The main problem on-line (and off-line) marketers are now facing is how to effectively connect with a large-scale audience through conventional marketing and advertising forums. Businesees that aren't able to connect with Millennials are finding themselves behind the eightball in regard to effectively implimenting mobile marketing, through mobile apps, mobile optimized websites, and more.
Vivaldi Partners Group CEO, Erich Joamchimsthaler, says, “marketers who are not prepared to make the necessary adjustments to meet [the needs of the millennials] will suffer.”
Joamchimsthaler further states that contrary to what is presently thought in marketing, Facebook will not be the main forum. He states that the "hot" arena will be more about branded mobile apps and other more engaging mobile brands. Thus, the challenge that anyone who has a message, product, or service will need to discover effective strategies to engage their existing customer base while incorporating the latest trending technology to acquire new customers. He proposes businesses should target their audience carefully, recognising that no one consumer segment is like another.
Data introduced fby NetBase and Edison Research substantiates this position.
Their data demonstrates that millennials should always be the “first to know about a new product”. Social media marketing is crucial so that consumers can interact with brands, easily share information with their personal networks about products and services, and more.
Gretchen Hoffman, Netbase marketing vice president, says, “Nearly one-quarter of millennials say they are willing to pay a higher price to be the first to have a new product, compared with 15% of all female social media users.”
This establishes the fact that millennials desire to be at the head of the information curve, and they are prepared to pay for the privilege. Marketing to millennials first and foremost is the smartest business strategy of the day!