Only 1% of Millennials Respond to Ads — Here’s What They Do Pay Attention to
Whether we like it or not, millennials are taking over the marketplace. Entrepreneur contributor Matt Walker reported that by 2017 millennials will spend around $200 billion a year. Live entertainment is already in a good place to grab a big chunk of that pie, since millennials are more likely to spend on experiences over products.
But the challenge still exists: How do we grab the attention of this group and get them to buy tickets?
Not with ads, since only one percent of millennials surveyed in the 2015 Millennial Workforce study said a compelling ad would help them trust a brand.
Instead, Walker outlines a few better approaches:
Before the event: Be active on social media
“Millennials spend about 18 hours a day consuming online media. The majority of that media is created by their peers, in the form of YouTube videos, Facebook and Twitter posts, Snapchat feeds and Instagram. This means that if you want to help generation Y find your company, then social media is a good place to start. Not only do millennials expect brands to be available on social media, but they want to be engaged by them. In fact, 62 percent say that if a brand engages them on social media, they’re more likely to become a loyal customer.”
During the event: Make that connection
“Millennials are drawn towards businesses that they can make a connection with; so they know where products are coming from and can experience a local brand. … According to recent studies, around 78 percent of millennials are more likely to get involved with a brand if they have had a face-to-face interaction with it.”
After the event: Listen
“If you reach out to millennials where they live — on social media sites and in offline mediums — ask them what they need and want, then you’ll get a response. That response will lead to results. Millennials want to feel as though they can connect with the brands they engage with, so focus on delivering a friendly, open experience.”
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- The Most Important Thing in the World for Marketers to Understand
- The Key to Reaching Millennials: Authenticity