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Engaging with Millennials in the Right Way

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The millennial lifestyle is mostly about multitasking, accelerated communication, constant connection, and immediate gratification. It is a lifestyle that typically contradicts traditional marketing and research methods. And so brands and marketers have a tough task in finding the right way to engage with this group of consumers who have a combined purchasing power of $2.45 trillion worldwide.

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Engaging with Millennials in the Right Way

  1. 1. Engaging with Millennials in the Right Way September 2015
  2. 2. © XPotential 2015 Who are the Millennials? • Most experts agree that Millennials encompasses those born from the early ‰’80s to the early 2000s. • They are both the 20th century’s last generation and its first truly digital one. • Millennials are the offspring of the baby boomers (people born between 1946 and 1964). 2 Source: www.education-portal.com www.visioncritical.com • Millennials are poised to become the most educated generation in history, according to a recent Pew Research Center study. • People sometimes refer to the Millennials as Echo Boomers, Generation Y, the Internet Generation, iGen, and the Net Generation.
  3. 3. © XPotential 2015 What are the Challenges in Engaging with Millennial Consumers? The millennial lifestyle is mostly about multitasking, accelerated communication, constant connection, and immediate gratification. It is a lifestyle that typically contradicts traditional marketing and research methods. 3 • Always multi-tasking • Constant connection • Short attention span • An appetite for collaboration • A very diverse group Source: www.visioncritical.com
  4. 4. © XPotential 2015 1. Always Multi-Tasking Many younger Millennials are screenagers’, multi-tasking consumers who utilise multiple screens and multiple devices at the same time 4
  5. 5. © XPotential 2015 The Multitasking Life On average, Millennials tend to use three different devices at the same time—with at least two of those devices having screens (e.g., computer, iPad, phone, TV) and at least two of them communications- oriented (e.g., phone, email, Facebook, or other IM). 5 Source: www.trendspot.com
  6. 6. © XPotential 2015 High Expectations and Little Time • Millennials navigate busy digital lives, their brains have been rewired to organize and consume content differently. • This raises their expectations of what content needs to be delivered, and how quickly it gets there. 6
  7. 7. © XPotential 2015 2. Constant Connection Millennials are a generation that grew up with the Internet, and are known for their tweeting, snapchatting, friending, checking-in, texting, and selfie-taking 7 • They sleep with their mobiles and post status updates from the bathroom • 74% feel that technology makes their lives easier
  8. 8. © XPotential 2015 Connected but Listening? • BUT it doesn't mean that they're listening… • Millennials only absorb a fraction of what they hear, read, and see, because they live in a world of information overload. 80% of millennials are known to use two or more Internet enabled devices while watching TV Source: www.adage.com
  9. 9. © XPotential 2015 • Millennial Shoppers are more likely to use mobile phones when shopping online and are also most likely than any other age group to browse products on their smartphones when they visit a store. • Millennials expect a seamless online experience regardless of the device and what they‰are doing. 9 Connected Everywhere
  10. 10. © XPotential 201510 The New Morning Routine? Toothpaste, toilet paper, texting… Source: Cisco Connected World Technology Report
  11. 11. © XPotential 2015 Connected or Addicted 11 Source: Cisco Connected World Technology Report
  12. 12. © XPotential 2015 3. Short Attention Span One of the defining characteristics of Millennials is their short attention span. This trait is apparent in the dominant communication tools that millennials use; text messages, Twitter, and IM all encourage concise messages. 12
  13. 13. © XPotential 2015 Even a Gold Fish Has a Better Attention Span than the Millennials! 13 • In the digital age, where the news is limited to 140 characters and conversations take place in the form of emojis, our attention span has shortened. A recent study by Microsoft Corporation has found this digital lifestyle has made it difficult for us to stay focused, with the human attention span shortening from 12 seconds to eight seconds in more than a decade. • The inability of the Millennial generation to focus stems from the ever-increasing availability of digital media at their fingertips. • These savvy digital natives can view multiple screens, use social media, and consume the latest news, devoting seconds to each task.
  14. 14. © XPotential 2015 4. An Appetite for Collaboration A consequence of growing up with the Internet is that Millennials prefer democratic, collaborative processes. Millennials love being part of a team. They want to participate, and they want their views to be heard. 14
  15. 15. © XPotential 2015 They are very open minded when it comes to native content, and will gladly share it with their social networks 84% of millennials said social opinions influence their purchase decisions 15 Sharing
  16. 16. © XPotential 2015 5. A Very Diverse Group It is dangerous to look at millennials as one cohort. While they belong to one generation, Millennials fall on a wide spectrum of tastes, behaviours and income levels. 16
  17. 17. © XPotential 201517 Content that is geared towards the Millennials has to be exciting, engaging and shareable because they are bombarded by information everyday 45% of Millennials are underwhelmed by content served up by brands and don’t find it compelling enough to share
  18. 18. © XPotential 2015 Millennials form fierce brand loyalty, with 70% saying they always come back to brands they love. 18
  19. 19. © XPotential 2015 However, brands need to understand their needs, preferences and passions 19 Millennials expect companies and brands to understand their needs, their preferences, and their passions
  20. 20. © XPotential 2015 7 Key Characteristics of Effective Marketing to Millennials: • Be authentic. • Be relevant. • Be a necessity. • Be a value. • Be socially responsible. • Be shareable. • Be an experience. 20 Source: Carol Phillips, Notre Dame professor and president of Brand Amplitude
  21. 21. © XPotential 2015 A Brand that got the Millennials Right: Tide Pods by P&G 21 Millennials want products that provide convenience and are energy-efficient, which may explain why Tide Pods have done so well among this generation. Tide Pods focused on the innovation behind the product, as well as its no-fuss qualities. The commercial boasted that Pods “provide excellent results with minimal time and effort,” a message that speaks directly to Millennials’ quest for convenience No longer would apartment dwellers have to lug the entire bottle of laundry soap to the laundry mat or worry about wasting soap by pouring too much into the washing machine.
  22. 22. © XPotential 2015 What Tide did Right 22 Solved a need for Millennials and created the marketing message to back it up.
  23. 23. © XPotential 2015 So How You Can Create an Inspiring Conversation with the Millennials… 23
  24. 24. © XPotential 2015 Here is How… 24 www.bazaarvoice.com www.searchenginejournal.com Source: Create an experience in which Millennials can participate, develop and share your brand Make sure you communicate with them where they are Give them something to talk about - Content/advertising should enhance - not distract - from what you have to offer Short and fast content with immediate response and accessibility is key and drawn to visual content more than text. Align your brand with a cause, so that Millennials will align with you
  25. 25. XPotential (UK) 4/5 Market Square, Marlow, Buckinghamshire, SL7 3HH, United Kingdom Tel: +44 (0) 1628 485 847 info@xpotential.co.uk XPotential (Brazil) AV. Divino Salvador, 716 Moema – São Paulo – SP CEP – 04078 – 012 Tel: +55 (0) 11 5051 9194 info@xpotential.co.br XPotential (Thailand) Q.House Lumpini, Level 27, 1 South Sathorn Road, Tungmahamek Bangkok 10120, Thailand Tel: +66 (0) 2610 3706 info@xpotential.co.th XPotential ANZ P.O Box 237, Hampton, Melbourne, Victoria 3188, Australia Tel: +61 (0) 404 098 892 enquiries@xpotentialanz.com © XPotential 2015

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