Technology is altering the marketing world in obvious and not so obvious ways. Millenials are the largest population in the U.S, marketing initiatives must be tailored to meet their unique demands.
Technology is Empowering Marketing
Millennials are the largest generation in history and now they are entering their prime spending years. As a result, the economy is being reshaped, as well as the consumption and purchasing habits. In this scenario, digital marketing becomes the norm. Mobile marketing is more pertinent than ever, social media and email became more revenue-centric, much bigger drivers of revenue. Therefore, marketing is being empowered by technology. According to Marketo.com, sophisticated marketing automation platforms allow marketers to engage buyers across all channels and listen and respond to their behaviors and actions simultaneously. New opportunities to test ideas, products, services, and techniques will be available regardless of level and function.
Increase in Purpose Driven Marketing
Linkedin’s Marketing Blog explains that today consumers, particularly Millennials, want to have relationships with brands. It’s not just the value they receive from your product anymore. They want to trust you and trust that you stand behind your values. This is not just for the consumers, it has major effects on job recruiting. Employees want an inspiring reason to wake up in the morning beyond just working for a company that’s crushing the competition. Millennials have driven companies to be even more transparent and purposeful in their marketing.
Customer Experience is now King
Millennials care about the experience of a product. Technology, particularly the internet, has given customers more power. They can search the internet and arm themselves with information about products and services they want to buy long before they enter a retail store or call a salesperson. Millennials expect personalization, customer-centricity, and closer relationships with their favorite brands. In order to meet these expectations, marketing needs to craft their strategies accordingly. Mass oriented marketing is becoming less and less common. Today, marketers must focus on strategically segmented audiences, offering them relevant, personalized experiences. Marketers need to see their audiences much more as unique individuals than market segments. Marketing professionals must understand not only the decision making process that happens at the point of purchase, but they also need to study the entire customer’s journey, identifying the most appropriated moments and respective channels that could be used to successfully approach / contact the customer. A good marketing plan must select channels that can be closely integrated, allowing for a brand or product to be omnipresent throughout the customer’s journey. This is a much more complex approach in which the brand/product message needs to strive to integrate data channels to create an individual user experience across devices and even offline, both in the store and on the phone.
In 2018, marketing is highly driven by two factors: technology and Millennials. By understanding the unique demands of Millennials and embracing technology, marketers can find success.