Marketing to Millennials and the new Marketing Playbook

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Marketing to Millennials and the New Marketing PlaybookUnderstanding the market, the changes, the needs.

Jeff ErnstCEO | Co-founderSmync

The Millennials

Who they really are

Where they are in life

What motivates, connects them

How they perceive brands

Where marketing fails

How to successfully connect, develop and market for real business impact

What Youve Been Told Is Dated or Just Plain Wrong

The image created by media and marketing hasnt shifted

Incorrectly portrayed as 16-24, unemployed, disaffected, high debt, living at home, etc...etc...

Economic impact and size has been secondary in the discussion.

Who The Millennials Really Are

Entered adulthood as the clock struck 2000age 35

As of 2015, largest demographic 75.3 MM in US

$200B in US purchasing power, $2.5T globally

$30B in US wealth transfer coming soon...

11MM households have The Great Disruptors - Children

How they connect and consume media

1 day per week on mobile 3.2 hours per day2.4 hours per day on social1.9 hours per day online video

Only .2 hours per day on radio, only .1 with print media, 1.2 hours on television

Its about Trust

Only 1% say their trust in a brand will be swayed by a compelling ad

Trust from personal connection 4x more than from a brand 92% vs. 23%

Trust celebrity endorsers even less than brands

Turn to trusted sources for buying decisions social media, blogs

You must build trust

Its about Co-CreationCo-creation is a trend that is here to stay. 63% want to be involved with helping brands create new products.

Provides true customer-centric products, improves speed-to-market

Helps brands improve communication and maintain relevance

Its about AuthenticityAlmost half value authenticity before quality of content.

Authenticity creates trustif they dont trust, they dont care

How a brand fits into life vs. having identity wrapped up in a brand

Its about TribesNot the old school marketing definition

Inclusive, building community, diversethe people around you

Experiences before Things

Connecting, sharing via social, messaging

Its about TribesOver 75% believe it is their DUTY to help their friends make smarter purchasing decisions

Over 60% are brand loyal

Sharing their experience with brands becomes central to success.

How do you successfully market to Millennials?Traditional marketing methods dont workOrganic reach is deadBrand trust is lowGrowth hacking is real

The New Marketing Playbook - EngageMobile and Social First

Start customer-centric

Think human

Be authentic

Get feedback

The New Marketing Playbook - ExperienceProvide an experience worth sharing

Identity is not wrapped up in the brand, but how it fits in to their lives

Build Authentic Social Word-of-Mouth and Brand Advocacy

The New Marketing Playbook Embrace ChangeEngagement, relationships, experience become crucial

Traditional channels continue to lose impact person-to-person, direct channels

The perceived control of marketing message is finally lost authentic, transparent, shared

Measurable Business Impact

1 authentic advocate reaches 8! deep 40,000 people

WOM Impression shared up to 24x more, triggers purchase up to 50x more

Word-of-Mouth is involved in over 75% of first-time purchases, drives up to 27% of overall revenue

Referred customers are up to 20% more loyal, 20% greater lifetime value

The word-of-mouth impression is worth up to 200x a paid impression, WOM drives up to 10x return of paid media, amplifies effect of paid 15%The Facts about SWOMand Brand Advocacy

Lets Talk More

Reach Jeff Ernst, 872.395.8225 Thank you!

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