Who are Millennials?
Millennials are people who fall between the age of 18-34 years. These young, globally immersed, digital natives have a strong penchant to express opinions on social media, and have relatively higher consumer purchasing power than the generations preceding them. They are early adopters when it comes to gadgets, technologies, trends, and are willing to experiment with those. A lot of these millennials have become influencers on social network platforms like Instagram, YouTube, Snapchat, Vine, etc. As social media influencers, these real world celebrities it big as they are funny, able to reach youth, is young and beautiful.
Interesting Facts About Millennials
- Millennials are always on their smartphones – nothing new here. They have, on average, 7.7 connected devices and use 3.3 every day.
- 30% of Millennials have done their grocery shopping online.
- 28% of Millennials watch original programming mostly on their mobile phones and laptops.
- 43% have liked more than 20 brands on Facebook. [Mr Youth]
- 77% have participated in loyalty reward programs. [Aimia]
- By 2018, Millennials will have the most spending power than any generation. [Bazaar]
- 80% of Millennials want brands to entertain them. [HireInfluence]
- Millennials are 2.5x more likely to be early adopters of technology. [HireInfluence]
- Millennials engage more deeply with brands on social networks. [HireInfluence]
Marketing Trends for Millennials
Let us take a look at some of the millennial marketing trends out there:
- User Generated Content: It is a great way to engage millennials and move them further down the conversion funnel, as they trust it 50% more than any type of media.
- Influencer Marketing: Millennials do place more trust into social media influencers. 60% of millennials have said that they would buy a product which has been suggested by a YouTube influencer.
- Live Streaming: Live video is exploding for Millennials. Facebook has also jumped to fray with live streaming feature which is available to everyone.
- Mobile First: Millennials are the mobile generation, especially when an overwhelming 87% have their phones by their side every second of the day.
Why Influencer Marketing is so effective with millennials?
It is one of the best ways to gain the attention of millennials and woo them with your products and services. Influencers have the ability to talk to millennials like they are one of them. The recommendations from influencers are highly trusted compared to those that come straight from brands.
Therefore, the most important part in executing an influencer marketing campaign is to choose your influencers wisely. They should be expert in the subject and willing to engage with the target group. So, collaborating with social media influencers and bloggers to target millennials is an area with huge potential for marketers particularly in industries like beauty and fashion, travel, gadgets, lifestyle and luxury, and more.
By letting influencers experience and experiment with your product or services and letting them talk about it, you can leverage their current audiences and reach your ideal customers.
92% of consumers rely on referrals from people they know over anything else when making purchases – and every time you have a doubt on the effectiveness of influencer marketing, just remind yourself of this statistic.
How to Approach Influencers?
If you want your product to get featured in some post from a blogger or a social media celebrity, one of the simplest method is to ask. Most of the influencers publicly provide their contact information in their profiles and are open to promote products.
The key to successful influencer marketing is to find influencers whose audience is similar to your target audience. It might look easy, but reaching out to influencers with proper homework is critical to convince them to associate with your brand, hence make sure you do extensive research to understand who will work best for you and what’s in it for them.
Let us look at a few examples of how some leading brands across the world have worked with Teni Panosian, who is a YouTube beauty guru, to engage their audience.
Teni was contacted by Target to select plaid clothing items from their store to create a lookbook video around it. Lookbooks are popular types of YouTube content, so it’s a delicate way to promote its products.
For this video, Teni was flown to the Bahamas by Benefit Cosmetics and asked to document her adventures. This type of content shows the lifestyle that brand is trying to sell to its customers.
The next example is about how Old Navy used a social media influencer Meghan Rienks, she appears in a series of promotional posts on YouTube, Instagram and Twitter. In videos , Rienks shows fans how to style outfits for different occasions using the pieces from Old Navy.
She is known for her lifestyle content and comedy sketches, has formidable following on social media, with more than 1.3 million followers on Instagram and over 2 million subscribers on her YouTube channel.
Another example you can notice is when hallmark promoted their holiday 2016 collection of keepsake ornaments. They partnered with number of friendly Instagram influencers to share their tender moments from their families holiday season.
With the help of the hashtag #KeepsakeIt, the influencers used this hashtag to catch glimpses to their family holiday traditions, along with a link for the users to purchase one of their own keepsake ornaments.
I seriously wonder if tiny things could mean so much to tiny people. A small and thoughtful gift could mean so much and then as the years pass by, offer a tangible reminder of thoughtfulness and connection. This gift signifies our first year of homeschooling together and means so much to us. I love a lot of the offerings from the @Hallmark Keepsake Ornament Collection. They have the sweetest small brass ornament hooks, Keepsake miniature trees for a child's playroom or bedroom, and darling, magical ornaments under two inches tall. SO sweet and makes a beautiful gift idea for a niece or nephew or child. Simple and thoughtful. When wrapped up in crinkle paper and a silk ribbon, they make for the smallest act of generosity plus the younger babe is generally just happy to have the crinkle paper. Win-win. Get yours via the link in my bio #KeepsakeIt Together #ad
Influencer marketing is a proven way to build relationships and communicate with Millennials. The better your understanding of how millennials use social media, the more you would be able to leverage influencer marketing. Did you find value in this post? Please leave a comment below.