Digital marketing is constantly evolving, and at ReputationDefender we strive to keep our readers posted about what is going on and what is likely to come down the horizon. In order for people to foresee the plausible tendencies and changes, it is important to fully assess how the market is composed nowadays, and if one were to look in more depth at its nature, one would also realize that the generation commonly referred to as Millenials have been growing in numbers, and their preferences have also been molding the way brands and companies develop their marketing strategies.
Establishing the overall guideline for understanding the Millenial generation might be, at first sight, somewhat deceiving: being the most up-to-date generation, the Millenial demographic is practically born being digitally-savvy, which is why it becomes something companies should pay attention to. As the world and the markets evolve into a more innovative place, tendencies and trends are entirely developed by consumers, as access to information has never been this easy. Long gone are the days where companies would develop a product or service in hopes of it being loved by the audience based on general perceptions and apparent needs — Now, consumers are not just there for them to be analyzed so that companies and brands can identify their needs, moreover, consumers are now more interested in feeling that they are somehow, or to some extent, part of a company or a brand: from the coolest latest gadgets, from fashion technology. Marketing agencies and any marketing departments ought to specially consider this demographic portion, Millenials, as they would help them know in advance what will be coming down the road — Digital marketing has entirely reshaped from 2.0 to a more social online world: authenticity and interaction has proven to be the first aspects companies should strive to master, seizing the vast spectrum of social media tools, in order for them to attract and hold in the long run as many customers as possible.
We have discussed certain trends that appeared throughout 2016 and that are more likely to grow in importance in 2017, however, and since companies and brands have found themselves in this juncture of social media, strategies should be derived from the prior assessment of the scope of social networks and how to customers and Millenials base their purchasing decisions. First, and given the fact that Millenials love being online as a recent survey suggested (they spend up to seven hours a day online) they are more prone to share lots of information, or from the point of view of brands and companies: vital information. Acquiring data and information about the audience and customers is crucial. It not only allows marketing specialists to develop plausible strategies but also to keep track of behavioral aspects — Marketing specialists cannot simply rely on their instincts to come up with products and services, or with strategies, instead, they have to embrace the use of analytics and data, data that can be gathered from Ad-Words reports, Facebook findings and insights, Google analytics and basically any other source of customer information.
According to the Digital Marketing Institute, almost 70% of startups and companies are still not collecting data about their online challenges; furthermore, and given the fact that social media is projected to grow by 24% of the marketing budget within the next five years, companies should not overlook this and under no circumstances take this lightly.
Bear in mind how many digital devices are available nowadays, and how fondly Millenials love to possess more than just one single digital screen — As of the fourth industrial revolution, which is happening, marketers and marketing specialists have been forced to become proficient in managing social media platforms. This, however, is not an easy task as the slightest mistake could result in a devastating aftermath. Harness the power of social media to convey a message based on what this portion of consumers, which is expected to represent 80% of the market within the next few years, are expecting; do not forget to make them feel special, as the trend of personalization has been proven to work as a tool for holding customers in the long run; deliver enriching consumer experiences; be at the forefront of social medial developments and learn how to use them in favor — Do not fall into the trap of believing that consumers behave the same as in the past, they might as well just take digital marketing trends to a whole new level where the line between digital and analog gets somewhat blurry. Harness the technology and strive to make it customer friendly; integrate both customer service and store within the same platform and make functional on several devices, and, last but not least, keep in mind that purchasing decisions are now based on opinions, so do not overlook and spare no effort in building a solid online reputation.