emarketer webinar: tips for reaching & engaging the elusive millennial

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Geoff Ramsey S E P T E M B E R 30, 2 0 1 0 Reaching and Engaging the Elusive Millennial

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Join eMarketer CEO Geoff Ramsey to learn best practices, case studies and the latest strategies for marketing to millennials online in this eMarketer webinar. http://www.emarketer.com/blog/index.php/emarketer-webinar-tips-marketers/

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Page 1: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Geoff Ramsey

S E P T E M B E R 30, 2 0 1 0

Reaching and Engaging the Elusive Millennial

Page 2: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Agenda

Who Are Millennials?

Why Should You Care?

How They Spend Their Media Time

Social Media Fanatics

Mobile Maniacs

A Key Millennial Insight

Agenda

Twitter Hashtag – #eMwebinar

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Page 3: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Also referred to as Generation Y or Echo Boomers or The Entitled Generation or…

“The first generation to come of age in the new millennium," per the Pew Research Center

Those born between 1981 and 2000 (ages 10 to 29)

For our purposes, we’ll focus on young adults, leaving teens for another talk

We’ll use the 18-to-34-year-old group as a rough proxy

eMarketer Defines

Millennials

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Page 4: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Millennials number about 72 million out of a US population of 312 million (US Census)

And they wield an estimated $200 billion in spending power… today

Why Should You Care?

Page 5: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

“No one wants to be told what to do, what to like and what to think. That is especially true of Millennials, who have an instant aversion to anything that smacks of ‘marketing’. They want to believe that they have uniquely discovered the things they like. The ideal way for a Millennial to first experience a product or service is to discover it for themselves.”

Carol Phillips of Millennial Marketing.com, August 5, 2009

Millennials Are More Than Just a Set of Numbers, They’re a Mindset…

Page 6: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

How They Spend Their Media Time

Twitter Hashtag – #eMwebinar

Page 7: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

They’re Born “Techies”

89% 85% 82% 80%90%

71% 67%57%

72%79%

0%

20%

40%

60%

80%

100%

Use Internet WatchVideo

SocialMedia

Buy Online Mobile

Millennials All Users

Source: eMarketer, 2010; Pew (Millennial online buyers, Millennial mobile users), 2010

Page 8: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Reaching Millennials: Use New and “Old” Media

They are avid consumers of television, web and mobile, but not so much newspapers and magazines

TV still dominates, but less so than previous generations of young adults, and less so vs. current Gen Xers and baby boomers

Combine traditional with new media, using the new media (e.g., social) as a means for them to interact with your brand

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Page 9: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

TVB, January 2010: 82.4% watched TV yesterday (vs. 92.3% of 35- to 64-year-olds)

Altman Vilandrie & Company, August 2010:

42% of internet users watch full TV episodes on broadcast TV daily (vs. 60% of users 35 and older)

The Nielsen Company, June 2010: 4.5 hours per day spent watching traditional TV, (vs. 5.9 hours for 35- to 64-year-olds)

TV is Still a Major Time Suck for Millennials

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Page 10: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

But Their TV and Video Habits Are Noticeably Different From Older Consumers…

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Page 11: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

TVB, January 2010: 25.2% read a newspaper yesterday; 18.8% read a magazine (vs. 31% of 35- to 64-year-olds who read a newspaper or magazine)

Adweek/Harris Poll 2010:59% read daily newspapers at least once a week (vs. 72% of adults 35 to 44 and 79% of ages 45 and over)

Millennials Just Aren’t That Into Print

Twitter Hashtag – #eMwebinar

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Page 12: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Don’t Write Off TV or Email

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Page 13: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Another Reason Not to IgnoreTraditional Media, Especially TV

Traditional media can fuel discussions on social media and drive awareness of your branded content on more personalized communication platforms such as email, mobile apps, microsites, Facebook, Twitter, etc.

