There are sometimes when I read specific findings on demographic or geographic groups that I groan a little. I'm not saying that this report that NewsCred isn't important for marketers to keep in mind, but I do believe that we often tend to generalize with data and sometimes come to conclusions that aren't accurate.
I often ask someone, would you rather reach 10,000 people with a 1% response rate or 500 people with a 25% response rate? In case you're struggling with the math – the latter will result in 25 more respondents. So, sometimes it's not going where the average… sometimes you have to go deeper where the niches are.
In fact, with regard to millennials, I might even argue that reaching more could be counterproductive. The data from this survey shows that they don't wish to be sold… so why would you maximize your reach to sell them across all of these social mediums and strategies? I still may recommend social media as a medium, but the strategy will differ completely based upon the segments I'm seeking to engage with.
Why do brands care about millennials? By 2020, millennials will total more than $1.4 trillion in spending power. For brands, that means that if you are not reaching millennials, you are not keeping pace with the future. Content drives brand connections, but if your content is completely failing to engage your target audience, than what is the point? 62% of millennials feel that online content makes them feel more connected and loyal to a brand, but only 32% find today's brand communications helpful.
NewsCred provides the following advice to resonate with millennials:
- Tailor content to individuals’ unique cultural interests.
- Make sure content is useful or helpful towards solving everyday problems of millennials .
- Avoid being sales-y or self-promotional.
- Keep it short.
- Aim to be thought-provoking and intelligent .
- Be funny .
- Be authentic.
- Don’t bank on virality or social endorsements alone .
- Ensure personalization by price point, location, race, etc.
- Deploy formats that are easy to digest and share.
To learn more about using content to market to millennials, including four case studies of brands who get it right, download NewsCred's free Millennials guide today!