No Choice but to Connect with Millennials on Their Terms
Millennials represent more than $200 billion of annual buying power so knowing how to get their attention, and keep it, is crucial for a brands success.
SDL, a customer experience management company, has released part three in their five-part study “Five Truths for Future Marketers.” Part three, titled “Content Finds the Customer”, surveyed more than 1,800 millennials from across the globe. Among other things, the results delve into where millennials learn about new content, where they communicate with brands and how they expect brands to communicate with them.
First of all, it should be obvious by now that millennials love social media. Whether it’s Facebook, Twitter, Instagram or Reddit, millennials love to see what their friends are up to and what’s new in communities that they have interests in. Take Reddit for example. Millennials on the social media site can subscribe to multiple communities, or “subreddit’s” to learn about new developments within that community. An example of a subreddit is r/tech. Here, subscribers (like myself) can stay up-to-date on all technology related announcements and also learn about current, past and future technologies that they were previously unaware of.
The study also found that five out of six millennials connect with brands on social media. Knowing this, as well as knowing the buying power that millennials possess, it seems obvious that brands need to, not should, be on social media trying to connect with this audience. By connecting with brands via social media, millennials can obtain promotions and offers that otherwise wouldn’t be available. Jenny Craig, for example, used to offer three free days of food with free shipping included to those who “liked” them on Facebook (otherwise known as like-gating).
Furthermore, brands need to think about the quality of content that they put on social networks. If they are just spewing out the usual corporate jargon, they are not going to connect with millennials. On a whole, Millennials want more targeted, or hyper-targeted, messages from brands speaking to specific interests they have. Whether they are listening to a music streaming service or checking their Facebook, millennials want to see and hear messages that are tailored to them, not generic messages that are sent to thousands upon thousands of consumers.
As companies look for new ways to connect with millennials, social media offers a unique and critical insight into what makes them tick. So for those who are devoting minimal time and effort or who have yet to leverage social media, it is time to rethink your strategy and rally the troops. After all, don’t you want your piece of that $200 billion?
To download “Content Finds the Customer” in its entirety click here.