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Page 14: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Social Media Fanatics

Page 15: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Source: eMarketer, unlessotherwise noted

Online Moms (BabyCenter, Nov 2009) 67%Online Moms (BabyCenter, Nov 2009) 67%

Teens 12 to 17 (eMarketer, ‘10; Arbitron, Apr ‘10) 78%Teens 12 to 17 (eMarketer, ‘10; Arbitron, Apr ‘10) 78%

Millennials 25 to 34 77%Millennials 25 to 34 77%

Gen X 35 to 44 60%Gen X 35 to 44 60%

All Internet Users 57%All Internet Users 57%

Seniors 65+ 20%Seniors 65+ 20%

Millennials 18 to 24 87%Millennials 18 to 24 87%

Boomers 45 to 54 51%Boomers 45 to 54 51%

82%

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Page 16: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Source Date Definition %

Deloitte 12/09 Ages 14 to 26, have a profile 77%

Harris Poll 06/10 Has a FB, MySpace account 78%

eMarketer 04/10 Ages 18 to 34, use monthly 82%

FCC 02/10 Ages 18 to 29,broadband users 85%

Pew 05/10 Ages 18 to 29, ever used 86%

Simmons 06/10 Visited in past 30 days 88%

Millward Brown 09/09 Ever used 94%

% of Millenials Who “Use”Social Networks

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Page 17: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Millennials Jump Onto Trends Fast,

Especially When They Involve Digital

Page 18: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

38% Of Their Weekly Time Spent Online Is On Facebook

38% 32% 21%

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Millennials Are Also Heavy Viewers Of Online Video

85% watch online videomonthly

Vs. 67% of all internet users

Vs. 51% of adults 45 to 64

Source: eMarketer, 2010

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Page 20: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Millennials Are Much More Likely to View Social Sites as Entertainment

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Social Media Provides Millennials Instant Gratification to that “Entertainment”

Page 22: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Something to Keep In Mindfor the Future…

Millennials will keep their social ways… (it’s a part of their DNA)

However, the ways in which they interact and their frequency and intensity will wane

Millennials will continue to use social media as a platform for voicing discontent with a brand experience

Twitter Hashtag – #eMwebinar

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Page 23: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

And Don’t Mistake Their Heavy Usage Of Social Networks for Trust

“Never”

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Page 24: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial
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They Actively Control and Apply Limits to Their Profile Pages and Security Settings

71% of social networking users ages 18 to 29 said they’ve adjusted privacy settings on social networks in order to make some information private

(62% of 30- to 49-year-olds and 52% of those 50 and older did the same)

A majority, 54%, do not trust their private info with Facebook

Pew Internet & the American Life Project, May 2010

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Page 26: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

But They Trust “The Media” EvenLess Than They Do FB Or Twitter

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Page 27: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

4.4%

84%of Millennials do not

notice ads on social sites.

Source: Lubin School ofBusiness Lab, 2009

Page 28: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

95% opt in to emails (again, don’t ignore email)

51% are fans of brands on Facebook

8.5% follow brands on Twitter

Page 29: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Key Take-Aways for Targeting Millennials With Social Media

Use social networks as listening platforms to inform your online and offline marketing programs, keyword search buys, creative approaches, etc.

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Page 30: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Use Social Media to Measurethe “Ripple” Effects Of Your Efforts

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Page 31: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Final Thoughts On Targeting Millennials with Social Media

It’s not enough to just be there on social sites, you have to establish your role in the conversation and how you can add real value

Getting Millennials to “like” you on FB is one thing—getting them to engage with you on a deeper, more sustained basis is quite another

Twitter Hashtag – #eMwebinar

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Page 32: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Mobile Maniacs

71 million, or 90% of 18- to 29-year-olds own a mobile phone (compared to 88% of 30-49 year olds, 82% of those 50 to 64 and 57% of 65 )

Millennials are twice as likely to label cell phones as a “necessity” (59%, vs. seniors 65+ at 29%)

Source: comScore Mobile, July 2009; Pew Research Center, July & August, 2010

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Page 33: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Text Messaging Usage Far Surpasses Other Age Groups

Page 34: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Texting Is a Viable Alternative forMarketers Trying to Reach Millennials

According to a July 2010 “1020 Placecast/Harris Interactive Survey,” 42% of Millennial mobile phone users ages 18 to 34 are interested in receiving text alerts from marketers

(compared to 30% of 35- to 44-year-olds, 21% of 45- to 64-year-olds and 17% of those 55)

Twitter Hashtag – #eMwebinar

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Page 35: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

65% of mobile phone users ages18 to 29 access the internet on their mobile phone (compared to 43% of 30- to 49-year-olds and 18% those 50 and older)

Millennials Not Only Talk and Text, They Are Also Avid Mobile

Internet Users

Pew Internet & American Life Project, July 2010

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Page 36: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Nielsen, June 2010:22%* watch online video on mobile phones (compared with 26% of 35- to 49-year-olds and 10% of 50- to 64-year-olds)

