emarketer webinar: tips for reaching & engaging the elusive millennial
Post on 18-Oct-2014
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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/TRANSCRIPT
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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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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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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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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?
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“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…
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How They Spend Their Media Time
Twitter Hashtag – #eMwebinar
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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
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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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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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But Their TV and Video Habits Are Noticeably Different From Older Consumers…
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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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Don’t Write Off TV or Email
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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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Social Media Fanatics
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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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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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Millennials Jump Onto Trends Fast,
Especially When They Involve Digital
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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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Millennials Are Much More Likely to View Social Sites as Entertainment
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Social Media Provides Millennials Instant Gratification to that “Entertainment”
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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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And Don’t Mistake Their Heavy Usage Of Social Networks for Trust
“Never”
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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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But They Trust “The Media” EvenLess Than They Do FB Or Twitter
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4.4%
84%of Millennials do not
notice ads on social sites.
Source: Lubin School ofBusiness Lab, 2009
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95% opt in to emails (again, don’t ignore email)
51% are fans of brands on Facebook
8.5% follow brands on Twitter
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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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Use Social Media to Measurethe “Ripple” Effects Of Your Efforts
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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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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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Text Messaging Usage Far Surpasses Other Age Groups
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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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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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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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… And Are Mobile Social Network Users
50%
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Also Heavy on LBS … 32% Use Monthly
15%
Forrester:
• 4% of mobile pop uses LBSregularly
• 80% are male youth
• Mostly bars, clubs and restaurants
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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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A Key Millennial Insight: Authenticity
Twitter Hashtag – #eMwebinar
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“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
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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…
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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
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A Few Words from LivePerson Steve Douty
EVP, Marketing & Business Development
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________________________________________________________________________________________________________________________Drowning in Millennials!!
Photo of kids
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________________________________________________________________________________________________________________________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”
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________________________________________________________________________________________________________________________Chatting Up the Millennials
Level of Connection
High
Low
Low High
Cost Effectiveness
Phone Click-to-call
KB/Self-serve
Live Chat• GenY Friendly• Preferred channel• Highly targeted and
controllable• Precise metrics,
hard ROI
Chat-bot
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________________________________________________________________________________________________________________________
• 25% uplift in sales conversions
• 40% increase in AOV
• 25% decrease in support costs
The Right Connections
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________________________________________________________________________________________________________________________
Deeper customer connections.Online. Real time.
Thank you.
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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.
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Visit: www.emarketer.com/productsCall: 800-405-0844 Email: [email protected]
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