Power Digital Can Help
At Power Digital, we understand Millennials because we ARE Millennials.
More traditional brands are finding themselves playing catch-up as a result of ignoring or writing off the power of this generation. And these brands will continue to struggle if they do not make corrections to their marketing strategy and begin to include Millennials as their current customer base grows older and moves out of the prime spending ages.
With a team composed entirely of Millennials, we are able to connect with your audience and drive results in a way that no other agency can. In fact, our founders started Power Digital because they could not find an agency who knew how to achieve what they were looking for.
Let’s take a walk down memory lane…
Grayson Lafrenz, CEO, and Robert Rodrigues, COO, used to run a software company whose primary consumer audience was Millennials. They interviewed agency after agency trying to find the perfect fit for their marketing strategy and audience. Although each agency had incredible backgrounds, resumes, and experience, none of them actually were Millennials -making it difficult for them to understand how to market to them.
Realizing there was a huge gap in the agency landscape, they jumped at the opportunity to fill it. They wanted to be the powerhouse company where Millennials want to work and who can help brands cater to this powerful demographic. And thus, Power Digital Marketing was born and the rest is history.
How to Market to Millennials
Millennials Require A Different Approach
But what needs to be understood about marketing to Millennials? Is it really all that different than marketing to anyone else?
It really is!
Millennials grew up in the digital age, we are technologically savvy, trained to quickly sense inauthenticity and disingenuity in the world around us. We are a highly intelligent group that refuses to be sold to, and tend to respond more to experiential marketing strategies. We use the internet as a discovery tool, a way to learn about various products and explore our options. This is far different from past generations who leaned into marketing and advertising as an essential part of the consumerist landscape.
When it comes to buying decisions, we are pros at finding a deal. We take the time to compare the prices and features of each product or service while measuring the value of each in order to make a choice. This research is almost entirely completed online. With the world at our fingertips, we expect every brand we buy into to meet a certain standard. If a brand does not meet our criteria, we will find someone else who does.
We also value our time. We love to find what we’re looking for quickly and easily. So any brand that inhibits our ability to do so will be eliminated from our list of possibilities in no time. Many describe this as a need for instant gratification, a term that has become synonymous with impatience.
However, assuming that Millennials are impatient is a common misconception and a direct contradiction to our compulsion to research options prior to making a decision. See how this can get complicated for someone who does not understand the wants and needs of our generation?
So, what do marketers need to understand about Millennials if they plan on running a successful campaign?
- We know when you are being fake.
- We will research your brand extensively, some even probing for social consciousness.
- We compare prices and features before making a decision.
- We don’t appreciate when you waste our time.
- We desire accessibility.
…just to name a few!
A Challenging Situation
Clearly, understanding our generation is not as easy as it may seem. We seem to invoke a number of contradictions in our expectations and behaviors, making it extremely difficult for someone from outside our cohort to market to us.
Have questions about the benefits of a millennial agency?
We’ve established that Millennials have to be marketed to differently. Traditional strategies will blend into the noise of hundreds of brands who are trying to grab our attention and your efforts will be wasted as we scroll past your advertisements.
At Power Digital, we’ve found a number of different strategies that truly resonate with this audience.
Recruiting Millennial Workers
While you not only have to market to Millennial consumers differently, you also have to recruit Millennial employees in a different way. Power Digital has mastered the techniques that it takes to draw the attention of Millennial workers and we know what they look for in a job.
Gone are the days where an employee will stay with a company for twenty years simply because it is the job they have always had. Instead, you have to give them a reason to stay, earning their loyalty rather than expecting it.
At Power Digital, we have helped many of our clients devise a Millennial recruitment strategy and implement it successfully, continuously helping to increase the number of Millennials hired to their team.
By tapping into our team’s insights, skillsets, and resources to assist our clients, we help recruit the best of the best, an activity that can be costly in both time and money. To do this in-house would require hiring a new full-time recruiter or asking already busy employees to take time out of their days to help recruit. Neither option is ideal.
We’re great at recruiting Millennials because we understand what they are looking for career-wise. After all, it’s what we looked for in our search! So, what do we as Millennials want from our next gig or company?
Most Millennials grew up in a competitive environment and thrive when given a challenge. If we feel bored or complacent, we might seek out a challenge elsewhere.
That said, we value an environment where we are given the tools and resources to grow and succeed. That means allowing mistakes to be made and helping us develop professionally. We may act like we have it all figured out, but we know we have a lot to learn.
A company that values collaboration and innovation is a big draw to Millennials. It means we can feel comfortable sharing our ideas and suggestions for problem-solving without fear of rejection. We want to help, and providing an environment that fosters contribution is ideal.
The company is falling behind competitors.
Every time you seem to gain on the competition, they pull ahead. If sustaining a competitive advantage feels difficult, having a CMO may be the ticket to turning things around. The right CMO partner will understand not only your marketing strategy but also the strategies of your major competitors. They will then use that knowledge to your advantage.
The idea of a work-life balance is gone, instead, we now have work-life integration. Millennials are okay with checking our emails on nights and weekends, but we want to feel like we can take a few hours off for a doctor’s appointment without consequences in return. Micromanaging a Millennial’s work schedule will never end well. We were raised on tight schedules and know the meaning of time management.
There’s no way around it, Millennials love food. And we love free food even more. That’s why you see a lot of companies offering free lunches every week or free snacks stocked in the office.
Not having a marketing leader who is focused only on the end game.
Every CMO should keep profit in mind — especially if lead generation and sales are the goals for a specific marketing campaign. But it’s also important to have a leader in place who can see the big picture and avoid trading out short-term success with long-term pitfalls. You must strike the right balance of profits and long-term results.
Lack of nurturing programs to increase the lifetime value of your clients.
Existing clients are the low-hanging fruit. So why do so many companies not capitalize on this opportunity? The answer is simple: They don’t have nurturing programs in place. Nurturing programs provide an efficient and effective method for increasing the lifetime value of each and every customer. When you continually nurture existing relationships, customers are more likely to trust your brand and continue buying in the future.
Limited sharing of information between marketing, sales, and operations.
All business leaders know that when departments work in silos, many opportunities are missed, especially when it comes to marketing, sales, and operations. Each has critical data that provides a distinct benefit to the other, but when that data is not shared, everyone misses out. The right partner can ensure that data is pollinated seamlessly between critical departments for maximum results.
As a team of Millennials, we know exactly what you need to do to get our attention. Do we have yours?
- In the last 5 years, 87% of Millennial workers took on management roles, compared with 38% of GenX and 19% of Baby Boomers. [EY]
- 5 out of 6 Millennials connect with companies on social media networks. [SDL]
- 62% of Millennials say that if a brand engages with them on social networks, they are likely to become a loyal customer. [Forbes]
- 33% of Millennials rely mostly on blogs and influencers before making a purchase. [Forbes]
- 56% of Millennials would share their location with companies to receive coupons or deals for nearby businesses.
- 84% of Millennials don’t trust traditional advertising. [Hubspot]
- 60% of Millennials say that social media marketing is more credible when influencing their decisions. [Adroit]
- 84% of Millennials say that user generated content has some influence on what they buy. [Bazaarvoice]