Altman Vilandrie & Company, 2010:13% of internet users ages 18 to 34 view video on their mobile phone daily

eMarketer, 2010:13% of entire mobile pop. watches videoon their phones

And, They Are Also Mobile Video Viewers

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Page 37: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

… And Are Mobile Social Network Users

50%

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Page 38: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Also Heavy on LBS … 32% Use Monthly

15%

Forrester:

• 4% of mobile pop uses LBSregularly

• 80% are male youth

• Mostly bars, clubs and restaurants

Page 39: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

With Mobile Internet, Social and Location-Based Services, Marketers

Have Many Opportunities to Engage

Mobile represents a long-term opportunity to engage with this group—if you can be patient

Pay special care to find out which ways they like to interact and receive messages from you—on an opt-in basis, and then you can follow them and deliver relevant messaging

Location will be important, including in-store (e.g., ShopKick), but tread carefully and don’t overdo it!

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Page 40: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

A Key Millennial Insight: Authenticity

Twitter Hashtag – #eMwebinar

Page 41: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

“These unique factors [high rate of social networking and technology usage] make them very savvy consumers, who pay great attention to the value of what they buy and require a different way to interact with brands.”

Robert Polet, Gucci Group, as cited in NY Times, March 2, 2010

Millennials as Consumers

Page 42: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

More Than Anything, Authenticity Reigns

• Reach and engage them at multiple touch points, and keep your messages consistent

• Make your products, and your pitches about them, authentic– Get them to experience your product and share it with others– Don’t try to fool or mislead them, or they’ll find you out– Don’t make your branded content, including videos, too slick– Allow for product customization and personalization– Solicit and respond to customer reviews and comments– Instead of using celebrities as obvious shills, try to go for

“accidental” endorsements, or better yet, use real people…

Page 43: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial
Page 44: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Authenticity Reigns

• Never look like you’re trying too hard (avoid communicating as if you truly know them)

• Use Experiential Marketing – real-world, local events; digital ways that allow them to “experience” your brand

• Never misuse their data, or let anyone else do the same!

• Emphasize PULL vs. PUSH media, Earned vs. Paid– Provide platforms that facilitate sharing and validation

• Do you have millennials on your marketing team?

• Don’t ever bore them!

Twitter Hashtag – #eMwebinar

Page 45: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

A Few Words from LivePerson Steve Douty

EVP, Marketing & Business Development

Page 46: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

________________________________________________________________________________________________________________________Drowning in Millennials!!

Photo of kids

Page 47: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

________________________________________________________________________________________________________________________Why Worry about the Millennials/Gen Y?

• Large demographic– 70-80 million Americans (25% of the U.S. population)– Racially and ethnically diverse

• Significant spending power– Annual spending power > $200 billion– Will eclipse Boomers in spending power by 2017

• Unique needs– Interaction with “our brand” Community– Most technologically-savvy generation – Value “connections”

Page 48: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

________________________________________________________________________________________________________________________Chatting Up the Millennials

Level of Connection

High

Low

Low High

Cost Effectiveness

Phone Click-to-call

Email

KB/Self-serve

Live Chat• GenY Friendly• Preferred channel• Highly targeted and

controllable• Precise metrics,

hard ROI

Chat-bot

Page 49: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

________________________________________________________________________________________________________________________

• 25% uplift in sales conversions

• 40% increase in AOV

• 25% decrease in support costs

The Right Connections

Page 50: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

________________________________________________________________________________________________________________________

Deeper customer connections.Online. Real time.

Thank you.

Page 51: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

Presented by:Geoff RamseyCEO, eMarketer, Inc.

Twitter Hashtag – #eMwebinar

Sponsored by:

Reaching and Engaging the Elusive Millennial

Questions & Answers

Registrants will receive a copy of the slide deck and the playback link in a follow-up email within 24 hours of this presentation.

Page 52: eMarketer Webinar: Tips for Reaching & Engaging the Elusive Millennial

eMarketer Demographics Coverage

Learn more about demographic segments with eMarketer Total Access.

Visit: www.emarketer.com/productsCall: 800-405-0844 Email: [email protected]

Recent Reports:Affluent Shoppers and Luxury Brand Retailers Online

Millennials Online: Marketing to a Moving Target

Marketing Online to Teens: Girls Shop with a Social Twist

CPG Marketers Target Hispanic Shoppers In-Store and Online

Kids and Teens: Mobile Everywhere

Hispanic Mobile Users and Usage

Social Network Demographics and Usage

Hispanics Online: Demographics and Media Usage

All reports are available to Total Access clients.