device is the same as what is found on a desktop computer screen. Maybe you had heard this, but probably had not heard the following:
According to Google, 66 percent of Millennials are confident that the information they find with mobile devices, such as flight and hotel data, is the same on desktop. Only 43 percent of travelers over the age of 35 feel the same way.
Millennials are very comfortable shopping, and booking travel arrangements, on mobile devices.
According to Google, 64 percent of Millennials book a hotel stay after searching for a room on their mobile device. The majority of travelers over the age of 35 — 58 percent — do not book on mobile.
Millennials do not respond to hard sell pitches because they grew up in an economically challenging time. They are very comfortable with a sharing economy. They want companies to share with them, and to collaborate with them in creating the brand experience and speaking the brand message. “Brands such as L’Oréal, Chanel, Prada and others already understand this and are collaborating with influential bloggers to reach Millennials. Recruiting thought leaders in a marketing category to initiate and maintain conversations is far more effective with Millennials than running a traditional one way campaign “pitching” a product. Inspiring User Generated Content takes the game to the next level!
Getting good reviews on social media is reported to be the coin of the realm to generate a purchase decision or brand loyalty among Millennials, An Omni-Channel or Integrated Marketing Strategy is thought to be the best approach. An Omni-Channel strategy is one that makes sure that the brand identity, image, positioning, value proposition, and messaging are consistent across various media channels even if the final creative effort or delivery is quite different. Straight up online advertising does not fare well with Millennials who are thinking about making a purchase.
While a vast number of the population find online advertising to be credible, only six percent of Millennials in the U.S. consider online advertising to be credible.
The importance of inspiring online reviews in social media by brand fans cannot be overstated. The article reports that “Fifty-one percent of Millennials say that being able to see consumer opinions have a greater impact on making a purchase decision.”
Another recommendation is for a company to provide online customer service. Putting customer service out in public purview shows that the company is not afraid of the conversation that takes place online. Knowing how to handle this to deliver customer satisfaction for all to see and appreciate is considered a huge influence.
Television may influence consumers making purchase decisions up to 70 percent more than other media, but Social media is closing fast, influencing 60% of Millennials.
Thirty-two percent of that 60 percent say that social advertising is more credible when influencing their decisions. In other words, if your company or brand doesn’t have a social media account, you are missing out on the possibility to engage with Millennials.
Maybe you have heard some of this before, but the statistics cited in the article are more concrete and persuasive than some of the hype that has been shared about the topic.
Entrepreneur Article: https://www.entrepreneur.com/article/287905
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